Bio-based Polypropylene Market to Surpass 63.7 Million by 2030 Drives Due to Escalating Demand for Lightweight Automotive Materials
SkyQuest projects that the bio-based polypropylene market will attain a value of USD 63.7 million by 2030, with a CAGR of 5.6% over the forecast period (2023-2030). Bio-based polypropylene is a polymer compound derived from plant sources, possessing a harmonious blend of properties akin to standard polypropylene. Crafted from materials such as corn, vegetable oils, and sugarcane, this polymer material is a testament to sustainable innovation in the bio-based polypropylene market.
Westford USA, Aug. 28, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the increasing consumption of this product can be attributed to the escalating environmental awareness surrounding the utilization of industrial waste and biomass in plastic production. This shift towards more sustainable practices has significantly influenced consumer preferences, driving the demand for products that are derived from eco-friendly sources in the bio-based polypropylene market.
Browse in-depth TOC on the “Bio-based Polypropylene Market”
- Pages – 165
- Tables – 65
- Figures – 75
The forthcoming years are poised to witness a surge in bio-based polypropylene market growth attributed to the escalating demand for lightweight automotive materials, with a particular emphasis on polymers. This shift is poised to revolutionize the automotive industry as manufacturers increasingly prioritize eco-friendly materials.
Prominent Players in Bio-based Polypropylene Market
- Braskem
- Dow Inc.
- Borealis AG
- LyondellBasell Industries Holdings B.V.
- Total S.A.
- Trellis Bioplastics
- BioAmber Inc.
- NatureWorks LLC
- Danimer Scientific
- Novamont S.p.A.
- FKuR Kunststoff GmbH
- Corbion N.V.
- Biobent Polymers
- GreenMantra Technologies
- Mitsui Chemicals, Inc.
- PolyOne Corporation
- Ravago Manufacturing Americas
- PlastiComp, Inc.
- Toray Industries, Inc.
- Toyota Tsusho Corporation
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Packaging Segment is Expected to Grow the Market Due to Rising Demand Originating from Diverse Industries
Packaging has emerged as a dominant force within the bio-based polypropylene market, primarily fueled by substantial demand from diverse industries, including food & beverage, automotive, and consumer products. The versatile applications of bio-based polypropylene in packaging solutions, driven by its sustainable and environmentally friendly attributes, have propelled its ascendancy in this sector.
The market in North America holds a substantial share within the global bio-based polypropylene market, with its prominence owing to multiple factors. Remarkably, the region boasts a high degree of technical advancement and disposable income, collectively contributing to its commanding market presence.
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Consumer Goods Segment is Expected to Dominate the Market Due to the Swift Integration of Bio-based Polypropylene
Consumer goods category is poised to exhibit the most robust growth trajectory in the bio-based polypropylene market, primarily propelled by the swift integration of bio-based polypropylene within domestic applications. This burgeoning adoption is particularly evident in home-oriented usages such as tables and chairs, tablecloths, covers, kitchenware, and bottles.
Regional markets in the Asia-Pacific are poised for substantial bio-based polypropylene market expansion within the bio-based polypropylene sector. Several vital factors underpin this growth trajectory. Remarkably, the region is expected to experience a surge in demand for bio-based polypropylene from a diverse range of industries, most notably the automotive and building & construction sectors.
A comprehensive analysis of the major players in the bio-based polypropylene market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Bio-based Polypropylene Market
- SABIC recently made a significant announcement regarding a collaborative initiative with Delica AG. The outcome of this partnership was the introduction an innovative series of environmentally sustainable coffee capsules. These capsules, designed for use in Delicia’s proprietary capsule machines, are fashioned from SABIC’s certified renewable polymers. This development underscores a concerted effort to align with more eco-friendly practices, ensuring that convenience and sustainability coexist harmoniously within consumer products.
- In 2021 it marked a noteworthy collaborative effort involving Neste, Mitsui Chemicals, and Toyota Tsusho in Japan. This coalition achieved a pioneering milestone by initiating the nation’s inaugural production of renewable plastics, specifically polypropylene. Distinguished by its composition of 100% bio-based hydrocarbons, this venture reflects a strategic drive towards enhancing the sustainability quotient of plastics production.
Key Questions Answered in Bio-based Polypropylene Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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