Increasing awareness among the population in emergednations towards the harmful effects of packing materials of food items and collective applications for eco-friendly packaging materials todrive the Biopolymers market growth.
Additionally, fluctuating environmental principles on carbon emissions and plastic usage to boost the biopolymers market over the forecast period 2020-2026.
Extensive usage of biopolymers in the pharmaceutical industry andproduction of hydrogelswhich help in the creation of a moist environment for wounds to fuel the market growth.
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Further, encouragement by governments for the usage of biodegradable polymers over conventional polymersto reduce carbon footprint impacts the market positively.
In addition, nearly major automotive companies opt for biopolymers in their vehicles. For example, the Ford Motor Company uses biopolymers for years for interior applications.
Owingto the presence of properties of bio-based PET such as recyclability and biodegradability it increases the market trends over the forecast period 2020-2026.
However, the cost-effectiveness of conservative plastics over biopolymers is one of the major factors hampering the biopolymer market growth. Also, the requirement of enormous R&D investment for the development of biopolymers to pose challenges for the marketparticipants.
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Europe holds the major portion of the biopolymers market share and will continue to remain dominant during the forecast period 20-2026followed by others attributing to the laws and regulations in this region.
Along with government rules and inclusivestrategiesassociatedwith the use of biopolymers certainly influence the marketgrowth.
Additionally, perpetualrisingapplications of the biopolymer from end-user industries including automotive, food & beverage, pharmaceutical, agriculture, electrical & electronics, aerospace to boost the market demand.
Whereas, the Asia Pacific to observer robust growth primarily attributed to rapid industrialization, needs to curb pollution from man-made plastics and synthetic polymers.
Biopolymers' sustainable substitute in waste management helps to decrease carbon dioxide production resulting in an increasing interest in biopolymer production which will thenenhance the expansion of the biopolymer market in the near future.
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Cutting-edge technology, partnerships, new launches among market players to boost the market demand. For instance, researchers at Bath Universitydeveloped a biopolymer recycling technique for recycling repeatedly without a loss in quality.
Further, Kodiak's lead product KSI-301 is being developed for the treatment of retinal vascular diseases including age-related macular degeneration.
In addition, Kaneka BioPolymersto highlightedits newplant-based PHBH™ strawsat GreenBiz 2020 in Phoenix, Arizona.
Moreover, TAIF GC continues to implement the biopolymer production projectto produce bioplastics.
As well, Danimer Scientific and Columbia Packaging Group (CPG) partnered to developDanimer’s biopolymer which can be biodegraded in home compost units and industrial composting facilities.
Key players participating in the biopolymer market include NatureWorks, Braskem, Novamont, BASF, Total Corbion PLA, Biome Bioplastics, Bio-On, Toray Industries, Plantic Technologies, and Mitsubishi Chemical Corporation among others.