Bio-Based Polyethylene Market To Reach US$ 2.1 Billion by 2028

How Big is the Bio-Based Polyethylene Market ? :

IMARC Group's latest report, titled "Bio-Based Polyethylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", 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.

What are Bio-Based Polyethylene and Uses ? :

Bio-based polyethylene (bio-PE) represents a type of thermoplastic polymer compound produced by combining ethylene monomer with dehydrated bioethanol sourced from various feedstocks, such as sugarcane. It serves as an environmentally friendly and sustainable alternative to traditional chemical or petroleum-based variants. Bio-based polyethylene is commercially available in three types, including high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE), and low-density polyethylene (LPDE).

In addition to this, this thermoplastic polymer compound possesses recyclability and exhibits lightweight, durable, and corrosion-resistant properties. As a result of these characteristics, bio-based polyethylene is highly suitable for packaging applications in several sectors, such as cosmetics, household goods, pharmaceuticals, edible oils, and food and beverage (F&B).

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Who are the key Players Operating in the Industry ? :

• 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
• Tricorbraun Inc

What are the Growth Prospects and Trends in the Bio-Based Polyethylene Industry ? :

The increasing awareness among consumers toward the adverse environmental impact of conventional plastic materials and the launch of several policies by the government bodies across countries to encourage the usage of sustainable packaging solutions with higher recyclability rates are primarily driving the bio-based polyethylene market. Besides this, the escalating product demand across various industry verticals for packing consumer goods, such as carry bags, bottles, plastic films, and containers, is further augmenting the market growth. Moreover, the rising need for carbon-neutral products to address concerns regarding fossil fuel depletion and greenhouse gas (GHG) emissions is also catalyzing the global market.

Apart from this, advancements in hydraulic fracturing techniques, leading to the availability of shale gas as a feedstock for polymer production, are acting as significant growth-inducing factors. Additionally, the extensive utilization of e-commerce platforms for purchasing various products, on account of the global lockdown measures, is also stimulating the market growth. Furthermore, strategic collaborations among the leading players for the development of high-performance, recyclable, and non-toxic polymers are anticipated to propel the bio-based polyethylene market over the forecasted period.

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Key Market Segmentation:

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, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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