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).

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.