Bio-Based Materials Market to Witness Exponential Growth | 2026
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.
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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.
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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.
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