The GlobalBio-based Polypropylene (PP) marketis forecast to reach USD 63.1 Million by 2027, according to a new report by Reports and Data. The increasing cost of petroleum-based chemicals because of the fluctuating price of crude oil and growing demand for the availability of alternatives of these chemicals among end-users is paving the path for the expansion of the sector. Continuous development in biotechnology and chemical processing is also contributing to this growth of the industry that is enabling the manufacturing of novel bio-based polymers like polyhydroxyalkanoate and polylactic acid, which is witnessing increasing popularity in various industries. Thus, such technological development would contribute to the expansion of the sector. In recent years, there has been an increasing concern about the environmental impact of using synthetic polypropylene and growing demand for polypropylene from the automotive and construction sector, which are the primary boosting factors for the growth of the market.
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Further key findings from the report suggest
- The Corn segment held a significant market share of more than 40.0% in 2019. The market share held by the Corn segment is attributed to the high water resistance of corn starch as compared to other types of starch, abundant availability of this source, and low cost that results in its high preference among end-users contributing to the market share held by this segment.
- In the context of Application, the Industrial applications segment is projected to witness a considerable growth rate of 8.1% during the forecast period. The continuous expansion of various industries like the e-commerce sector and the associated increasing demand for industrial packaging contributes to the growth rate witnessed by this segment. The increasing demand for industrial packaging paves the path for application of this type of polypropylene in polymeric films for various applications for sustainable packaging.
- In context to End-user, the Automotive segment held a considerable share of the market of more than 30.0% in 2019. The market share held by the Automotive segment is attributed to the fact that there is a growing demand for polypropylene in this sector and in this regards, an increasing number of market players are taking initiatives to minimize the use of synthetic polymers considering its adverse impact on the environment, which contributes to the market share held by this segment.
- Key participants include The Dow Chemical Company, Global Bioenergies SA, Trellis Earth Products, Inc., Braskem S.A., Mitsubishi Chemical Holdings Corporation, LyondellBasell Industries Holdings B.V., DowDuPont, Exxon Mobil, Biobent Polymers and Neste.
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Source Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Corn
- Sugarcane
- Beet
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Injection
- Textile
- Films
- Others
End-user Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Automotive
- Electronics
- Construction
- Industrial applications
- Others
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Significant Features that are under Offering and Key Highlights of the Reports:
Detailed overview of the Bio-Based Polypropylene (PP) Market
Changes in industry market dynamics
Detailed market segmentation by type, application, etc.
Historical, current and projected market size in terms of quantity and value
Recent industry trends and developments
Competition situation of Bio-Based Polypropylene (PP) Market
Key companies and product strategies
Potential niche segment/region showing promising growth.
Finally, the Bio-Based Polypropylene (PP) Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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