Renewable Polymers Market: An Eco-friendly Solution

  • Renewable polymers are polymers made from renewable or reproducible sources such as plant-based products. Renewable polymers can be isolated from natural biopolymers or synthesized from bio-based monomers. Monomers or the building blocks of renewable polymers can be produced from biomass, for polymer syntheses.
  • Major efforts are being taken in the field of polymer science across the world to manufacture macromolecular materials having the renewable origin.
  • Manufacturers of renewable polymers have also been developing a process to synthesize traditional monomers and platform chemicals from renewable resources. Carbohydrates, such as cellulose, starch, lignin, terpenes, chitosan, proteins, and bio polyesters can be chemically modified.

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Key Drivers of Renewable Polymers Market

  • Steady decline of fossil resources along with consistent increase in oil prices have prompted a search for alternatives based on renewable resources. This is expected to be a key factor driving the demand for renewable polymers.
  • Renewable polymers are likely to gain significant momentum in the near future. The prevalence of petroleum and carbon based chemistry to manufacture organic chemical consumer goods has driven various initiatives that are aimed at replacing fossil sources with renewable counterparts.
  • Renewable polymers can be produced by separation of the components of vegetable biomass and their development or after suitable chemical modification. The environmental concerns associated with petroleum-based polymers are expected to encourage a paradigm shift toward eco-friendly renewable polymers in flexible packaging applications by 2027.
  • Renewable polymers serve as a substitute for petroleum based plastics. Rise in demand for bio-based polymers in manufacturing bottles and food containers is expected to boost the renewable polymers market during the forecast period. The regulations enacted by governments across the globe on traditional plastic products are likely to further propel the global renewable polymers market in the future.

Polylactic acid (PLA) and Bio-PET to be Key Segments

  • Based on product type, the global renewable polymers market can be classified into: Polylactic acid (PLA), Bio- PVC, Bio-PA (Polyamide), Biodegradable Polyesters, Bio-PE (Polyethylene), Bio-PET and others.
  • Polylactic Acid (PLA) is a biodegradable thermoplastic derived from renewable sources such as corn starch or sugarcane and holds substantial potential for its renewable attributes. PLA is environmentally friendly material since it is made from renewable resource – Corn. Plastics products may take up to thousand years to decompose while PLA products compost within 3-6 months in a composting system. PLA is likely to be a prominent renewable resource for its nontoxic characteristics.
  • Production of bio-based PET is rising significantly, worldwide, largely after the Plant PET Technology Collaborative (PTC) initiative launched by The Coca-Cola Company in June 2012. Bio-based PET, whose production capacity was around 600,000 tons in 2013, is likely to reach about 7 million tons by 2020, using bio-ethanol from sugar cane.

Significant Opportunity in Rigid and Flexible Packaging Industries

  • Based on application, the global renewable polymers market can be divided into rigid packaging, flexible packaging, consumer goods, automation & transportation, textiles, agricultural applications, medical devices, and others
  • The packaging industry marks the highest consumption of petro based polymers. The same trend can be observed for renewable polymers. The packaging industry has a considerable interest in biodegradability since packaging is only needed for short times but in big quantities, which contributes to the accumulation of waste. The packaging application segment is likely to be the major segment in global renewable polymers market by 2027.

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Asia Pacific to be Key Market for Renewable Polymers

  • In terms of region, the global renewable polymers market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Renewable polymer industry is likely to grow rapidly in Asia Pacific substantially in the next decade, and is estimated to witness burgeoning potential from the rapidly expanding economies of the region, including: China, India, Indonesia and Malaysia.
  • Renewable polymers are likely to be a material of choice for the manufacturers as well as the consumers in Asia Pacific during forecast period, Renewable polymers help reduce carbon emissions, reduce landfill due to biodegradability and are combustible, and lessen dependence on oil. Most investment in the upcoming renewable polymer capacity expansions is projected to take place in Asia Pacific because of better access to feedstock and a favorable political framework.

Key Manufacturers in Market

The global renewable polymers market was highly fragmented in 2018. Key manufacturers operating in the global market include:

  • BASF SE
  • Arkema
  • Solvay
  • Corbion
  • Braskem
  • Blackwell Plastics
  • Natureworks LLC
  • API SpA
  • Novamont SpA

Global Renewable Polymers Market: Research Scope

Global Renewable Polymers Market, by Product

  • Polylactic acid (PLA)
  • Bio- PVC
  • Bio-PA (Polyamide)
  • Biodegradable -Polyesters
  • Bio-PE (Polyethylene)
  • Bio-PET
  • Others (Bio-starch blends, Polytrimethylene terephthalate (PTT), etc.)

Global Renewable Polymers Market, by Application

  • Rigid Packaging
  • Flexible Packaging
  • Consumer Goods
  • Automation & Transportation
  • Textiles
  • Agricultural Applications
  • Medical Devices
  • Others (Building & Construction, Electrical & Electronics, etc.)

Global Renewable Polymers Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa 

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
  • Europe
  • 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.

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Renewable Polymers Market

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