FORT WORTH, Texas, June 9, 2015 /PRNewswire/ --
The bio-based polyethylene market report defines and segments the concerned market with analysis and forecast of revenue. It is estimated to grow to $751.9 million by 2019 at a CAGR 12.3%.
Browse through the TOC of Bio-Based Polyethylene Market for an analysis of industry trends and segments, with the help of various tables and figures.
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Bio-based polyethylene is a thermosetting polymer, which is produced from bio-based feedstock, for example sugarcane ethanol. It is basically used as an intermediate to manufacture plastics. The packaging segment accounts the largest share of this market. Bio-based packaging is primarily used for manufacturing medical devices & equipment, automotive interior, electronic housing, and others. The use of bio-based packaging offers better value in terms of functionality, quality, and performance.
Technological advancements in hydraulic fracturing, which is one of the feedstock for ethylene, would give polyethylene a price advantage as compared to bio-based polyethylene resins. Due to this manufacturers prefer ethylene over bio-based ethylene, which in turn acts as the major drawback for bio- based polyethylene market.
The Europe bio-based polyethylene market was the largest in terms of volume in 2014. Various regulations restrict the use of petroleum-based products in this region, which promotes the use of bio-based feedstock to manufacture chemicals, thus making bio-based polyethylene a preferred choice in end-use applications. Due to the rising awareness of regarding harmful effects of petroleum-based products, consumers' choice is shifting towards bio-based products, which again acts as a driving factor for bio-based polyethylene market.
The report defines, describes, and forecasts the global bio-based polyethylene market. The market is segmented on basis of application and geography. In terms of application, the market includes packaging, automotive, and others. On the basis of geography, the market is segmented into North America, Asia-Pacific, and RoW, and others are covered in the report.
The Low Density Polyethylene (LDPE) Market is estimated to grow at a CAGR of 3.8% from 2014 to 2019. The Asia-Pacific region dominated the global market for LDPE, having accounted for a 33.5% share in 2014. The Asia-Pacific market is estimated to grow at a CAGR of 5.2% during the given forecast period, followed by the North American market, which held a 26.2% share in 2014 and is projected to grow at a CAGR of 2.7% during the given forecast period.
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