Global Castor Oil-Based Biopolymer Market to Reach $3.32 Billion by 2031 - Exclusive DeepTech M-A-P™ Analysis by BIS Research

The global castor oil-based biopolymer market is expected to benefit from the growing household appliances industry in developing economies owing to rising disposable income and increasing number of nuclear families, among others.

FREMONT, Calif., Jan. 12, 2023 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Castor Oil-Based Biopolymer Market - A Global and Regional Analysis. 

According to this study, the global castor oil-based biopolymer market was valued at $741.3 million in 2021 and is projected to reach $3.32 billion by 2031.

The following factors are responsible for the increase in demand for castor oil-based biopolymers:

• Growing automotive industry across the globe
• Rising demand for high-performance polyamide yarns in the textile industry
• Advanced chemical and mechanical properties of castor oil-based biopolymers

The detailed study is a compilation of 133 market data tables and 22 figures spread through 221 pages.

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Analyst's Take on the Market Projection

According to Sachin Singh, Lead Analyst, BIS Research, "Castor oil-based biopolymers play a significant role in automotive, textile, household appliances as well as other applications. Castor oil-based biopolymers have been adopted by these end users as they enhance the aesthetics, durability, chemical and abrasion resistance, and longevity of the substrates to which they are applied. Also, the expansion of the automotive industry, growing sustainable textiles industry, along with the demand from household appliances are anticipated to drive market growth over the forecast period."

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Bio-Polyamides Anticipated to be the Leading Polymer Type in the Market

The study from BIS Research suggests that among all the different polymer types, the bio-polyamides are anticipated to lead the market during the forecast period (2022-2031).

This can largely be attributed to the properties associated with bio-polyamides, such as high thermal conductivity, flame resistance, high stiffness, high specific strength, low moisture assimilation, superior impact resilience, and chemical stability. Additionally, weight reduction continues to be a significant factor in significantly reducing fuel efficiency. These elements are anticipated to boost the utilization of bio-polyamides.

Major Existing Industry Leaders in the Castor Oil-Based Biopolymer Market

The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are Arkema, Evonik Industries AG, BASF SE, EMS-Chemie Holding AG, Solvay S.A., Toray Industries, Inc., UNITIKA LTD., RadiciGroup, Fulgar SpA, DSM, DuPont de Nemours, Inc., Mitsui Chemicals Inc., Nexis Fibers, VAUDE Sport GmbH & Co. KG, EOS GmbH, AWAKE CONCEPT, NEUBAU EYEWEAR gmbh, Lanxess AG, BIO-FED, and Asahi Kasei Corporation.

Recent Developments in the Global Castor Oil-Based Biopolymer Market

• In October 2022, Toray Industries, Inc. developed "Ultrasuede nu," a polyester-based headrest cover. The cover is made up of three structures, including ultra-fine fibers, elastomer, and scrim. The elastomer is composed of castor oil-based polyurethane material. With the launch of Ultrasuede nu material, the company is focusing on the development of eco-conscious products and thereby enhancing its capabilities in a sustainable ecosystem.
• In January 2022, Toray Industries, Inc. announced the commercialization of nylon grade (N510) fiber, developed with the usage of 100% plant-based fiber. The product is predominantly used for athletic and outdoor fabrics, which also include compact snip textiles and embroidered components for garments.
• In October 2021, Arkema announced the establishment of a new bio-based polyamide 11 powder plant in China. The plant will commence production in the first quarter of 2023. The rising adoption of biopolymers in 3D printing and the company's strategic partnership with HP are expected to drive the demand for polyamide 11 powder over the forecast period.

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Exclusive DeepTech MAP^TM Analysis for Advanced Materials, Chemicals, and Fuels by BIS Research:

High-Performance Textile Market

About BIS Research: 

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals. 

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management. 

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