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Bio-based polyethylene (PE) Market Size
- Report ID: GMI4333
- Published Date: Feb 2023
- Report Format: PDF
Bio-based polyethylene Market Size
Bio-based Polyethylene Market size exceeded USD 500 million in 2022 and is poised to depict a 15% CAGR between 2023 and 2032, due to the high preference for sustainable packaging materials.
In order to reduce fossil fuel consumption, manufacturers are increasing their emphasis on the development of eco-friendly alternatives to conventional plastics. For instance, Henkel has announced plans for a 50% reduction in the usage of fossil-sourced virgin plastics in consumer packaging products by 2025. Such initiatives are expected to boost the acceptance of sustainable packaging materials and consequently promote bio-based polyethylene market expansion.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Bio-based Polyethylene Market Size in 2022: | USD 500 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 15% |
| 2032 Value Projection: | USD 1.9 Billion |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 238 |
| Tables, Charts & Figures: | 245 |
| Segments covered: | Raw Material, Product, End-user, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Bio polyethylene also offers the same technical advantages and appearance as traditional PE and is thus gaining traction as a key sustainable packaging material across the food industry. The thriving food processing sector will also proliferate the use of food-grade packaging solutions and create lucrative growth opportunities for bio-based PE developers. However, the availability of alternatives including bio-based polypropylene may create roadblocks to the business expansion.
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Bio-based Polyethylene Market Scope
