Product ID: SQMIG15E2352
Global Bio-based Polypropylene Market Size, Share, Growth Analysis, By Application(Injection, Textile), By End User(Automotive, Electronics) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2352 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|
Tables:
65 |
Figures:
79
Global Bio-based Polypropylene Market Dynamics
Bio-based Polypropylene Market Driver
Growing demand from the packaging industry for bio-based polypropylene will support bio-based polypropylene market expansion.
- In the packaging sector, bio-based polypropylene is mostly used for goods like packaged food, packaged beverages, and sealed food. This polymer is used to create films that are used to cover objects during transportation. The usage of this material gives the products outstanding flexibility and durability while also shielding them from outside influences. As a result, the bio-based polypropylene market is significantly driven by the rising demand from the packaging sector.
- The rising consumption of this product is a result of growing environmental consciousness regarding the use of industrial waste and biomass for the production of plastic. For the commercialization of bio-PP, Mitsui Chemicals employed a novel production technique that involved the fermentation of different biomass, primarily non-edible plants, to generate isopropanol (IPA). Moreover, the adoption of bio-based alternatives is being pushed by the fluctuating costs of traditional plastic raw materials like crude oil.
Bio-based Polypropylene Market Restraint
Availability of substitute materials including polylactic acid and bio-based PET is projected to limit the market
- The bio-based polypropylene market is expected to be hindered in the coming years by the significant availability of substitute goods such polylactic acid and bio-based PET. These materials include bio-based PET, bio-based PHA, and bio-based PE. These materials are readily available at reduced prices, which acts as an obstacle in market expansion. Additionally, the market is being hampered due to the slow technological progress for bio-polypropylene compared to other non-biodegradable bio polymers. The absence of global regulations governing the uses of bio-based polypropylene is projected to hinder the market during the forecast period. Each nation has its own regulations governing the use of bio-based polypropylene. Businesses find it challenging to comply with these regional regulations, which discourages investment in the bio-based polypropylene market and is therefore expected to impede the market growth.
- The market for bio-based polypropylene is also constrained by the high cost of manufacture and distribution. It is projected that rising demand for sugarcane, soy, and corn from the food and beverage sector will have an impact on availability of raw materials and restrain market expansion.
Global Bio-based Polypropylene Market Report Snapshots
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