The North America Biopolymers Market would witness market growth of 9.4% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,344.3 Kilo Tonnes, showcasing a growth of 7.9% (2019-2022).
One of the primary drivers behind the adoption of biopolymers is the growing awareness of environmental issues, particularly the adverse effects of conventional plastics on ecosystems. They offer a sustainable alternative as they are derived from renewable resources, biodegradable, and have a reduced carbon footprint compared to traditional polymers. As a result, corporations use these polymers to comply with corporate sustainability goals and appeal to environmentally conscious consumers. This shift in customer perception has pushed corporations to include bio-polymers in their product lines, which range from packaging to consumer goods. The adoption of these polymers, in turn, becomes a strategic move to capture and retain environmentally conscious consumers.
As consumer expectations for product performance remain high, continuous efforts are being made to enhance bio-polymers' mechanical, thermal, and barrier properties. Research and development initiatives focused on improving the performance characteristics of these polymers make them more attractive to industries where functionality and reliability are paramount, contributing to increased adoption. Successful implementation of bio-polymer-based solutions in real-world applications is a powerful catalyst for adoption. Demonstration projects and success stories in diverse industries showcase the feasibility and benefits of using these polymers. These examples inspire confidence among businesses, encouraging them to adopt these polymers in their operations.
As per the International Trade Administration, the US automotive industry is one of the world's largest. In 2020, the United States sold 14.5 million light vehicles. The United States is the world's second-largest vehicle sales and production region. According to Autos Drive America, global automakers produced 5 million vehicles in the United States in 2020. The automotive industry witnessed the emergence of green certification standards that recognize vehicles made with sustainable materials, including these polymers, in the US. The growth of the automotive sector can drive increased investment in research and innovation related to bio-based materials, including biopolymers, in the US. In the US, more automotive applications for bio-based plastics are made from renewable resources such as sugarcane or plant starch. Therefore, all these factors will uplift the regional market’s expansion in the coming years.
The US market dominated the North America Biopolymers Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6,892.8 million by 2030. The Canada market is experiencing a CAGR of 11.9% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 10.9% during (2023 - 2030).
Free Valuable Insights: The Biopolymers Market is Predict to reach USD 33.8 Billion by 2030, at a CAGR of 10.1%
Based on End-use, the market is segmented into Packaging, Consumer Goods, Automotive, Agriculture, and Textiles & Others. Based on Application, the market is segmented into Bottle, Films, Fibers, Seed Coating, Medical Implants, Vehicle Components, and Others. Based on Product, the market is segmented into Biodegradable Polyesters, Bio-PE, Bio-PET, Polylactic Acid (PLA), Polyhydroxyalkanoate (PHA), and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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