According to the latest report by IMARC Group, titled "Bio-Based Polyethylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global bio-based polyethylene market is expected to grow at a CAGR of 5.27% during 2022-2027. Bio-based polyethylene (bio-PE) is a regenerative alternative to fossil polyethylene (PE). It is generally manufactured from renewable raw materials, including sugar cane, rice, corn, wheat, potatoes and vegetable oil. Its production process includes several steps, such as the extraction of sucrose from feedstocks, fermentation of sucrose to obtain ethanol, and the distillation of ethanol to obtain low and high degree of short-branching polymers. There has been a considerable rise in the utilization of bio-based polyethylene across the globe due to its numerous advantages, such as its unique potential for carbon neutrality, sustainability and similar properties as its conventional plastics.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Bio-Based Polyethylene Market Trends:
The global market is primarily driven by the growing environmental concerns among the masses. This is supported by the increasing emphasis on the adoption of compostable plastic materials in the production of bottles and containers. Since bio-based polyethylene help in reducing the consumption of fossil fossils, this is creating a positive market outlook. Along with this, numerous initiatives undertaken by the government of several countries by implementing stringent rules and regulations on account of enhanced focus on sustainable development are contributing to the uptake and production of bio-based PE across the globe. Furthermore, continual technological advancements in the production processes are also acting as major growth-inducing factors. The market is further driven by the rising adoption of bio-based packaging solutions for cosmetics, food and beverages, medical equipment and fast-moving consumer goods (FMCG). Other factors, including rapid urbanization, the growing awareness regarding eco-friendly product variants and packaging solutions, and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.
- On the basis of the type, the market has been segmented into HDPE, LLDPE and LDPE.
- Based on the material, the market has been bifurcated into rigid and flexible.
- On the basis of the application, the market has been classified into agriculture, food and beverages, cosmetics and household care, personal care, textiles, pharmaceuticals and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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.
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