In Texas, SNS Insider reported that the bio-based polymers market is projected to reach a valuation of $46.93 billion by 2032, growing at a compound annual growth rate (CAGR) of 17.04% from 2024 to 2032.
“The increase in the arket is primarily driven by the growing number of environmental-aware consumers and also the more stringent government rules and regulations in terms of carbon emissions and plastic waste. Bio-based polymers which are sourced from renewable resources uch as starch, cellulose, polylactic acid (PLA), or polyhydroxyalkanoates (PHA) are increasingly pursued as substitutes for conventional petroleum-based plastics,” the report said.
“Europe held the largest market share of approximately 42% in 2023. Due to stable regulatory support, advancing consumer awareness, and considerable nvestments in sustainable materials. Policies enforced by the European Union like the Single-Use lastics Directive and the Green Deal have driven the uptake of bio-based polymers across the board,” it added.
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