Bio-sources polymers are derived from biological sources such as algae, microorganisms, and plants. As everyday items like plastics bags are becoming more difficult to use due to growing regulations, manufacturers are looking for new ways to be environment-friendly. This is a major opportunity for the bio-sourced polymers market.
Bio-sourced polymers would help resolve some major challenges leading to environmental degradation such as soil pollution, water pollution, and various health hazards for humans. The growth of the bio-sourced polymers market is in its nascent stage. Currently, major players in the bio-sourced market are working towards maximizing manufacturing capacity. The prospects of the bio-sources market are bright as polylactic acid and polyhydroxyalkanoate are rising in demand and likely to replace many petroleum-sourced polymers.
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Some notable developments in the market are mentioned below:
• Arkema, a global player in the chemical market decided to increase its bio-based polyamide capacity by 25% due to dwindling supply of fossil resources. The company launched a mega project to complete this expansion and to meet a rising demand in Asia Pacific. The strategic move by the company is in line with the global currents which promise a lucrative growth for the bio-sourced polymers market in the near future.
• Similarly, Archer Daniels Midland Co. (ADM) and DuPont Industrial Biosciences have collaborated to open the first global bio-sourced dicarboxylic methyl ester production facility in 2018.
• In 2012, Ford Motor Company, Coca-Cola Company, Nike Inc., H.J.Heinz Company, and Procter & Gamble announced a collaboration to expand the production of bio-sourced PET technology. The production plant aimed to manufacture 100% plant-based PET plastic products. The results of this were extremely positive and encouraging for the bio-sourced polymers market. Consequently, the Coca-Cola Company expanded the project to all its major facilities around the world.
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