Bio-based Polypropylene Market - Forecast(2024 - 2030)
Bio-Based Polypropylene Market Overview
Bio-Based Polypropylene Market
size is expected to be valued at US$69.4 million by the end of the year 2027 and is
set to grow at a CAGR of 7% during the forecast period from 2022-2027. The
increasing demand from the packaging industry is one of the major factors
driving the demand for bio-based polypropylene. Polypropylene is a polymer with
high melting point made with polylactic acid which makes it suitable for use in
medical products and other purposes like thermoplastic polymer that is used
to secure containers such as dishwashers, chemicals and others. Bio-based
propylene has similar features that of propylene, but is produced through injection
molding from raw materials such as sugarcane, beet and corn. Bio-based
polypropylene is also substituting the use of synthetic polypropylene in
bumpers, chemical tanks, gas cans and others in the automotive industry. This
is driving the demand of bio-based polypropylene market.
COVID-19 impact
Amid the Covid-19 pandemic, the bio-based
polypropylene market was hugely affected owing to the various legal and
economic restrictions laid by governments across the world. Due to the various
restrictions laid down during the pandemic across the globe, the bio-based
polypropylene market was hugely affected. Any movements including the movement of
people and goods were banned fearing the spread of the coronavirus. This
hugely impacted the bio-based polypropylene market, as the sales crashed down
due to the exponential decrease in demand. The situation is however set to
improve by the year ending 2021 and the bio-based polypropylene market is
expected to grow.
Report Coverage
The report: “Bio-Based Polypropylene Market – Forecast (2022-2027)”, by
IndustryARC, covers an in-depth analysis of the following segments of the Bio-Based
Polypropylene Industry.
Key Takeaways
- Asia-Pacific market held the
largest share in the bio-based polypropylene market owing to increase in demand
from the textile industry and construction industry.
- The growing packaging industry
is majorly driving the bio-based polypropylene market since bio-based
polypropylene is one of the commonly used thermoplastics used in plastic
packaging.
- The increase in demand from the
building and construction industry is also driving the demand for bio-based
polypropylene market.
- Amid the Covid-19 pandemic, the
bio-based polypropylene market was witnessed slow growth owing to the ongoing
covid-19 pandemic.
FIGURE: Bio-Based Polypropylene Market Share, 2021, By Product Type (%)
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Bio-Based Polypropylene Market Segment Analysis – By Product Type
Lignocellulosic Biomass segment held the largest share in the bio-based polypropylene market in the year 2021. Lignocellulosic are dry plant matters and that is abundantly available in the nature. It consists of carbohydrate polymers and an aromatic polymer, that gives it the strength that polymer posses. Lignocellulosic is one of the important resources used in bio-products, bioethanol, power and heat production processes. Lignocellulosic is a mixture of natural polymers based on cellulose, lignin, hemicellulose and tannins. This is majorly driving the demand for lignocellulosic biomass segment in the bio-based polypropylene market.
Bio-Based Polypropylene Market Segment Analysis – By Application
Textile segment held the largest
share of 30% in the bio-based polypropylene market in the year 2021. There has
been an increase in the demand and production of woolen fabric from various end
use industry, especially post Covid-19. This is contributing to the demand for bio-based
polypropylene market, as bio-based polypropylene is used as an ‘addition polymer’
in production of wool. According to American Sheep Industry Association,
Defense Logistics Agency (DLA), plans to procure 1.5 million linear yards of
wool and wool blend fabrics for use in recruit issue uniforms in the year 2021.
They are also planning on selling more than 40,000 wool berets during the year
2021. According to Korea Customs Services, the export of textile yarns
increased by 4% to US$130 thousands in June 2021 from US$125 thousands from May
2021. Bio based polypropylene is also used as a substitute to synthetic
polypropylene. This will further drive the bio-based polypropylene market.
Bio-Based Polypropylene Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of 40% in the bio-based polypropylene market in the year 2021. The major exporters of wool fabric in the world are from Asia Pacific region, namely China, South Korea and Japan. According to International Wool Textile Organization, China accounted for 21.1% of world exports of wool fabric in the year 2019, Japan accounted for 4.1% and South Korea accounted for 2.5%. This is making Asia Pacific region the largest exporter of wool fabric in the world. Furthermore, according to Directorate General of Commerce Intelligence and Statistics (DGCIS), exports of woolen yarn, fabrics and made ups reached US$125.13 million and raw wool exports reached US$71,111.74 in the year 2020, accounting for 2% of the global production. This is driving the demand for bio-based polypropylene market in the Asia Pacific region as it is widely used in the production of textile polymer. Furthermore, in the long-term development plan for automotive industry, the Chinese government set a goal for 2020, to reach and annual sales of 2 million for their new energy vehicles (NEV). This will also drive the demand for bio-based polypropylene in the automobile industry as bio-based polypropylene is used in bumpers, gas cans and chemical tanks in the automobile industry.
Bio-Based Polypropylene Market Drivers
The growing packaging industry is majorly driving the bio-based polypropylene market since bio-based polypropylene is one of the commonly used thermoplastics used in plastic packaging
Bio-based polypropylene is widely used in the packaging of consumer products, plastic parts, special devices, in textile industry and others as thermoplastic polymer. According to the data from World Packaging Organisation (WPO), a global organization and regulatory body of the packaging industry, the annual turnover of the global packaging industry crossed the value of US$500 billion during the year 2019, which served as an important factor driving the demand for bio-based polypropylene which in turn increased the growth of bio-based polypropylene market. This is driving the growth and demand for bio-based polypropylene market from the packaging sector across the globe.
Bio-Based Polypropylene Market Challenges
High initial cost for raw materials and set up
The initial cost for a set of raw material for
thermoplastic composites and thermoplastic polymer such as polypropylene is
more expensive than its close substitute thermosets, which makes it a costlier
product that is not preferred first. The cost of setting up tools is also
higher as it requires metal tooling for thermoplastic parts. Whereas aluminium
tools do not involve high costs and therefore it helps in reducing lead time
and save cost, which makes it a close and a preferred substitute for
thermoplastic components and thermoplastic polymer. This is one of the biggest
challenges faced by the bio-based polypropylene market.
Bio-Based Polypropylene Industry Outlook
Acquisitions and mergers, production expansion, facility
expansion collaborations, partnerships, investments, are some of the key
strategies adopted by players in the Bio-Based Polypropylene Market. Major players in the Bio-Based Polypropylene Market include:
- Global Bioenergies
- Washington Penn Plastic Co. Inc
- Dow
- Biobent Polymers
- LyondellBasell Industries Holdings
- Solvay S.A.
- FKuR Kunststoff GmbH
- Exxon Mobil Corporation
- Braskem
- INEOS
- Mitsui Chemicals
- SABIC
- China Petrochemical Corporation
Relevant Reports
Synthetic
And Bio-Based Polypropylene Market – Forecast (2021 - 2026)
Report Code: CMR 63005
Polypropylene
And Polypropylene Composites Market – Forecast (2021 - 2026)
Report Code: CMR 18842
For more Chemicals and Materials related reports, please click here
LIST OF TABLES
1.Global Electrostatic Precipitator Market:Application Estimate Trend Analysis Market 2023-2030 ($M)1.1 Application Market Market 2023-2030 ($M) - Global Industry Research
1.2 Chemical Market 2023-2030 ($M) - Global Industry Research
1.2.1 Electrostatic Precipitator Market Estimate Forecast In Chemical Application Market 2023-2030 ($M)
1.3 Metal Market 2023-2030 ($M) - Global Industry Research
1.3.1 Electrostatic Precipitator Market Estimate Forecast In Metal Industry Market 2023-2030 ($M)
1.4 Power Generation Market 2023-2030 ($M) - Global Industry Research
1.4.1 Electrostatic Precipitator Market Estimate Forecast In The Power Generation Industry Market 2023-2030 ($M)
1.5 Cement Market 2023-2030 ($M) - Global Industry Research
2.Global Bio-Based Polypropylene Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
2.1 Injection Market 2023-2030 ($M) - Global Industry Research
2.2 Textile Market 2023-2030 ($M) - Global Industry Research
2.3 Film Market 2023-2030 ($M) - Global Industry Research
3.Global Electrostatic Precipitator Market:Application Estimate Trend Analysis Market 2023-2030 (Volume/Units)
3.1 Application Market Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Chemical Market 2023-2030 (Volume/Units) - Global Industry Research
3.2.1 Electrostatic Precipitator Market Estimate Forecast In Chemical Application Market 2023-2030 (Volume/Units)
3.3 Metal Market 2023-2030 (Volume/Units) - Global Industry Research
3.3.1 Electrostatic Precipitator Market Estimate Forecast In Metal Industry Market 2023-2030 (Volume/Units)
3.4 Power Generation Market 2023-2030 (Volume/Units) - Global Industry Research
3.4.1 Electrostatic Precipitator Market Estimate Forecast In The Power Generation Industry Market 2023-2030 (Volume/Units)
3.5 Cement Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Bio-Based Polypropylene Market:Application Estimate Trend Analysis Market 2023-2030 (Volume/Units)
4.1 Injection Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Textile Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Film Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Electrostatic Precipitator Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
5.1 Application Market Market 2023-2030 ($M) - Regional Industry Research
5.2 Chemical Market 2023-2030 ($M) - Regional Industry Research
5.2.1 Electrostatic Precipitator Market Estimate Forecast In Chemical Application Market 2023-2030 ($M)
5.3 Metal Market 2023-2030 ($M) - Regional Industry Research
5.3.1 Electrostatic Precipitator Market Estimate Forecast In Metal Industry Market 2023-2030 ($M)
5.4 Power Generation Market 2023-2030 ($M) - Regional Industry Research
5.4.1 Electrostatic Precipitator Market Estimate Forecast In The Power Generation Industry Market 2023-2030 ($M)
5.5 Cement Market 2023-2030 ($M) - Regional Industry Research
6.North America Bio-Based Polypropylene Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
6.1 Injection Market 2023-2030 ($M) - Regional Industry Research
6.2 Textile Market 2023-2030 ($M) - Regional Industry Research
6.3 Film Market 2023-2030 ($M) - Regional Industry Research
7.South America Electrostatic Precipitator Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
7.1 Application Market Market 2023-2030 ($M) - Regional Industry Research
7.2 Chemical Market 2023-2030 ($M) - Regional Industry Research
7.2.1 Electrostatic Precipitator Market Estimate Forecast In Chemical Application Market 2023-2030 ($M)
7.3 Metal Market 2023-2030 ($M) - Regional Industry Research
7.3.1 Electrostatic Precipitator Market Estimate Forecast In Metal Industry Market 2023-2030 ($M)
7.4 Power Generation Market 2023-2030 ($M) - Regional Industry Research
7.4.1 Electrostatic Precipitator Market Estimate Forecast In The Power Generation Industry Market 2023-2030 ($M)
7.5 Cement Market 2023-2030 ($M) - Regional Industry Research
8.South America Bio-Based Polypropylene Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
8.1 Injection Market 2023-2030 ($M) - Regional Industry Research
8.2 Textile Market 2023-2030 ($M) - Regional Industry Research
8.3 Film Market 2023-2030 ($M) - Regional Industry Research
9.Europe Electrostatic Precipitator Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
9.1 Application Market Market 2023-2030 ($M) - Regional Industry Research
9.2 Chemical Market 2023-2030 ($M) - Regional Industry Research
9.2.1 Electrostatic Precipitator Market Estimate Forecast In Chemical Application Market 2023-2030 ($M)
9.3 Metal Market 2023-2030 ($M) - Regional Industry Research
9.3.1 Electrostatic Precipitator Market Estimate Forecast In Metal Industry Market 2023-2030 ($M)
9.4 Power Generation Market 2023-2030 ($M) - Regional Industry Research
9.4.1 Electrostatic Precipitator Market Estimate Forecast In The Power Generation Industry Market 2023-2030 ($M)
9.5 Cement Market 2023-2030 ($M) - Regional Industry Research
10.Europe Bio-Based Polypropylene Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
10.1 Injection Market 2023-2030 ($M) - Regional Industry Research
10.2 Textile Market 2023-2030 ($M) - Regional Industry Research
10.3 Film Market 2023-2030 ($M) - Regional Industry Research
11.APAC Electrostatic Precipitator Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
11.1 Application Market Market 2023-2030 ($M) - Regional Industry Research
11.2 Chemical Market 2023-2030 ($M) - Regional Industry Research
11.2.1 Electrostatic Precipitator Market Estimate Forecast In Chemical Application Market 2023-2030 ($M)
11.3 Metal Market 2023-2030 ($M) - Regional Industry Research
11.3.1 Electrostatic Precipitator Market Estimate Forecast In Metal Industry Market 2023-2030 ($M)
11.4 Power Generation Market 2023-2030 ($M) - Regional Industry Research
11.4.1 Electrostatic Precipitator Market Estimate Forecast In The Power Generation Industry Market 2023-2030 ($M)
11.5 Cement Market 2023-2030 ($M) - Regional Industry Research
12.APAC Bio-Based Polypropylene Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
12.1 Injection Market 2023-2030 ($M) - Regional Industry Research
12.2 Textile Market 2023-2030 ($M) - Regional Industry Research
12.3 Film Market 2023-2030 ($M) - Regional Industry Research
13.MENA Electrostatic Precipitator Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
13.1 Application Market Market 2023-2030 ($M) - Regional Industry Research
13.2 Chemical Market 2023-2030 ($M) - Regional Industry Research
13.2.1 Electrostatic Precipitator Market Estimate Forecast In Chemical Application Market 2023-2030 ($M)
13.3 Metal Market 2023-2030 ($M) - Regional Industry Research
13.3.1 Electrostatic Precipitator Market Estimate Forecast In Metal Industry Market 2023-2030 ($M)
13.4 Power Generation Market 2023-2030 ($M) - Regional Industry Research
13.4.1 Electrostatic Precipitator Market Estimate Forecast In The Power Generation Industry Market 2023-2030 ($M)
13.5 Cement Market 2023-2030 ($M) - Regional Industry Research
14.MENA Bio-Based Polypropylene Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
14.1 Injection Market 2023-2030 ($M) - Regional Industry Research
14.2 Textile Market 2023-2030 ($M) - Regional Industry Research
14.3 Film Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Bio-based Polypropylene Market Revenue, 2023-2030 ($M)2.Canada Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
3.Mexico Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
4.Brazil Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
5.Argentina Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
6.Peru Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
7.Colombia Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
8.Chile Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
9.Rest of South America Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
10.UK Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
11.Germany Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
12.France Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
13.Italy Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
14.Spain Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
15.Rest of Europe Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
16.China Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
17.India Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
18.Japan Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
19.South Korea Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
20.South Africa Bio-based Polypropylene Market Revenue, 2023-2030 ($M)
21.North America Bio-based Polypropylene By Application
22.South America Bio-based Polypropylene By Application
23.Europe Bio-based Polypropylene By Application
24.APAC Bio-based Polypropylene By Application
25.MENA Bio-based Polypropylene By Application
26.Bioenergies Sa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.The Dow Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Braskem S A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Trellis Earth Products, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Biobent Polymer, Sales /Revenue, 2015-2018 ($Mn/$Bn)