by Green polymers are biodegradable plastics derived from renewable feedstock including vegetable oils and starch, rather than petroleum oil. They offer higher sustainability over conventional petroleum-based plastics in terms of production and end-of-life management. Green polymers are used across various applications such as packaging, agriculture, textiles, consumables, and automotive. The ability of green polymers to reduce environmental pollution and carbon footprint has boosted their popularity over the years.
The Global Green Polymer Market Size is estimated to be valued at US$ 39.46 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024-2031.
Growing environmental concerns and stringent regulations regarding plastic waste disposal have increased the adoption of biodegradable and eco-friendly polymers across industries. Major players are focusing on introducing innovative product portfolios made from renewable feedstock to capitalize on the increasing demand.
Key Takeaways
Key players operating in the Green Polymer market are BASF, Dow Chemical, Braskem, NatureWorks, Novamont, Indorama Ventures, Danimer Scientific, Teijin, Mitsubishi Chemicals, and BioAmber. Green polymers produced by these players are extensively used in various packaging applications such as food packaging, bottles, agriculture films due to their biodegradability and renewability.
The growing demand for sustainable packaging solutions from industries including food and beverage, personal care is propelling the green polymer market. In the food industry, green polymers help improve package functionality and shelf-life while ensuring food safety. They are replacing conventional plastic packaging owing to stringent regulations prohibiting single-use plastic.
The increasing global acceptance and adoption of bioplastics instead of petroleum-based plastics are driving the green polymer market’s expansion worldwide. Government support through initiatives and investment in bioeconomy to encourage R&D and production of bio-based plastics using green polymers will further boost global market growth over the forecast period.
Market Key Trends
The use of green polymers in 3D printing filaments is one of the key ongoing trends in the market. Green polymers such as PLA, PHA are heated and extruded to produce filaments that can be used as feedstock for 3D printing of prototypes, models, and final parts. 3D printed filaments based on green polymers are more sustainable than conventional filaments and finding increasing applications in healthcare and lifestyle sectors. The advancement in 3D printing technology will further propel the consumption of green polymers for 3D printing filaments.
Porter’s Analysis
Threat Of New Entrants: High capital requirements for setting up manufacturing plants pose barriers for new players.
Bargaining Power Of Buyers: Buyers have moderate bargaining power due to availability of alternative products in the market.
Bargaining Power Of Suppliers: Suppliers have low to moderate bargaining power as raw materials for green polymers are commodity chemicals available from multiple sources.
Threat Of New Substitutes: Threat is moderate as green polymers like PLA face competition from traditional plastics and other biodegradable materials.
Competitive Rivalry: Intense competition exists among the major players to gain market share through investment in R&D and capacity expansion.
Geographical Regions
North America accounts for the largest share of the global green polymer market in terms of value owing to stringent environmental regulations and presence of leading players in the region.
Asia Pacific is expected to be the fastest growing regional market during the forecast period driven by increasing plastic waste issues and growing usage of green polymers in packaging and textile applications in China, India and other developing nations.
What Are The Key Data Covered In This Green Polymer Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Green Polymer’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Green Polymer and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Green Polymer Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Green Polymer vendors
FAQ’s
Q.1 What are the main factors influencing the Green Polymer?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Green Polymer companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Green Polymer’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
