USD 38.99 million
Bio-based Polypropylene Market Size, Share, Growth Analysis, By Application(Injection, Textile, Films), By End User(Automotive, Electronics, Construction, Industrial Applications), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2352 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|Tables:
65
|Figures:
79
Bio-based Polypropylene Market Insights
Bio-based Polypropylene Market size was valued at USD 38.99 million in 2019 and is poised to grow from USD 41.18 million in 2023 to USD 63.7 million by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).
The key drivers of bio-based polypropylene market expansion in recent years have been increased demand for polypropylene from the construction and automotive industries, as well as rising environmental concerns regarding the use of synthetic polypropylene.
Demand for lightweight materials has increased across a number of industries, which is driving up demand for polypropylene. Emphasis on lowering carbon emissions in countries like Europe and the United States and government policies that support the usage and production of bio-based products are also contributing to the market's growth.
The rising demand for alternatives to petroleum-based chemicals among end users and the rising expense of these chemicals as a result of the fluctuating price of crude oil are also paving the way for the market's growth. Continuous advancements in biotechnology and chemical processing are also helping to fuel this industry's expansion and enable the production of innovative bio-based polymers like polyhydroxyalkanoate and polylactic acid, which are becoming more and more popular across a range of sectors. Therefore, such technological advancement would also aid in the bio-based polypropylene market's growth.
The global market for bio-based polypropylene (PP) is expected to expand as a result of the increasing need for bio-based polymers across producers of numerous end-use industries to reduce their carbon footprint and the strict regulatory regulations associated with synthetic polymers. The market for bio-based polypropylene (PP) is also expected to increase as a result of significant investments in R&D made by leading corporations and novel product offers. Another key factor projected to promote the growth of the bio-based polypropylene market is the rising food and beverage industry, growing number of U.S. manufacturers, and high use of bio-based PP for many processes such as printing, coating, and laminating.
US Bio-based Polypropylene Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Injection
Fastest Growth
Injection
Growth Rate
5.6% CAGR
Global Bio-based Polypropylene Market, 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Bio-based Polypropylene Market Segmental Analysis
The global bio-based polypropylene market is segmented based on application, end user, and region. Based on application, the bio-based polypropylene market is segmented into injection, textile, films. Based on end user, the bio-based polypropylene market is segmented into automotive, electronics, construction, industrial applications, others. Based on region, the Bio-based Polypropylene market is categorized into North America, Europe, Asia-Pacific, and MEA.
Injections to hold largest share in the bio-based polypropylene (PP) market
The injection segment accounted for a significant portion of the bio-based polypropylene market in 2021. This is primarily due to the increased demand for injection-molded parts across many end-use industries, including the construction, packaging, and automotive sectors. The demand for bio-based plastics is expected to rise as lightweight materials are used more frequently in the automotive industry along with growth in automobile sales in emerging markets like China and India. Automotive applications for this product include bumpers, lateral siding, rocker panels, body panels, dashboards, door pockets, panels, consoles, battery covers, heating, ventilation, and air conditioning systems, as well as air ducts and pressure vessels. The demand for bio-based PP is increasing as a result of the increased significance of recycling in the automotive sector. As a result, the need for bio-based polypropylene in the production of injection-molded components for use in construction, electronics packaging, automotive, and industrial applications will rise.
Films used in the packaging business are made of bio-based polypropylene. The bio-based polypropylene market will grow throughout the forecast period due to the expansion of the packaging sector and growing emphasis on environmentally friendly packaging.
Biaxially orientated polypropylene (BOPP), which has stronger strength and superior clarity, is often created by extruding and stretching bio-based polypropylene. Additionally, it can make coating, printing, and laminating considerably simpler. Vegetables, meats, and confectionary products are just a few examples of the many food items that are packaged with BOPP. It is also projected that a high demand for cutting-edge materials will be advantageous for this segment.
Packaging segment to hold the major share in the bio-based polypropylene market during the forecast period
The packaging segment has dominated the bio-based polypropylene market due to the significant demand from industries such as food & beverage, automotive, and consumer products. In the building and construction industry, bio-based polypropylene is used for roof panels, bathroom fixers, coatings, and insulation. The expansion of the building and construction sector in developing nations is linked to the demand for this product.
The consumer goods category is projected to experience the highest growth throughout the forecasted period due to the quick adoption of bio-based polypropylene in home applications like table and chairs, tablecloths, covers, kitchenware, and bottles. IKEA and Neste have teamed up to offer furniture that is manufactured from garbage and leftover oils and is biodegradable. IKEA receives these raw materials from Neste.
Growth in the other category is also projected due to the growing demand for bio-based polypropylene in medical applications. A bio-based polypropylene (PP) has been created by Mitsui Chemicals and can be utilised for a variety of products, including medical care items and automobile parts.
Global Bio-based Polypropylene Market By Application, 2021 (%)
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Bio-based Polypropylene Market Regional Insights
Europe dominated the bio-based polypropylene market, in terms of value, worth US $34.4 million in 2020. The market is expanding as a result of the rising demand for bio-based polypropylene in the automobile industry. Germany is a major manufacturer and consumer of autos, and the expansion of the automotive sector there is expected to drive up demand for bio-based polypropylene. This material will be utilised to make auto parts for bumpers, panels, and interior and external design.
North America accounts for a huge portion of the global bio-based polypropylene market. This market share can be attributed to the region's high level of technical development and disposable income. The building and construction sector's rising demand for bio-based PP for remodelling and new construction projects is driving market expansion.
Asia-Pacific is projected to have significant market expansion during the projected period. The market is expected to be driven by the rising demand for bio-based polypropylene from a variety of industries, including the automotive and building & construction sectors. A substantial demand for bio-PP based goods in home and institutional applications is being caused by the economic development in nations like China, India, and Japan, and this demand is projected to drive the bio-based polypropylene market throughout the forecast period. Additionally, the region's expanding population has increased demand for individual automobiles, driving up the price of this material.
Global Bio-based Polypropylene Market By Geography, 2021-2028
- Largest
- Fastest
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Bio-based Polypropylene Market Dynamics
Bio-based Polypropylene Market Driver
Growing demand from the packaging industry for bio-based polypropylene will support bio-based polypropylene market expansion.
- In the packaging sector, bio-based polypropylene is mostly used for goods like packaged food, packaged beverages, and sealed food. This polymer is used to create films that are used to cover objects during transportation. The usage of this material gives the products outstanding flexibility and durability while also shielding them from outside influences. As a result, the bio-based polypropylene market is significantly driven by the rising demand from the packaging sector.
- The rising consumption of this product is a result of growing environmental consciousness regarding the use of industrial waste and biomass for the production of plastic. For the commercialization of bio-PP, Mitsui Chemicals employed a novel production technique that involved the fermentation of different biomass, primarily non-edible plants, to generate isopropanol (IPA). Moreover, the adoption of bio-based alternatives is being pushed by the fluctuating costs of traditional plastic raw materials like crude oil.
Bio-based Polypropylene Market Restraint
Availability of substitute materials including polylactic acid and bio-based PET is projected to limit the market
- The bio-based polypropylene market is expected to be hindered in the coming years by the significant availability of substitute goods such polylactic acid and bio-based PET. These materials include bio-based PET, bio-based PHA, and bio-based PE. These materials are readily available at reduced prices, which acts as an obstacle in market expansion. Additionally, the market is being hampered due to the slow technological progress for bio-polypropylene compared to other non-biodegradable bio polymers. The absence of global regulations governing the uses of bio-based polypropylene is projected to hinder the market during the forecast period. Each nation has its own regulations governing the use of bio-based polypropylene. Businesses find it challenging to comply with these regional regulations, which discourages investment in the bio-based polypropylene market and is therefore expected to impede the market growth.
- The market for bio-based polypropylene is also constrained by the high cost of manufacture and distribution. It is projected that rising demand for sugarcane, soy, and corn from the food and beverage sector will have an impact on availability of raw materials and restrain market expansion.
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Bio-based Polypropylene Market Competitive Landscape
Key players operating in the bio-based polypropylene industry are Mitsui Chemicals, Inc., LyondellBasell Industries Holdings B.V., and Neste Oyj. Businesses are implementing methods like distribution improvement, new product creation, and collaboration to acquire a competitive edge in the global market. For instance, Neste manufactures a variety of renewable goods that help consumers lower their carbon footprints. The company is a significant producer of renewable diesel that is made from trash and by-products and has worked with numerous significant plastic manufacturers, including IKEA, Borealis, Braskem, and Henkel. These company’s receive refined trash & leftovers from Neste to help in the production of environmentally friendly goods.
Bio-based Polypropylene Market Top Players Company Profiles
- Braskem
- Dow Inc.
- Borealis AG
- LyondellBasell Industries Holdings B.V.
- Total S.A.
- Trellis Bioplastics
- BioAmber Inc.
- NatureWorks LLC
- Danimer Scientific
- Novamont S.p.A.
- FKuR Kunststoff GmbH
- Corbion N.V.
- Biobent Polymers
- GreenMantra Technologies
- Mitsui Chemicals, Inc.
- PolyOne Corporation
- Ravago Manufacturing Americas
- PlastiComp, Inc.
- Toray Industries, Inc.
- Toyota Tsusho Corporation
Bio-based Polypropylene Market Recent Development
- In June 2021, SABIC announced that Delica AG would be introducing a new range of more sustainable coffee capsules based on SABIC’s certified renewable polymers for use in its proprietary Delizio capsule machines.
- In June 2021, Neste, Mitsui Chemicals, and Toyota Tsusho collaborated to start Japan’s first production of renewable plastics, like polypropylene, from 100% bio-based hydrocarbon.
- In June 2021, LyondellBasell and Neste agreed on a long-term commercial relationship to make polymers and chemicals from renewable feedstock.
- In March 2020, Borealis started production of polypropylene based on Neste-produced renewable feedstock at the production facilities in Kallo and Beringen, Belgium. Borealis has replaced fossil fuel-based feedstock in large-scale commercial production of bio-based polypropylene.
Bio-based Polypropylene Key Market Trends
- Increasing Government Support - Bioplastic packaging has been promoted by governments all around the world in the context of numerous policies for innovation, resource efficiency, and climate change. Manufacturers have created bio-based products like bio-based propylene as a result of the increase in government support. To support a sustainable plastics industry, the EU encourages the use of bio-based, biodegradable, and compostable plastics. The Japanese government has supported businesses that provide paper-based alternatives to plastic and encouraged the creation of products manufactured from biodegradable bioplastics. Additionally, the US Department of Agriculture (USDA) is actively involved in and supports numerous initiatives aimed at promoting bioplastics through increased research, development, and buyer/consumer awareness. Through federal procurement as well as a certification and labelling initiative, the USDA's Bio Preferred Program seeks to increase the consumption and usage of bio-based goods. The bio-based polypropylene market will benefit from the increasing government backing for the use of bio-based polymers.
Bio-based Polypropylene Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, due to growing environmental concerns surrounding the usage of synthetic polypropylene, bio-based polypropylene has developed as a better substitute. The manufacturing and usage of polypropylene derived from fossil fuels are linked to health risks, which has increased demand for bio-based polypropylene. However, the market for bio-based polypropylene is still in its infancy and is expanding quickly. The end-users of polypropylene have been further encouraged to convert to bio-based propylene by the growing costs of petroleum-based chemicals as a result of fluctuating crude oil market. The market for bio-based chemicals is also benefiting from the decline in crude oil levels. Governments all throughout the world have supported producers of bio-based chemicals by giving them subsidies.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 38.99 million |
| Market size value in 2031 | USD 63.7 million |
| Growth Rate | 5.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Bio-based Polypropylene Market Recent Development
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bio-based Polypropylene Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bio-based Polypropylene Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bio-based Polypropylene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bio-based Polypropylene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bio-based Polypropylene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bio-based Polypropylene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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