CO2-based polymers Market: an overview
CO2-based polymers are manufactured from the reaction between epoxides and carbon dioxide (CO2) in the presence of appropriate catalyst. CO2 is used as a feedstock material in the manufacturing of these polymers and CO2-based polymers contain up to 50% CO2 that can be manufactured. These polymers are relatively new to the market and are considered as bio-based polymers. There is continuous research being carried out to develop new CO2-based polymers and explore their application areas. This is likely to result in the development of new production technologies and appropriate catalyst for the reaction of carbon dioxide with other monomers to produce a new range of polymers.
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CO2-based polymers Market: Dynamics
CO2 is considered to be one of the most severe contributors of global warming. It is abundantly available in nature and it is now being considered for use in the manufacturing of various chemicals and materials including polymers. CO2 is majorly used in the production of CO2-based polypropylene carbonate and polypropylene carbonate polyols. The manufacturing of CO2-based polymers is increasing gradually around the world due to the increasing demand for bio-based polymers. Most of the plastics today are manufactured by using petroleum feedstock due to the presence of high carbon. This carbon makes up to 80% of the plastic content. In CO2-based polymers, CO2 is used as a partial source of carbon, minimizing the dependency on petroleum feedstock. Polypropylene carbonate is used as a binder in ceramic industry and it is used to increase the toughness in some epoxy resins. Polypropylene carbonate polyols are extensively used in the manufacturing of polyurethane, which is used in adhesives, paints & coating, sealants, elastomers, composite wood, medical equipment and others. The demand for CO2-based polymers is expected to increase as the government regulations are gradually promoting for a reduced dependency on petrochemicals.
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The lack of political will and slow development in production technologies are the key restraints for the growth of CO2-based polymers. However, increasing plastic waste is compelling the government bodies worldwide to implement stringent rules for the use of plastics and support the development of bio-based polymers. This can potentially increase the production of CO2-based polymers.
CO2-based polymers Market: Segments
On the basis of derivatives, the market can be segmented into:
On the basis of region, the market can be classified into:
CO2-based polymers: Regional Outlook
According to the European bio plastic organization, the global production of bio-based plastics is around 7500 KT/annum, which is 2% of the total plastics produced globally. The demand for CO2-based polymers is increasing rapidly due to its high potential. Various researches are being carried out throughout the world to widen the application areas of CO2-based polymers. The scientist at Oberhausen institute, Germany have recently developed a process to embed carbon-di-oxide within polymers, such as nylon and polycarbonate. The leading production and consumption of CO2-based polymers are concentrated in the Asia Pacific region. The demand is further expected to increase as several governments are forming norms for the use of environment-friendly plastics. The recent installation of production facilities by Saudi Aramco in Middle East and Africa is likely to boost the demand for CO2-based polymers in the region. The demand for CO2-based polymers is expected to increase in the matured markets of North America and Europe due to the changing climatic conditions and willingness to work on the development of eco-friendly materials. The applications of CO2-based polymers is in its developmental phase and has immense potential. The global demand for CO2-based polymers can be forecast to increase at healthy rates, depending upon the development in technologies and implementation of environmental norms across the globe.
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CO2-based polymers: Key Players
The market for CO2-based polymers is highly consolidated with only few players at the global level. However, a number of manufacturers are expected to increase with the development of production technologies and catalyst of CO2-based polymers. Some of the key players include Saudi Aramco, Novomer Inc., Covestro, China BlueChemical Ltd., Empower Materials Inc., Mengxi tech group company, Henan Tianguan Enterprise Group Co., Ltd, SK innovation, Hubei Sanli Fengxiang Technology Co., Ltd, Jiangsu Zhongke Jinlong-cas Chemical Co., Ltd, and others.
The research report presents a comprehensive assessment of the CO2-based polymers market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The CO2-based polymers market report provides analysis and information, according to market segments such as geographies, application and industry.
The CO2-based polymers Market Report Covers Exhaustive Analysis On:
The CO2-based polymers Market Regional Analysis Includes:
The CO2-based polymers report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The CO2-based polymers report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The CO2-based polymers report also maps the qualitative impact of various market factors on market segments and geographies.
The CO2-based polymers Market Report Highlights:
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