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Bio-based Elastomers Market Outlook (2023 to 2033)

The global bio-based elastomers market is anticipated to hold a market value of US$ 513 Million in 2023 and US$ 1,901.8 Million by 2033. The projected growth rate is nearly 14% during the forecast period from 2023 to 2033.

The growing demand for utilizing bio-based materials to reduce the carbon footprint is driving conventional elastomer manufacturers to develop partial blends or fully bio-based elastomers. Thermoset and thermoplastic crude oil-based elastomers largely depend on petrochemicals.

Report Attributes Details
Estimated Market Value in 2023 US$ 513 Million
Estimated Market Value in 2033 US$ 1,901.8 Million
Projected CAGR from 2023 to 2033 14%

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Revenue Analysis of Bio-based Elastomers Market 2018 to 2022 vs. Future Outlook 2023 to 2033

The global bio-based elastomers market garnered US$ 507.6 Million in 2022, expanding at a historical CAGR of 10%. Over the short term, increasing demand for Bio-based elastomers from the heating, ventilation, and air conditioning (HVAC) industry is expected to drive the market's growth.

Furthermore, in the years to come, shifting focus toward the development of bio-based products and increasing application in the fabrication of medical instruments are likely to act as opportunities. During the forecast period, the industry is also anticipated to be driven by rising expenditures on Research and Development and product development by the manufacturers. The estimation reveals that the industry is projected to secure a market value of US$ 1,901.8 Million by 2033.

What are the factors boosting the Global Bio-based Elastomers Market?

Growing Technology Collaboration to Aid Market Growth

The volatility in crude oil prices due to geopolitical factors has significantly contributed to developments being carried out in the market. For instance, Green Dot Plastics, based in Kansas, USA has been involved in the development of Terratek Flex GDH-B1, a starch-based bio-based elastomer formulated with 35% of bio-based content since 2011. Although the development of bio-based elastomers presents lucrative growth opportunities, their high prices portray a significant challenge to their market growth, which can be anticipated to reduce during the upcoming years.

Technology collaboration is being observed among elastomer raw material manufacturers to develop bio-based alternatives. Such instances create a sufficient supply of bio-based raw materials, enabling adequate production of bio-based elastomers. For instance, in May 2021, USA-based Lummus Technology entered into a cooperation agreement with Synthos to commercialize the bio-butadiene technology of Synthos for the development of bio-based butadiene, thus creating an adequate monomer supply for bio-based elastomer production.

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Nikhil Kaitwade

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Country-Wise Analysis

What is the Contribution of North America to Increasing Demand for Outsourcing Pharma?

Presence of Key in the Region to Increase Consumer Demand

North America is expected to witness a growing demand for bio-based elastomers due to the presence of a significant number of bio-based elastomer manufacturers in the region. Similarly, the growing demand for electric vehicles in North America due to supportive government policies is expected to increase the demand for electric vehicle charging cables in the region, which can positively influence the consumption of bio-based elastomers in cable jackets.

The USA in North America is expected to witness significant growth in the demand for bio-based elastomers. This is due to the fact the country hosts a number of conventional elastomer manufacturers such as Avient Corporation, Huntsman International LLC, The Lubrizol Corporation, Trinseo, and Dow that are now engaged in the development of bio-based elastomers.

For instance, Dow manufactures bio-based polyolefin elastomers under the brand name AFFINITY RE. In addition, the National Biotechnology and Biomanufacturing Initiative launched by the USA Government in September 2022 to embrace bio-manufacturing to produce bio-based fuels, bio-based plastics, bio-based medicines, and other bio-based materials is expected to further contribute to the high growth of bio-based elastomers in the USA

What is the Growth Outlook for Bio-based Elastomers in Europe?

Increasing Investments in Product Penetration to Boost Regional Market

Europe accounted for the largest revenue share of more than 40.0% in 2022. Bio-Based Industries Joint Undertaking (BBI JU) was launched in 2014 between the Bio-based Industries Consortium and European Union to accelerate the consumption of bio-based content in various end-use industries.

In addition, the European Chemicals Agency (ECHA) submitted a proposal to ban rubber granules produced from end-of-life vehicle tires, which has driven tire manufacturers in Europe to consider bio-based raw materials for tire production, thus presenting a positive growth opportunity for bio-based elastomers.

In line with the current developments aimed at increasing the bio-based material content in the products, France-based tire manufacturer Michelin unveiled a plan in June 2018 to ensure 80% sustainable materials consumption in its tires by 2048.

Category-Wise Insights

Which Type of Product is Boosting the Growth of the Market?

Growing adoption in automotive applications as an alternative to conventional crude oil-based elastomers to boost the growth

The bio-based thermoplastic elastomers accounted for the largest revenue share of more than 75.0% in 2022. This is attributed to the growing adoption in automotive applications as an alternative to conventional crude oil-based elastomers with the equivalent shore hardness from 55 shore A to 80 shore A.

Some of the bio-based thermoplastic elastomers developed in the market include bio-based thermoplastic polyolefin elastomers, bio-based thermoplastic polyurethane elastomers, bio-based thermoplastic styrene block copolymer elastomers, and bio-based thermoplastic polyamide elastomers.

Bio-based thermoset elastomers include bio-based ethylene propylene diene monomers and bio-based silicone elastomers. ARLANXEO has been producing Keltan Eco EPDM commercially since 2013. The company sources bio ethylene from Braskem. The bio-based EPDM offers similar oxidative and thermal resistance properties as that of conventional EPDM, which can help it project a feasible alternative to replace conventional EPDM in the coming years. The eco-grade silicone elastomers manufactured by Wacker Chemie under the ELASTOSIL brand offer exceptional tear resistance and are used for producing binders for the textile, paper, and consumer goods industries.

What is the Role of the Application Segment in Propelling the Market?

Automotive emerged as the leading application segment and is projected to dominate the market

Automotive emerged as the leading application segment and accounted for more than 35.0% share in terms of revenue in 2022. Decreasing the vehicle weight to improve fuel consumption and reducing CO2 emission are significant objectives for the automotive industry.

Thermoplastic elastomers are useful in automotive interior applications such as inlay mats, fascia, cup holder liners, and exterior windshield wipers. Materials used in automotive interiors need to meet requirements for Vehicle Interior Air Quality (VIAQ) and legislation regarding odor, fogging, and VOC. The bio-based elastomers contain a significant amount of bio-based content and exhibit a low amount of VOC, which is positively driving its consumption in the automotive industry.

Footwear emerged as the next leading application segment in 2022. The production of footwear has significant negative environmental impacts on the environment due to the use of leather, polyurethane, polyvinyl chloride, and rubber, which end up in landfills. Recently, various large sports goods brands have announced the introduction of fully biodegradable high-performance athletic footwear, which can positively influence the demand for bio-based elastomers.

For instance, Nike used 50% Pebax Renew, a castor-based thermoplastic elastomer, manufactured by Arkema that contains about 97% renewable-based components along with 50% bio-based thermoplastic polyurethanes (TPU) in its GS football boot.

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Start-ups for Bio-based Elastomers Market

Some of the key startups in the market are-

  • ADBioplastics is a Spanish start-up that develops bioplastics. It produces premium-grade polylactic acid (PLA) from corn, sugar cane, or sugar beet. The startup’s patented BlockPLA technology improves conventional grades of PLA by adding enhanced barrier properties and making it biodegradable and compostable. Moreover, the solution is amenable to thermoforming, injection, and injection blowing and finds application in different sectors.
  • The US-based start-up DiPole Materials offers custom nanofiber manufacturing solutions. It uses electrospinning to create scaffolds for tissue engineering, functional fibers, and other specialty applications. The start-up leverages its BioPaper technology to offer a gelatin-based three-dimensional (3D) fibrous scaffold for 3D cell culture and bioprinting. It accelerates the development of novel medical devices while also improving the pharma drug screening process.
  • French start-up Woodoo uses bioengineering to produce augmented wood. The start-up’s technology removes air and lignin from wood, while maintaining its structural integrity, and then reinforces it with a bio-based polymer. It enables the use of otherwise unused, low-grade wood in smart surfaces and construction materials. The extracted high-grade lignin is also a popular bio-based polymer in the specialty chemicals market.

Competitive Landscape

The players in the market are focusing to increase their global influence and adopt strategies such as; acquisition, collaboration, and partnerships. Some of the recent key developments among key players are:

  • In April 2021, Audia Elastomers launched sustainable thermoplastic elastomers under the brand name AudiaFlex consisting of customizable grades that are produced from marine-based, bio-based, post-industrial, and post-consumer sources.
  • In November 2022, Asahi Kasei Corporation announced the beginning of the sale of Asadene BR and Tufdene S-SBR for the production of eco-friendly tires. These elastomers are manufactured by the mass-balance method with raw material derived from plastic waste and biomass.
  • In August 2022, the Beijing University of Chemical Technology developed bio-based polyester elastomer soles for biodegradable footwear manufactured using corn stalk latex, bamboo fiber, and hemp fiber.

Bio-based Elastomers Market- Report Scope

Report Attributes Details
Forecast Period 2023 to 2033
Historical Data 2018 to 2022
Key Regions Covered
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa
Key Countries Covered
  • USA
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Indonesia
  • Malaysia
  • Singapore
  • Thailand
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa
  • Israel
Key Segments Covered
  • Product
  • Application
  • Region
Key Companies Profiled
  • Dow
  • FKuR
  • BASF SE
  • ARLANXEO
  • Trinseo
  • Eni S.p.A
  • Asahi Kasei Corporation
  • DSM
  • Mitsubishi Chemical Europe GmbH
  • Arkema
  • The Goodyear Tire & Rubber Company
  • The Lubrizol Corporation
  • KURARAY CO. LTD.
  • Wacker Chemie AG
  • Hunstsman International LLC
  • Covestro AG
  • HEXPOL TPE
  • Avient Corporation
Pricing Available upon Request

Key Market Segments Covered in the Global Bio-based Elastomers Market

By Product Type:

  • Bio-based Thermoplastic Elastomers
  • Bio-based Thermoset Elastomers

By Application:

  • Footwear
  • Automotive
  • Sports
  • Electrical & Electronics
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Frequently Asked Questions

How opportunistic will the Bio-based Elastomers market be in North America?

North America will account for a major share of global Bio-based Elastomers demand.

What is the predicted value CAR for the market from 2023 to 2033?

From 2023 to 2033, the market is projected to expand at a 14% value CAGR, as per FMI.

What is the projected market value for Bio-based Elastomers in 2033?

By 2033, Bio-based Elastomers market demand is expected to reach US$ 1901.8 Million.

What is the anticipated market value for Bio-based Elastomers in 2023?

By 2023, demand for Bio-based Elastomers is forecast to be valued at US$ 513 Million.

What was the market worth for Bio-based Elastomers in 2022?

As of 2022, the market for Bio-based Elastomers was valued at US$ 507.6 Million.

Table of Content

1. Executive Summary | Bio-based Elastomers Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyers

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Product, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Product, 2023 to 2033

        5.3.1. Bio-based Thermoplastic Elastomers

        5.3.2. Bio-based Thermoset Elastomers

    5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Application, 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Application, 2023 to 2033

        6.3.1. Footwear

        6.3.2. Automotive

        6.3.3. Sports

        6.3.4. Electrical & Electronics

        6.3.5. Others

    6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033

7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region

    7.1. Introduction

    7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2018 to 2022

    7.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2023 to 2033

        7.3.1. North America

        7.3.2. Latin America

        7.3.3. Europe

        7.3.4. Asia Pacific

        7.3.5. Middle East and Africa(MEA)

    7.4. Market Attractiveness Analysis By Region

8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    8.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    8.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        8.2.1. By Country

            8.2.1.1. USA

            8.2.1.2. Canada

        8.2.2. By Product

        8.2.3. By Application

    8.3. Market Attractiveness Analysis

        8.3.1. By Country

        8.3.2. By Product

        8.3.3. By Application

    8.4. Key Takeaways

9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        9.2.1. By Country

            9.2.1.1. Brazil

            9.2.1.2. Mexico

            9.2.1.3. Rest of Latin America

        9.2.2. By Product

        9.2.3. By Application

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Product

        9.3.3. By Application

    9.4. Key Takeaways

10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        10.2.1. By Country

            10.2.1.1. Germany

            10.2.1.2. United Kingdom

            10.2.1.3. France

            10.2.1.4. Spain

            10.2.1.5. Italy

            10.2.1.6. Rest of Europe

        10.2.2. By Product

        10.2.3. By Application

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Product

        10.3.3. By Application

    10.4. Key Takeaways

11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Country

            11.2.1.1. China

            11.2.1.2. Japan

            11.2.1.3. South Korea

            11.2.1.4. Singapore

            11.2.1.5. Thailand

            11.2.1.6. Indonesia

            11.2.1.7. Australia

            11.2.1.8. New Zealand

            11.2.1.9. Rest of Asia Pacific

        11.2.2. By Product

        11.2.3. By Application

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Product

        11.3.3. By Application

    11.4. Key Takeaways

12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Country

            12.2.1.1. GCC Countries

            12.2.1.2. South Africa

            12.2.1.3. Israel

            12.2.1.4. Rest of Middle East and Africa(MEA)

        12.2.2. By Product

        12.2.3. By Application

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Product

        12.3.3. By Application

    12.4. Key Takeaways

13. Key Countries Market Analysis

    13.1. USA

        13.1.1. Pricing Analysis

        13.1.2. Market Share Analysis, 2022

            13.1.2.1. By Product

            13.1.2.2. By Application

    13.2. Canada

        13.2.1. Pricing Analysis

        13.2.2. Market Share Analysis, 2022

            13.2.2.1. By Product

            13.2.2.2. By Application

    13.3. Brazil

        13.3.1. Pricing Analysis

        13.3.2. Market Share Analysis, 2022

            13.3.2.1. By Product

            13.3.2.2. By Application

    13.4. Mexico

        13.4.1. Pricing Analysis

        13.4.2. Market Share Analysis, 2022

            13.4.2.1. By Product

            13.4.2.2. By Application

    13.5. Germany

        13.5.1. Pricing Analysis

        13.5.2. Market Share Analysis, 2022

            13.5.2.1. By Product

            13.5.2.2. By Application

    13.6. United Kingdom

        13.6.1. Pricing Analysis

        13.6.2. Market Share Analysis, 2022

            13.6.2.1. By Product

            13.6.2.2. By Application

    13.7. France

        13.7.1. Pricing Analysis

        13.7.2. Market Share Analysis, 2022

            13.7.2.1. By Product

            13.7.2.2. By Application

    13.8. Spain

        13.8.1. Pricing Analysis

        13.8.2. Market Share Analysis, 2022

            13.8.2.1. By Product

            13.8.2.2. By Application

    13.9. Italy

        13.9.1. Pricing Analysis

        13.9.2. Market Share Analysis, 2022

            13.9.2.1. By Product

            13.9.2.2. By Application

    13.10. China

        13.10.1. Pricing Analysis

        13.10.2. Market Share Analysis, 2022

            13.10.2.1. By Product

            13.10.2.2. By Application

    13.11. Japan

        13.11.1. Pricing Analysis

        13.11.2. Market Share Analysis, 2022

            13.11.2.1. By Product

            13.11.2.2. By Application

    13.12. South Korea

        13.12.1. Pricing Analysis

        13.12.2. Market Share Analysis, 2022

            13.12.2.1. By Product

            13.12.2.2. By Application

    13.13. Singapore

        13.13.1. Pricing Analysis

        13.13.2. Market Share Analysis, 2022

            13.13.2.1. By Product

            13.13.2.2. By Application

    13.14. Thailand

        13.14.1. Pricing Analysis

        13.14.2. Market Share Analysis, 2022

            13.14.2.1. By Product

            13.14.2.2. By Application

    13.15. Indonesia

        13.15.1. Pricing Analysis

        13.15.2. Market Share Analysis, 2022

            13.15.2.1. By Product

            13.15.2.2. By Application

    13.16. Australia

        13.16.1. Pricing Analysis

        13.16.2. Market Share Analysis, 2022

            13.16.2.1. By Product

            13.16.2.2. By Application

    13.17. New Zealand

        13.17.1. Pricing Analysis

        13.17.2. Market Share Analysis, 2022

            13.17.2.1. By Product

            13.17.2.2. By Application

    13.18. GCC Countries

        13.18.1. Pricing Analysis

        13.18.2. Market Share Analysis, 2022

            13.18.2.1. By Product

            13.18.2.2. By Application

    13.19. South Africa

        13.19.1. Pricing Analysis

        13.19.2. Market Share Analysis, 2022

            13.19.2.1. By Product

            13.19.2.2. By Application

    13.20. Israel

        13.20.1. Pricing Analysis

        13.20.2. Market Share Analysis, 2022

            13.20.2.1. By Product

            13.20.2.2. By Application

14. Market Structure Analysis

    14.1. Competition Dashboard

    14.2. Competition Benchmarking

    14.3. Market Share Analysis of Top Players

        14.3.1. By Regional

        14.3.2. By Product

        14.3.3. By Application

15. Competition Analysis

    15.1. Competition Deep Dive

        15.1.1. Dow

            15.1.1.1. Overview

            15.1.1.2. Product Portfolio

            15.1.1.3. Profitability by Market Segments

            15.1.1.4. Sales Footprint

            15.1.1.5. Strategy Overview

                15.1.1.5.1. Marketing Strategy

                15.1.1.5.2. Product Strategy

                15.1.1.5.3. Channel Strategy

        15.1.2. FKuR

            15.1.2.1. Overview

            15.1.2.2. Product Portfolio

            15.1.2.3. Profitability by Market Segments

            15.1.2.4. Sales Footprint

            15.1.2.5. Strategy Overview

                15.1.2.5.1. Marketing Strategy

                15.1.2.5.2. Product Strategy

                15.1.2.5.3. Channel Strategy

        15.1.3. BASF SE

            15.1.3.1. Overview

            15.1.3.2. Product Portfolio

            15.1.3.3. Profitability by Market Segments

            15.1.3.4. Sales Footprint

            15.1.3.5. Strategy Overview

                15.1.3.5.1. Marketing Strategy

                15.1.3.5.2. Product Strategy

                15.1.3.5.3. Channel Strategy

        15.1.4. ARLANXEO

            15.1.4.1. Overview

            15.1.4.2. Product Portfolio

            15.1.4.3. Profitability by Market Segments

            15.1.4.4. Sales Footprint

            15.1.4.5. Strategy Overview

                15.1.4.5.1. Marketing Strategy

                15.1.4.5.2. Product Strategy

                15.1.4.5.3. Channel Strategy

        15.1.5. Trinseo

            15.1.5.1. Overview

            15.1.5.2. Product Portfolio

            15.1.5.3. Profitability by Market Segments

            15.1.5.4. Sales Footprint

            15.1.5.5. Strategy Overview

                15.1.5.5.1. Marketing Strategy

                15.1.5.5.2. Product Strategy

                15.1.5.5.3. Channel Strategy

        15.1.6. Eni S.p.A.

            15.1.6.1. Overview

            15.1.6.2. Product Portfolio

            15.1.6.3. Profitability by Market Segments

            15.1.6.4. Sales Footprint

            15.1.6.5. Strategy Overview

                15.1.6.5.1. Marketing Strategy

                15.1.6.5.2. Product Strategy

                15.1.6.5.3. Channel Strategy

        15.1.7. Asahi Kasei Corporation

            15.1.7.1. Overview

            15.1.7.2. Product Portfolio

            15.1.7.3. Profitability by Market Segments

            15.1.7.4. Sales Footprint

            15.1.7.5. Strategy Overview

                15.1.7.5.1. Marketing Strategy

                15.1.7.5.2. Product Strategy

                15.1.7.5.3. Channel Strategy

        15.1.8. DSM

            15.1.8.1. Overview

            15.1.8.2. Product Portfolio

            15.1.8.3. Profitability by Market Segments

            15.1.8.4. Sales Footprint

            15.1.8.5. Strategy Overview

                15.1.8.5.1. Marketing Strategy

                15.1.8.5.2. Product Strategy

                15.1.8.5.3. Channel Strategy

        15.1.9. Mitsubishi Chemical Europe GmbH

            15.1.9.1. Overview

            15.1.9.2. Product Portfolio

            15.1.9.3. Profitability by Market Segments

            15.1.9.4. Sales Footprint

            15.1.9.5. Strategy Overview

                15.1.9.5.1. Marketing Strategy

                15.1.9.5.2. Product Strategy

                15.1.9.5.3. Channel Strategy

        15.1.10. Arkema

            15.1.10.1. Overview

            15.1.10.2. Product Portfolio

            15.1.10.3. Profitability by Market Segments

            15.1.10.4. Sales Footprint

            15.1.10.5. Strategy Overview

                15.1.10.5.1. Marketing Strategy

                15.1.10.5.2. Product Strategy

                15.1.10.5.3. Channel Strategy

        15.1.11. The Goodyear Tire & Rubber Company

            15.1.11.1. Overview

            15.1.11.2. Product Portfolio

            15.1.11.3. Profitability by Market Segments

            15.1.11.4. Sales Footprint

            15.1.11.5. Strategy Overview

                15.1.11.5.1. Marketing Strategy

                15.1.11.5.2. Product Strategy

                15.1.11.5.3. Channel Strategy

        15.1.12. The Lubrizol Corporation

            15.1.12.1. Overview

            15.1.12.2. Product Portfolio

            15.1.12.3. Profitability by Market Segments

            15.1.12.4. Sales Footprint

            15.1.12.5. Strategy Overview

                15.1.12.5.1. Marketing Strategy

                15.1.12.5.2. Product Strategy

                15.1.12.5.3. Channel Strategy

        15.1.13. KURARAY CO., LTD.

            15.1.13.1. Overview

            15.1.13.2. Product Portfolio

            15.1.13.3. Profitability by Market Segments

            15.1.13.4. Sales Footprint

            15.1.13.5. Strategy Overview

                15.1.13.5.1. Marketing Strategy

                15.1.13.5.2. Product Strategy

                15.1.13.5.3. Channel Strategy

        15.1.14. Wacker Chemie AG

            15.1.14.1. Overview

            15.1.14.2. Product Portfolio

            15.1.14.3. Profitability by Market Segments

            15.1.14.4. Sales Footprint

            15.1.14.5. Strategy Overview

                15.1.14.5.1. Marketing Strategy

                15.1.14.5.2. Product Strategy

                15.1.14.5.3. Channel Strategy

        15.1.15. Huntsman International LLC

            15.1.15.1. Overview

            15.1.15.2. Product Portfolio

            15.1.15.3. Profitability by Market Segments

            15.1.15.4. Sales Footprint

            15.1.15.5. Strategy Overview

                15.1.15.5.1. Marketing Strategy

                15.1.15.5.2. Product Strategy

                15.1.15.5.3. Channel Strategy

        15.1.16. Covestro AG

            15.1.16.1. Overview

            15.1.16.2. Product Portfolio

            15.1.16.3. Profitability by Market Segments

            15.1.16.4. Sales Footprint

            15.1.16.5. Strategy Overview

                15.1.16.5.1. Marketing Strategy

                15.1.16.5.2. Product Strategy

                15.1.16.5.3. Channel Strategy

        15.1.17. HEXPOL TPE

            15.1.17.1. Overview

            15.1.17.2. Product Portfolio

            15.1.17.3. Profitability by Market Segments

            15.1.17.4. Sales Footprint

            15.1.17.5. Strategy Overview

                15.1.17.5.1. Marketing Strategy

                15.1.17.5.2. Product Strategy

                15.1.17.5.3. Channel Strategy

        15.1.18. Avient Corporation

            15.1.18.1. Overview

            15.1.18.2. Product Portfolio

            15.1.18.3. Profitability by Market Segments

            15.1.18.4. Sales Footprint

            15.1.18.5. Strategy Overview

                15.1.18.5.1. Marketing Strategy

                15.1.18.5.2. Product Strategy

                15.1.18.5.3. Channel Strategy

16. Assumptions & Acronyms Used

17. Research Methodology

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List of Tables

Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033

Table 2: Global Market Volume (Tons) Forecast by Region, 2018 to 2033

Table 3: Global Market Value (US$ Million) Forecast by Product, 2018 to 2033

Table 4: Global Market Volume (Tons) Forecast by Product, 2018 to 2033

Table 5: Global Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 6: Global Market Volume (Tons) Forecast by Application, 2018 to 2033

Table 7: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 8: North America Market Volume (Tons) Forecast by Country, 2018 to 2033

Table 9: North America Market Value (US$ Million) Forecast by Product, 2018 to 2033

Table 10: North America Market Volume (Tons) Forecast by Product, 2018 to 2033

Table 11: North America Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 12: North America Market Volume (Tons) Forecast by Application, 2018 to 2033

Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 14: Latin America Market Volume (Tons) Forecast by Country, 2018 to 2033

Table 15: Latin America Market Value (US$ Million) Forecast by Product, 2018 to 2033

Table 16: Latin America Market Volume (Tons) Forecast by Product, 2018 to 2033

Table 17: Latin America Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 18: Latin America Market Volume (Tons) Forecast by Application, 2018 to 2033

Table 19: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 20: Europe Market Volume (Tons) Forecast by Country, 2018 to 2033

Table 21: Europe Market Value (US$ Million) Forecast by Product, 2018 to 2033

Table 22: Europe Market Volume (Tons) Forecast by Product, 2018 to 2033

Table 23: Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 24: Europe Market Volume (Tons) Forecast by Application, 2018 to 2033

Table 25: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 26: Asia Pacific Market Volume (Tons) Forecast by Country, 2018 to 2033

Table 27: Asia Pacific Market Value (US$ Million) Forecast by Product, 2018 to 2033

Table 28: Asia Pacific Market Volume (Tons) Forecast by Product, 2018 to 2033

Table 29: Asia Pacific Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 30: Asia Pacific Market Volume (Tons) Forecast by Application, 2018 to 2033

Table 31: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 32: MEA Market Volume (Tons) Forecast by Country, 2018 to 2033

Table 33: MEA Market Value (US$ Million) Forecast by Product, 2018 to 2033

Table 34: MEA Market Volume (Tons) Forecast by Product, 2018 to 2033

Table 35: MEA Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 36: MEA Market Volume (Tons) Forecast by Application, 2018 to 2033
Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

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List of Charts

Figure 1: Global Market Value (US$ Million) by Product, 2023 to 2033

Figure 2: Global Market Value (US$ Million) by Application, 2023 to 2033

Figure 3: Global Market Value (US$ Million) by Region, 2023 to 2033

Figure 4: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033

Figure 5: Global Market Volume (Tons) Analysis by Region, 2018 to 2033

Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033

Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033

Figure 8: Global Market Value (US$ Million) Analysis by Product, 2018 to 2033

Figure 9: Global Market Volume (Tons) Analysis by Product, 2018 to 2033

Figure 10: Global Market Value Share (%) and BPS Analysis by Product, 2023 to 2033

Figure 11: Global Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033

Figure 12: Global Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 13: Global Market Volume (Tons) Analysis by Application, 2018 to 2033

Figure 14: Global Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 15: Global Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 16: Global Market Attractiveness by Product, 2023 to 2033

Figure 17: Global Market Attractiveness by Application, 2023 to 2033

Figure 18: Global Market Attractiveness by Region, 2023 to 2033

Figure 19: North America Market Value (US$ Million) by Product, 2023 to 2033

Figure 20: North America Market Value (US$ Million) by Application, 2023 to 2033

Figure 21: North America Market Value (US$ Million) by Country, 2023 to 2033

Figure 22: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 23: North America Market Volume (Tons) Analysis by Country, 2018 to 2033

Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 26: North America Market Value (US$ Million) Analysis by Product, 2018 to 2033

Figure 27: North America Market Volume (Tons) Analysis by Product, 2018 to 2033

Figure 28: North America Market Value Share (%) and BPS Analysis by Product, 2023 to 2033

Figure 29: North America Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033

Figure 30: North America Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 31: North America Market Volume (Tons) Analysis by Application, 2018 to 2033

Figure 32: North America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 33: North America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 34: North America Market Attractiveness by Product, 2023 to 2033

Figure 35: North America Market Attractiveness by Application, 2023 to 2033

Figure 36: North America Market Attractiveness by Country, 2023 to 2033

Figure 37: Latin America Market Value (US$ Million) by Product, 2023 to 2033

Figure 38: Latin America Market Value (US$ Million) by Application, 2023 to 2033

Figure 39: Latin America Market Value (US$ Million) by Country, 2023 to 2033

Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 41: Latin America Market Volume (Tons) Analysis by Country, 2018 to 2033

Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 44: Latin America Market Value (US$ Million) Analysis by Product, 2018 to 2033

Figure 45: Latin America Market Volume (Tons) Analysis by Product, 2018 to 2033

Figure 46: Latin America Market Value Share (%) and BPS Analysis by Product, 2023 to 2033

Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033

Figure 48: Latin America Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 49: Latin America Market Volume (Tons) Analysis by Application, 2018 to 2033

Figure 50: Latin America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 52: Latin America Market Attractiveness by Product, 2023 to 2033

Figure 53: Latin America Market Attractiveness by Application, 2023 to 2033

Figure 54: Latin America Market Attractiveness by Country, 2023 to 2033

Figure 55: Europe Market Value (US$ Million) by Product, 2023 to 2033

Figure 56: Europe Market Value (US$ Million) by Application, 2023 to 2033

Figure 57: Europe Market Value (US$ Million) by Country, 2023 to 2033

Figure 58: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 59: Europe Market Volume (Tons) Analysis by Country, 2018 to 2033

Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 62: Europe Market Value (US$ Million) Analysis by Product, 2018 to 2033

Figure 63: Europe Market Volume (Tons) Analysis by Product, 2018 to 2033

Figure 64: Europe Market Value Share (%) and BPS Analysis by Product, 2023 to 2033

Figure 65: Europe Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033

Figure 66: Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 67: Europe Market Volume (Tons) Analysis by Application, 2018 to 2033

Figure 68: Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 69: Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 70: Europe Market Attractiveness by Product, 2023 to 2033

Figure 71: Europe Market Attractiveness by Application, 2023 to 2033

Figure 72: Europe Market Attractiveness by Country, 2023 to 2033

Figure 73: Asia Pacific Market Value (US$ Million) by Product, 2023 to 2033

Figure 74: Asia Pacific Market Value (US$ Million) by Application, 2023 to 2033

Figure 75: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033

Figure 76: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 77: Asia Pacific Market Volume (Tons) Analysis by Country, 2018 to 2033

Figure 78: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 79: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 80: Asia Pacific Market Value (US$ Million) Analysis by Product, 2018 to 2033

Figure 81: Asia Pacific Market Volume (Tons) Analysis by Product, 2018 to 2033

Figure 82: Asia Pacific Market Value Share (%) and BPS Analysis by Product, 2023 to 2033

Figure 83: Asia Pacific Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033

Figure 84: Asia Pacific Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 85: Asia Pacific Market Volume (Tons) Analysis by Application, 2018 to 2033

Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 88: Asia Pacific Market Attractiveness by Product, 2023 to 2033

Figure 89: Asia Pacific Market Attractiveness by Application, 2023 to 2033

Figure 90: Asia Pacific Market Attractiveness by Country, 2023 to 2033

Figure 91: MEA Market Value (US$ Million) by Product, 2023 to 2033

Figure 92: MEA Market Value (US$ Million) by Application, 2023 to 2033

Figure 93: MEA Market Value (US$ Million) by Country, 2023 to 2033

Figure 94: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 95: MEA Market Volume (Tons) Analysis by Country, 2018 to 2033

Figure 96: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 97: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 98: MEA Market Value (US$ Million) Analysis by Product, 2018 to 2033

Figure 99: MEA Market Volume (Tons) Analysis by Product, 2018 to 2033

Figure 100: MEA Market Value Share (%) and BPS Analysis by Product, 2023 to 2033

Figure 101: MEA Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033

Figure 102: MEA Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 103: MEA Market Volume (Tons) Analysis by Application, 2018 to 2033

Figure 104: MEA Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 105: MEA Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 106: MEA Market Attractiveness by Product, 2023 to 2033

Figure 107: MEA Market Attractiveness by Application, 2023 to 2033

Figure 108: MEA Market Attractiveness by Country, 2023 to 2033

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