Press release
Bio-Based Polypropylene Market Size by Global Major Companies Profile, and Key Regions 2028
Bio-Based Polypropylene Market
Growing Concerns over Plastic Pollution to Create Huge Demand for Bio-based Polymers
The waste generated by synthetic polymers across the globe has become a critical environmental issue today. While governments are taking stringent measures, plastic pollution continues unimpeded. A 2019 research study by the University of Barcelona found that polypropylene, polystyrene, and polyethylene are the most abundant microplastics floating around in the Mediterranean coasts.
Further, Greenpeace states that globally only 9% of plastic gets recycled. The ecological hazards caused by plastics have heightened the need to find alternatives and it is in this context that bio-based PP has gained significance. Biodegradable PP is made from natural sources such as corn, sugarcane, and other renewable biomass. As a result, they generate minimal waste and can be reused and recycled, making them the perfect substitute for synthetically formulated plastics.
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List of the Leading Companies Profiled in the Global Bio-Based Polypropylene Market are:
Braskem (U.S.)
Neste Oyj (Finland)
LyondellBasell Industries Holdings B.V. (The Netherlands)
Borealis AG (Austria)
NaturePlast (France)
Mitsui Chemicals, Inc. (Japan)
Highlights of the Report
The bio-based PP market report contains actionable insights into the factors and trends shaping the growth trajectory of the market. The report also incorporates a comprehensive analysis of the market restraints and an in-depth evaluation of all market segments. Additionally, the report covers a detailed study of the regional dynamics and competitive environment characterizing the market.
Driving Factor
Active Collaborations between Market Players to Drive Growth
The growing urgency for polymers derived from organic sources is pushing companies in this market to collaborate with different entities to speed up and enhance the development of bio-based polypropylene and other such polymers. In 2018, for instance, Neste joined forces with Ikea to initiate the production of bio-based PP on a commercial scale. The aim behind this venture is to aid Ikea fully substitute the plastics used in its products with renewable materials by 2030.
Neste also partnered with LyondellBasell in June 2019 to pilot the first-ever commercial-scale simultaneous production of bio-PP and bio-polyethylene in Germany. The leading role played by these organizations in advancing biodegradable polymer production technologies is supporting the establishment of a circular plastic economy, which also favors this market.
Regional Insights
Germany's Strong Auto Industry to Bolster the Europe Market Growth
Europe is expected to dominate the bio-based polypropylene market share during the forecast period on account of Germany's large, strong, and well-consolidated automotive industry. Automakers in this country have been steadily incorporating naturally derived raw materials in vehicle interiors, such as dashboards and door handles, to accelerate sustainable development in the continent. The region's market size stood at USD 34.4 million in 2020.
In North America, the market will be principally driven by the increasing deployment of bio-based PP in the building and construction industry. On the other hand, the market in Asia Pacific is set to experience dynamic expansion due to the widening utilization of bio-PP in household and industrial applications in the region.
Market Segmentation
Based on application, the market has been categorized into building & construction, consumer goods, packaging, and others. In 2020, the automotive segment held a share of 12.24% in the global market and a share of 11.83% in the Germany market.
On the basis of region, the market has been analyzed across North America, Europe, Asia Pacific, and the Rest of the World.
Competitive Landscape
Capacity Enhancement by Key Players to Animate Competitive Spirits
One of the most visible growth strategies adopted by key players in this market is the expansion of production capacity. An enhanced capacity to produce bio-based polypropylene will empower companies to rapidly broaden their sales opportunities, especially in North America and Europe, where manufacturers are eagerly demanding sustainable materials to reduce their carbon footprints.
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Detailed Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends - For Major Countries
Key Developments: Mergers, Acquisition, Partnership, etc.
Latest Technological Advancement
Insights on Regulatory Scenario
Porters Five Forces Analysis
Qualitative Insights - Impact of COVID-19 on Global Bio-Based Polypropylene Market
Supply Chain Challenges
Steps taken by Government/Companies to overcome this impact
Potential opportunities due to COVID-19 outbreak
Global Bio-Based Polypropylene Market Analysis, Insights and Forecast, By Application, 2017-2028
Key Findings / Summary
Market Size Estimates and Forecast
By Application (Volume/Value)
Building & Construction
Automotive
Consumer Goods
Packging
Others
Global Bio-Based Polypropylene Market Analysis, Insights and Forecast, By Region, 2017-2028
Key Findings / Summary
Market Size Estimates and Forecast
By Region (Volume/Value)
North America
Europe
Asia Pacific
Rest of the World
TOC Continued…!
Industry Development
March 2020: Borealis announced the commencement of polypropylene production from Neste's renewable feedstock at its two facilities in Belgium. This will mark Borealis' first departure from producing fossil fuel-based PP on a large, commercial scale.
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