Global Bio-based Polypropylene (PP) Market Size Set to Touch USD 118.78 Million by 2029

Published | 20 July 2023

The global bio-based polypropylene (PP) market is gaining traction because of the growing demand for sustainable materials and favorable government regulations and policies.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global bio-based polypropylene (PP) market size at USD 76.74 million in 2022. During the forecast period between 2023 and 2029, the global bio-based polypropylene (PP) market size is projected to grow at an impressive CAGR of 6.55% reaching a value of USD 118.78 million by 2029. A rise in the need for lightweight automotive materials, particularly polymers, as well as a greater emphasis on reducing vehicle carbon emissions as a result of stringent laws in some regions, such as Europe, are major growth factors for the global bio-based polypropylene (PP) market.

Global Bio-based Polypropylene (PP) Market – Overview

Bio-based Polypropylene (PP), commonly referred to as renewable polyethylene, is a type of polyethylene generated from ethanol, which is converted to ethylene through the process of dehydration. It can be produced using a variety of feedstocks, such as wheat grain, sugar beet, and cane. Bio-based polypropylene has characteristics that are comparable to those of synthetic polypropylene. Almost all polar solvents—acids, alkalis, water, and alcohol—are resistant to polypropylene. It can be treated over a wide temperature range and has strong temperature resistance. The primary applications for this polymer include textiles, films, injection molding, and other uses.

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Global Bio-based Polypropylene (PP) Market – By End User

Based on end user, the global bio-based polypropylene (PP) market is segmented into automotive, packaging, consumer goods, building & construction, and others. The packaging segment accounts for the largest market share. Polypropylene is typically used for polypropylene boxes, flat bags, gusseted bags, strapping tape, and poly strapping. Microwaveable packaging works well with polypropylene because of its great temperature tolerance. The automotive sector is also increasingly adopting the use of bio-based polypropylene, mainly for the production of consoles, dashboards, car bumpers, air ducts, and other parts.

Impact of COVID-19 on Global Bio-based Polypropylene (PP) Market

The COVID-19 pandemic slowed down the expansion of the global bio-based polypropylene (PP) market. Supply chains across industries were disrupted, impacting manufacturing operations globally, as governments of many nations enforced lockdowns and stringent social distance restrictions as well as limiting cross-border trade activities. Particularly the automobile and construction industries witnessed a halt in operations, with some auto manufacturers being forced to close and construction projects being postponed or abandoned. As a result, the market suffered significant losses as demand for bio-based polypropylene (PP) decreased.

Competitive Landscape

Major players operating in the global bio-based polypropylene (PP) market include Borealis AG, Braskem, Mitsui Chemicals, Inc., Novamont SpA, LyondellBasell Industries Holdings B.V., NaturePlast, Neste, Global Bioenergies, Trellis Earth Products, Inc., Biobent Management Services, Inc., Dow, and Washington Penn. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Bio-based Polypropylene (PP) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Bio-based Polypropylene (PP) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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