A new report by Reports and Data projects that the worldwide bioplastics and biopolymers market is expected to achieve a value of USD 21.61 Billion by 2026. These innovative materials find application across various sectors, ranging from packaging to medical industries. In the healthcare sector, polymers derived from biological sources are employed for constructing bio-based body structures, whereas the automotive industry is increasingly adopting high-tensile polymers to replace metal components, aiming to reduce both costs and emissions. The rising demand for cleaner energy in manufacturing processes across industries is fueling the growth of biopolymers.
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Companies considered and profiled in this market study
Corbion NV, Arkema, BASF SE, KURARAY, Eastman Chemical Company, Novamont, NatureWorks LLC, Celanese Corporation, Metabolix Holdings, and Braskem S.A., among others.
The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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driving factors of bioplastics and biopolymers Market
- Environmental Concerns: Growing awareness and concern about environmental issues, particularly related to plastic pollution, are driving the demand for bioplastics and biopolymers. These materials offer a more sustainable and eco-friendly alternative to traditional plastics.
- Government Regulations and Policies: Stringent regulations and policies imposed by governments to curb plastic pollution and promote sustainable practices are encouraging the adoption of bioplastics and biopolymers. Incentives and mandates for the use of bio-based materials contribute to market growth.
- Consumer Awareness and Preferences: Increasing consumer awareness of the environmental impact of conventional plastics has led to a shift in preferences towards eco-friendly and biodegradable alternatives. The demand for products made from bioplastics is rising as consumers seek more sustainable options.
- Rising Petrochemical Prices: Fluctuations in petrochemical prices and concerns about the availability of fossil resources are driving industries to explore and invest in alternative, renewable resources like bioplastics and biopolymers.
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