Limonene Polymers Market Growth Analysis, Share, Demand By Regions, Scope And Forecast 2031
Limonene Polymers Market: Introduction
·
Limonene epoxide (1, 2-limonene
oxide) easily reacts with carbon dioxide inserted in a ring-opening
copolymerization reaction and forms polycarbonates of exceptional chemical and
physical properties.
·
Limonene polymers are manufactured
through the polymerization of bio-based raw materials through engineered
industrial processes. Limonene polymers are usually manufactured from limonene
derived from lemon, orange, pineapple and others.
·
Limonene polymers provides better
scratch resistance and has a softer surface as compared to other synthetic
polymers.
·
Primary applications of limonene
polymers are in diverse sectors such as agriculture, textile, electronics,
packaging, and healthcare.
Key Manufacturers Operating in Global Limonene Polymers Market
The
limonene polymers market was consolidated in 2020. Major players have prominent
presence in developed and developing countries. Key manufacturers operating in
the limonene polymers market include:
·
BASF SE
·
MCNS
·
RAMPF Holding GmbH & Co. KG
·
Covestro AG
·
Cargill, Inc.
·
Huntsman International LLC
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Key Drivers and Restraints of
Limonene Polymers Market
·
The shift toward sustainable
practices and growing environmental concerns are projected to drive the
limonene polymers market. The limonene polymers market in Europe and North
America is expanding at a rapid pace. Increasing intervention of FDA and
related organizations, in terms of food safety, is largely promoting the usage
of biodegradable and food grade plastics for beverage and snack consumption.
Limonene polymers are majorly utilized in fruit and vegetable packaging in
supermarkets, for bread bags and bakery boxes, bottles, envelopes and display
carton windows, and shopping or carrier bags. Restaurant chains and food
processing industries are increasingly adopting biodegradable materials for
food packaging. Consumer awareness is also rising rapidly, especially in
emerging economies, in terms of food safety, as some plastics are proven
carcinogenic.
·
However, the high cost of limonene
polymers is projected to hamper the global limonene polymers market
Limonene Polymers Market: End-user Segment
·
Based on end-user, the global
limonene polymers market is divided into agriculture, textile, electronics,
packaging, healthcare, and others
·
The packaging segment is dominated
the limonene polymers market
·
Packaging is a prominent end-user
segment of the market for limonene polymers. These polymers exhibit excellent
clarity and gloss, resistance to food fats/oils, and aroma barrier.
Additionally, they also provide stiffness, twist retention, and printability to
the packaging.
Covid-19 Impact on Global Limonene Polymers Market
·
On January 30, 2020, the
International Health Regulations Emergency Committee of the World Health Organization
(WHO) declared the Coronavirus disease (COVID-19) outbreak a public health
emergency of international concern. Originating in China, the virus has spread
to at least 214 countries and territories around the world.
·
Several governments and private sector
businesses are operating at a limited capacity or have ceased operations
completely due to recent events surrounding the COVID-19 pandemic
·
The limonene polymers market
contracted, as it was affected due to disruptions in the global supply chain
and volatility in raw material prices
·
This situation arose due to a decline
in demand from agriculture, textile, electronics, and packaging sectors. The
market is also highly dependent on the fashion industry.
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Europe to hold a leading share of Global Limonene Polymers Market
·
In terms of region, the limonene
polymers market can be divided into North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa
·
Europe is expected to hold a major
share of the global limonene polymers market, followed by North America and
Asia Pacific, during the forecast period
·
Public awareness and government
initiatives in the region have boosted the use of biodegradable polymers in
carrier bags, food packaging, food services (cutlery, etc.), and organic waste
caddy liners
·
Various countries in the region have
been focusing on offering more eco-friendly packaging. This has increased the
demand for polylactic acid from the packaging sector.
·
Currently, the packaging sector in
the U.K. recorded annual sales of GBP 11 billion, and it employs more than
85,000 people
·
It represents about 3% of the total
manufacturing in the U.K., which is a major contributor to the country’s GDP
·
Non-U.K.-based companies own much of
the country’s packaging industry
·
Rise in need for small size packaging
and the increase in consumption habits with the change in lifestyles are
anticipated to propel the demand for bio-based polymers during the forecast
period
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