Global Bio-Based Materials Market: Brief Overview
The global bio-based materials market is going to witness a heavy demand during the forecast period 2018 – 2026, owing to growing concerns regard environment throughout the world. Bio-based products have recently gained an immense popularity owing to the growing environmental concerned population. Bio-based materials are extracted from renewable sources like that of feedstock, which comprises of corn, sugarcane, or other polymers which will degrade in the environment within a span of one year. There are numerous advantages associated with using bio-based material over conventional materials which hardly degrades in the environment, thus threatening the atmosphere. One of the major factor pushing the global bio-based materials market is the steady price of agricultural feedstock with comparison to petrochemicals. This is likely to make the price of biobased products stable, thus favoring the growth of the global bio-based materials market.
Global Bio-Based Materials Market: Trends and Opportunities
The major reason that is boosting the growth of the global bio-based materials market is the rising awareness regarding safeguarding the environment. Increase in temperature of earth due to rise in emission of carbon dioxide gas is considered to be affecting the environment adversely. This has made the environmental concerned people to uptake sustainable products, which can be degraded naturally by the earth itself without any extra help. Recent years have seen day to day products release chemical waste such as harmful byproducts into the environment, in order to descend exposure to such chemicals and bring down the emission of toxic byproducts, people are inclining towards the consumption of sustainable bio-based products.
It has been noticed that the use of plastics in various industries such as automotive industry, food and beverage industry, and healthcare for numerous purposes has adversely impacted environment, as these plastics are non-degradable. It has taken numerous marine lives. In order to replace the use of plastics, bioplastics have come into play. They are efficient in packaging products for both automotive and food and beverage industries. These bioplastics can be easily degraded, thus making it better option for packaging in an eco-friendly way.
Global Bio-Based Materials Market: Regional Outlook
On the basis of geography, the global bio-based materials market is segmented into Europe, Latin America, Asia Pacific, the Middle East and Africa, and North America. Of these, Europe is likely to dominate the global bio-based materials market during the assessed period. European countries have agreed to have bio-based production to boosts their industry share. However, on the other hand, Asia Pacific is predicted to witness a strong demand due to rapid industrialization. India and China are likely to become the major contributor from this region.
Global Bio-Based Materials Market: Companies Mentioned
Some of the major players in the global bio-based materials market are BASF SE, DSM, Evonik Company, Anellotech, Inc., Clariant, Arkema, Gevo, LANXESS, and PespiCo Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.