International. Bio-based polymers have been limited for niche specialty applications, but a new analysis from Lux Research estimates that the major markets for bio-based materials are largely the same ones that currently dominate petrochemical-based materials.
"Developers of 'bio-based' materials should aspire to large addressable markets, among which the largest are composites and coatings, manufactured industrial intermediates and packaging," said Kalib Kersh, an analyst at Lux Research and lead author of the report titled "Reducing the Divide Between Demand and Bio-Based Materials."
"To meet expectations, developers must bring cost parity, offer more bio-drop-in monomers, and close performance gaps in temperature distortion and fragility," he added.
Lux Research analysts examined the size of a wide range of potential markets to determine commercial appeal of 38 applications and 21 conventional and bio-based polymers. They found that coatings offer many opportunities to replace them with bio-based raw materials. In many cases significant improvements are offered, such as the elimination or reduction of VOCs.
Researchers also report that bio-plastics offer many opportunities. They can be made of biodegradable, recyclable energy and of lower energy intensity to proceed, making them difficult to overcome as disposables. Applications will include medical use, cutlery, cleaning, bags, shirts and bottles.
