Bio-based Polypropylene Market Size, Share & Trends Analysis Report By Application (Injection, Textile, Films), By Region, And Segment Forecasts, 2024 - 2030

Bio-based Polypropylene Market Size, Share & Trends Analysis Report By Application (Injection, Textile, Films), By Region, And Segment Forecasts, 2024 - 2030

Bio-based Polypropylene Market Growth & Trends

The global bio-based polypropylene market size is expected to reach USD 391.6 million by 2030 at a CAGR of 18.2%, according to a new report by Grand View Research, Inc. Rise in demand for bio-based polypropylene can be attributed to focus on sustainable plastics in the food and beverage industry.

Bio-based polypropylene is anticipated to register higher penetration in the automotive industry due to heightening need to reduce overall weight of automobiles. Multiple political and government initiatives are being undertaken for the reduction of greenhouse gas (GHG) emissions and carbon footprint. In addition, major automobile manufacturers are focused on deploying materials that increase fuel efficiency of automobiles, which is expected to drive market growth over the forecast period.

This industry benefits from the presence of several regulations promoting the use of low-weight materials across applications. In addition, the adoption of international concords including the Kyoto and Montreal protocols will propel the use of bio-based polymers for various applications. However, dwindling raw material availability is expected to pose a major threat to industry growth over the coming years.

Bio-based Polypropylene Market Report Highlights

• By application, The injection molding segment accounted for the largest revenue share of 53.4% in 2023 in terms of revenue. This can be attributed to increased usage in the production of components in automotive, building and construction, and electrical and electronics industries
• The Europe bio-based polypropylene market accounted for a revenue share of 44.1% in 2023. This is majorly due to usage in various application industries supported by regulatory agencies such as the European Commission
• Key players in the bio-based polypropylene market use several patented production techniques and constantly strive for discovery of new products. As a result, R&D investments are high in this industry.

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