Global Bio Based Polypropylene Market Overview:
Global bio based bio based polypropylene market was nearly $32.0 million in 2017, and is predicted to surpass $53.0 million by the end of 2025, increasing at a CAGR over 6.5%.
The global bio based polypropylene market experiences a significant growth owing to the use of these polypropylenes in various applications, which include injection molding, textile, films, and others. Bio based polypropylene is a polymer obtained from vegetable oils, corn, and other biomass materials.
Strengthening the adoption of various polymers to improve the automobile downsizing, along with increasing impact to reduce carbon emissions are expected to drive the growth of the bio based polypropylene market during the forthcoming years. Favorable government norms to improve the usage of lighter materials in vehicle manufacturing is anticipated to boost the product demand in the coming years.
Different lightweight materials find applications in various sectors such as healthcare, renewable energy, and others. Increase in product demand from these sectors triggers product consumption, which is expected to drive the bio based polypropylene market during the forthcoming years. The product prices in this market are subjected to very low fluctuations, as they are naturally-derived, which could be an additional factor driving the market.
Favorable regulatory norms addressing various environmental concerns, which include minimization of the carbon emissions from automobiles drive the demand for bio based polypropylene. The U.S. and European governing bodies have initiated numerous regulations, to decrease the CO2 emissions and to enhance fuel efficiency, which further boost the growth of the bio based polypropylene market size during the forecast period.
Increase in impact of substitute products such as bio based PET and bio based PLA is expected to hinder the growth of the bio based polypropylene market. Increase in petroleum production enhances the process of manufacturing various crude oil derivatives, such as PET, PP, PLA, and others. This is expected to reduce the price of the end product, which in turn hinders the market growth.
Many key companies operating in the global bio based polypropylene market are planning to invest in R&D activities to develop bio based polypropylene from various other products and to improve the application potential to novel applications. This makes way for new growth opportunities for the global bio based polypropylene market.
Based on application, the bio based polypropylene market is segmented into injection, textile, films, and others, which include extrusion, blow molding, and coatings. The market size for injection application is expected to reach $19,328.4 thousand by 2025, increasing from $11,554.6 thousand in 2017. Injection molding helps to manufacture various formed parts for use in various end-use industries, such as automotive, construction, industrial, packaging, and others. Rise in demand for lightweight products to improve the vehicle downsizing in automobiles is anticipated to boost the product demand for injection applications.
Based on region, the bio based polypropylene market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America bio based polypropylene market is majorly led by the U.S. region, which contributed revenue of $6,409.5 thousand in 2017 and is further projected to reach $10,743.9 thousand by the end of 2025. Rise in need for low GHG emissions during production along with the stringent regulatory norms for manufacturing lightweight vehicles in countries such as the U.S. and Canada are the factors expected to boost the growth of the North America bio based polypropylene market during the forecast period.
Some of the key players in the global bio based polypropylene market include Global Bioenergies, Dow Chemicals, Braskem S.A., Trellis Earth Products, Inc., and Biobent Polymers.
Key Benefits for Global Bio Based Polypropylene Market:
The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global technical textile market from 2017 to 2025 to determine the prevailing opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
Profiles of leading players operating in the global technical textile market are provided to understand the global competitive scenario.
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
Global Bio Based Polypropylene Key Market Segments:
By Application
Injection
Textile
Films
Others (Extrusion, Blow Molding, and Coating)
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Global bio based bio based polypropylene market was nearly $32.0 million in 2017, and is predicted to surpass $53.0 million by the end of 2025, increasing at a CAGR over 6.5%.
The global bio based polypropylene market experiences a significant growth owing to the use of these polypropylenes in various applications, which include injection molding, textile, films, and others. Bio based polypropylene is a polymer obtained from vegetable oils, corn, and other biomass materials.
Strengthening the adoption of various polymers to improve the automobile downsizing, along with increasing impact to reduce carbon emissions are expected to drive the growth of the bio based polypropylene market during the forthcoming years. Favorable government norms to improve the usage of lighter materials in vehicle manufacturing is anticipated to boost the product demand in the coming years.
Different lightweight materials find applications in various sectors such as healthcare, renewable energy, and others. Increase in product demand from these sectors triggers product consumption, which is expected to drive the bio based polypropylene market during the forthcoming years. The product prices in this market are subjected to very low fluctuations, as they are naturally-derived, which could be an additional factor driving the market.
Favorable regulatory norms addressing various environmental concerns, which include minimization of the carbon emissions from automobiles drive the demand for bio based polypropylene. The U.S. and European governing bodies have initiated numerous regulations, to decrease the CO2 emissions and to enhance fuel efficiency, which further boost the growth of the bio based polypropylene market size during the forecast period.
Increase in impact of substitute products such as bio based PET and bio based PLA is expected to hinder the growth of the bio based polypropylene market. Increase in petroleum production enhances the process of manufacturing various crude oil derivatives, such as PET, PP, PLA, and others. This is expected to reduce the price of the end product, which in turn hinders the market growth.
Many key companies operating in the global bio based polypropylene market are planning to invest in R&D activities to develop bio based polypropylene from various other products and to improve the application potential to novel applications. This makes way for new growth opportunities for the global bio based polypropylene market.
Based on application, the bio based polypropylene market is segmented into injection, textile, films, and others, which include extrusion, blow molding, and coatings. The market size for injection application is expected to reach $19,328.4 thousand by 2025, increasing from $11,554.6 thousand in 2017. Injection molding helps to manufacture various formed parts for use in various end-use industries, such as automotive, construction, industrial, packaging, and others. Rise in demand for lightweight products to improve the vehicle downsizing in automobiles is anticipated to boost the product demand for injection applications.
Based on region, the bio based polypropylene market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America bio based polypropylene market is majorly led by the U.S. region, which contributed revenue of $6,409.5 thousand in 2017 and is further projected to reach $10,743.9 thousand by the end of 2025. Rise in need for low GHG emissions during production along with the stringent regulatory norms for manufacturing lightweight vehicles in countries such as the U.S. and Canada are the factors expected to boost the growth of the North America bio based polypropylene market during the forecast period.
Some of the key players in the global bio based polypropylene market include Global Bioenergies, Dow Chemicals, Braskem S.A., Trellis Earth Products, Inc., and Biobent Polymers.
Key Benefits for Global Bio Based Polypropylene Market:
The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global technical textile market from 2017 to 2025 to determine the prevailing opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
Profiles of leading players operating in the global technical textile market are provided to understand the global competitive scenario.
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
Global Bio Based Polypropylene Key Market Segments:
By Application
Injection
Textile
Films
Others (Extrusion, Blow Molding, and Coating)
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Table of Contents
CHAPTER 1: INTRODUCTION
Chapter 2: EXECUTIVE SUMMARY
Chapter 3: MARKET OVERVIEW
Chapter 4: GLOBAL BIO BASED POLYPROPYLENE MARKET, BY APPLICATION
Chapter 5: BIO BASED POLYPROPYLENE MARKET, BY REGION
Chapter 6: COMPANY PROFILES
List Of Tables
List of Figures
Executive Summary
According to this report titled, 'Bio Based Polypropylene Market, by Application: Global Opportunity Analysis and Industry Forecast, 2018-2025', the global bio based polypropylene market was valued at $32.0 million in 2017, and is projected to reach $53.0 million by 2025, growing at a CAGR of 6.5% from 2018 to 2025. The injection application segment accounted for a major share of the global bio based polypropylene market in 2017, in terms of revenue.According to the European Standard, EN 16575, polymers derived from biomass are considered as Bio Based Polymers. As the Bio based polypropylene is derived from vegetable oils, corn, and various biomass materials, this product can be considered as a Bio Based polymer.
The product demand is predicted to increase, owing to the increase in demand for lightweight plastic materials from the automotive end-use industry, to improve fuel efficiency in the automobiles. The use of these materials helps decrease the vehicle downsizing, which is expected to enhance the operating efficiency of the vehicles, and reduce the vehicular emissions. Favorable government regulations encouraging the use of lightweight polymer materials to reduce fuel consumption in automobiles increases the product demand, which drives the growth of the bio based polypropylene market during the forthcoming years.
Rise in use of substitute products such as the bio based PET and bio based PLA for similar applications is expected to restrain the growth of the global bio based polypropylene market. Increase in production of crude oil helps improve the generation of various crude oil derivatives, such as synthetic polymers, which act as a significant restraint to the growth of the global bio based polypropylene market.
Based on application, the bio based polypropylene market is segmented into injection, textile, films, and others which include extrusion, coating, and blow molding. The market for injection molding is projected to remain dominant during the forecast period. Increase in use of injection molded parts in various applications such as automotive, electronics, packaging, and construction is expected to fuel the product demand.
Key Findings of the Bio Based Polypropylene Market:
The North America bio based polypropylene market is projected to grow at a CAGR of nearly 6.9% during the forecast period, in terms of revenue
The Europe bio based polypropylene market is anticipated to dominate the global market, in terms of revenue in the near future
The global bio based polypropylene market for injection application dominated the market, with a share of over 36% in 2017
Based on region, the global bio based polypropylene market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Europe bio based polypropylene market is projected to reach $20,799.2 thousand by the end of 2025, owing to high product consumption from the automotive end-use industry. This region is majorly driven by the increase in product consumption in countries such as Germany, France, the UK, and Spain. Favorable initiatives and regulations by the European Union is expected to drive the use of various bioplastics over the coming years.
The global bio based polypropylene market is at a nascent stage. The companies operating in this market are highly concentrating on the procurement of raw materials to reduce production costs. Some key companies operating in the global bio based polypropylene market are Biobent Polymers, Dow Chemicals, Global Bioenergies, Braskem, and Trellis Earth.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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