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Description
The global bio-based polymer market size valued USD 6462.2 million in 2020 and expected to reach USD 9504.2 million by 2027, at a CAGR of 5.4% during the forecast period 2021-2027. Some of the key factors responsible for the market growth include favorable government policies, increasing adaptation in automotive applications, increasing use in the packaging end-use industry and availability of feedstock. It is acclaimed that biopolymers costs two times more than conventional. Continuation of high crude oil and natural gas prices, which will allow biopolymers to become more cost-competitive with petroleum-based resins. However, the amount of large-scale industrial production of biopolymers which are more common in the future with the implementation of cost reduction is expected. In addition, high growth in emerging economies provides huge growth opportunity for the market. This report studies global bio-based polymer market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global bio-based polymer market report includes human demographics, regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global bio-based polymer market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
