Increasing feedstock prices coupled with stringent environmental regulations by agencies such as FDA, EPA and REACH to cut green house gases (GNG) will augment bio-based ethylene market over the forecast period.
San Francisco, California (PRWEB) January 16, 2015
Shift in trend towards developing sustainable products will remain a key driving factor for bio-based ethylene market over the next six years. Increasing feedstock prices coupled with stringent environmental regulations by agencies such as FDA, EPA and REACH, to cut green house gases (GNG) will augment 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.
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The global market is still at infancy stage with companies starting R&D practices to manufacture sustainable ethylene coupled with scaling up of industrial processes for product commercialization. Major petrochemical based ethylene manufacturers are shifting focus towards developing bio-based ethylene to capture the market in its initial developmental stages. Companies such as IFPEN, Axen and Total have launched a joint proprietary technology known as Atol, for making bio-based ethylene commercially available in the market. Other market participants such as Dow Chemical Company, Alberta, Cargill and Suiker Unie are conducting research to develop bio-based ethylene production technology. High initial investment costs along with establishment of new manufacturing technologies will possess challenges for industry participants. Advancement with technologies and early market penetration will provide growth opportunities for bio-based ethylene industry participants.
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North America will witness significant growth rates owing to favorable governmental regulations on use of bio derived products and technological advancements. Significant demand is expected from emerging economy of the Asia Pacific region owing to the presence of large scale ethylene manufactures shifting focus towards manufacture of bio-based ethylene. China will witness higher growth rates owing to high ethylene manufacturing capacities.
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