Continued Growth Predicted for Bio-Based Ethylene Market
The trend toward developing sustainable products will remain a key driving factor for the bio-based ethylene market over the next six years, according to a recent report from Grand View Research Inc. Increasing feedstock prices, coupled with stringent environmental regulations by agencies such as FDA, EPA and REACH to cut greenhouse gases (GNG), will augment the bio-based ethylene market over the forecast period. Bio-based ethylene derived polyethylene has huge potential for substituting petrochemical-derived ethylene in myriad industrial applications such as lubricants, plasticizers, additives, detergents, medical devices and packaging.
The global market is still at infancy stage, with companies beginning R&D to manufacture sustainable ethylene and scaling up industrial processes for product commercialization. Major petrochemical-based ethylene manufacturers are shifting focus toward developing bio-based ethylene to capture the market in its initial developmental stages.
For more information, visit www.grandviewresearch.com.