Industry Analysis of CO2-based Polymers in North America
Study on CO2-based Polymers in North America by Polycarbonates and Polyols for Poly(urethane) Foam for Packaging, Trays, Automotive Component Manufacturing, and Others from 2023 to 2033
Analysis of CO2-based Polymers Covering Countries Include United States, Canada and many more
CO2-based Polymer Demand Outlook for North America (2023 to 2033)
CO2-based polymer sales in North America are estimated at US$ 596 million in 2023 and are projected to rise at a CAGR of 10.5% to reach US$ 1.63 billion by 2033-end, according to a new study by experienced analysts at Fact.MR.
Carbon dioxide is essential to the production of CO2-based polymers, which are a special class of plastics. Incorporation of CO2 into polymers accomplishes several goals, including environmental sustainability and a reduction in reliance on petrochemicals. Researchers work to create more environmentally friendly alternatives to conventional petroleum-derived polymers by utilizing CO2, a commonly available and plentiful greenhouse gas. This project helps address the environmental effects associated with the production and disposal of plastics.
They present numerous benefits compared to conventional plastics. Firstly, they have the potential to capture and utilize carbon emissions from industrial processes, which is environmentally advantageous. Additionally, they diminish our reliance on fossil fuels, as CO2 serves as a more sustainable resource. Moreover, these polymers often exhibit improved properties, including enhanced strength and flexibility. They find applications in various sectors such as packaging, adhesives, and medical devices.
Circular polymers are considered more sustainable than virgin plastics because they reduce the demand for new raw materials, such as petroleum-based feedstocks. This helps lower carbon emissions and conserves natural resources. The growth of carbon dioxide-based polymers primarily stems from the escalating demand for sustainable and environmentally friendly materials. As environmental concerns continue to gain prominence, there is an increasing need for alternatives to traditional petrochemical-based plastics.
| Report Attributes | Details |
|---|---|
| CO2-based Polymer Sales in North America (2022A) | US$ 549.1 Million |
| Estimated Sales Value (2023E) | US$ 596 Million |
| Forecasted Sales Value (2033F) | US$ 1.63 Billion |
| Sales Growth (2023 to 2033) | 10.5% CAGR |
| Sales Volume in United States (2033F) | 924.2 KT |
| Sales Growth in United States (2023 to 2033) | 10.7% CAGR |
| Sales Volume in Canada (2033F) | 108.3 KT |
| Sales Growth in Canada (2023 to 2033) | 9.6% CAGR |
| Polycarbonates Segment Growth Rate (2023 to 2033) | 11.54% CAGR |
| Packaging Segment Growth Rate (2023 to 2033) | 11.1% CAGR |
| Key Companies Profiled |
|
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What’s Leading to the Growing Requirement for CO2-based Polymers in North America?
“Government Regulations and Resource Efficiency to Drive CO2-based Polymer Sales”
Government policies and regulations promoting sustainable practices and reducing carbon emissions are creating a favorable environment for the adoption of CO2-based polymers. Incentives and mandates encourage businesses to explore environmentally friendly alternatives.
Utilization of CO2 as a raw material for polymer production reduces the dependence on fossil fuels. It contributes to the efficient use of carbon resources and minimizes the environmental impact associated with extracting and processing petrochemical feedstocks.
“Increasing Interest in Environment-friendly Products to Attain Sustainability”
Increased utilization of plastic items has contributed significantly to the accumulation of extensive plastic waste, thereby exacerbating one of the world's foremost environmental challenges. Despite these concerns, the consumption of plastic products has continued to rise due to escalating demand for such items. Concurrently, carbon dioxide (CO2) emissions are on the ascent, stemming from diverse sources, including vehicles and manufacturing facilities.
To address this predicament, there is a growing call for carbon capture and utilization (CCU) as a viable solution. CCU presents a remedy to various challenges by offering feedstock generated through the capture of carbon dioxide. It emerges as a comprehensive solution that supports sustainable development, fosters national progress, and aligns with global agendas such as the Paris Agreement on the environment.
Country-wise Insights
What Significant Developments are Being Observed in the United States Regarding CO2-based Polymers?
“Environmental Awareness and Research & Development Activities Enhancing Business Scope”
Product sales in the United States are projected to exhibit significant growth over the course of the projected period (2023 to 2033), at a CAGR of 10.7%.
Environmental sustainability and the reduction of carbon emissions are significant drivers for the adoption of CO2-based polymers in the United States. Companies and consumers are increasingly looking for eco-friendly alternatives to traditional plastics.
Universities, research institutions, and private companies in the US have been actively engaged in research and development efforts related to CO2-based polymers. This includes developing innovative processes and materials that incorporate captured CO2.
How are Sales of CO2-based Polymers Faring in Canada?
“Sustainability Focus on Reducing Carbon Emission and Canadian Legislation”
CO2-based polymer demand in Canada is predicted to increase at a CAGR of 9.6% through 2033.
Canada, like many other countries, has been placing increased emphasis on sustainability and reducing carbon emissions. This has driven interest in CO2-based polymers as a more environmentally friendly alternative to traditional plastics.
Canada has been implementing and updating regulations related to sustainability and environmental impact. Compliance with these regulations is a key consideration for businesses manufacturing carbon dioxide-based polymers.
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Category-wise Insights
Why are Polycarbonates the Top Choice in CO2-based Polymer Production?
“Environmental Benefits to Reduce Carbon Emissions”
Worldwide sales of polycarbonates are projected to rise at a CAGR of 11.54% from 2023 to 2033.
As one of the main materials obtained from carbon dioxide (CO2) capture and usage, polycarbonates play a significant role in CO2-based polymers. Due to their promise of sustainability and minimal environmental effects, these CO2-based polycarbonates are drawing attention.
Polycarbonates produced from CO2-based processes offer environmental benefits. They reduce the reliance on fossil fuels and mitigate carbon emissions, contributing to sustainability goals.
CO2-based polycarbonates often exhibit properties similar to traditional polycarbonates, including high-performance polymers, transparency, and heat resistance. These properties make them suitable for a wide range of applications, including automotive components, electronics, construction polymers, and consumer goods.
What Makes CO2-based Polymers a Popular Choice for Packaging Applications?
“Consumer Preference for Sustainable Packaging to Reduce Environmental Impact”
The packaging segment is set to grow at a CAGR of 11.1% from 2023 to 2033.
Due to their potential to solve environmental issues and aid in the achievement of sustainability goals, CO2-based polymers are receiving more attention and finding use in the packaging sector.
Ongoing research and development efforts are focused on improving the efficiency of CO2 capture and utilization processes for polymer production. Innovations in catalysts and production methods are expected to enhance the viability of these materials in packaging.
Consumer awareness of environmental issues and sustainability is driving demand for packaging solutions that have a reduced environmental impact. CO2-based polymers respond to this preference by offering greener packaging options.
Competitive Landscape
Leading manufacturers of CO2-based polymers are striving to deliver products with superior environmental advantages, such as a smaller carbon footprint and less reliance on non-renewable resources.
- In March 2021, Radici Group, a global leader in polyamide polymer production and various chemical intermediates, made a substantial investment of 35 million euros. This investment was aimed at expanding the company's presence and operations in both Europe and North America.
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Key Segments of CO2-based Polymer Study in North America
-
By Type :
- Polycarbonates [Propylene Carbonate, Ethylene Carbonate, Cyclohexene Carbonate]
- Polyols for poly(urethane) Foam
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By Production Process :
- Electrochemistry
- Microbial Synthesis
- Thermocatalysis
-
By Application :
- Packaging [Films, Bottles, Containers]
- Trays
- Automotive Component Manufacturing [Interior Components, Structural Components]
- Construction Material production [Pipes, Panels, Insulation]
- Electronic Component Manufacturing [Casings, Connectors, Circuit Boards]
- Textile Processing [Fibers, Non-woven Fibers]
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By Country :
- United States
- Canada
- FAQs -
How much is the estimated sales of CO2-based polymers in North America in 2023?
Sales of CO2-based polymers in North America stand at US$ 596 million in 2023.
What is the demand projection for CO2-based polymers in North America?
Demand for CO2-based polymers in North America is predicted to rise at a CAGR of 10.5% from 2023 to 2033.
What is the demand outlook for CO2-based polymers in North America for 2033?
Sales of CO2 polymers in North America are projected to reach US$ 1.63 billion by 2033.
What is the growth prediction for CO2-based polymers in the United States?
CO2-based polymer demand in the United States is forecasted to rise at a CAGR of 10.7% from 2023 to 2033.
What is the projected sales volume of CO2-based polymers in Canada for 2033?
Sales volume of CO2-based polymers in Canada for 2033 is projected at 108.3 KT.
Industry Analysis of CO2-based Polymers in North America