Bio-Based Polyethylene Industry Market Growth Opportunities 2022
The global bio-based polyethylene industry market size was valued at 1.54 billion in 2021 and poised to grow at a CAGR of 5.3% during the forecast period 2022-28. The global market report aims at providing historical, current, and future market sizes (US$ Mn) on the basis of raw materials, application and regions. This report studies global market dynamics elaborately to spot the current trends & drivers, future opportunities and possible challenges to the key stakeholders working in the market. Moreover, global market report includes regulatory scenario, human demographics and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
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The bio-based polyethylene material is hugely used for developing different packaging products in various industries including food & beverages, pharmaceuticals, homecare & personal care, automotive and others. Among these sectors, automotive industry poses the leading sector for the application of bio-based polyethylene. Growth in this sector can be attributed to the increasing worries about the greenhouse gas which leads to the growing demand for eco-friendly automotive products including battery cases, dashboard components and vehicle covers. Development of 100% petroleum-free automotive plastics for the manufacturing of compatible cars has led to the growing demand for bio-based polyethylene. Increasing focus on sustainable packaging is estimated to be significant factor for bio-based polyethylene industry. But, vagueness on the subject of the availability of raw materials is anticipated to hinder the growth of market.
The global bio-based polyethylene industry market segmentation:
- By Application: Textile, Packaging, Electronics, Automotive
- By Raw Material: Starch, Sugar, Vegetable Oils
Asia Pacific accounted for significant share in the Bio based Polyethylene Industry Market
Global bio based polyethylene industry market report aims at providing complete outlook on bio based polyethylene industry around the globe with special emphasis on major regions including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Among these regions, Asia Pacific is expected to hold a significant share in the market. In terms of market value, the region is anticipated to grow at a CAGR of XX% during future period. Growing bio-derived PET production capacity by top manufacturers in China and India is a major driver for the market growth in this region. Moreover, high consumption of fizzy soft drinks and alcoholic beverages is expected to upsurge the growth in this region. North America holds a notable position in the market owing to technological advancements. Stringent environmental regulations have generated a demand for these products in the European regions thereby, escalating the market growth in this region.
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Competitive Analysis - Bio based Polyethylene Industry Market
Major players working in the bio-based polyethylene industry market are The Dow Chemical Company, Braskem Inc. Ltd., Cereplast Inc. and Toray Industries.
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