Bio-based Polyethylene Market 2021 Growth Analysis by Manufacturers, Size, Historic Growth, Trends, Strategies, Forecast By 2027

Bio-based Polyethylene Market 2021 Growth Analysis by Manufacturers, Size, Historic Growth, Trends, Strategies, Forecast By 2027

Global bio-based polyethylene market share is anticipated to grow exponentially by 2027.

There has been a growing utilization of bio-based polyethylene in packaging applications across various industries. Bio polyethylene or renewable polyethylene is basically made from ethanol. However, it can also be made from various feedstocks such as sugar cane, wheat grain, and sugar beet.

Bio polyethylene possesses the same characteristics, application versatility, recyclability, and performance as fossil-based plastics. Owing to this reason along with the eco-friendly nature, renewable polyethylene is slowly replacing petroleum-based plastics for applications in rigid and flexible packaging, bags, closures, films, and other products.

The industry, based on application is classified into flexible and rigid packaging. The flexible packaging application segment is predicted to grow significantly owing to its utilization in pouches, bags, tubes, shrink films, sleeves, and carded packaging.

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The utilization of bioplastics in flexible packaging solutions enhances its physical property and makes it highly applicable in various applications. Cost-effectiveness, great durability, and product protection are some of the benefits of flexible packaging augmenting its demand in various end-use industries.

The rising concerns about the growing amount of plastic wastes and their impact on nature have led to the introduction of various synthetic and nature-friendly plastics in a view to reducing the effects of fossil-based polyethylene. Plastic is extensively used in packaging solutions for food, drugs, and cosmetics.

In developed countries like the U.S., government authorities have regulated the usage of plastics in packaging material to preserve consumer health safety and emphasizing on utilizing recyclable and sustainable materials in packaging solutions. The presence of such initiatives is likely to influence industry expansion in the coming years.

Bioplastics or green PE facilitate in reducing greenhouse gas emission, saving fossil fuels, and reclamation of by-products. Its contribution towards the improvement of the environmental impact of products can be referred to as the usage of renewable resources for reducing fossil fuel consumption and emissions, and their biodegradable nature enabling the reduction of waste material. As reported by European Bioplastics, global bioplastics production capacities are projected to be nearly 2.87 million tons by 2025.

Based on the end-user industry, the bio polyethylene market categorized into cosmetics, food, agriculture, pharmaceuticals, and textile industries. The food industry heavily relies on packaging solutions for various purposes.

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The market share from the food industry is expected to grow exponentially, on account of a growing trend of online food delivery. Increasing consumer expenses on food products and the presence of strict government norms for the utilization of renewable plastic materials in food packaging are likely to create significant demand for the product.

North America bio polyethylene industry will grow considerably in the forthcoming years, on account of the booming food & beverage industry in the country. Growing disposable income, significant demand for cosmetic products, and shifting trends towards packaged food are some key factors driving regional industry expansion. With the initiatives of the government to ban the use of petroleum-plastic and emphasis on bioplastics, the bio polyethylene sector is predicted to flourish in the region.

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