Biobased Polyester: Market Introduction
Polymers produced from organic monomers could provide a surrogate to those produced from fossil fuels that is more environment friendly and renewable. Biobased monomers can be procured from sources like cellulose, starch, or bio-ethanol. The resulting polymers could minimize fossil resource consumption and avoid significant quantities of non-biodegradable waste. The development of biobased polyester has gained conspicuous traction in recent years and is further expected to flourish during the forecast period.
The growth in the biobased polyester market will be steered by factors such as soaring cotton prices, increasing global GDP, rapid urbanisation, growing population, increasing car production and increasing demand for PET-based packaging. There are certain trends and develpoments like an array of modifications in polyester fiber to ameliorate dyeability & hydrophilicity that would sway the growth of the industry. As demand is increasing, the market for biobased polyester is rising and diversifying, with more advanced biopolymers, applications and products. However, the industry's growth will be threatened because of the provisions of biobased polyester substitutes, fluctuating oil prices, tension in trade between the US and China, and rising wages in polyester production.
The biobased polyester market is segmented on the basis of type, application, and region. On the basis of type, the market is classified into poly (3-hydroxy valerate) biobased polyester, polylactic acid (PLA), poly-ε-caprolactone (PCL), polyglycolic acid (PGA) and polyhydroxybutyrate (PHB). PLA is the most rigorously scrutinized biobased polyesters. It is truly biocompatible and biodegradable polyester with a relatively high melting point (160 °C). PLA is key biobased polymers that is used in the packaging of food and beverages and are biodegradable with no harmful chemical within the polymer. PHBs are a crucial polymer family, whose production capacities are speculated to triple in the coming years. These are 100 percent biodegradable and biobased polyester feature a wide variety of physical and mechanical properties depending on their chemical composition.
Biobased polyesters are used for the injection of items such as cups and food containers. Other applications include soil retention pads, waste bags and general packaging material. Biobased polyesters have also found many applications in the medical and pharmaceutical industry, for example, in wound closure, drug delivery systems, implants, tissue engineering and surgical sutures. Drug delivery inside the human body can be effortlessly controlled with biodegradable capsules. In resorbable nonwovens, wound healing, are used as a replacement for human tissue. Due to recent innovations in synthetic biology, these biobased polyesters are becoming more economical to manufacture. Increasing awareness and global change in demand for petrochemical derived polymers from plastics over several hundred years led to a renewed emphasis on this previously unreachable sector.
Global Biobased Polyester Market is Experiencing massive decline as COVID-19 Outbreak
COVID-19 will significantly impact the Industrial goods industry as well as biobased polyester. This is the most affected verticals due to the ongoing COVID-19 outbreak. The pandemic and subsequent halt in development activities would affect the distribution of a variety of renewable chemicals. Moreover, the availability of chemical stocks in import-based countries also has a significant effect on current trade disruptions.
Segmentation Analysis of Global Biobased Polyester Market
Global Biobased Polyester Market is segmented into three major categories: type, application, and region.
On the basis of type, the global market for Biobased Polyester is divided into:
- polylactic acid (PLA)
- polyglycolic acid (PGA)
- poly(3-hydroxy valerate)
- poly-ε-caprolactone (PCL)
- polyhydroxy butyrate (PHB)
On the basis of application, the global market for Biobased Polyester is divided into:
- Drug delivery systems
- Wound closure
- Surgical sutures
- Tissue engineering
Based on the region, the global market for Biobased polyester is segmented as:
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Biobased Polyester Market: Regional Outlook
Europe strengthened its position as a crucial hub for the biobased polyester industry once again; it ranks highest in the field of research and development and is the industry’s largest market worldwide. Europe dominated the global bio-based biodegradable plastics market in 2019 followed by the Asia Pacific and North America.
Biobased Polyester Market: Competition Outlook
Key players operating in the biobased polyester market include Dow Chemical, Bayer MaterialScience, BASF SE (Parent), Shell Chemicals Ltd, Huntsman Corporation, Carpenter Chemical, PERSTORP AB, Repsol, Rabigh, Dong Da Chemical Co, CPSC, Korea Polyol, Other Companies, Armacell GMBH, Recticel SA/NV and Vita Group Ltd. Growing research and development program by players is projected to fuel the growth of the market over the forecast period.
The research report presents a comprehensive assessment of the Biobased Polyester market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. This biobased polyester market report provides analysis and information, according to market segments such as type, application, and region.
The Global Biobased Polyester Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Global Biobased Polyester Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, RoE)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, ANZ, Rest of Oceania)
- MEA (GCC Countries, South Africa, Turkey, Rest of MEA)
The Biobased Polyester market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The global biobased polyester market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The global biobased polyester market report also maps the qualitative impact of various market factors on market segments and geographies.
The Global Biobased Polyester Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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