The market has been estimated at USD XX.XX billion in 2016 and is projected to reach USD XX.XX billion by 2022, at a CAGR of XX.XX% during the forecast period. Bio-polymers are polymers which are produced from living organism. They contain properties such as biodegradability, biocompatibility, and are non-toxic in nature. These polymers are attracting a significant commercial interest owing as they are produced by the chemical polymerisation of naturally occurring monomers.
Bio-polymers can be used for various applications such as pharmaceutical, packaging, electronics, and others. Bio-polymers are extensively used in the pharmaceutical applications, accounting for a share of XX.XX % in 2016.The report is also segmented based on the product types into bio-PET, bio-PLA, bio-PE, and others. Bio-PET is the largest segment of the market in terms of revenue and it is also the fastest growing segment in the bio-polymer market accounting for a share of XX.XX% in 2016.
Market Dynamics of the Global Bio-Polymers Market:
Europe is the leading consumer of bio-polymers in 2015 accounting for a share of XX%, followed by APAC and North America. The bio-polymers market in Europe will grow at a high rate during the forecast period owing to the huge demand from the pharmaceutical industry. The market will grow at a healthy pace during the forecast period.
Furthermore, the shifting focus towards eco-friendly products will offer numerous opportunities for the bio-polymers market growth. Some of the major companies dominating the market with its products, and continuous product developments are:
Key Deliverables in the Study: