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Bio polyester Market

Bio polyester Market

Bio polyester Market Forecast, Trend Analysis & Competition Tracking - Global Review 2020 to 2030

Bio polyester Market

Bio polyester Market: Overview and Dynamics 

Bio polyesters are a particular type of polymer that, according to its intended purpose, can biodegrade naturally in the environment. These bio polyesters are often synthetically made, the chemical processing includes various components like functional groups of ester, amide and ether, giving them the characteristic of being biodegradable. A broad class of bioplastics derived from renewable resources, such as natural fats and oils, are bio-based polyesters.

Apart from being natural polymers, they also exhibit thermoplastic properties of changing form on high temperatures and pressure. The manufacturing of bio polyesters is not dependent on the use of petrochemicals. Hence, they replace petro-based resources and may not be affected by their limited supply in nature. In addition to being biodegradable, the bio polyesters also display the properties of hydrophobicity which makes them superior to their biodegradable competitors like starch and proteins.

Polylactic acid (PLA), polyglycolic acid (PGA), poly-ε-caprolactone (PCL), polyhydroxybutyrate (PHB), and Poly (3-hydroxy valerate) are several biobased polyesters that have achieved commercial usage or are currently being studied for commercial use. Polylactic acid (PLA) is the most extensively studies polymer as it is a truly biodegradable and biocompatible polymer with a relatively higher melting point. Bio polyesters have a wide range of application in various industry, it can act as a substitute for a plastic material which is non-biodegradable.

Increased awareness about plastic disposal and its environmental impact would drive demand for bio polyesters. 40% of plastic produced are used in the packaging industry which makes the packaging industry biggest market for bio polyesters in the coming future. Companies have started bringing sustainable business practices into their packaging processes in recent years by reducing the use of plastic materials in the packaging of the products. The properties like elasticity, versatility, durability, lightweight, ease of processing and many more add up to its advantages.

On the economic and political level, many countries have formulated laws and norms on the discontinuation and replacement of plastics. The changes in the rules and regulations also affect the consumers' demand for the bio polyesters that are alternatives to plastics. Bio polyesters depict similar properties as plastics including high productivity, low cost, stretchability, wide-use, water-resistant etc. Moreover, bio polyesters are degraded by the bacteria and fungi unlike plastics this has led to its acceptance among the users.

Bio polyesters are used as a feedstock for injection-moulding of disposable articles like drinking cups and food containers. Some other uses include sheeting for soil preservation, waste bags, and general packaging materials. In the medical and pharmaceutical sectors, bio polyesters have also found many uses, such as in drug delivery systems, wound closure, surgical sutures, implants, and tissue engineering.

World’s largest companies make use of bio polyesters for manufacturing of disposable syringes, blood bags, and catheters, medical supporting surgical operations like sutures and adhesives. The list is very long but the application of bio polyesters in medical devices is only allowed if they clear strict government regulations on terms of non-toxicity, stabilizability, and effectiveness. A major restraint of their use can be related to the lack of biocompatibility with the living tissues of the body if implanted permanently.

Bio polyester Market: COVID-19 Impact Insights

COVID-19 pandemic has forced countries to impose lockdowns and strict social distancing measures across the globe, flattening the global economic curve. The bio polyester industry felt the impact of COVID-19 from all the directions. COVID-19 has presented massive disruptions in the demand-supply equilibrium across multiple industries, leading towards economic losses at a global level. Supply chain disruption, decreased demand, risk of workforce getting infected and travel restriction resulted in the steep fall in production.

COVID-19 has caused economic hardship for consumers, businesses and governments across the world. Labour-intensive industries are still at risk as they won’t be able to meet their demand due to risk of workforce getting infected. The global bio polyester market also witnessed a small yet significant slump during Q1 of FY2020. However, the situation soon started recovering as the bio polyesters started being used for the production of biodegradable face masks.

The increasing concern on the pollution caused by plastic masks and non-biodegradability raised suspicion and rejection levels among the consumers. As more and more people are becoming aware of the depletion of natural resources, the acceptance level for the plastics is also decreasing simultaneously. COVID-19 served as an opportunity for the companies to innovate their products in a way that they are sustainable, economic and eco-friendly.

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Bio polyester Market: Regional Outlook

Based on the regional split, the report “Bio polyester Market” takes into account six prominent regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa. The European market accounts for most of the demand in bio polyester market due to increased awareness of the consumers about the environmental impact of using plastic. The government in European regions has imposed various rules and regulations to promote eco-friendly products.

Moreover, the medical advancements in the European regions like Germany, Italy, France and BENELUX help in accelerating the bio polyester market at large. Their wide range of uses in controlled drug release, gauzes, bandages, bone plates and wound care make up to the extensive practice in the medical industry.

South Asia and Oceania seem to be the fast-growing market for bio polyesters due to the rapid industrialization and increasing consumer awareness among the consumers in this region.

North America accounts for a significant market share for bio polyesters market due to the presence of key manufacturers in this area. It is the second-largest producer of bio polyesters due to the regional demand drivers that include expansion of filling lands and developing infrastructure for the bio polyester market. Latin America may soon turn out to be a potential region under bio polyester market. This can be noticed as the manufacturers' lookout for cost reduction and the adoption of conventional resources.

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Bio polyester Market: Key Players

The major players in the bio polyester market include Carbion, MITSUI, Nature Work, Novamont, Novomer, Perstorp, Solvay, BASF, Plantic Technologies Limited, Archer Daniels Midland Company. Global Bio polyesters market is consolidated market as these player’s accounts for most of the market share.

Companies operating in bio polyester market made huge investments to R&D in recent years for making products that are commercially sustainable and scale up the production. Majority of manufacturers are constantly blending and creating new biodegradable products for the environment concerned population. Their vision is also to gain a competitive edge over the other companies for which they invest highly on licensing as well. The technical, functional and economic advantages on producing bio polyester are kept for in-depth consideration by the companies.

The research report presents a comprehensive assessment of the Bio 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. The Bio polyester market report provides analysis and information, according to market segments such as geographies, product type and end-use.

The Bio Polyester Market Report Covers Exhaustive Analysis On:

  • Market Segments
  • Market Dynamics
  • Market Size & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

An Adaptive Approach to Modern-day Research Needs

The Bio Polyester Market Regional Analysis Includes:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Argentina, Chile, Peru)
  • Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
  • East Asia (China, Japan, South Korea)
  • South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
  • The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)

The Bio polyester 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 Bio polyester report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Bio polyester report also maps the qualitative impact of various market factors on market segments and geographies.

The Bio 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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Segmentation Analysis of Bio Polyester Market

The global Bio polyester market is bifurcated into four major segments: product type, end-use, and region.

Based on product type, Bio polyester market has been segmented as follows:

  • Polylactic acid (PLA)
  • polyglycolic acid (PGA)
  • poly-ε-caprolactone (PCL)
  • polyhydroxybutyrate (PHB)
  • poly (3-hydroxy valerate)

Based on end-use, Bio polyester market has been segmented as follows:

  •   Aerospace
  •   Automotive
  •   Electronics
  •   Medical
  •   Packaging
  •   Others

 Based on the geographic regions, Bio polyester market is segmented as

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia and Oceania
  • Middle East & Africa

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