According to the latest research report by The Insight Partners Bio-Based Ethylene market was valued at US$ US$ 414.34 million in 2019 and is projected to reach US$ 718.32 million by 2028; it is expected to grow at a CAGR of 6.4% from 2020 to 2028. The report highlights key driving factors and prominent market players along with their developments in the market.
Check for the sample here – https://bit.ly/3gqDocI
Need to Decrease Dependency on Fossil Fuels to Escalate Market Growth During 2020–2028Due to its use as a fuel for transportation, bio ethylene is now well-known. The production process uses a variety of natural resources as raw materials, including sugars (sugarcane, sugar beets, and sweet sorghum), starches (corn and wheat), and lignocellulosic biomass (wood and grass). Manufacturers of packaging, detergents, and gasoline additives are beginning to place more emphasis on bio ethylene. Utilizing bioethylene in products is widely preferred by industries looking for bio-based materials.
As a result of the widespread production of bioethanol from lignocellulose biomass, including wood, sugarcane, and maize starch, there is less dependence on fossil fuels and petroleum derivatives. Bio-ethylene is manufactured from bioethanol. A nation’s reliance on the importation of fossil fuels can be reduced by employing domestic resources to generate bio-based goods, which will boost the domestic economy.
Necessity for Diminishing Dependency on Fossil Fuels
A large number of chemical products utilised downstream use ethylene as a feedstock. One of the biggest bulk chemicals, it is heavily utilised in the manufacture of plastics. Ethylene has numerous uses, thus its demand is expected to increase over the next few years. The production of ethylene traditionally involves petroleum derivatives, which contributes to the depletion of fossil fuels. Biomass feedstock is viewed as a trustworthy solution for overcoming this issue in the production of bio-based ethylene. As a result of the widespread production of bioethanol from lignocellulose biomass, including wood, sugarcane, and maize starch, there is less dependence on fossil fuels and petroleum derivatives. Bio-ethylene is manufactured from bioethanol.
The market for Bio-Based Ethylene is concentrated with some very well-established players. Some of the key players in the Bio-Based Ethylene Market include
- Braskem S.A.
- The Dow Chemical Company
- LyondellBasell Industries Holdings B.V.
- SABIC
- Enerkem
- Linde
- Shell Global
- TotalEnergies
- Axens
- Sigma-Aldrich
Bio-Based Ethylene Market is Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
Thanks for reading this article; you can also customize this report to get select chapters or region-wise coverage with regions such as Asia, North America, and Europe.
ABOUT US:
The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact US:
If you have any queries about this report or would like further information, please contact us:
North America: +1 646 491 9876
Asia-Pacific: +91 20 6727 8686
Email: [email protected]