Market Research Report
North America Bio-based Chemicals Market Forecast 2019-2028
|Published by||Inkwood Research||Product code||963257|
|Published||Content info||210 Pages
Delivery time: 2-3 business days
|North America Bio-based Chemicals Market Forecast 2019-2028|
|Published: October 8, 2020||Content info: 210 Pages||
The North America bio-based chemicals market is evaluated to grow with a CAGR of 14.59, over the forecast years of 2019 to 2028. Key factors fuelling the region's market growth include the strict government regulations concerning the consumption of synthetic petroleum-based chemicals, and the growing environmental awareness among consumers.
The North America bio-based chemicals market growth is assessed by analyzing Canada and the United States. Canada's market growth is facilitated by increasing research and development activities conducted by research institutions and governmental departments. Moreover, it is further driven by the initiatives undertaken by private organizations functioning in Canada. As per the International Atomic Energy Agency, scientists from the Research Laboratories in Sciences Applied to Food (RESALA), and the Canadian Irradiation Center (CIC), has been working together with the International Atomic Energy Agency, for nearly fifteen years. Their endeavors include researching and developing active bioplastic packaging materials, like, biodegradable plastic bags. Moreover, the packaging based on natural polymers is highly beneficial in battling the challenges posed by non-biodegradable food wraps, thereby reducing environmental pollution and contamination.
Researchers use the method of combining renewable raw materials, such as starch or protein, and Nano-cellulose, an organic polymer comprising Nano-sized cellulose fibers. Then, the materials are extracted. As a result, the amalgamation leads to the development of materials with resourceful properties compared to the traditional elements. These properties include durability, and biodegradability. Thus, such factors are set to to drive the region's market growth, during the forecast period.
Prominent companies in the market are, BioAmber Inc, Methanex Corporation, Cargill Incorporated, Danimer Scientific Inc, Natureworks LLC, etc.