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Biopolymers are polymers that are naturally produced by living cells of organisms. They generally consist of monomeric units, that are covalently bonded to form larger molecules. There are main 3 classes of biopolymers classified according to the monomer used to form biopolymer: polynucleotides, polypeptides, and polysaccharides. Biopolymers are employed in various application areas such as food & beverages, industrial manufacturing, biomedical engineering and packaging.
Biopolymers are extensively used in pharmaceutical and biomedical sector due to its exceptional healing properties. Biopolymers can heal wounds of any size, shape and depth. Some of the biopolymers like chitosan, pectin, gelatin, and alginate are used to manufacture hydrogels that are used to create moist environment at the site of injury or wound further helping in dressing the wound. High demand for such hydrogels is expected to drive the market.
However, the manufacturing of these biopolymers is slightly higher which adds on to the cost of end-product. It also involves high initial investment for manufacturing. This is expected to hinder the market growth. Albeit, high demand from packaging sector for biopolymers is expected to act as opportunity.
Key Market Driver -
Increasing demand from biomedical sector.
Key Market Restraint -
Comparatively higher cost.
Based on type, the global Biopolymers market is segmented into polynucleotides, polypeptides and polysaccharides. Based on end-user, is segmented into biomedical, pharmaceutical, industrial, and other.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global Biopolymers market consists of global & regional players operating. Some of the key players in the market include BASF, Danimer Scientific, Total Corbion, FMC BioPolymer A.S, Sigma-Aldrich, Biome Technologies Ltd., Novamont SpA, NatureWorks LLC, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is anticipated to hold the major share in market attributed to the stringent regulation imposed by government authorities. North America is estimated to hold significant share and experience considerable growth by the end of forecast period. Asia Pacific is estimated to witness substantial growth attributed to the rapid industrialization. Also, the increasing need for controlling the pollution is expected to aid growth. Latin America and Middle East & Africa is likely to exhibit sluggish growth during the forecast period.
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