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Green Polymer Market Size to Surpass Around US$ 74.95 Billion 2030, Recording a CAGR of 9.6% | Report by CoherentMI

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BURLINGAME, Calif., Feb. 13, 2024 /PRNewswire/ — CoherentMI published a report, titled, Green Polymer Market was valued at US$ 39.46 Billion in the year 2023, and is anticipated to reach a US$ 74.95 Billion by 2030, with growing at a CAGR of 9.6% during forecast period 2023-2030.

Market Dynamics:

The Green Polymer Market is driven by two main factors. Firstly, the growing awareness about environmental sustainability is fueling the demand for green polymer products. With increasing concerns over environmental pollution and the need to reduce carbon emissions, there is a rising preference for eco-friendly and sustainable materials. Green polymers offer several advantages over traditional plastics, such as being biodegradable, reducing waste, and minimizing the dependence on fossil fuels.

Secondly, government initiatives and regulations promoting sustainable development and responsible manufacturing practices are also driving the growth of the Green Polymer Market. Governments across the globe are taking measures to reduce plastic waste and promote the use of environmentally friendly alternatives. These initiatives include bans on single-use plastics, incentives for the use of green polymers, and the implementation of recycling programs.

Green Polymer Market Report Snapshot:

Report Coverage

Details

Study Period

2023 – 2030

Base Year of Estimation

2022

CAGR

9.6 %

Largest Market

North America

Market Concentration

High

Major Players

BASF, Dow Chemical, Braskem, NatureWorks, Novamont and Among Others

Segments Covered

By Type, By Application, By Polymer Type, By Geography

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Growth Drivers

• Increasing consumer preference for sustainable materials
• Stringent government regulations
• Advancements in bioplastics
• Corporate sustainability goals

Restraints & Challenges

• High production costs
• Performance limitations
• Lack of adequate infrastructure

 

Key Market Takeaways:

The Green Polymer Market Size is anticipated to witness a CAGR of 9.6% during the forecast period 2023-2030, owing to the increasing demand for sustainable and eco-friendly materials.On the basis of types of polymers, the biodegradable segment is expected to hold a dominant position. Biodegradable polymers are widely used in various applications such as packaging, agriculture, automotive, electronics, textiles, healthcare, and others. Their ability to degrade naturally and reduce waste makes them a preferred choice for sustainable materials.In terms of region, North America is expected to hold a dominant position over the forecast period. The region has been at the forefront of environmental initiatives and has well-established regulations and support for green technologies. Additionally, there is a growing consumer awareness and preference for eco-friendly products in the region.Key players operating in the Green Polymer Market include BASF, Dow Chemical, Braskem, NatureWorks, Novamont, Indorama Ventures, Danimer Scientific, Teijin, Mitsubishi Chemicals, and BioAmber. These key players have been investing in research and development to develop innovative green polymers and expand their product portfolio. Their focus on sustainability and eco-friendly solutions gives them a competitive edge in the market.

Market Trends:

The Green Polymer Market is witnessing two key trends. Firstly, there is a growing trend of research and development activities in the field of biodegradable and renewable polymers. Manufacturers are investing in research to develop innovative green polymers that can meet the increasing demand for eco-friendly materials. These efforts aim to reduce the environmental impact of plastics and provide sustainable solutions.

Secondly, there is a rising trend of collaborations and partnerships between companies in the green polymer industry. Companies are joining forces to leverage their expertise and resources to develop and commercialize new green polymer products. These collaborations allow for the sharing of knowledge, technology, and infrastructure, leading to faster product development and market penetration.

Recent development:

In March 2022, BASF introduced the ecovio AM13310 biodegradable plastic for use in 3D printing filaments.In January 2021, Indrorama ventures unveiled IRCPET, a new line of recyclable food packaging solutions made of polyethylene terephthalate.

Read complete market research report, “Green Polymer Market Size And Share Analysis – Growth Trends And Forecasts (2023 – 2030)“, Published by CoherentMI.

Green Polymer Market Opportunities:

Rising Demand for Biodegradable Polymers

The increasing concern for environmental sustainability has led to a growing demand for biodegradable polymers. Biodegradable polymers are derived from renewable sources and can be broken down by microorganisms into natural compounds, reducing their impact on the environment. These polymers have a wide range of applications, including packaging, agriculture, textiles, and healthcare. With governments and consumers becoming more conscious of environmental issues, there is a significant market opportunity for biodegradable polymers.

Growing Automotive Sector

The automotive industry is a major consumer of polymers for various components and applications, including interior parts, exteriors, electrical systems, and engine parts. Green polymers, such as biobased and recycled polymers, offer a more sustainable alternative to traditional petroleum-based polymers. With the automotive sector experiencing significant growth, especially in emerging markets, there is a great market opportunity for green polymers in this industry.

In conclusion, the Green Polymer Market presents significant opportunities for biodegradable polymers and in the automotive sector. The rising demand for sustainable materials and the growing automotive industry provide a favorable market environment. With North America leading the market and key players actively investing in research and development, the Green Polymer Market is expected to experience steady growth in the coming years.

Green Polymer Market Segmentation:

By TypeBiodegradableBiobasedRecycledBio-based, non-biodegradablePartially bio-basedBy ApplicationPackagingAgricultureAutomotiveElectronicsTextilesHealthcareOthers (construction, consumer goods, etc.)By Polymer TypeStarch-basedPolylactic acid (PLA)Polyhydroxyalkanoates (PHA)Polyethylene terephthalate (PET)Polybutylene succinate (PBS)Polytrimethylene terephthalate (PTT)Others (PUR, PVA, etc.)By GeographyNorth AmericaEuropeAsia PacificLatin AmericaMiddle East and Africa

Purchase this exclusive report @ https://www.coherentmi.com/industry-reports/green-polymer-market/buyNow

Top Questions Answered in this Report:

What factors are impeding the growth of the market for Green Polymer?What are the primary drivers fostering growth in the market for Green Polymer?Which segment stands out as the leading component in the Green Polymer Market?Who are the key players actively involved in the Green Polymer Market?Which region is poised to take the lead in the Green Polymer Market?What is the projected CAGR for the Green Polymer Market?

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About Us:

At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today’s rapidly changing business landscape.

Contact Us:
Mr. Shah
Senior Client Partner – Business Development
CoherentMI
Phone:
U.S.: +1-206-701-6702
U.K: +44-020-8133-4027
JAPAN: +81-50-5539-1737
INDIA: +91-848-285-0837
Email: sales@coherentmi.com
Website: https://www.coherentmi.com

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SOURCE Coherent Market Insights

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D-Link’s AQUILA PRO AI Wins Best AI Innovative Product of the Year at FSA 2024

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TAIPEI, Oct. 7, 2024 /PRNewswire/ — D-Link, a global leader in networking solutions, proudly announces that its AQUILA PRO AI has been awarded the prestigious title of Best AI Innovative Product of the Year at the 2024 CISO 50 & Future Security Awards (FSA). This award, hosted by JBR by CPI Media Group and tahawultech.com, recognizes forward-thinking companies and individuals driving innovation in these critical sectors.

D-Link’s AQUILA PRO AI series was honoured for its advanced AI-driven capabilities including the AI Wi-Fi Optimizer, AI Mesh Optimizer, and AI Traffic Optimizer that deliver smart, reliable, and superior Wi-Fi performance. The M30 AX3000 Wi-Fi 6 Smart Mesh Router, M60 AX6000 Wi-Fi 6 Smart Mesh Router, and E30 AX3000 Wi-Fi 6 Mesh Range Extender exemplify D-Link’s pioneering approach to integrating AI into networking, combining intuitive controls with powerful features that ensures users enjoy a seamless and uninterrupted experience.

The AQUILA PRO AI represents the future of intelligent networking, designed to enhance network performance while providing robust protection through WPA3 encryption and ETSI EN 303 645 cybersecurity certification against evolving cyber threats.  This recognition at the CISO 50 & FSA underscores D-Link’s unwavering commitment to advancing AI-driven networking solutions, offering smarter, safer connectivity for modern homes.

The AQUILA PRO AI M30, M60 and E30 are now available through D-Link’s global network of authorized distributors and resellers. For more information, please visit www.dlink.com/en/for-home/wifi/aquila-pro-ai or contact local D-Link representative.

About D-Link

D-Link, a renowned global brand and leader in the networking industry, was established in 1987 in Taiwan. With operations in 90 locations across 43 countries, D-Link provides networking solutions for individuals, homes, businesses, and industries, including a comprehensive range of industry-leading network solutions and AI-driven cloud management services. Find out more about D-Link at www.dlink.com

SOURCE D-Link

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Advantech Launches the IEC 62443 Certification Service to Enable Customers to Tackle IoT Security Challenges at Lower Costs

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TAIPEI, Oct. 6, 2024 /PRNewswire/ — Advantech (TWSE: 2395), a leading provider of AIoT platforms and services, announces the launch of the IEC 62443 Certification Service, tailored to the certification needs of edge computing equipment in accordance with IEC 62443 and related standards. Advantech offers a comprehensive solution to enhance software protection and significantly improve the efficiency of testing and certification. Advantech joins forces with Bureau Veritas, a global leader in testing, inspection, and certification, to help customers overcome security challenges in AIoT and edge computing.

With the rapid growth of IoT and edge computing, managing and operating computing devices has become increasingly complex. The IEC 62443 series of standards provides a comprehensive security framework for IoT, widely adopted across industries such as energy, healthcare, and transportation, to prevent losses from information security vulnerabilities. However, the framework can be difficult to navigate. For example, IEC 62443-4-2 focuses on security specifications for systems, components, and more, focusing on protection at the lower embedded level. For equipment builders or system integrators, understanding and implementing these standards can be challenging. With the help of Bureau Veritas, Advantech has launched the “IEC 62443 Certification Service,” helping customers meet certification requirements while saving time and reducing costs.

Advantech is a pioneer in the industrial and embedded computing industry, providing an IEC 62443 solution for CPU-based devices. With in-house testing and verification capabilities, Advantech collaborates with customers on compliance from product design to deployment. The solution consists of two key components:

IEC 62443-4-2 Functional Security: Advantech’s x86-based products will gradually incorporate basic protection measures, including firmware, operating systems, IoT connections, and more. These products will utilize tools such as the Trusted Platform Module (TPM) and a whitelist control to enhance overall system security.

Advanced testing and certification services: Advantech offers Verification of Conformity (VOC) or formal certification (CB). Customers can choose from four scenarios, depending on the need for IEC 62443-4-2 compliance. With their existing functional safety testing process methods, Advantech can help customers significantly reduce both the time and costs associated with certification. Notably, Advantech’s EV supply equipment (EVSE) controller, the AFE-E350, has acquired Bureau Veritas’ VoC. The same certification for the ARK-3534B, an industrial automation system, is underway.

Miller Chang, President of Advantech’s Embedded-IoT Group, emphasized that securing edge computing devices is a complex challenge that requires collaboration among customers, edge computing providers, and certification organizations. “By partnering with Bureau Veritas’ security team, we aim to empower customers across various industries to reduce certification costs and time, speed up the implementation of security measures, and achieve safe and smart IoT security”, said Miller.

Pascal Le Ray, Vice President of Bureau Veritas for Northeast Asia, pointed out that Advantech is a leader in the AIoT industry, with powerful edge computing platforms and software capabilities. Over the past year, Bureau Veritas has partnered with Advantech, investing significant resources to develop efficient and cost-effective certification solutions. “Looking ahead, we will continue to assist Advantech in gaining a greater competitive edge in international markets. As global awareness of cybersecurity rises, countries are implementing mandatory regulations, making it essential for companies to obtain IEC 62443 certification early on. This will greatly enhance their product competitiveness and help them seize international business opportunities.”

Bureau Veritas is a global leader in testing, inspection and certification, dedicated to providing international services and related testing and certification support to manufacturers worldwide. The organization keeps pace with the latest developments in cybersecurity technology. Drawing on experience from France and Taiwan, its team of cybersecurity experts employs a professional scientific testing and evaluation process to help many renowned manufacturers successfully implement the IEC 62443 series of standards and achieve relevant certifications for network security compliance. Additionally, Bureau Veritas Taiwan’s cybersecurity team is the only authorized entity in Taiwan to issue ISASecure certificates and is fully equipped to certify compliance with the entire IEC 62443 series of standards.

Download the Advantech Whitepaper on IEC 62443 Certification: https://www.advantech.com/en/form/7379e3b5-11fb-4d47-b962-0de7b8df2a32?CMSID=61999798-d240-4193-8693-79b8fcbf6cd3

About Advantech

Advantech has the corporate vision to “Enable an Intelligent Planet”. The company is a global leader in the fields of IoT intelligent systems and embedded platforms. To embrace the trends of AIoT and artificial intelligence, Advantech has fully deployed its sector-driven strategy, focusing particularly on seven major sectors. This deployment aims to nurture market sectors and enhance core competitiveness. In the meantime, Advantech has integrated its existing product group – the AIoT + Edge computing hardware platform – with the mature WISE-IoT software platform. Together with our industrial AI solutions and business expertise, this integration will form an “orchestrator” model for seamless industrial chain connections, benefiting both our partners and clients. Advantech is also working with business partners to co-create business ecosystems that accelerate the goal of industrial intelligence. (www.advantech.com)

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Kerry Logistics Network Partners with MUFG Bank in Syndicated Sustainability-linked & Social Term Loan of HK$1 Billion – The First of Its Kind in the Asia Pacific

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HONG KONG, Oct. 7, 2024 /PRNewswire/ — Kerry Logistics Network Limited (‘Kerry Logistics Network’, ‘KLN’; Stock Code 0636.HK) and a syndicate solely led by MUFG Bank Ltd. (‘MUFG’) have signed a five-year HK$1 billion syndicated Sustainability-linked & Social Term Loan Facility (‘Facility’). This Facility is a first-of-its-kind ESG-linked syndicated loan structure in the Asia Pacific, validating KLN’s pioneer position in the logistics sector and commitment to Environment, Social and Governance (‘ESG’).

MUFG acted as the sole Mandated Lead Arranger, Bookrunner and Underwriter and Sustainability & Social Loan Structuring Advisor in the Facility. The oversubscribed transaction showcases MUFG’s unparalleled syndication arrangement and ESG structuring capabilities, while leveraging its deep relationship network to broaden the investor base for clients.

The Facility was tailored with a cutting-edge ESG structure comprising both sustainability-linked loan and social loan tranches. Under the terms of the Facility, KLN is to invest in social initiatives to generate positive impact to the communities it serves across Hong Kong and the Mainland of China. Other social targets include a list of eligible social projects providing access to employment, essential services and affordable basic infrastructure.

Ellis Cheng, Executive Director and Chief Financial Officer of Kerry Logistics Network, said, “The overwhelming subscription result demonstrates the banking industry’s trust in the impact of KLN’s social contributions. KLN appreciates MUFG’s leadership in spearheading the company’s inaugural syndication and the bespoke ESG structure is a testament of KLN’s commitment to create a greener, safer and better-connected world.”

Cerlin Ip, MUFG’s Head of Global Corporate Banking, Hong Kong, said, “We are honoured to continue deepening our partnership with KLN. This landmark sustainability-linked and social syndicated loan facility has further demonstrated KLN’s pioneering position in the logistics sector and deep commitment to sustainability, while reaffirming MUFG’s efforts in partnering clients to pursue their environmental and business agendas. We look forward to deepening our collaboration with KLN in their journey to a sustainable future.”

About Kerry Logistics Network Limited (Stock Code 0636.HK)

Kerry Logistics Network is an Asia-based, global 3PL with a highly diversified business portfolio and extensive coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal) and e-commerce to industrial project logistics and infrastructure investment.

With a global presence across 60 countries and territories, Kerry Logistics Network has established a solid foothold in half of the world’s emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.

Kerry Logistics Network generated a revenue of over HK$47.4 billion in 2023. It is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Corporate Sustainability Benchmark Index.

About MUFG

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 markets. The Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

MUFG Bank, Ltd. is Japan’s premier bank, with a global network spanning more than 40 markets. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments, and individuals worldwide.

In Asia Pacific, MUFG has a presence across 18 markets – Australia, Bangladesh, China, Hong Kong, Indonesia, India, South Korea, Laos, Malaysia, Myanmar, New Zealand, Pakistan, Philippines, Singapore, Sri Lanka, Taiwan, Thailand, and Vietnam.

It has also formed strategic partnerships with some of the most prominent banks in South-east Asia, further augmenting its unrivalled network across the region – VietinBank in Vietnam, Krungsri in Thailand, Security Bank in the Philippines, and Bank Danamon in Indonesia.

Under the Group’s current three-year Medium Term Business Plan ending FY2026, MUFG is dynamically pursuing opportunities to expand and invest in Asia’s growth. This will be guided by an unrelenting focus on capturing recurring revenue opportunities; challenging ourselves in new domains; capitalising on the growth of key markets like India, cultivating an Asian digital strategy while consolidating and concentrating on core competencies.

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SOURCE Kerry Logistics Network Limited

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