Market for Bio-based Polyethylene is expected to grow at a CAGR of roughly 20.8% over the next 5 years, will reach US$1540 million in 2023, from US$490 million in 2017, according to a new GIR (Global Info Research) study. Bio-based Polyethylene is (also known as renewable polyethylene) is polyethylene made out of ethanol, a renewable raw material, which becomes ethylene after a dehydration process. Bio-based Polyethylene is produced from ethanol sugarcane, while the traditional polyethylene uses fossil sourced raw materials such as oil or natural gas. Bio-based Polyethylene captures and fixes CO2 from the atmosphere during its production, helping to reduce greenhouse gases emission. Bio-based Polyethylene can be made from various feedstock including sugar cane, sugar beet, and wheat grain. It is first made using sugar cane from Brazil.
Latin America regions is the largest supplier of Bio-based Polyethylene, with a production market share nearly 93.59% and sales market share nearly 17.32% in 2015. That is to say, there will be exports in North America, while North America also is the largest consumption region., The second place is Europe regions, following Japan, with the production market share of 6.41% and the sales market share over 32.85%. North America region is another important consumption market of Bio-based Polyethylene, enjoying 31.57% sales market share. Bio-based Polyethylene is used by Agriculture & Industry, Food & Beverages, Cosmetics & Household Care and Others. Report data showed that 14.17% of the Bio-based Polyethylene market demand in Agriculture & Industry, about 45.77% in Food & Beverages and 30.31% in Cosmetics & Household Care in 2015.