Selbyville, Delaware, March 09, 2022 (GLOBE NEWSWIRE) — According to the latest research report from Global Market Insights Inc., the Biopolymer films market was estimated at USD 4 billion in 2021 and is expected to reach more than $7 billion by 2028, growing to a 8.4% CAGR from 2022 to 2028. The report provides a detailed analysis of market size and estimates, drivers and opportunities, top winning strategies, competitive scenario, hesitating market trends and major investment pockets.
Biopolymer films are widely used in the medical and pharmaceutical industry to perform contamination-free diagnostic procedures for patients, as well as isolation, blanketing, and contact inhibition, among other applications. Growing demand for sustainable packaging solutions along with government policies focused on developing sustainable packaging solutions are poised to boost product adoption in the coming years. Additionally, latest product technological advancements and stringent environmental stability regulations are expected to facilitate market growth throughout the forecast period.
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Synthetic-based biopolymer films offer many advantages, such as excellent acoustic and vapor barrier and low cost. The increase in the purchasing power of consumers, coupled with the growth of the working population, should stimulate the demand for products. In 2021, the synthetic raw materials segment was valued at around USD 370 million and is expected to grow at a CAGR of around 6.5% through 2028.
From a technology perspective, the biopolymer film market share of the sol-gel segment is expected to surpass USD 1.4 billion in revenue by 2028. Sol-gel technology accounts for the largest market share owing to its extremely durability and its mechanical characteristics. In this process, coatings are applied to the base paper of the films to increase the absorption efficiency of the products and reduce the wettability, which is expected to promote segmental prospects in the review schedule.
The main reasons for Growth of the biopolymer films market:
- Common application in the packaging sector.
- Increasing use of synthetic films.
- Assembly of absorption in pharmaceutical applications.
- Growing demand in the medical and pharmaceutical industry.
Forecasts for 2028 show that the “polyamide” segment retains its dominance:
Based on product, the polyamide segment is expected to witness notable growth at a CAGR of over 6.5% between 2022 and 2028. Polyamide offers several beneficial properties, such as abrasion resistance, resilience, and durability. high resistance. Polyamide films enhance shelf appeal, improve product protection and create a more lucrative and sustainable supply chain. They are available in various blends and can be customized as needed. The growing importance of these films in several applications such as MAP packaging, composite bags, cleanroom films and bags, sterilization films and bags, and acrylic molding is expected to support segmental growth in the coming years.
Asia-Pacific will maintain its leading status in terms of revenue:
In the regional landscape, the Asia Pacific biopolymer films market is expected to generate a valuation of around USD 2.1 billion by 2028. APAC region is estimated to be the fastest growing market and is expected to hold the capabilities of biopolymer production by 2028. Regional safety standards governing food contact materials including GB 9685, GB 4806.1-2016, etc. are expected to positively impact the growth of the industry throughout the study period. Additionally, technological innovations from prominent players in the APAC market, such as Toray Industries Inc. and Amcor Ltd., are expected to drive the development of the regional market in the future.
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Impact of the COVID-19 pandemic on Biopolymer films market:
Following the COVID-19 outbreak, there was an urgent need for efficient and sustainable packaging solutions across various industries. In the food and beverage sector, biopolymer-based active packaging, which integrated the release of active compounds with antioxidant and antimicrobial activities, was seen as an effective and innovative solution to improve shelf life and maintain product quality. quality of food products during transport between producers and consumers. Accordingly, the great importance of biopolymer films in various applications has been favorable for the expansion of the industry during the pandemic.
Main market players:
Some key companies operating in the global biopolymer film industry include Taghleef Industries, Amcor Ltd., Avery Dennison Corporation, Plastic Union NV, NatureWorks LLC, Innovia Films, Mondi Group, Evonik Industries AG, Klöckner Pentaplast, Industria Termoplastica Pavese SpA (ITP), BASF SE, Yield10 Bioscience, Inc., Toray Industries Inc., Braskem SA and BioBag International AS, among others.
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Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services. Offering syndicated and custom research reports, growth advisory and business intelligence services, Global Market Insights Inc. aims to help clients with penetrating insights and actionable market data that facilitates strategic decision-making.