Green polymers, also known as biodegradable polymers, are gaining popularity due to their eco-friendly properties and ability to decompose without harming the environment. These polymers are produced from renewable biomass sources and include polylactic acid, starch blends, polyhydroxyalkanoates, and cellulose. They can be used to manufacture a variety of products including packaging, textiles, consumer goods, automotive components, medical devices and are suitable substitutes for plastics made from petroleum resources.
The Global Green Polymer Market Size is estimated to be valued at US$ 39.46 Bn in 2024 and expected to exhibit a CAGR of 9.6% over 2024-2031.
Key Takeaways
Key players operating in the green polymer market include BASF, Dow Chemical, Braskem, NatureWorks, Novamont, Indorama Ventures, Danimer Scientific, Teijin, Mitsubishi Chemicals, and BioAmber. Rising environmental concerns have increased the demand for eco-friendly polymers from various end-use industries. stringent regulations regarding plastic waste disposal and bans on single-use plastic items in many countries are further propelling the green polymer market growth. Major manufacturers are investing in R&D activities to develop advance biodegradable polymers with improved properties. forthcoming technologies such as enzymatic catalysis, metabolic engineering and biomass conversion may help large scale production of these polymers economically.
Market Trends
Increased polymer composites usage - Green polymer composites that are a blend of biodegradable polymers and natural fibers are gaining prominence. They have high strength, durability and reduce dependence on synthetic fillers.
Carbon footprint reduction - Manufacturers are focusing on lowering the carbon footprint during the polymer production stage through sustainable processes like anaerobic digestion. This enhances the eco-friendliness of green polymers.
Market Opportunities
Rising food packaging demand - Green polymers can replace conventional plastic food packaging and cater to the growing demand for sustainable packaging from the food industry.
Medical devices/implants - Biodegradable polymers offer opportunities in degradable surgical sutures, implants, scaffolds for tissue engineering and drug delivery applications.
The COVID-19 pandemic has significantly impacted the green polymer market globally. The bio-based and biodegradable polymers witnessed strong demand from packaging manufacturers as plastics were regularly used for food delivery and takeouts during lockdowns. However, restrictions on manufacturing and supply chain disruptions hampered the production of green polymers in the initial months. With social distancing protocols, consumer preference shifted towards sustainable packaging for health and safety reasons. This promoted the use of compostable and biodegradable foodservice items made from green polymers. The pandemic also highlighted the issues of plastic pollution, accelerating the shift towards eco-friendly alternatives. As the economic activities resume post lockdowns, green polymer producers are focusing on expanding production capacities and sustainable sourcing to cope up with the rising needs of consumers and industries. The packaging and food & beverage sectors will continue adopting renewable green polymers for ensuring product safety as well as protecting the environment.
North America dominates the global green polymer market in terms of value. The presence of leading manufacturers and high acceptance of sustainable solutions among packaging and automotive industries drive the demand. Europe follows North America owing to stringent regulations regarding fossil-based plastics and focus on circular economy goals. Asia Pacific is recognized as the fastest growing regional market for green polymers. The involvement of emerging economies like China, India empowering bioplastics production and consumption is fueling the regional expansion. Along with industrialization and urbanization, the adoption of biodegradable polymers is increasing in APAC packaging, agriculture and consumer goods sectors.
What Are The Key Data Covered In This Green Polymer Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Green Polymer's growth between 2024 and 2031.
:- Accurate calculation of the size of the Green Polymer and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Green Polymer Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Green Polymer vendors
FAQ’s
Q.1 What are the main factors influencing the Green Polymer?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Green Polymer companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Green Polymer’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
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