Bio-Based Polypropylene Market (By Raw Material: Injection, Textile, Film, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global bio-based polypropylene market is anticipated to grow at a CAGR of around 6.8% during the forecast period 2020 to 2027 and to reach around US$ 6.0 Mn by 2027.

Market Dynamics

Increasing demand for bio-base polymers from the manufactures of various end use industries in order to lower the carbon footprints, coupled with stringent government regulation related to use of synthetic polymer are major factors expected to drive the growth of global market. In addition, high investment by major players for R&D activities and innovative product offerings are among other factors expected to further support the growth of target market.

Developing food & beverage industry, increasing number of manufactures in the US, coupled with high adoption of bio-based PP for various process such as coating, printing, and laminating is another major factor expected to support the growth of target market

Major players are focused on increasing the business presence to developing economies due to easy availability of raw material and low cost labor. They are focused in collaborative work in order strategic partnerships in order to increase the business presence and enhance the profit ratio  this is another important factor expected to augment the gro.wth of target market.

• In 2019, Borealis and Neste signed a strategic agreement for the production of renewable polypropylene (PP). This is expected to help the company to enhance the customer base and increase the profit ratio.
• In 2019, Mitsui Chemicals is undertaking a project in order to develop and deliver bio-polypropylene as an effort to achieve its sustainable development goals. This is expected to help the company to enhance its customer base.
• In 2019, LyondellBasel a largest plastics, chemicals and refining companies signed a collaborative contract with Neste in order to produce bio-based polypropylene and bio-based low-density polyethylene at a commercial scale.

However, factors such as high cost of operation and fluctuation in raw material supply are expected to hamper the growth of global bio-based polypropylene market. In addition, availability of other alternatives is another factor expected to further challenge the growth of target market.

Rapid technological advancements in cost-effective production techniques and high investment for R&D activities in order to deliver innovative products are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership and agreement activities for business development is another factor expected to revenue support the growth of target market.

Bio-Based Polypropylene Market Segment Analysis, 2019

The application segment of the global bio-based polypropylene market is further segmented into injection, textile, film, and others. The injection segment is expected to account for significant revenue share as compared to other segment in the global market. This is due to high preference of injection from various end use industries such as automotive, packaging, etc.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to high demand for bio-based polypropylene products from various end use industries. In addition, presence of large number of players operating in the country and innovative product offerings is another factor expected to further support the growth of target market.

Asia Pacific is expected to witness faster growth in the near future owing to high demand for bio-based polypropylene products from automotive manufacturers. In addition, player’s inclination towards emerging economies in order to increase the profit share is another major factor expected to further support the growth of target market.

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

The market research study on “Bio-Based Polypropylene Market (Application: Injection, Textile, Film, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global bio-based polypropylene market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global bio-based polypropylene market segment by application and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global bio-based polypropylene market size and segment markets by application and geography along with the information on companies operating in the market. The bio-based polypropylene market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Neste, FKuR Kunststoff GmbH, Novamont SpA, Sinopec Group, PTT Global, Braskem, SABIC, Biobent Polymers Global Bioenergies, Trellis Earth Products, Inc., and DowDuPont.

Market Segmentation

Market By Raw Material

Injection

Textile

Film

Others

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa