At what pace is the bio-based materials market growing, and what is its estimated value?
The bio-based materials market size has grown exponentially in recent years. It will grow from $38.16 billion in 2024 to $47.97 billion in 2025 at a compound annual growth rate (CAGR) of 25.7%. The growth in the historic period can be attributed to government incentives, rising environmental awareness, volatility in fossil fuel prices, increasing demand for sustainable solutions, growing consumer preference for eco-friendly products.
The bio-based materials market size is expected to see exponential growth in the next few years. It will grow to $106.69 billion in 2029 at a compound annual growth rate (CAGR) of 22.1%. The growth in the forecast period can be attributed to government incentives, rising environmental awareness, volatility in fossil fuel prices, increasing demand for sustainable solutions, growing consumer preference for eco-friendly products. Major trends in the forecast period include development of novel bio-based materials, adoption of bio-based packaging solutions, integration of bio-based materials in construction sector, rise of bio-based materials in medical applications, adoption of bio-based packaging solutions.
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What are the top drivers to the rising demand in the bio-based materials market?
Increasing environmental awareness is expected to propel the growth of the bio-based materials market going forward. Environmental awareness refers to the understanding and recognition of environmental issues, including their causes, consequences, and potential solutions. the rise in environmental concerns has created a conducive environment for the growth of the bio-based material market, driven by a combination of regulatory support, consumer awareness, corporate responsibility, and advancements in sustainable technologies. Bio-based materials plays a pivotal role in increasing environmental awareness by promoting sustainable alternatives to traditional materials, reducing carbon emissions, and mitigating environmental degradation. For instance, in May 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, global energy investment in clean energy witnessed a significant increase from $1408 billion in 2021 to $1740 billion in 2023. Therefore, increasing environmental awareness is driving the growth of the bio-based materials market.
How is the bio-based materials market segmented?
The bio-based materials market covered in this report is segmented –
1) By Type: Bio-Based Polyurethane, Bio-Based Paraxylene, Bio-Based Polypropylene, Bio-Based Polyamides, Other Types
2) By Application: Rigid Packaging, Flexible Packaging, Electrics And Electronics, Consumer Goods, Automotive And Transport, Other Applications
3) By End Use: Food And Beverage, Pharmaceuticals, Automotive, Textiles, Agriculture, Other End Users
Subsegments:
1) By Bio-Based Polyurethane: Rigid Polyurethane Foam, Flexible Polyurethane Foam, Coatings, Adhesives, Sealants, and Elastomers (CASE)
2) By Bio-Based Paraxylene: Bio-PET (Polyethylene Terephthalate), Bio-Polyester Resins
3) By Bio-Based Polypropylene: Bio-Polypropylene Homopolymer, Bio-Polypropylene Copolymer
4) By Bio-Based Polyamides: Bio-Based Nylon 6, Bio-Based Nylon 6,6
5) By Other Types: Bio-Based Polyethylene, Bio-Based Polylactic Acid (PLA), Bio-Based Polyvinyl Chloride (PVC)
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Who are the top competitors in the bio-based materials market?
Major companies operating in the bio-based materials market are China Petroleum & Chemical Corporation (Sinopec), BASF SE, Sumitomo Chemical, Evonik Industries AG, Covestro AG, Braskem, Toray Industries Inc., Mitsui Chemicals, DuPont de Nemours Inc., Arkema SA, Eastman Chemical Company, DSM, LANXESS, Huntsman Corporation, Tosoh Corporation, Lubrizol, Clariant AG, Plastipak Holdings Inc., Corbion N.V., Japan Polypropylene Corporation, RAMPF Holding GmbH & Co. KG, Manali Petrochemical, RadiciGroup, Biobased Technologies, Virent Inc., TSE Industries Inc., Avantium, Anellotech Inc., Gevo Inc.
What significant trends should we anticipate in the bio-based materials market over the forecast period?
Major companies operating in the bio-based materials market are increasing their focus on developing advanced solutions and products, such as circular propylene glycol solutions, to gain a competitive edge in the market. Propylene glycol (PG) solutions are utilized in various industries for different purposes. For instance, in September 2023, The Dow Chemical Company (Dow), a US-based multinational corporation that provides raw materials and chemicals, launched new lower-carbon, bio-based, and circular propylene glycol (PG) solutions featuring innovative technologies. This platform leverages innovative technologies such as Decarbia, Ecolibrium, and Renuva to offer reduced carbon footprints, bio-based content, and circular economy benefits. This product represents a significant advancement in the bio-based materials market, providing sustainable alternatives that contribute to lower carbon emissions, promote renewable resources, and support the transition towards a circular economy.
Which regional trends are influencing the bio-based materials market, and which area dominates the industry?
Europe was the largest region in the bio-based materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bio-based materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Bio-based Materials Market Report 2025 Offer?
The bio-based materials market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Bio-based materials are materials derived from renewable biomass sources such as plants, animals, or microorganisms. These materials offer an environmentally friendly alternative to traditional petroleum-based materials, contributing to sustainability and reducing carbon footprints across various industries.
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