Global bio-based polymers are expected to grow at a compound annual rate of 4% by 2023

Recently, the European research institute nova-Institute released a report on global bio-based monomer and polymer capacity, production and trends for 2018-2023. According to the report, the total global production of bio-based products in 2018 will be about 7.5 million tons, reaching 2% of fossil-based polymers, with great potential for the future.
recent years, the production of bio-based polymers has become more specialized and differentiated,
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. So far, almost every fossil-based polymer has been used as a bio-based alternative. The capacity and production of bio-based polymers will continue to grow, with a compound annual growth rate of about 4% expected by 2023, almost equal to the growth rate of fossil-based polymers and plastics. As a result, the market share of bio-based polymers in total polymers will remain at around 2%.
increase in bio-based polymer production capacity is mainly based on the expansion of polylactic acid (PLA) production in Thailand and the expansion of propylene glycol phenylphate (PTT) and starch mixture production in the United States, especially PLA and starch mixtures will increase significantly. During this period, the production capacity of bio-based polyamide, polyethylene (PE), polypropylene (PP) and poly (hetdibutyl glycol-copolycobiate) (PBAT) in Europe will continue to expand. The high-profile PEF is expected to be commercialized and put on the market by 2023. Overall, the bio-based polymer market remains challenging in the face of low crude oil prices and some political factors.
two important advantages of bio-based polymers. The advantage is that bio-based polymers use biocarbons rather than fossil carbon, which is important for maintaining carbon balance in the atmosphere and curbing the greenhouse effect. The second advantage is that more than a quarter of bio-based polymers are biodegradable, so they can be a good solution for plastics ("white pollution") without leaving microplastics even when flowing into the environment.
if bio-based polymers are considered a good alternative to fossil-based polymers and promoted in a similar manner to biofuels, annual growth is expected to be 10 to 20 per cent. The same applies, of course, if the price of oil rises sharply. Some of the technologies of bio-based polymers have matured to gain considerable market share.
2018, the global bio-based monosome grew by 5%, with an increase of approximately 120,000 tons/year. It is predicted that by 2023, 1,3-propylene glycol (1,3-PDO), 1,4-butyl glycol (1,4-BDO), 1,5-pentamethyldiamine (DN5) and 2,5-furan methamphetamine (2,5-FDCA)/furan methamphetamine (FDME) are the main drivers.
bio-based polymers can be used in almost all market segments, but the amount of application of each polymer varies in detail. Consumer goods accounted for 28% of bio-based polymer applications in 2018 (mainly PUR, epoxy and PA), followed by construction (epoxy, PA, PUR) at 21%, and automotive and transportation with 19% (epoxy) Resin, PA, PUR), packaging (flexible and rigid) (PLA, PBAT, PE, PET, starch mixture), approximately 15%, and textiles (fabrics and nonwovens) (CA, PA, PLA, PTT), accounting for 11%. No significant change in market share is expected by 2023.