Synthetic Biopolymers Market Size (2023-2030)

The global Synthetic Biopolymers Market was estimated to be worth USD 21.11 Billion in 2022 & is projected to hit a value of USD 33.65 Billion by 2030, growing at a CAGR of 6% during the forecast period 2023-2030 

Industry Overview:

The Synthetic Biopolymers Market is a speedily growing segment of the polymer industry, characterized by a range of versatile & biodegradable materials. Synthetic biopolymers are polymer-based materials that are manufactured from renewable resources, such as plant-based sources & agricultural by-products. These materials have gained momentous attention in recent years due to their environmentally friendly nature & biodegradability, as well as their potential use in a wide range of applications such as packaging, textiles, medical devices, & more. The market is driven by the growing demand for sustainable materials & increased government initiatives for the development of biopolymers. Additionally, the development of advanced manufacturing processes & technological advancements is expected to further boost market growth. However, the high cost of production & the availability of alternative materials may hamper market growth in the coming years.

COVID-19 Impact on the Synthetic Biopolymers Market:

The COVID-19 pandemic has had a significant impact on the synthetic biopolymers market. Biopolymers are widely used across several industry verticals such as packaging, consumer goods, agriculture, automotive, and others. However, due to the ongoing global shutdowns and lockdowns all these industries have gravely been affected. Furthermore, labour shortages, transport restrictions, and unavailability of raw materials slowed down the growth of global synthetic biopolymers market.

Market Drivers:

• Growing demand for sustainable and eco-friendly products helps to drive synthetic biopolymers market growth:-
  • Synthetic biopolymers are becoming increasingly popular due to their sustainable & eco-friendly nature. As consumers become more environmentally conscious, the demand for products made from synthetic biopolymers is on the rise. This is driving the growth of the market as manufacturers seek to meet the maturation demand for sustainable products.
• Advancements in biotechnology helps to drive the global synthetic biopolymers market growth:-
  • The rapid advancements in biotechnology are also driving the growth of the synthetic biopolymers market. New technologies & processes are making it possible to produce high-quality biopolymers that can be used in a variety of applications. Additionally, research and development in the field of biopolymers is uncovering new uses and applications, further expanding the market.

Market Restraints:

• The Synthetic Biopolymers Market's growth is being stifled by High Production Costs:
  • The production of synthetic biopolymers often necessitates expensive equipment & processes, taking to higher production costs. This can make synthetic biopolymers less attractive to manufacturers, analysed to conventional petroleum-based polymers.
• ​​​​​​​The Synthetic Biopolymers Market's growth is being stifled by Lack of Standardization:​​​​​​​
  • The synthetic biopolymers market is still relatively new, & there is a lack of standardization in terms of regulations & certifications for these materials. This can lead to uncertainty for manufacturers & end-users, as they may not be sure about the quality & safety of the products they are using.

SYNTHETIC BIOPOLYMERS MARKET REPORT COVERAGE:

Market Segments:

This research report on the global Synthetic Biopolymers Market has been segmented based on Type, Application, End-user, and Region.

Synthetic Biopolymers Market – By Type

• Polyesters
• Polyamides
• Biopolyesters
• Others

The Synthetic Biopolymers market can be segmented based on the type of polymers, including polyesters, polyamides, biopolyesters, & others. Polyesters are the most widely used synthetic biopolymers in various applications, including packaging, textiles, & coatings, owing to their unique properties such as excellent mechanical strength, high thermal stability, & resistance to environmental degradation. Polyamides, such as nylon, are widely used in the manufacturing of fibers & textiles, as they offer high strength, good elasticity, & chemical resistance. Biopolyesters, such as polylactic acid (PLA), is produced from renewable resources such as cornstarch & sugarcane, making them a sustainable alternative to traditional petroleum-based plastics. They are widely used in packaging, textiles, & biomedical applications. Other types of synthetic biopolymers include polyurethanes, polyethylene glycols, & polycarbonates, which find applications in various industries such as automotive, construction, & healthcare. The market for synthetic biopolymers is seeing several recent developments, including the increasing use of biodegradable polymers in various applications, the growing demand for sustainable packaging materials, & the emergence of new manufacturing techniques for biopolymers. Additionally, there is a rising focus on research & development activities to explore new applications & improve the properties of synthetic biopolymers.

Synthetic Biopolymers Market – By Application

• Packaging
• Textiles
• Agriculture
• Medical & Pharmaceutical
• Personal Care
• Others

The packaging segment holds a momentous share in the synthetic biopolymers market due to the increasing demand for sustainable packaging solutions. The rising awareness about the negative impact of conventional plastic packaging on the environment has led to the development of biodegradable and compostable packaging materials. The textile industry is also adopting synthetic biopolymers due to their biodegradable and sustainable nature, which aligns with the growing trend of eco-fashion. The agriculture segment is estimated to witness significant growth due to the increasing demand for biodegradable mulching films and bio-based pesticides. In the medical and pharmaceutical industry, synthetic biopolymers are being used for drug delivery systems, wound dressings, and tissue engineering. In the personal care industry, biopolymers are being used in products such as shampoos, conditioners, and lotions due to their natural and safe nature. Recent developments include the use of biopolymers in advanced wound care products and the development of bio-based and biodegradable mulching films for agriculture applications.

Synthetic Biopolymers Market – By End User

• Packaging
• Textile
• Agriculture
• Automotive
• Medical & Pharmaceutical
• Personal Care & Cosmetics
• Others

The synthetic biopolymers market can be segmented by end-use into packaging, textiles, agriculture, automotive, medical & pharmaceutical, personal care & cosmetics, and others. The packaging segment is estimated to dominate the market due to the increasing demand for biodegradable and sustainable packaging materials. The textile segment is anticipated to grow significantly due to the increasing demand for eco-friendly and biodegradable textile fibers. The agriculture segment is also estimated to witness growth due to the increasing adoption of biodegradable mulching films and seed coatings. The medical & pharmaceutical segment is estimated to witness growth due to the increasing use of biodegradable polymers in drug delivery and tissue engineering applications. The personal care & cosmetics segment is predicted to witness growth due to the increasing demand for biodegradable and sustainable ingredients in cosmetic formulations.

Synthetic Biopolymers Market – By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

The Synthetic Biopolymers Market is estimated to show momentous growth in the coming years, with North America, Europe, Asia Pacific, & South America & Middle East, and Africa being the major regions operating the market growth. North America & Europe are likely to rule the market due to the being of major manufacturers & gaining government initiatives to promote the use of biodegradable polymers. The Asia Pacific region is estimated to show substantial growth due to increasing demand for sustainable products, growing population, & rapid industrialization. The growing awareness of environmental sustainability is also likely to contribute to market growth in the region. Additionally, the growing demand for eco-friendly packaging solutions is also estimated to drive market growth in these regions.

Major Key Players in the Market:

1. DuPont de Nemours, Inc.
2. BASF SE
3. NatureWorks LLC
4. Corbion NV
5. Braskem
6. Mitsubishi Chemical Corporation
7. Teijin Limited
8. Biome Bioplastics Limited
9. Danimer Scientific, Inc.
10. Kaneka Corporation

Market Insights and Developments:

• In February 2020, DuPont established a new line of renewably-sourced thermoplastic elastomers (TPEs) called Hytrel RS that are partially made from plant-based materials. This launch was in line with the growing trend of sustainable and eco-friendly materials in the synthetic biopolymers market.
• In September 2020, NatureWorks informed that it had successfully produced a new range of Ingeo polylactic acid (PLA) grades that are suitable for use in 3D printing applications. This development is expected to open up new opportunities for the use of synthetic biopolymers in the speedily growing 3D printing industry.
• In December 2021, BASF informed the launch of a new grade of its biodegradable plastic, ecovio, which is certified for marine biodegradability. This is a momentous development as it addresses the growing concerns around plastic pollution in oceans and other water bodies. This new grade is expected to create new opportunities for synthetic biopolymers in various applications such as packaging, agriculture, and textiles.