LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global biopolymers market report until 2021. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
The global biopolymers market is expected to reach USD 10,447.2 million by 2021, growing at a CAGR of almost 17% through the forecast period. Western Europe comprises the largest market segment, occupying 41.5% of the market, with the maximum incremental growth expected to originate from the region.
“Packaging and food services is the largest end-user segment of the global biopolymer market. This sector occupies over 65% of the market, with most of the demand generating from the need for eco-friendly bottles, loose-fill, cups, pots, and other products. Due to such varied applications, this segment is expected to retain market dominance through the forecast period. Other important end-user segments are agriculture and horticulture and consumer goods,” says Swapnil Tejveer Sharma, one of the lead analysts at Technavio for plastics, polymers, and elastomers research.
Competitive vendor landscape
The global biopolymers industry is highly fragmented with the presence of a countless number of global and regional players. The market is witnessing top players competing to increase their market shares and geographic reach by acquiring local and regional players. The competitive environment in the biopolymers market will intensify with the increase in product extensions in terms of innovation in technology and production.
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Top five biopolymers market vendors
Arkema
Arkema produces chemicals and operates in 40 countries. The company's operations include the production and marketing of vinyl products, performance products, and industrial chemicals.
The company operates through three segments: coating solutions, industrial specialties, and high-performance materials. The coating solutions segment deals in acrylics, photocure resins, and coating resins. The high-performance materials segment includes fluoropolymers, specialty polyamides, and functional additives, while the industrial specialties segment deals in the chemicals, hydrogen peroxide, and fluorochemicals. The company's major markets include Europe, North America, and Asia.
BASF
BASF provides chemicals, performance and crop protection products, plastics, and oil and gas. The company has a presence in 200 countries and serves diversified industries, including paper, furniture, and automotive.
BASF has two major brands for biodegradable polymers – Ecoflex and Ecovio. In addition to these, the company also offers other products, including compostable packaging solutions such as shrink films, paper-coating, foam packaging, and injection molding.
NatureWorks
NatureWorks manufactures and supplies biopolymers. The company introduced its Ingeo biopolymer in 2003. It is a bio-based material made from plants instead of oil. The company has been dedicated to driving environmental progress through the development of the bioplastics and fibers market.
NatureWorks' products help in the reduction of greenhouse gas emissions that lead to global warming and climate change. Its Ingeo biopolymer performs well in both plastic and fiber forms. The products offered by the company are used in different sectors and applications such as home textiles, appliances, plastic bottles, cards, apparel, fresh food packaging, folded cartons, cellphone cases, service ware, lactides, polymers, polymer additives, nonwovens, adhesives, coatings, cosmetics, laptops, other durable goods, printing toners, and surfactants.
Novamont
Novamont manufactures and develops sustainable plastic products that are based on plant-derived chemicals and other renewable feedstock. The company is focused on the development of compostable and biodegradable biopolymers, including Mater-Bi. Its products are used in films, thermoformed articles, additives, foams, injection molded articles, and extruded articles. It serves the agriculture, large-scale retail distribution, catering, waste management, and industrial sectors.
The company provides Mater-Bi products. Mater-Bi is a biodegradable bioplastic made of starch, cellulose, vegetable oils. It is used in numerous applications such as packaging, carrier bags, food, and waste management.
Plantic
Plantic operates in the bioplastics industry and manufactures and distributes biodegradable packaging products for the food industry. Its product portfolio consists of PLANTIC HP and PLANTIC R, which are performance sheets made from corn starch and eco-plastic and are based on renewable technology.
Plantic uses renewable materials for its products, which reduces carbon emissions and provides excellent performance characteristics in applications such as meat, poultry, and dairy packaging sectors.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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