Biodegradable Copolyesters Market Size, Share, Growth and Industry Analysis by Type (PBS And PHA) By Application (Plastic Bags, Loose Packing Material Packaging, Pharmaceutical Packaging Paper, Coated and, Others) Regional Forecast (2022-2028)

REPORT OVERVIEW

• 
• Request a Free sample to learn more about this report

The biodegradable copolyesters market size is anticipated to be worth USD 933.3 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 1,671.5 million by 2028 with a CAGR of 10.2% during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Biodegradable copolyester is a liquid crystalline polymer which is environment-friendly. It is developed primarily to combine high thermal and mechanical properties with higher processability. It is very easily dissolved by fungi and bacteria. It contains certain materials like PHA and PBS and is very widely used.

Emergence of thermotropic liquid crystalline polymers has been the latest development in the market. Steady increase in the demand for biodegradable copolyesters and their vast application are the factors driving the market growth.

COVID-19 impact:  Steep Declines in The Drug and Packaging Industry Reduced the Market Growth

These copolyesters are mainly used in the medical and drug industries for wound closure, surgical sutures, tissue engineering, implants and drug delivery systems. They are also be used for packaging various items and materials because of their biodegradable properties.

The COVID-19 pandemic has affected all the economies and markets globally. The drug and the packaging industries were also badly impacted due the strict restrictions and lockdowns. The non-availability of raw materials at reasonable prices affected the drug market, whereas the sudden decline in the demand brought down the packaging industry. As Biodegradable copolyesters market was dependent on these industries it suffered considerably during the pandemic period. However, like the other industries it also recovered post the pandemic.

LATEST TRENDS

"Emergence of Thermotropic Liquid Crystalline Polymers to Boost the Market Growth"

New discoveries and advancements in the field of science have led to the discovery of thermotropic liquid crystalline polymers that some superior features. These are a kind of biodegradable copolyesters that have amazing thermal properties. They are also characterized with low viscosity and have a very unique ability of being able to process above their melting points.

Because of these properties they have a vast application as commercial engineering polymer. These copolyesters also find application in the field of processing and synthesis. Their bio-degradable properties also create a demand for them as they are environment-friendly and cause very less damage in the long run. The discovery of thermotropic liquid crystalline polymers with some advance features has played a significant role in increasing the biodegradable copolyesters market share.

SEGMENTATION

• 
• Request a Free sample to learn more about this report

• By Type:

The market can be divided on the basis of type into the following segments: PBS and PHA. The PBS segment will be seen dominating the market in the upcoming years.

• By Application:

Classification based on application is as follows: Plastic Bags, Loose Packing Material Packaging, Pharmaceutical Packaging, Paper      Coated, and others. Plastic bags segment is anticipated to dominate the industry during the forecast period.

DRIVING FACTORS

"Steady Increase in The Demand for Biodegradable Copolyesters to Increase Market Growth "

The copolyester market has been witnessing a steady and stable increase in the demand globally. This increase in the demand can be attributed to various reasons. The introduction of upgraded and advanced product has been one of the key reasons. Products with high efficiency and durability have attracted the customers. Their sustainability and ability to last for a long period of time has driven the biodegradable copolyesters market growth.

Another crucial reason for the healthy growth of the domestic and global market is increasing demand for synthetic fibers and plastic-based packaging products. The huge investments made by the key players in the industry has also led to the development of the market.

"Vast Application of Ecofriendly Copolyesters to Amplify the Market Growth"

Due to their superior features and characteristics the copolyesters have found application in various fields. The high usage of these products in different area has increased the sales which in turn has contributed to the market growth and development.

These polyesters are biocompatible, biodegradable and have linear optical properties. They are used as implant biomaterials as well as in metabolic engineering. Sporting goods, cosmetics, drugs, plastics, home appliances and medical packaging are some other industries that are reliant on the copolyester industry for their production. The wide usage and vast application of these products in different industries has been an important factor driving the market growth.

RESTRAINING FACTOR

"High Flammability and Increasing Health Concerns to Decrease Market Growth"

The copolyesters have a property of being processed above their melting point. They also have a high burn point and there are possibilities that they can melt much faster than expected. Therefore, they are highly flammable and can catch fire very easily. This can lead to various injuries and burns. If it melts on the skin there are dangers of the product fusing on the skin which requires immediate medical attention.

Another disadvantage is that these copolyesters are non-hypoallergenic. They can contain certain chemicals that might have some serious effects on the health of the user. Skin allergies, hormonal imbalances, and dangerous chemical reactions are some of the other side effects of the biodegradable copolyesters. The high flaming property and the side effects caused by these products are some of the major factors that can restrain the market growth.

Regional Insights

• 
• Request a Free sample to learn more about this report

"Europe to Dominate the Biodegradable Copolyesters Market During the Forecast Period"

The region that is seen dominating the market is Europe. The region of Europe accounts for almost half of the market share. The region that follows Europe is North-America with USA being the second largest market share holder.

Many favorable factors have led to the growth of the market in Europe. Some of them include the high manufacturing capacity and huge investments that are coming in from the key players of the market. Increased production has given way to higher sales making Europe the top market share holder. The availability of resources, raw materials and men force are some of the other notable factors that have contributed to the market growth in the past few years.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• BASF (Germany)
• Eastman (U.S.)
• Showa Denko (Japan)
• DuPont (U.S.)
• Kingfa (China)
• Mitsubishi Chemical (Japan)
• Meredian (U.S.)
• Tianjin GreenBio Materials (China)
• Biomer (Germany)
• Metabolix (U.S.)
• Yifan Xinfu Pharmaceutical (China)
• Ecomann (China)
• Anqing Hexing (China)

Report Coverage

The report provides an insight into the biodegradable copolyester industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations