Renewable Polyethylene Market Share

North American Market Forecast

North America renewable polyethylene market is expected to account for 36% of the revenue share during the forecast period. In recent years, North America has witnessed a surge in demand for renewable polyethylene as companies and consumers alike prioritize eco-friendly alternatives. The region has been actively investing in renewable energy sources and sustainable practices, and this has translated into a growing market for renewable polyethylene. According to Research Nester's analysts, in 2022, the North American market for bioplastic polyethylene was valued at USD 289 million and is expected to increase significantly up to USD 441 million by 2030 across all application areas. With the United States and Canada leading the way, the North American market has seen increased adoption of renewable polyethylene in various industries, including packaging, automotive, construction, and more. The development of new and improved manufacturing processes for Renewable Polyethylene has made it easier and more cost-effective to produce in North America. This has helped to increase supply and reduce the cost of material, making it more accessible to businesses. Many businesses in North America are responding to the growing demand for sustainable products by adopting eco-friendlier practices and using renewable materials like Renewable Polyethylene in their products. This has created new opportunities for manufacturers and suppliers in the region and therefore accelerates the market growth.

European Market Statistics

Europe renewable polyethylene market is expected to hold significant growth during the forecast period 2036. Europe has witnessed a significant surge in the demand for renewable polyethylene. Countries like Germany, France, Italy, and the Netherlands have been at the forefront of this market expansion. This growth can be attributed to several factors, including increasing environmental consciousness, stringent regulations, and the need for sustainable alternatives to traditional plastics.  Moreover, the European government is implementing supportive policies toward renewable plastic products and materials due to several reasons. Concerns and knowledge about how plastic garbage affects the environment are growing. Plastic pollution is now a major problem on a Europe scale, having a negative influence on ecosystems, wildlife, and public health. In reoccurrence with the situation, the government is promoting the usage of bio-based plastics, which is propelling the growth of the market in the region. As per estimates the revenue generated from the bio-based polyethylene is valued at USD 385 million in 2022 and is set to increase in the upcoming years, thus projecting the market’s growth in the region.