Castor Oil-Based Biopolymer Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Polymer Type (Bio-Polyamides, Bio-Polyurethane, and Others) By Form (Pellets, Yarns, and Others) By End User (Automotive, Solar, Household Appliances, and Others), By Region and Competition 2018-2028
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCastor Oil-Based Biopolymer Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Polymer Type (Bio-Polyamides, Bio-Polyurethane, and Others) By Form (Pellets, Yarns, and Others) By End User (Automotive, Solar, Household Appliances, and Others), By Region and Competition 2018-2028
In 2018, consumer goods accounted for a 28% share of the total global demand for bio-based polymers.
Additionally, the growing trend to minimize non-degradable polymer usage and adopt sustainable alternative solutions in the different sectors is further expected to drive market growth. Castor Oil-Based Biopolymer is a degradable, lightweight, chemical, and abrasion resistance material.
Furthermore, the increasing demand from the textile industry, oil & gas sector, household applications, and others are the crucial factors that propel the market’s growth. Various companies and research organizations operating in the market also focus on developing such eco-friendly products. This, in turn, is expected to create huge prospects for market growth in the coming years.
Rising demand from the Automotive Industry
Demand for environment friendly biopolymer products is anticipated to rise due to increased public awareness worldwide and strict government restrictions aimed at promoting a carbon-neutral economy. Moreover, the expansion of market innovations is anticipated to be aided by expanding R&D efforts and rising spending.
For instance, according to OICA, the manufacturing of light commercial vehicles grew to 18,593,846 units in 2021, up from 17,217,990 units in 2020.
Increasing demand from various end-user
Characteristics such as easy processing, chemical resistance, abrasion resistance, toughness, and dimensional stability is resulting in the demand from various end users.
Bio-Polyamides
Different properties such as high thermal conductivity, high stiffness, flame resistance, low moisture assimilation, high specific strength, superior impact resilience, and chemical stability attributed to polyamide make it superior in the biopolymer. Moreover, weight reduction continues to be a significant factor in significantly reducing fuel efficiency. These factors are anticipated to increase the use of bio-polyamides in the forecast years.
Recent Developments
- In October 2022, A polyester-based headrest cover called "Ultrasuede
nu" was created by Toray Industries, Inc. The cover is made up of
three different structuresscrim, elastomer, and ultra-fine fibers.
Polyurethane substance based on castor oil makes up the elastomer.
- Arkema has benefited from robust growth for its biobased
Pebax® Rnew® grades, derived from renewable castor beans in September
2022.
- Nylon grade (N510) fiber, created using only plant-based fiber, has been made commercially available, according to Toray Industries, Inc. in January 2022.
- In October 2021, a new bio-based polyamide 11 powder plant opened in China, according to an announcement by Arkema.
Market Segmentation
Global Castor Oil-Based Biopolymer Market
Company Profiles
BASF SE, Toray Industries, Inc., Arkema S.A., Solvay S.A., Evonik Industries AG, Mitsui Chemicals Inc., DuPont de Nemours, Inc., EMS-Chemie Holding AG, Fulgar SpA, Koninklijke DSM N.V. are some of the key players of Global Castor Oil-Based Biopolymer Market.
Attribute | Details |
Base Year | 2022 |
Historic Data | 2018 – 2021 |
Estimated Year | 2023 |
Forecast Period | 2024 – 2028 |
Quantitative Units | Revenue in USD Million, Volume in Metric Tonnes, and
CAGR for 2018-2022 and 2023-2028 |
Report coverage | Revenue forecast,
volume forecast, company share, competitive landscape, growth factors, and
trends |
Segments covered | Polymer Type Form End User |
Regional scope | North America,
Europe, Asia Pacific, South America, Middle East & Africa |
Country scope | United States; Mexico; Canada; France; Germany; United
Kingdom; Spain; Italy; China; India; South Korea; Japan; Australia; Brazil;
Argentina; South Africa; Saudi Arabia; UAE |
Key companies profiled | BASF SE,
Toray Industries, Inc., Arkema S.A., Solvay S.A., Evonik Industries AG,
Mitsui Chemicals Inc., DuPont de Nemours, Inc., EMS-Chemie Holding AG, Fulgar
SpA, Koninklijke DSM N.V. |
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Addition or alteration to country, regional & segment scope. |
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