Report ID: UCMIG15B2044
Report ID:
UCMIG15B2044 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market for bio-based elastomers was estimated at USD 417.82 million in 2021, and from 2022 to 2030, it is anticipated to increase at a CAGR of 13.9%. Manufacturers of conventional elastomers are being compelled to create partially or entirely bio-based elastomers in response to the rising demand for using bio-based products to lessen carbon footprints. Petroleum-based thermoset and thermoplastic elastomers are heavily reliant on petrochemicals. The erratic nature of crude oil prices as a result of geopolitical issues has greatly influenced market developments.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Diversified Chemicals by segment aggregation, the contribution of the Diversified Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG15B2044