Press release
Bio-Based Ethylene Market Trends, Industry Share, Growth Drivers, Business Opportunities, and Demand Forecast to 2028
The global Bio-Based Ethylene Market was valued at US$ 414.34 million in 2019 and is projected to be worth US$ 718.32 million by 2028, growing at a CAGR of 6.4% during the forecast period.Bio ethylene can be produced from biomass feedstock used for bio ethanol. Bio ethylene is now well known since it is used as a transportation fuel. Different types of natural resources such as sugars (sugarcane, sugar beets, and sweet sorghum), starch (corn and wheat), and lignocellulosic biomass (wood and grass), are used as raw materials in the production process. Bio ethylene is gaining importance from fuel additives, packaging, and detergent producing manufacturers. Industries looking for bio-based materials highly prefer utilizing bio ethylene in their products.
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Analysis of the Top Market Players:
1. Braskem S.A.
2. The Dow Chemical Company
3. LyondellBasell Industries Holdings B.V.
4. SABIC
5. Enerkem
6. Linde
7. Shell Global
8. TotalEnergies
9. Axens
10. Sigma-Aldrich
In this report, the market has been segmented on the basis of:
Raw Material (Sugars, Starch, and Lignocellulosic Biomass)
End-User Industry (Packaging, Detergents, Lubricant, and Additives)
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Based on raw material, the global bio-based ethylene market is segmented into sugars, starch, and lignocellulosic biomass. The sugars segment led the market with the largest share in 2019. Bio ethylene is produced from bioethanol, which is a liquid biofuel widely utilized in the transportation sector. Sugar from sugarcane is a highly utilized raw material while producing bio ethylene, mainly in India and Brazil. In Brazil, production of bioethylene is economically competitive, owing to the wider availability of cheap sugarcane feedstock. Sugarcane, sugar beets, and sweet sorghum are quite easy to break down since the sucrose is a disaccharide, which can be further directly fermented into bio ethanol utilizing yeast. Sugar based bio-ethylene production is estimated to save about 60% of fossil energy as compared to petrochemical production since the process can further produce electricity. The production cost of sugarcane-based bio-ethylene is also very low. The greenhouse gas emissions caused by using fossil fuel can also be minimized by utilizing bio ethylene in the petrochemicals industry. Due to these benefits, most of the industries are adopting bio ethylene for various applications.
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