Limonene Polymers Market: Introduction
- Limonene epoxide (1, 2-limonene oxide) easily reacts with carbon dioxide inserted in a ring-opening copolymerization reaction and forms polycarbonates of exceptional chemical and physical properties.
- Limonene polymers are manufactured through the polymerization of bio-based raw materials through engineered industrial processes. Limonene polymers are usually manufactured from limonene derived from lemon, orange, pineapple and others.
- Limonene polymers provides better scratch resistance and has a softer surface as compared to other synthetic polymers.
- Primary applications of limonene polymers are in diverse sectors such as agriculture, textile, electronics, packaging, and healthcare.
Key Manufacturers Operating in Global Limonene Polymers Market
The limonene polymers market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the limonene polymers market include:
- BASF SE
- MCNS
- RAMPF Holding GmbH Co. KG
- Covestro AG
- Cargill, Inc.
- Huntsman International LLC
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Key Drivers and Restraints of Limonene Polymers Market
- The shift toward sustainable practices and growing environmental concerns are projected to drive the limonene polymers market. The limonene polymers market in Europe and North America is expanding at a rapid pace. Increasing intervention of FDA and related organizations, in terms of food safety, is largely promoting the usage of biodegradable and food grade plastics for beverage and snack consumption. Limonene polymers are majorly utilized in fruit and vegetable packaging in supermarkets, for bread bags and bakery boxes, bottles, envelopes and display carton windows, and shopping or carrier bags. Restaurant chains and food processing industries are increasingly adopting biodegradable materials for food packaging. Consumer awareness is also rising rapidly, especially in emerging economies, in terms of food safety, as some plastics are proven carcinogenic.
- However, the high cost of limonene polymers is projected to hamper the global limonene polymers market
Limonene Polymers Market: End-user Segment
- Based on end-user, the global limonene polymers market is divided into agriculture, textile, electronics, packaging, healthcare, and others
- The packaging segment is dominated the limonene polymers market
- Packaging is a prominent end-user segment of the market for limonene polymers. These polymers exhibit excellent clarity and gloss, resistance to food fats/oils, and aroma barrier. Additionally, they also provide stiffness, twist retention, and printability to the packaging.
Covid-19 Impact on Global Limonene Polymers Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- The limonene polymers market contracted, as it was affected due to disruptions in the global supply chain and volatility in raw material prices
- This situation arose due to a decline in demand from agriculture, textile, electronics, and packaging sectors. The market is also highly dependent on the fashion industry.
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Europe to hold a leading share of Global Limonene Polymers Market
- In terms of region, the limonene polymers market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East Africa
- Europe is expected to hold a major share of the global limonene polymers market, followed by North America and Asia Pacific, during the forecast period
- Public awareness and government initiatives in the region have boosted the use of biodegradable polymers in carrier bags, food packaging, food services (cutlery, etc.), and organic waste caddy liners
- Various countries in the region have been focusing on offering more eco-friendly packaging. This has increased the demand for polylactic acid from the packaging sector.
- Currently, the packaging sector in the U.K. recorded annual sales of GBP 11 billion, and it employs more than 85,000 people
- It represents about 3% of the total manufacturing in the U.K., which is a major contributor to the country’s GDP
- Non-U.K.-based companies own much of the country’s packaging industry
- Rise in need for small size packaging and the increase in consumption habits with the change in lifestyles are anticipated to propel the demand for bio-based polymers during the forecast period
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