Biobased Polypropylene Market Analysis | 2023-2028

“The Biobased Polypropylene (PP) Market is expected to grow from USD 39.42 million in 2022 to USD 53.21 million by 2028 at a CAGR of 5.10% during the forecast period”.

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Market Dynamics

Introduction

Biobased polypropylene (PP) is a thermoplastic polymer derived from renewable biological resources, such as plants, agricultural residues, or waste biomass. It shares similar properties with traditional petroleum-based polypropylene but distinguishes itself by its eco-friendly origin. The production of biobased PP involves converting biomass into monomers, which are then polymerized to form the final product.

This sustainable alternative aims to reduce dependency on fossil fuels, decrease carbon emissions, and promote environmental conservation. Biobased PP exhibits comparable performance characteristics to its conventional counterpart, making it a promising solution in the quest for a more sustainable and environmentally responsible material.

Market Drivers

The market for biobased Polypropylene (PP) will be driven by the significant trend toward the adoption of polymers to reduce overall automobile weight and carbon emissions. The demand for the product will increase as a result of government regulations requiring lighter materials to be used in vehicles, which reduces fuel consumption. Lightweight materials are used in wind turbines, pressure vehicles, alternative energy sources, and medical technology. Contrary to the crude oil index, which could spur industry expansion, the price trend for biobased PP is subject to minimal swings.

The market for biobased polypropylene will grow as a result of favorable regulations aimed at reducing carbon emissions. Numerous laws and regulations from the U.S. and European governments regarding reducing carbon dioxide emissions and improving fuel efficiency are likely to give the biobased PP market the much-needed boost. 

Segments Analysis

By Application Type

“The injection application type is expected to see increased demand during the forecast period”.

The market is segmented into textile, injection, and films. It aids in the production of injection-molded components for use in electrical, automotive, industrial, and packaging applications. Increased usage of lightweight materials in the automotive industry would increase the product demand for injection applications.

Additionally, the automobile sector is expanding in countries, such as Malaysia, China, Brazil, Mexico, and Thailand, all of which benefit the market size for biobased polypropylene. 

Regional Analysis

“Asia-Pacific is expected to remain the largest market for during the forecast period”.

The market is broken down geographically into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Regarding regions, Asia-Pacific is expected to remain the largest market for biobased polypropylene (PP) during the forecast period.

This is because this region's bio-based polypropylene (PP) market is experiencing increasing demand. The Asia-Pacific region dominates the bio-based polypropylene (PP) market, with China holding the top spot due to the availability of synthetic PP products. North America and Europe are also expected to offer sizeable growth opportunities in the coming years.

Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.

The following are the key players in the Biobased Polypropylene (PP) Market (arranged alphabetically)

• Biobent Polymers
• Borealis AG
• Braskem S.A.
• Dow Chemicals
• Exxon Mobil Corporation
• Solvay
• Trellis Earth Products, Inc.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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