Bio-based polymers are materials wherein a portion of the polymer consists of material produced from renewable raw materials while the remaining portion of the polymers may be from fossil fuels. Bio based Polymers have a lower CO2 footprint and are displacing the incumbent Petro chemicals based polymers.
According to Mordor Intelligence Analysis, the demand for the Bio based Polymers is expected to increase from billion in 2015 to in 2020. The major contributing factors being stringent environmental regulations and the need to reduce carbon dioxide emissions, government incentives and support to the sector. Whereas, the high cost of production is a major restraint.
Asia is expected to register huge investment in the bio based polymer capacities owing to favourable political framework and better access to feedstock’s. Although Europe shows the strongest demand for biobased polymers but is expected to register slow growth in production capacities since their bio based facilities are not only small in size but are also small in numbers. Unfavourable political framework is also expected to lead to weak production in the bio based polymers in Europe.
The packaging industry is expected to be the largest consumer for bio based polymers during 2015-2020 due to the development of the bio based PET used in packaging of bottles followed by segments like automotive, textiles and consumer goods.
Scope of the Report
This report exhaustively analyzes the ‘Global Bio based Polymers Market by Industry (Packaging, Textiles, Bio-Medicine, Agriculture, Construction and Others) and Geography, Current Market scenario and forecast during 2015-2020, Porters five forces Analysis and the recent developments in the industry. The report covers regions such as North America, South America, Asia Pacific and Europe. Estimates in each segment are provided for the next five years. Key drivers, opportunities and constraints that are affecting the growth of this market have been discussed in detail. The study also elucidates on the competitive landscape and SWOT analysis of key market players.
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