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

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).

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 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. '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', '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.'

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.

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.

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.