The bio-polymers market in North America 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, textiles 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 Bio-polymers Market in North America:
North America is the largest market for biopolymers globally and USA is the leading country in biopolymers majorly owing to the rising demand from end-user industries such as bottles, fibres, and automotive. They consume almost close to one-third of the global demand. Moreover, the rising demand from the deeply penetrating industries such as automotive and pharmaceutical will open up huge opportunities in the North American biopolymers market.
Furthermore, the shifting focus towards eco-friendly products will offer numerous opportunities for the growth of the bio-polymers market. Some of the major companies dominating the market with its products, and continuous product developments are:
Key Deliverables in the Study: