Global Bio-Based Polypropylene Market Growth Analysis: CAGR of 4.8% during the Forecast by 2031

Global Industry Analysis

The Bio Based Polypropylene Market is a rapidly growing sector of the chemicals and materials industry. Bio-based polypropylene (PP) is a type of thermoplastic polymer derived from renewable materials, such as vegetable oils, sugar cane and corn starch, rather than petroleum-based sources.

Market Size and Forecast:

The global bio-based polypropylene market was valued at USD 28.8 million in 2015 and is expected to grow at a CAGR of 4.8% from 2015 to 2023, reaching USD 39.8 million by the end of 2023.

A thermoplastic polymer with a melting point of roughly 165°C is polypropylene (PP). Polypropylene is suitable for use in some plastic products, including medical supplies and dishwasher-safe containers, due to its higher melting point. Bio-based polypropylene is made from bio-based raw materials such corn, sugarcane, and beet, and it shares many of the same properties as synthetic polypropylene.

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Many different businesses, including those that deal with autos, textiles, packaging, medical devices, and pipe systems, use bio-based propylene. Polypropylene is also used in plastic living hinges, like those on flip-top bottles, because of its excellent fatigue properties.

The market for bio-based polypropylene is primarily driven by rising demand for lightweight materials across a variety of industrial sectors and a favourable regulatory and political climate. The bio-based polypropylene market may be divided into four main groups depending on application: injection, textile, films, and others. In 2013, the market for bio-based polypropylene was dominated by the injection application segment with a market share of more than 50%.

Injection molding is use in several industries such as automotive, medical, aerospace, consumer products, toys, construction, packaging, and plumbing. The textile industry in developing countries has been growing at over 6% annually; thereby laying the foundation of growth opportunities for bio based polypropylene market.

Bio based polypropylene can be stretched and extruded to form biaxially oriented polypropylene films which are used as a sustainable packaging material for industries such as snack foods, confectionaries, and fresh vegetables.

Bio based polypropylene has emerged as a substitute to synthetic polypropylene due to increasing environmental concerns regarding the use of latter. The health hazards associated with the production and use of polypropylene derived from fossil fuels have led to boost in the demand for bio based polypropylene. However, the bio based polypropylene market is currently in the nascent stage and is growing at a significant pace.

The rising prices of petroleum-based chemicals due to a volatile crude oil market have been further encouraging the polypropylene end-users to switch to bio based propylene.

The depleting crude oil levels are also opening up opportunities for bio-based chemicals market. The governments across the globe have been encouraging the bio based chemical manufacturers by providing them subsidies. The cost effectiveness of bio propylene is another important driver for its growth.

Bio based polypropylene are obtained from bio based propylene, which is manufactured from several bio sources such as corn, biomass, and vegetable oil. The two key methods of propylene production include fermentation and gasification.

Bio based polypropylene manufactured from the ethanol derived from sugarcane is expected to witness strong growth in the market due to its high acceptability. Europe dominated the global bio based polypropylene market in 2013, followed by North America and Asia Pacific.

The demand for polypropylene has been growing at a considerable pace in the packaging industry in China. Trellis Earth Products, Inc. is the largest bio based polypropylene company globally.

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This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

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