Bio-based Polypropylene Market - Forecasts from 2024 to 2029

Bio-based Polypropylene Market - Forecasts from 2024 to 2029

The Bio-Based Polypropylene Market is expected to register a compound annual growth rate (CAGR) of 7.68% during the forecast period (2024-2029).

The bio-based polypropylene market is expected to grow significantly owing to the increasing consumer preference for eco-friendly products, which are playing an efficient role in driving the growth and demand for bio-polypropylene in multiple industries, mainly the packaging industry, the automotive industry, textile, and consumer goods. Bio-polypropylene offers versatility and suitability for use in various applications, coupled with its eco-friendly solutions, further accelerating market growth. Certain factors are driving the market growth.
One of the imperative key drivers of the bio-based polypropylene market is the growing preference for eco-friendly materials that are imperative and necessary in preserving the environment. Governments, as well as consumers, are becoming aware of the need for sustainable solutions, which is resulting in a rise in demand for compostable and biodegradable plastics. Not only this, but many countries have also implemented regulations limiting the use of non-degradable polymers, further fueling market growth.

The growing consumer awareness in developing and developed nations is another factor that is driving the market growth. As people are becoming more environmentally conscious about the harmful impacts of plastic waste, they are imperatively seeking other alternatives that are resulting in less harm to the planet. This is causing a shift in consumer behavior, which, in turn, is pushing manufacturers to invest in bio-based polymer technologies and incorporate them into their products.

BIO-BASED POLYPROPYLENE MARKET DRIVERS:

Injection segment by application is likely to be the fastest-growing type during the forecast period

In the coming years, the injection molding segment is anticipated to be the fastest-growing segment owing to the increasing usage of injection-molded bio-based polypropylene products. These are efficiently used for the production of various automotive exterior and interior components. In the automotive sector, as the demand for lightweight automotive materials increases, so does the need for sustainable solutions, which ultimately drives the demand for the injection segment. Additionally, the injection molding process allows for the production of complex shapes and designs, which is particularly useful in the automotive industry, where aesthetics and functionality are critical.
The growing application of bio-based polypropylene in the packaging industry

On the other hand, the packaging industry has also been a major growth driver, as consumers increasingly demand biodegradable packaging materials due to environmental concerns and government regulations. The use of bio-based polypropylene in packaging applications, such as wrapping organic food and premium and branded products with particular requirements, is rising steadily. Additionally, the food packaging industry is another industry that accounts for about 50% of the global biodegradable plastic market, which also acts as a growth driver for the bio-based polypropylene market. Bio-based polypropylene offers a sustainable alternative to traditional synthetic polypropylene, with excellent flexibility and sturdiness, making it suitable for covering products during transportation.

BIO-BASED POLYPROPYLENE MARKET GEOGRAPHICAL Outlook

The Asia Pacific region will dominate the bio-based polypropylene market during the forecast period.

The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries. India and China have about 35.5% of the world's population. The Asia Pacific region is expected to dominate the bio-based polypropylene market during the forecast period owing to the region being the home of several countries, as mentioned above, constituting significant production capacities that drive the demand for eco-friendly materials. For instance, China is regarded as the largest consumer of bio-based polymer products in the APAC region owing to the country’s increasing population, which drives the demand for sustainable materials. Not only this, but the government of China has also actively been promoting the development of bioplastics and biopolymers through initiatives such as the Made in China 2025 plan, which aims to increase the use of renewable energy and reduce carbon emissions. Additionally, the country’s strong growing manufacturing base and the growth in investments for research and development are also other factors that are imperative in driving the market growth.

India, on the other hand, is also playing a significant role in driving the Asia-Pacific bioplastics market. The country's growing population and increasing awareness of environmental issues are driving the demand for eco-friendly alternatives. The Indian government, moreover, has implemented policies to promote the use of bioplastics, such as the Swachh Bharat Abhiyan (Clean India Mission), which aims to reduce plastic waste and promote sustainable practices. India, being home to major companies such as Tata Chemical LTD and even Plantic Technologies Limited, regarded as key market players, is driving India's growth in the APAC region for the bio-based polypropylene market.

The Bio-Based Polypropylene Market Key Developments:

In June 2021, SABIC announced that Delica AG would be moving forward towards launching a new range of more sustainable coffee capsules based on SABIC’s certified renewable polymers for use in its proprietary Delizio capsule machines. Delica will use certified renewable polypropylene (PP) resins in the coffee capsules.
In May 2021, Mitsui Chemicals, Nestle, and Toyota Tsusho collaborated to start Japan's first production of renewable plastics from 100% bio-based hydrocarbons.
In June 2021, LyondellBasell and Nestle announced their long-term commercial agreement under which LyondellBasell will be responsible for sourcing Nestle’s RE and will make polymers and chemicals from renewable feedstock.
In March 2020, based on the Nestle-produced renewable feedstock, Borealis started to produce polypropylene (PP) in its production facilities in Kallo and Beringen, Belgium. This marks the first time Borealis has replaced fossil fuel-based feedstock in its large-scale commercial production of PP.

The Bio-Based Polypropylene Market is segmented and analyzed as follows:

By Application
Injection
Textile
Films
By End-User Industry
Automotive
Electronics
Construction
Industrial Applications
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Middle East and Africa
Saudi Arabia
UAE
Rest of the Middle East and Africa
Asia-Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Rest of Asia-Pacific