August 20, 2019
Worldwide biopolymer films market is anticipated to cross US $3 billion mark by the year 2025, according to the latest research available at Market Study Report LLC, report provides complete overview of biopolymer films Market considering all the major Industry trends, market dynamics and competitive scenario.
The biopolymer films having robust mechanical properties and acting as a barrier against any external agent, find applications in food industry where they are used for packaging food items. The ability of the product to provide longer shelf life and appealing appearance to food items is fueling product demand. The strict regulations defined by the FDA against the use of petrochemical-based or synthetic films, which are harmful to humans and environment, are further driving the biopolymer films market growth.
Moreover, the biopolymer films are known for their biocompatibility, hence are used in various medical applications. The product finds its usage in space filling implants, wound management, and controlled drug management among others. It is also used as a substituent for regular plastic films owing to the biocompatibility and non-toxicity of biopolymer films. Increasing advancements in medical equipment together with the expansion of the healthcare sector will propel the global market.
Based on the raw material type, the bio-based films market is presumed to value over US $2.9 billion by 2025, owing to the growth of food & beverage sector where it is used for longer food preservation. The growing demand for renewable and organic packaging material will escalate the product demand. In addition, the partially bio-based films segment is predicted to surpass US $1.2 billion over the forecast period. The product market is driven by its application in agricultural sector where it is used as mulch films for soils and crops to protect them against weed and quality depletion.
Considering the technology spectrum, the multilayer segment is expected to cover 50% volume share of the biopolymer films market, pertaining to its ability to provide better barrier for water vapor and enhance the salability of the product. While the Atomic Layer Deposition technology is estimated to cross US $2 billion over the forecast timeframe. ADL enhances compatibility between bio-based or synthetic films and inorganic barriers coatings, thereby witnessing significant growth opportunities, cites the report.
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On the basis of product type, polylactic acid films segment captured 25% of market share and is anticipated to register substantial growth over the forecast period, owing to its increasing use in food and packaging industry. The product is manufactured from renewable resources and is known to have properties such as biodegradability, thermoplasticity, and compostability. It is used as compost bags, disposable tableware, and loose-fill packaging.
According to the end-use outlook, food & beverage industry is predicted to hold 40% share of the overall biopolymer films market. While the home & personal care sector is expected to hold 13% share of the market and would demonstrate a CAGR of more than 7% over the forecast period owing to the growing use of the product in personal care items like hair care treatments and more.
In terms of regional landscape, Europe is presumed to lead the global biopolymer films market by capturing 30% share by the year 2025. The dominance can be attributed to the abundant presence of raw materials and technological advancements contributed by major contenders of the market, cites the report.
The key players of the biopolymer films market include Mondi Group, Evonik Industries AG, Avery Dennison Corporation, Braskem, Taghleef Industries and BASF SE.