Global Bio Polypropylene Market Size To Worth USD 42.20 Billion By 2033 | CAGR of 12.67%
Category: Chemicals & MaterialsGlobal Bio Polypropylene Market Size To Worth USD 42.20 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Bio Polypropylene Market Size is Expected to Grow from USD 12.80 Billion in 2023 to USD 42.20 Billion by 2033, at a CAGR of 12.67% during the forecast period 2023-2033.
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Browse key industry insights spread across 240 pages with 124 Market data tables and figures & charts from the report on the "Global Bio Polypropylene Market Size, Share, and COVID-19 Impact Analysis, By Production Process (Melt Mass Polymerization (MMP), Solution Polymerization, and Gas Phase Polymerization), By Extrusion Type (Sheet Extrusion, Film Extrusion, and Pipe Extrusion), By Application (Building & Construction, Automotive, Consumer Goods, Packaging, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/bio-polypropylene-market
The bio polypropylene market is the industry for plastic derived from renewable resources including corn, sugarcane, and soyabeans. Bio polypropylene (Bio-PP) is a type of plastic polymer, that serves as a sustainable alternative to traditional polypropylene made from fossil fuels and has similar properties to regular polypropylene. The demand for sustainable packaging is significantly rising as consumers and industries are seeking eco-friendly alternatives to traditional plastics which leads to the substantial rise in the use of bio-based polypropylene in packaging applications, thereby escalating the lucrative market growth opportunities. The growing consumer inclination towards sustainable and eco-friendly products in the consumer goods sector is propelling the market. On the contrary, the competition from alternative bioplastics and the slower development of production technologies are challenging the market growth.
The melt mass polymerization (MMP) segment dominated the market with the largest market share in 2023 and is anticipated to witness significant CAGR growth during the projected timeframe.
Based on the production process, the bio polypropylene market is classified into melt mass polymerization (MMP), solution polymerization, and gas phase polymerization. Among these, the melt mass polymerization (MMP) segment dominated the market with the largest market share in 2023 and is anticipated to witness significant CAGR growth during the projected timeframe. By heating the propylene monomer to a molten state and then starting the polymerization process within that molten phase, the technique converts propylene monomers into polypropylene. The growing need for bio-based polymers from a variety of industries, including consumer goods, packaging, and the automotive sector is driving the market.
The sheet extrusion segment held the largest share of the global bio polypropylene market in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the extrusion type, the bio polypropylene market is classified into sheet extrusion, film extrusion, and pipe extrusion. Among these, the sheet extrusion segment held the largest share of the global bio polypropylene market in 2023 and is expected to grow at a significant CAGR during the forecast period. Bio polypropylene sheet extrusion is the process of using an extrusion machine to create a continuous plastic sheet, which is basically a flat film. The growing need for bio-based packaging solutions in the consumer goods, healthcare, and food & beverage industries is driving the market.
The packaging segment accounted for the majority of market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the application, the bio polypropylene market is classified into building & construction, automotive, consumer goods, packaging, and others. Among these, the packaging segment accounted for the majority of market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Because it is lightweight, durable, and made from renewable resources, bio polypropylene is mostly utilized in packaging applications such as food containers, films, caps, and flexible packaging. The rising awareness about the utilization of industrial waste and biomass in the production of plastic is driving the market expansion.
Europe is estimated to hold the largest share of the bio polypropylene market over the forecast period.
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Europe is estimated to hold the largest share of the bio polypropylene market over the forecast period. The European Commission’s implementation of a number of regulations that encourage the use of bio-based polymers in a variety of applications, due to high biomass content and low greenhouse gas emissions during manufacturing, is driving the regional market growth. The increasing need for bio-PP in the automotive industry is propelling the bio polypropylene market in the region.
Asia Pacific is predicted to grow at the fastest CAGR in the bio polypropylene market over the forecast period. The high demand for sustainable and eco-friendly materials, technological advancements in bio-polymerization, and increasing environmental awareness are the factors propelling the bio polypropylene market. The increasing polypropylene demand from automotive and building & construction sectors is driving the market for bio polypropylene.
Major key players in the global bio polypropylene market include Borealis, LyondellBasell Industries, Mitsubishi Chemical, Braskem, Sabic, TotalEnergies, Versalis, Reliance Industries, Indorama Ventures, Formosa Plastics, Sinopec, Kuraray, Covestro, Lotte Chemical, Showa Denko, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In September 2024, Citroniq, a Houston-based company specializing in carbon-negative materials, announced the successful completion of a $12 million Series A funding round. This investment round was notably supported by Lummus Technology, a key partner that previously revealed plans to construct four bio-based polypropylene (PP) plants in the United States in collaboration with Citriniq.
- In September 2024, Braskem, the largest polyolefins producer in the Americas, as well as a global market leader and pioneer producer of biopolymers on an industrial scale, announced the launch of its innovative bio-circular polypropylene (PP), which it sells under the brand name WENEW.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the bio polypropylene market based on the below-mentioned segments:
Global Bio Polypropylene Market, By Production Process
- Melt Mass Polymerization (MMP)
- Solution Polymerization
- Gas Phase Polymerization
Global Bio Polypropylene Market, By Extrusion Type
- Sheet Extrusion
- Film Extrusion
- Pipe Extrusion
Global Bio Polypropylene Market, By Application
- Building & Construction
- Automotive
- Consumer Goods
- Packaging
- Others
Global Bio Polypropylene Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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