by Green polymers, also termed as biopolymers, are sustainable and eco-friendly polymers derived from renewable biomass sources such as vegetable oils, corn starch, sugarcane etc. or are biodegradable. Key products associated with the green polymer market include biodegradable plastics such as polylactic acid (PLA), polyhydroxyalkanoates (PHA), biopolymer degradable mulch films used for application in agriculture. These products are increasingly being adopted as an alternative to conventional plastics due to its inherent properties such as renewability, biodegradability that reduces environmental impact.
The global Green Polymer Market was valued at US$ 39.46 Bn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 – 2030, as highlighted in a new report published by CoherentMI.
Market Key Trends:
One of the key trends in the green polymer market is increasing research and development focus to produce innovative products and expanding application scope. Continuous R&D efforts are being made to engineer green polymers with enhanced properties suitable for various end-use industries. Companies are investing in development of new procedures and techniques for large-scale production of green polymers to reduce costs and drive widespread adoption. This has led to commercial availability of green polymers for a variety of applications including packaging, textiles, automotive and healthcare industries among others. Another major trend is rising consumer preference for sustainable products driven by growing environmental consciousness leading to increased adoption of bioplastic products worldwide.
Green Polymer Market Segmentation
By Type
Biodegradable
Biobased
Recycled
Bio-based, non-biodegradable
Partially bio-based
By Application
Packaging
Agriculture
Automotive
Electronics
Textiles
Healthcare
Others (construction, consumer goods, etc.)
By Polymer Type
Starch-based
Polylactic acid (PLA)
Polyhydroxyalkanoates (PHA)
Polyethylene terephthalate (PET)
Polybutylene succinate (PBS)
Polytrimethylene terephthalate (PTT)
Others (PUR, PVA, etc.)
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Porter’s Analysis
Threat of New Entrants: The threat of new entrants entering the green polymer market is low as manufacturing green polymers require huge capital investments and R&D. Established players have strong brands and economies of scale.
Bargaining Power of Buyers: The bargaining power of buyers is moderate as they have few options to choose from among established players. Buyers have moderate influence over prices.
Bargaining Power of Suppliers: The bargaining power of suppliers is moderate as raw material suppliers have established themselves. However, switching costs from one supplier to another are low.
Threat of New Substitutes: Threat from substitutes is low as green polymers are new sustainable materials which provide environmental benefits over conventional plastics.
Competitive Rivalry: The competitive rivalry is high among major players to gain higher market share and differentiate product offerings and applications.
Key Takeaways
The global Green Polymer Market Size is expected to witness high growth over the forecast period. The global Green Polymer Market was valued at US$ 39.46 Bn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 – 2030.
Regional Analysis: The Asia Pacific region dominates the market with over 35% share and is expected to grow at a high CAGR through 2030 mainly due to the presence of emerging economies like China and India. Stringent environmental regulations in the region are also positively impacting market growth.
Key Players: Key players operating in the green polymer market are BASF, Dow Chemical, Braskem, NatureWorks, Novamont, Indorama Ventures, Danimer Scientific, Teijin, Mitsubishi Chemicals, and BioAmber. The major players focus on new product launches, acquisitions, and expanding production facilities globally to enhance market presence.
Reasons to Purchase Green Polymer Market Report:
1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.
3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Green Polymer Market.
FAQ’s
Q.1 What will the market development pace of the Green Polymer Market?
Q.2 What are the sales, revenue, and price analysis of the top players of the Green Polymer Market?
Q.3 What are the market opportunities and threats faced by the vendors in the Green Polymer Market?
*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
