The global biopharma plastics market is poised to reach a valuation of US$ 5.42 billion in 2023. In 2033, the market’s valuation was reached around US$ 15.95 billion. It is predicted to register a healthy CAGR of 11.4% until the end of the forecast period.
Depth filters, syringes, and containers are among the applications that benefit from biopharma plastics’ increased stability. The market has grown due to an increased demand for using premium polymers to manufacture single-use biopharma plastics.
The biopharma plastics and polymers market is anticipated to be driven by rising healthcare costs and health concerns. Additionally, substantial PP molding facilities and the manufacturing industry are anticipated to fuel market expansion throughout the anticipated time frame.
Industry players who are extensively spending in R&D to create biopharmaceutical goods that cater to all customer needs are driving the market for biopharma plastics. Due to the presence of major producers of biopharma plastics, including Celanese Corporation, Eastman Chemical Co., and DuPont, in the region, North America dominates the market for these materials. Due to the expanding governmental support and advantageous reimbursement policies for medical equipment, Europe is the second-largest shareholder in the industry.
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Key Takeaways from the Market Study
- As of 2023, the biopharma plastics market was valued at US$ 5.42 billion.
- From 2023 to 2033, the biopharma plastics industry is poised to grow at an 11.4% CAGR.
- By 2033, the biopharma plastics market is slated to reach a valuation of US$ 15.95 billion.
- By polymer type, the polyvinyl chloride segment accounted for the largest share of 21.5% and is expected to continue this trend over the forecast period.
- China is poised to yield a CAGR of 11.3% with respect to biopharma plastics in 2033.
“Growing healthcare spending and increasing application of biopharma plastics are expected to radically transform the biopharma plastics market in the coming years,” comments an analyst at FMI.
Competitive Landscape
The manufacturers are involved in the production of biopharma plastics in a larger capacity. Research and innovation are also conducted to launch innovative plastics for biopharmaceutical products.
Some of the key players are acquiring small pharmaceutical companies to increase their production capacity.
- In September 2022, LyondellBasell announced today that Hanwha Solutions Corporation used the LyondellBasell Lupotech T high-pressure polyethylene technology at a new site in Yeosu, South Korea. The Lupotech T process technology will be used for a 300 kiloton per year (KTA) vinyl acetate copolymer (EVA) line.
- In July 2022, DuPont celebrated the opening of its new DuPont
Liveo
Healthcare Solutions manufacturing facility located at the Cooper River Site in South Carolina. The new facility will expand capacity for biopharmaceutical tubing extrusion to meet increased demand from Liveo
customers - In October 2021, Tekni-Plex Healthcare acquired precision extrusion manufacturer Johnson Plastic Group (JPG) as part of a strategy to expand the company’s patient care solutions platform. The acquisition expands Tekni-Plex Healthcare’s medical device capabilities and broadens the division’s global footprint by adding a presence in Mexico.
- In November 2022, Solvay, a leading supplier of advanced materials, has teamed up with French start-up Ostium in a joint project designed to enable the mechanical recycling of end-of-life single-use surgical instruments molded in glass-fiber reinforced Ixef® polyarylamide (PARA) from Solvay’s portfolio of specialty polymers.
Key Companies Profiled
- BASF SE
- LyondellBasell Industries Holdings B.V.
- SABIC
- LG Chem
- Toray Industries Inc.
- Solvay
- Dow Inc.
- DuPont de Nemours Inc.
- Saint-Gobain Performance Plastics
- Tekni-Plex
- Chevron Phillips Chemical Co. Ltd.
- ExxonMobil Corporation
- Formosa Plastics Corporation
- Covestro AG
- TEIJIN LIMITED
- Mitsui & Co. Plastics Ltd.
- INEOS Group
- CHIMEI
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More Valuable Insights Available
FMI, in its new offering, presents an unbiased analysis of the biopharma plastics market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the Biopharma Plastics Market by Polymer Type (Polyethylene – PE, Polypropylene – PP, Acrylonitrile Butadiene Styrene – ABS, Polyethylene Terephthalate – PET, Polyvinyl Chloride – PVC, Polytetrafluoroethylene – PTFE, Other) by Application (Protective wear, Container, Bioreactor Bags, Syringes, Depth Filter, Disposable Medical Connectors, and Others) and Region.
Key Segments Covered in the Biopharma Plastics Market Industry Survey
By Polymer Type
- Polyethylene – PE
- Polypropylene – PP
- Acrylonitrile Butadiene Styrene – ABS
- Polyethylene Terephthalate – PET
- Polyvinyl Chloride – PVC
- Polytetrafluoroethylene – PTFE
- Others
By Application
- Protective Wear
- Container
- Bioreactor Bags
- Syringes
- Depth Filter
- Disposable Medical Connectors
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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FMI’s Domain Knowledge in Chemicals & Materials
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Our expertise in recognizing the challenges and trends impacting the global chemical & material industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
About the Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
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