The market in APAC has been estimated at USD XX.XX billion in 2015 and is projected to reach USD XX.XX billion by 2020, 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 automotive, pharmaceutical, packaging, electronics, and others. Bio-polymers are extensively used in the pharmaceutical applications, accounting for a share of XX.XX % in 2015.The report is also segmented based on the product type into bio-PET, bio-PLA, bio-PE, and others. Bio-PET is the largest segment in terms of revenue and the fastest growing segment in the bio-polymer market accounting for a share of XX.XX% in 2015.
Market Dynamics of the Bio-polymers Market in APAC:
The market is driven by depleting natural resources, demand from end-user industries, and stringent government regulations. However, this market faces certain drawbacks such as lack of commercialisation in the developing countries.
China is the leading consumer of bio-polymers in 2015 accounting for a share of XX%. The bio-polymers market in China will grow at a high rate during the forecast period owing to the huge demand from the end-user industries such as pharmaceutical and textile. Some of the major companies dominating the market with its products, and continuous product developments are:
Key Deliverables in the Study: