North America Bio-Based Ethylene Market
No. of Pages: 66 | Report Code: TIPRE00023333 | Category: Chemicals and Materials
No. of Pages: 66 | Report Code: TIPRE00023333 | Category: Chemicals and Materials
The North American region comprises developed and developing countries, including the US, Canada, and Mexico. North America is anticipated to account for a remarkable share of the bio-based ethylene market during the forecast period owing to the wider application of this material in packaging and plastic production industries located in this region. Bio-ethylene is manufactured from bio-based materials, including starch, sugars, and lignocellulosic biomass. As similar to the traditional ethylene, bio-ethylene also can be utilized as a raw material for a several organic chemicals and plastics. Bioethanol is primarily utilized as a blend in transportation fuel, and it is further gaining importance in the automotive industry in this region, which is further influencing the market growth. Also, presence of the key players such as The Dow Chemical Company, Oxy Low Carbon Ventures (OCLV), Enerkem, and others in North America are further influencing the market growth with their heavy contribution. Compared to the petrochemical equivalent, the foremost advantages of using bio ethylene are that it can diminish greenhouse gas lifetime emissions from production & use and can reduce the dependence of the chemical industries on fossil fuels. And the people living in North America region and even the industry players are nowadays quite concern towards diminishing the greenhouse gas emission, hence adopting the bio ethylene as an alternative to petrochemical products. This is further bringing a positive outlook for the bio ethylene market in this region. In addition, the US is highly contributing to the ethanol as well as bio-ethanol production, which is the key material for bio ethylene. Corn starch, wheat starch, and sugarcane are the most important feedstock for production of bioethanol and these raw materials are easily available in the American market. In addition, since the US is the major contributor in corn-based bio ethylene, manufacturers of this materials will further observe immense growth in bio-based ethylene market. In addition, strict environment guidelines by authorities such as FDA and EPA pertaining to petrochemical products’ biodegradability has enhanced industry focus about bio-based alternatives. All these factors are supporting the growth of the studied market in this region.
The US has the highest number of confirmed cases of COVID-19, as, compared to Mexico and Canada. This is likely to impact the chemicals & materials industry in the region as, due to the COVID-19, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth
Strategic insights for the North America Bio-Based Ethylene provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 110.34 Million |
| Market Size by 2028 | US$ 188.20 Million |
| Global CAGR (2020 - 2028) | 6.9% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Raw Material
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Bio-Based Ethylene refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The bio-based ethylene market in North America is expected to grow from US$ 110.34 million in 2020 to US$ 188.20 million by 2028; it is estimated to grow at a CAGR of 6.9% from 2020 to 2028.Alternative sources of biomass, bioethanol being the only major raw material used in the production of bio-based ethylene is likely to create immense pressure on the existing biomass sources such as sugarcane, corn-starch, maize, wheat, and others. Ethanol is also widely consumed as a biofuel, which further necessitates the need to find newer and cost-efficient alternatives to produce ethanol. Companies such as Oxy Low Carbon Ventures and Enerkem, are conducting research and developments to manufacture bioethanol, and ethylene from carbon dioxide and municipal solid wastes. The future may see a surge in technological breakthrough to develop efficient processes to effectively convert forestry and lignocellulosic residues into fermentable sugars. This is bolstering the growth of the bio-based ethylene market.
In terms of raw material type, the sugars segment accounted for the largest share of the North America bio-based ethylene market in 2019. In terms of end-user industry type, the packaging segment held a larger market share of the bio-based ethylene market in 2019.
A few major primary and secondary sources referred to for preparing this report on the bio-based ethylene market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Braskem S.A; The Dow Chemical Company; LyondellBasell Industries Holdings B.V.; SABIC; Oxy Low Carbon Ventures (OLCV); and Enerkem.
The North America Bio-Based Ethylene Market is valued at US$ 110.34 Million in 2020, it is projected to reach US$ 188.20 Million by 2028.
As per our report North America Bio-Based Ethylene Market, the market size is valued at US$ 110.34 Million in 2020, projecting it to reach US$ 188.20 Million by 2028. This translates to a CAGR of approximately 6.9% during the forecast period.
The North America Bio-Based Ethylene Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Bio-Based Ethylene Market report:
The North America Bio-Based Ethylene Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Bio-Based Ethylene Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Bio-Based Ethylene Market value chain can benefit from the information contained in a comprehensive market report.
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