Bio-based functional polymers market to grow till 2020

15-Jan-15

Uncertain petrochemical prices are expected to have a positive effect on the overall bio-based functional polymers market over the next six years, as per Grand View Research. Consumer preference towards bio-based polymers over conventional polymers is expected to drive the market over the forecast period. Bio-based feedstock usage is supported by the environmental regulations against their chemical counterparts and is expected to be beneficial for the global bio-based functional polymers market. Growing end-use industries on a global scale is also expected to have a positive influence in the bio-based functional polymers market growth. Polylactic acid (PLA) and Polyhydroxyalkanoates (PHA) were the most dominant products in 2013 owing to growing end-use applications market such as automobiles, food packaging, chemicals, textile, laminates, hygiene products, fibers, medical packaging, cosmetics, and non-woven fabrics Asia Pacific was the largest regional market in 2013 owing to growing industrialization in emerging countries such as China and India. Demand for natural polymers and favorable regulatory acts are expected to have a positive influence on this regional market. South America is also expected to witness significant growth owing to growth of industrialization in Brazil over the forecast period. Easy access to feedstock in both these regions is expected to act as a competitive advantage over other regional bio-based functional polymer markets. Europe and North America are expected to experience moderate market growth over the next six years. Major bio-based functional polymers market participants include Futerro, Nature Works, Bio-on, BASF, Kaneka, DuPont, Novamont, IRE Chemical, Ulbe, Meridian, Mitsubishi Gas Chemicals, Metabolix, Toyobo, Yikeman Shandong, Purac and Livan.