Increase in consumer awareness of the environmental impact of petroleum-based polymers and rise in government regulations to reduce greenhouse gas emissions are the driving factors of global bio-based polymer market. In addition, favorable government regulations and initiatives like Lead Market Initiative (UK) and Bio Preferred boost the use of bio-based products, which correspondingly increases the demand for global bio-based polymer market products during the forecast period. However, high cost to end user and cheaper rates of petroleum feedstocks are estimated to hamper the growth of the global bio-based polymer market. Furthermore, increasing investment in R&D for product developments in niche applications is expected to offer a key opportunity for market growth.
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