According to a newly released report on bio-based polyesters by Fact.MR, the global market is valued at US$ 2.1 billion in 2022 and is expected to grow at a robust CAGR of 16% from 2022 to 2032.

The market growth is primarily driven by the enhanced ability of bio-based polyesters to retain their properties under extreme conditions. Additionally, they offer customizable formulations to meet specific end-use requirements without compromising other key performance attributes, making them highly desirable for various applications.

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Bio-based polyester is a key component of the expansive bioplastics market, meeting the needs of industries such as medical, pharmaceuticals, packaging, textiles, and agriculture. It is commonly used as a feedstock for injection molding single-use items like food and beverage containers. Other packaging applications include garbage bags, soil retention sheaths, and basic packing materials.

The growing demand for bio-based polyesters across sectors like medical, textiles, automotive, agriculture, and packaging is expected to drive significant market growth over the forecast period. Despite the temporary slowdown due to COVID-19, the market has rebounded and is poised for strong expansion in the coming years.

Why is the U.S. a Large Market for Bio-based Polyesters?

U.S. manufacturers are addressing supply chain gaps by forming joint ventures and strategic partnerships with small-scale businesses in the packaging and textile industries, along with third-party distributors.

Global market players are focused on building long-term relationships with end-use industries, offering attractive margins to strengthen their brand reputation. Leading U.S. manufacturers are also adopting advanced production technologies to lower manufacturing costs and boost profitability.

With strong disposable income and government stimulus funds driving demand for bio-based polyesters, the U.S. packaging industry has seen substantial growth. Due to fewer producers in the market, new entrants are using higher price points to increase profit margins. The U.S. bio-based polyester market is expected to grow at a CAGR of 17.6%, reaching US$ 2.3 billion by 2032.

Read More: https://www.factmr.com/report/5384/biobased-polyester-market

Key Segments Covered in the Bio-based Polyester Industry Survey

By Source :
Starch
Cellulose
Glucose
Sucrose
Fatty Acids
Others (Incl. Waste Water)
By Nature :
Aliphatic Polyester
Aromatic Polyester
By Product Type :
Bio-based Polyethylene Terephthalate (PET)
Polylactic Acid (PLA)
Polytrimethylene Terephthalate (PTT)
Polyglycolic Acid (PGA)
Monoethylene Glycol (MEG)
Polyhydroxybutyrate (PHB)
By End-Use Industry :
Medial/Pharmaceuticals
Drug Delivery Systems
Wound Closure
Surgical Sutures
Implants
Tissue Engineering
Textiles
Automotive
Agriculture
Soil Retention Sheathing
Others
Packaging
Disposable Cup Manufacturing
Waste Bag Manufacturing
Others
Others
Competitive Landscape

Top bio-based polyester manufacturers are BASF, Biomer, Corbion, Dupont, Gevo, Mitsui, NatureWorks, Novamont, Novomer, Perstorp, Solvay, Teijin Ltd., and Toray Industries Inc.

The focus of major companies should be on resource and cost optimization, which will reduce incidental costs and increase the firm's total profitability. Leading producers of bio-based polyesters should collaborate with end users, including medical and packaging companies, to increase their volume sales.

Fact.MR has provided detailed information about the price points of key manufacturers of bio-based polyesters positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

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Key Takeaways from Bio-based Polyester Market Study

By product type, bio-based polyethylene terephthalate is projected to provide an absolute $ opportunity of US$ 4.67 billion over the forecast period (2022-2032).
Bio-based polylactic acid is anticipated to account for 18.1% market share by 2032.
By nature, utilization in aromatic polyester production is anticipated to reach US$ 6.54 billion in market value by 2032.
North America is projected to capture around 29% of the global bio-based polyester market share by 2032.
Europe is expected to provide an absolute dollar opportunity worth US$ 2.77 billion by 2032-end.
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