Bio-Based Polyethylene Market

Market Overview:

The global bio-based polyethylene market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Bio-based polyethylene (bio-PE) refers to a thermoplastic polymer compound that is manufactured through synthesizing ethylene monomer with dehydrated bioethanol derived from various feedstocks, including sugarcane. It is recyclable, eco-friendly, and a sustainable alternative to its chemical or petroleum-based conventional counterparts. Apart from this, bio-based polyethylene is lightweight, long-lasting, and corrosion-resistant, due to which it is extensively used by industries for packaging cosmetics, household goods, pharmaceutical products, edible oils, and food and beverages. At present, bio-based polyethylene is commercially available in high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE), and low-density polyethylene (LPDE) types.

Bio-Based Polyethylene Market Trends:

The rising environmental concerns and awareness amongst consumers regarding the detrimental effects caused by conventional plastic materials have prompted governments of various nations to promote the uptake of sustainable packaging solutions with a higher recyclable rate. This, in turn, is facilitating the widespread adoption of bio-based polyethylene (PE) across several industrial verticals in the form of carry bags, bottles, plastic films, and containers for packing various consumer goods, which represents a prime factor driving the market growth. Moreover, the increasing need for carbon-free products to mitigate fossil fuel depletion and greenhouse gas (GHG) emissions is acting as another growth-inducing factor. In line with this, significant technological advancements in hydraulic fracturing procedures have resulted in the rise of shale gas formations that supply as a feedstock for manufacturing polymers, is supporting the market growth. Additionally, the implementation of global wide lockdown has supplemented the usage of e-commerce platforms to order multiple products, which is further fueling the demand for sustainable packaging materials, such as bio-based polyethylene, thus propelling the market growth. Other factors, such as strategic collaborations amongst key players and extensive investments in research and development (R&D) activities to engineer high-performance, recyclable, and non-toxic polymers, are creating a positive outlook for the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bio-based polyethylene market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, material and application.

Breakup by Type:

• HDPE
• LLDPE
• LDPE
   

Breakup by Material:

• Rigid
• Flexible
   

Breakup by Application:

• Agriculture
• Food and Beverages
• Cosmetics and Household Care
• Personal Care
• Textiles
• Pharmaceuticals
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema S.A., Avery Dennison Corporation, Braskem, Dow Inc., Exxon Mobil Corporation, LyondellBasell Industries N.V., Plantic Technologies Ltd (Kuraray Co. Ltd), PTT Global Chemical Public Company Limited, Saudi Basic Industries Corporation (Saudi Aramco), Sealed Air Corporation, Solvay S.A., TotalEnergies SE and Tricorbraun Inc.

Report Coverage: