Biopolymers In Electrical & Electronics Market Size, Share & Trends Analysis By Type (Biodegradable, Non-biodegradable), By Application (Rechargeable Batteries, Wires & Cables), By Region, And Segment Forecasts, 2023 - 2030

Biopolymers In Electrical & Electronics Market Size, Share & Trends Analysis By Type (Biodegradable, Non-biodegradable), By Application (Rechargeable Batteries, Wires & Cables), By Region, And Segment Forecasts, 2023 - 2030

Biopolymers In Electrical & Electronics Market Growth & Trends

The global biopolymers in electrical & electronics market size is anticipated to reach USD 313.41 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 24.0% from 2023 to 2030. Rapidly increasing demand for biopolymers across the electrical & electronics manufacturers in line with the adaptation of green electronics for the manufacturing of their products is anticipated to propel the growth of the market.

Rapidly increasing amount of e-waste is a major global concern and is being addressed by various countries. Numerous companies have adopted the use of biopolymers to manufacture their electronic & electrical products and have included them as a part of their sustainability goal. In addition, a rising number of environmental conservation awareness programs are being carried out, keeping both consumers and electronic device manufacturers well-informed regarding the rapid growth of e-waste.

Furthermore, with technological advancement manufacturers are rapidly progressing for developing and launching new products, joint ventures, and other strategic initiatives. For instance, in February 2023, companies including Fraunhofer WKI, Fraunhofer IAP, crosslinking service provider BGS and other industrial partners initiated a joint venture for developing bio-based flame retardant to be used across the electrical & electronics industry.

Biopolymers In Electrical & Electronics Market Report Highlights

• The Asia Pacific market was valued at USD 36.05 million in 2022 and is expected to grow at a CAGR of 24.2% from 2023 to 2030.
• Expanding composting infrastructure and rising governmental efforts to reduce landfilling are anticipated to augment the demand for biopolymers across the electrical and electronics industry over the forecast period.
• Rising concerns for environment protection has propelled the manufacturers to introduce the utilization of biopolymers for the manufacturing of their applications.
• Wires & cables across the application segmentation dominated the market in terms of revenue share of above 42.0% in 2022, followed by panel displays, and electronic device casings.

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