Since the advent of the Fourth Industrial Revolution, researchers have found various useful polymers in the past decades. Limonene polymer is a compound widely used in electronics, healthcare, packaging, textiles, and agriculture. In this blog, we will delve into various aspects of the limonene polymer market and its future growth.

Petroleum-based plastics are related to numerous environmental issues, including greenhouse gas emissions. For instance, according to data revealed by the World Health Organization in 2023, Earth emits almost 54.6 billion tons of carbon dioxide, out of which plastics were responsible for 3.3% of global emissions.

Companies are trying to substitute these harmful materials with eco-friendly polymers such as limonene. Limonene is a terpene that can be developed from more than 301 plants and is found as a major component in citrus oils. In 2022, Research Nester found that more than 60,100 tons of limonene is accumulated every year by extraction from orange peel waste. Additionally, various governments are emphasizing sustainable management and compliance with environmental regulations. Data found in 2022 by the IOP Conference Series stated that agricultural waste in Russia reached 650 million tons annually. There is a wide scope for market players from various industries to benefit from the abundant availability of raw materials. Let us take a glance at various industries that are using limonene:

Limonene in the healthcare industry

Limonene is widely used to promote weight loss and treat diseases such as cancer and bronchitis. People are also consuming limonene to reduce triglycerides and lower blood sugar levels. Researchers have suggested that it possesses anti-inflammatory, anti-stress, and anti-oxidant properties. This is why pharmaceuticals are adding limonene to creams and ointments to penetrate the skin. Furthermore, the below data illustrates that there is a huge demand from people.

• In 2022, the World Health Organization revealed that almost 1 in 8 people are obese.
• Data published by the International Diabetes Federation revealed that there will be almost 643 million people suffering from diabetes by 2030.
• According to data published by the American Cancer Society in 2022, almost 20 million cancer cases were diagnosed.

These numbers illustrate that limonene holds a strong consumer base, and market players are seeking growth opportunities out of it.

Limonene in Electronics

D-limonene is used as a substitute for chlorinated chlorofluorocarbons, hydrocarbons, and other solvents. Limonene is used as a green solvent in the fabrication of thin-film electronic devices such as solar cells. Additionally, Research Nester found that in 2021, semiconductor unit sales reached around 1.1 trillion unit shipments. The rising preference for using green solvents is bolstering the growth of the market during the forecasted period.

Limonene in Agriculture

Limonene is excellent to use as an environment-friendly pesticide and has low toxicity for birds, fish, and mammals. Moreover, according to data published by the European Environment Agency in 2023, almost 83.2% of agricultural soils tested contain pesticide residue. So, farmers are inclining more towards eco-friendly pesticides such as limonene to use for crops.

Other than this, limonene polymers are also used in textiles and packaging. Let us dive into the limonene market analysis:

Limonene Polymers Market Analysis

The limonene polymers market size is projected to reach USD 50 billion by the end of 2036, thriving at a CAGR of 9% during the forecasted period. Other than this, in 2023, the limonene polymers industry size reached USD 30 billion. The prominent growth drivers of the market are:

• Increasing focus on mitigating carbon emissions
• Expanding packaging sector
• Increasing popularity of aromatherapy and essential oils

Furthermore, Asia Pacific is anticipated to dominate the industry, accounting for 43% of the share in 2022. The growth of the market can be attributed to the expansion in the pharmaceutical and personal care industries.

Other than this, North America market share is projected to rise from 23% in 2022 to 25% in the year 2032. The growth can be attributed to the rising efforts for green solvents in industries.

Some of the prominent companies in the domain are Green Dot Bioplastics Inc, Nature Works LLC, Danimer Scientific, Biome Bioplastics Limited, BAF SE, Braskem SA, TotalEnergies Company, Corbion NV, Huntsman International LLC.

Wrapping up

The above data illustrates that the market holds innumerable lucrative opportunities. However, budding as well as established market players are required to understand the intricacies of the market. An exhaustive market research report contains important factors such as market restraints, growth-propelling factors, leading players, the latest trends, regional analysis, etc. The market players will be able to understand the intricacies of the market and make sound decisions for the business. This will also help them to carve a niche for themselves and stay ahead of the competition. Additionally, information about market constraints allows market players to make appropriate strategies for their business.