In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
A polymer is a repeated unit of monomers. It contains addition of small units of molecules by chemical process. Natural polymers are type of polymers that are made by natural sources such animals, plants and micro-organisms. Natural polymers are compounds which are synthesized by addition polymerization or condensation polymerization. Polymers that are derived from natural sources contain the natural properties and are biologically developed. Some of the natural polymers include cellulose, DNA, RNA, starch and fermentation, protein polymers, marine polymers, silk and wool. Cellulose is the most important type of the natural polymer and its main application is in textile, medical, food and beverage, paper and pulp industry. Natural polymers are renewable, non-toxic, economical and available in huge quantity. These properties made them easily usable for various medical purposes.
The global natural polymer market is anticipated to expand at a CAGR around 5.6% during 2018-2027. It is projected to reach significant market size by 2027. The economical, non-toxic and biodegradable nature of the natural polymer is anticipated to increase the market growth of the global natural polymer market during the forecast period.The global natural polymer market can be segmented on the basis of product type and application. On the basis of product type, it is sub-segmented into protein-based polymers, exudate & vegetable gums, cellulose ethers and marine polymers. Cellulose ethers sub-segment is anticipated to be the largest sub-segment on the account of wide application in various industries such as food, beverage, packaging and pharmaceutical industry. On the basis of application it is sub-segmented into food & beverages, pharmaceutical, construction, oilfield, packaging, cosmetic & personal care products, textiles and others. Packaging industry is anticipated to be the developing growing sub-segment. This is attributed to the fact of the increasing use of polymer in packaging industry on the account of non-toxic and biodegradable nature. Additionally, the growing pharmaceutical industry is also increasing the use of the natural polymers in drugs, treatment of joints and wound dressing.
By region, global natural polymer market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to lead the global natural polymer market on the account of increasing application of the natural polymer in the various application industries such as food & beverages, construction, pharmaceutical and oilfield. Asia-Pacific is anticipated to be the fastest developing region for the global natural polymer market on the account of rising population and rapid industrialization. Moreover, the rising demand for the natural polymer from the construction industry is also major factor for the expansion of the global natural polymer market during the forecast period.
Our in-depth analysis segmented the global natural polymer market in the following segments:
Global natural polymer market is further classified on the basis of region as follows:
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The rising demand for the natural polymer from the various applications on the account of its eco-friendly, non-toxic and biodegradable nature is anticipated to drive the global natural polymer market during the forecast period. Additionally, the increasing demand for the non-biodegradable petroleum products coupled with the volatile prices of the crude oil is the major growth driver for the global natural polymer market. The increasing investment in research and development by companies operating in the natural polymer market in order to develop various types of polymers is anticipated to further drive the global natural polymer market. The other factors anticipated to support the market growth are no side-effects related to natural polymer in comparison to other polymers.
However, stringent government regulations regarding the deforestation and safety of animals are anticipated to act as a restrain for the global natural polymer market. The availability of alternatives of natural rubber such as natural rubber also hinders the growth of global natural polymer market.