Poly Vinyl Chloride (PVC) is one of the world’s prominent synthetic plastic polymer that is being produced in a significant volume at a global level. It comes in two forms that includes rigid PVC and Flexible PVC. They are referred to as bio-based PVC when produced from renewable and bio-based feedstock instead of the conventional fossil fuel based feedstocks. The market for bio-based PVC is poised to grow significantly as it has a significant potential to replace the conventional PVC efficiently. Moreover, bio-based PVC can help the manufacturers meet current market demands for bio-based and bio-degradable chemicals and plastics. Bio-based PVC can be efficiently used in building and construction, packaging and transportation, electricals and electronics and textile industries among others for various applications that include the production of agricultural films, bags, fibers, containers, bins and bottles among others.
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Plastics are demanded in almost every other industry for packaging applications. The use of conventional plastics is getting more and more restricted as a result of stringent regulations and norms are being laid by the governments at national and international levels. These regulations restrict the utilization of plastics that are non-biodegradable and harmful to the environment. As a consequence, industrialists are bound to use bio-based alternatives to the conventional fossil fuel based chemicals and this has created a significant demand for bio-based PVC. The increasing awareness about the facts such as bio-based PVC is produced from feedstock that is renewable and more importantly, biodegradable has also contributed to the increase in demand for bio-based PVC across the globe and this demand for bio-based PVC is expected to increase further in coming years. The preference of most of the industries such as food processing, and packaging has shifted towards bio-based polymers in order to attain their goals of sustainable development. This factor is also expected to drive the growth of global Bio-Based PVC Market significantly.
Bio-Based PVC Market Restraints
The global bio-based PVC market is expected to be potentially restrained from the intense competition for bio-based PVC feedstock. The completion is from the food manufacturing and processing industries that consume the same feedstock for food production.
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Bio-Based PVC Market Trends
Global bio-based PVC market is witnessing a significant number of product launches as the participants of the global bio-based PVC market participate vigorously in research and development for technological advancements and for the development of new and efficient methods of bio-based PVC production from different types of biological and renewable feedstock.
Bio-Based PVC Market Regional Outlook
In terms of production, China is one of the prominent regions in the global bio-based PVC market. Japan also has some of the prominent players of the global bio-based PVC market. However, as a consequence of a significant concentration of industries that consume bio-based PVC in China, East Asia is expected to hold a significant share of the global bio-based PVC market in terms of consumption volume. East Asia is followed by other regions such as North America and Europe which have a considerable demand for bio-based polymers such as bio-based PVC.
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Bio-Based PVC Market to register a healthy CAGR for the forecast period 2019 2029
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