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Bio-based Polypropylene (PP) Market

Bio-based Polypropylene (PP) Market

Bio-based Polypropylene (PP) Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

185

Base Year:

2021

Date

Apr - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1188

Segments Covered
  • By Source Corn, Sugarcane, Beet, Others
  • By Application Injection, Textile, Films, Others
  • By End- User Automotive, Building and Construction, Consumer Goods, Packaging, Others
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 39.41 Million
Revenue 2028Revenue 2028: USD 58.12 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 5.7%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Europe
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Bio-based Polypropylene (PP) Market Share

Market Synopsis:

Global Bio-based Polypropylene (PP) market is valued at USD 39.41 Million in 2021 and is projected to reach a value of USD 58.12 Million by 2028 at a CAGR of 5.7% during the forecast period.

The increased growth of the bioplastics industry along with the increased adoption of sustainable packaging solutions are some other major factors for the Bio-based Polypropylene (PP) Market growth. In addition, the increased use of Bio-based Polypropylene (PP) market across numerous industries such as packaging, automotive, consumer goods, and others is another major factor for the Bio-based Polypropylene (PP) market growth during the forecast period. The increased environmental concerns regarding plastic use coupled with the growing replacement of fossil-based feedstock with renewable materials are some other major drivers of the market. The increased demand for Bio-based Polypropylene (PP) among emerging economies such as India, China, Brazil, Indonesia, and others is one of the prominent opportunities for the Bio-based Polypropylene (PP) market over the upcoming years. However, the presence of substitutes such as bio-based PET and polylactic acid (PLA) is one of the key restraints in the growth of the Bio-based Polypropylene (PP) market.

Bio-based Polypropylene (PP) Market Size, 2021 To 2028 (USD Million)

Market Segmentation:

Below tree is interactive. You can click the nodes to get more information.

Corn to Continue Dominating the Bio-based Polypropylene (PP) Market:

The corn category dominated the global Bio-based Polypropylene (PP) market in 2021 and had more than 40% of the market share based on source in the same year. This is majorly due to the high water resistance of corn starch along with easy availability of this source. In addition, low-cost of corn led to its high preference among different applications is another key factor for category dominance. The corn category is an appropriate choice for packaging industry due to its feature of providing enhanced oxygen barrier when in dry state.

Injections to Hold Largest Share in the Bio-based Polypropylene (PP) Market:

In 2021, the injection segment held for the major chunk in the market. This is primarily owing to the high demand for injection-molded parts across end-use industries such as automotive, packaging, and construction among others. Besides, the high use of Bio-based Polypropylene (PP) films in the packaging industry is projected to boost the films category growth during the forecast period.

Packaging Segment Lead the End Users of the Bio-based Polypropylene (PP) Market:

The packaging category was the leader in the Bio-based Polypropylene (PP) market in 2021. The Bio-based Polypropylene (PP) increased demand for bio-based packaging across industries such as food & beverages, consumer goods, and automotive among others. The growing packaging industry and rising demand for sustainable packaging solutions are some other major factors for the growth of the packaging category over the forecast period.

Besides, the consumer goods category is projected to witness lucrative growth in the upcoming years due to the rapid increase of Bio-based Polypropylene (PP) products in numerous household applications such as table cloth, bottles, utensils, and others.

Asia Pacific Bio-based Polypropylene (PP) Market to Grow at the Fastest CAGR:

The stringent government regulations that support bio-based polymers use across industries along with the high adoption rate of bio-based polymers among consumers are the major factors for the expected Asia Pacific dominance. This is due to increase in the usage of Bio-based Polypropylene (PP) across industries including consumer goods, automotive, and construction along with the growing consumption of Bio-based Polypropylene (PP) in the packaging industry.

Asia Pacific is projected to witness the fastest growth over the forecast period. The rapidly growing packaging industry and growing manufacturing industry across emerging economies are the key factors for the fastest growth of the region. In addition, the changing consumer outlook towards the use of eco-friendly and sustainable packaging solutions are some other key factors for the Bio-based Polypropylene (PP) market in the years to come.

Competitive Landscape:

There is high competition in the Bio-based Polypropylene (PP) market due to the presence of a number of players at global, regional, and country-level. The growing competition among major players led them to use different strategies such as new product development, partnership, geographic enhancement, and distribution expansion. Some of the major vendors in the Bio-based Polypropylene (PP) market are Borealis AG, Braskem S.A., Mitsui Chemicals, Inc., Novamont SpA, LyondellBasell Industries Holdings B.V., NaturePlast, Neste Oyj, The Dow Chemical Company, Global Bio-Energies SA, Trellis Earth Products, Inc., Biobent Polymers, and Global Bio-Energies..

Bio-based Polypropylene (PP) Market is Segmented as Follows:

Parameter Details
Segments Covered
  • Source (Corn, Sugarcane, Beet, Others)
  • Application (Injection, Textile, Films, Others)
  • End- User (Automotive, Building and Construction, Consumer Goods, Packaging, Others)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Borealis AG
  • Braskem S.A.
  • Mitsui Chemicals Inc.
  • Novamont SpA
  • LyondellBasell Industries Holdings B.V.
  • NaturePlast
  • Neste Oyj
  • The Dow Chemical Company
  • Global Bio-Energies SA
  • Trellis Earth Products Inc.
  • Biobent Polymers
  • and Global Bio-Energies.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Bio-based Polypropylene (PP) Market is Tabulated as Follows:

FAQ
Frequently Asked Question
  • The global Bio-based Polypropylene (PP) valued at USD 39.41 Million in 2020 and is expected to reach USD 58.12 Million in 2028 growing at a CAGR of 5.7%.

  • The prominent players in the market are Borealis AG, Braskem S.A., Mitsui Chemicals, Inc., Novamont SpA, LyondellBasell Industries Holdings B.V., NaturePlast, Neste Oyj, The Dow Chemical Company, Global Bio-Energies SA, Trellis Earth Products, Inc., Biobent Polymers, and Global Bio-Energies..

  • The market is project to grow at a CAGR of 5.7% between 2021 and 2028.

  • The driving factors of the Bio-based Polypropylene (PP) include

    • Demand for lightweight automotive materials to drive the bio-based polypropylene (PP) market

  • Europe was the leading regional segment of the Bio-based Polypropylene (PP) in 2020.