Biopolymers Market Size, Share, Growth Analysis, By Product(Bio-PE, Bio-PET, PLA, PHA), By Application(Films, Bottle, Fibers, Seed Coating), By End Users(Packaging, Consumer Goods, Automotive, Textiles), By Region - Industry Forecast 2024-2031

Biopolymers Market Drivers

Environmental Supremacy to Bolster Demand for Biopolymers during Forecast Period

• The market is expanding because of a change in consumer preference for plastic products that are environmentally friendly. The commercial development of bioplastics is being aided by consumer knowledge of sustainable plastic options and inescapable efforts to eliminate the use of conventional, non-biodegradable plastics. Conventional plastics, which are mostly made of oil, take a very long time to separate or degrade and spend a considerable amount of time in landfills. When discarded, biodegradable plastics dissociate more quickly and are reincorporated into the environment's regular structure. Additionally, biodegradable polymers degrade far more quickly than conventional plastics do through the actions of microbes.

• In the pharmaceutical sector, biopolymers are now generally acknowledged for their capacity to treat wounds of any size, shape, or depth. Hydrogels are made using certain popular biopolymers, including chitosan, alginate, gelatin, and pectin, and they provide a moist environment for dry wounds. Wound dressings are another use for these biopolymers. These elements are serving as prestigious market growth drivers for biopolymers.

Biopolymers Market Restraints

High Costs associated with Bioplastics to Hinder Market Growth

• The market's expansion in many application categories is constrained by bioplastics' greater price compared to standard polymers. The cost of manufacturing bio-based polymers is sometimes 20–100% more than that of conventional polymers. As most techniques are still in the development stage and have not yet reached economies of scale, this is largely because bio-based polymers have a high polymerization cost.