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Castor Oil-Based Biopolymer Market - A Global and Regional Analysis

Focus on End User, Polymer Type, Form, and Region - Analysis and Forecast, 2022-2031

 
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The market study conducted by BIS has considered the definition of biopolymer as provided by the U.S. International Trade Commission (USITC), “Biopolymer is a polymer comprised, at least in part, of building blocks called monomers, which are produced in a biorefinery from renewable feedstocks. Castor oil-based biopolymers are polymers derived from castor oil. The key benefits of castor oil-based biopolymers are advanced chemicals and mechanical properties of products, such as lightweight, excellent chemical resistance, and toughness. As the products are made from non-edible oil, it further eliminates dependency on edible plant-based products. The castor oil-based biopolymer is showing rising popularity in automotive, household appliances, and textile, among other end users.

Increasing development of eco-sustainable biopolymers favors the increased utilization in several end-user applications, such as automotive and textile, as compared to regular petroleum-based polymers. Moreover, the developments of sustainable castor oil-based biopolymer for several industries by key castor oil-based biopolymer manufacturers such as Arkema, BASE SE, Evonik Industries AG, and Toray Industries, Inc., are expanding growth prospects for the global castor oil-based biopolymer market.

Castor oil-based biopolymer market has seen major developments by key players operating in the market, such as product development, business expansions, collaborations, joint ventures, and partnerships. According to BIS Research analysis, most of the companies preferred product development, establishment of new production facilities, and collaboration as a strategy to further increase their growth in the global castor oil-based biopolymer market. Companies such as Toray Industries, Inc., Evonik Industries AG, and Arkema have mainly adopted the strategies such as product development and business expansion.

A new entrant can focus on the development of new products coupled with offering several sustainable lightweight biopolymer products to a wide range of end-user industries, including automotive, textile, and household appliances, among others. The demand in the automotive industry is expected to be high owing to the rising adoption of castor oil-based biopolymers in several auto components such as quick connectors, fasteners, friction pads, and fuel lines.

The following can be termed as some of the USPs of the report:

§ Extensive competitive benchmarking of 20 key players to offer a holistic view of the global castor oil-based biopolymer market landscape

§ Market segregation based on polymer type, form, and end user

The companies that produce and commercialize castor oil-based biopolymers and end-user sectors, research institutions, and regulatory bodies involved in the global castor oil-based biopolymer market should buy this report.

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