Tuesday, December 26, 2023
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HomeNEWSArticlesBio-polyolefin Market Set to Grow as Fast as Sugar Cane

Bio-polyolefin Market Set to Grow as Fast as Sugar Cane

Bio-polyolefin Market Set to Grow as Fast as Sugar Cane

Sugar cane can grow to a height of 10 feet in 12 months. Independent research by MLT Analytics (MLTA) indicates that usage of polyethylene and polypropylene derived from renewable resources such as sugar cane, non-edible plants and biogenic fats and oils has the potential to grow equally fast.

Bio-polyethylene market leader Braskem exported almost 150,000 tonnes of bio-PE in 2021, headed by bio-HDPE and bio-LDPDE grades, according to MLTA analysis. Further, with mass balance-based biopolymer production accelerating in Europe and Japan, the global bio-PE market will soon surpass 200,000 tonnes annually. Braskem’s recent decision to license bio-ethylene production technology in a partnership with Lummus Technology should further accelerate market growth. “Bio-based polyolefins are emerging as key enablers for plastic suppliers and brand-owners alike to reach their sustainability goals,” notes MLTA CEO Stephen Moore. Regulatory pressure is also evident. Case in point: Japan’s Green Growth Strategy Through Achieving Carbon Neutrality in 2050 targets 2 million tonnes of biomass plastics in 2030. “Leading Japanese polyolefin suppliers are already gearing up to meet these targets,” says Moore. For example, “Prime Polymer shipped its first bio-PP shipment in March this year using bio-based hydrocarbons from Neste, while parent company Mitsui Chemicals is also developing its own process technology to polymerize PP from bio-isopropanol.”While LDPE, particularly for coating of paperboard containers, and HDPE, mainly for packaging and bags, currently dominate the marketspace, bio-LLDPE and bio-EVA are also emerging sustainable options, as is bio-PP. “A key differentiator in the market going forward will be whether these offerings are indeed 100% bio-based resins or marketed using a mass balance approach,” says Moore.
https://www.mltanalytics.com/

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