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Bio-based polypropyleneis a polymer derived from renewable sources such as sugarcane, corn, vegetable fats, oils, and other biomass sources. Bio-based polyproplene exhibits properties similar to synthetic polyproplene. Owing to factors such as rise in demand for automobiles, and increasing emphasis of consumers on the use of eco-friendly bio products has led to the growth in the bio-based polypropylene market. Regulations from the government and various organisations has boosted the consumption of bio-based polypropylene.
The market for bio-based polypropylene is driven due to the rising demand from automotive industry. The need of automotive manufacturers to reduce the weight of vehicles to reduce fuel consumption and minimize greenhouse gas emission has led to the adoption of bio-polypropylene in the vehicles. Bio-based polypropylene is a versatile material that offers properties similar to metals and is used to replace them. Hence, the rising automotive industry will drive the demand for bio-based polypropylene.
Key Market Driver -
Rising demand for bio-based polypropylene from automotive industry.
Key Market Restraint -
Cost of production of bio-based polypropylene.
The production cost of bio-based polypropylene is expected to act as a market restraint for the global bio-based polypropylene market. Bio-based polypropylene can be produced from various natural sources but the manufacturing cost of bio-polypropylene is expensive compared to that of synthetic polypropylene. Hence, many manufacturers hesitate to adopt the production of bio-based polypropylene, thereby restraining the market.
Based on application, the bio-based polypropylene market is segmented into textile, injection molding, films, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Some of the key players in the bio-based polypropylene market includes, Braskem, SABIC, Neste, FKuR Kunststoff GmbH, PTT Global Chemical Public Company Limited, Global Bioenergies, Borealis, Mitsui Chemicals Inc., The Dow Chemical Company, LyondellBasell Industries Holdings B.V., and other key players.
The bio-based polypropylene market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America will witness rise in demand for bio-based polypropylene owing the regulations by the U.S. EPA favoring the use of bio-based polymers. Additionally, rising consumption of bio-based polyproplene in the packaging industry will boost the growth of the market. Europe being the major hub of automotive manufacturers, will witness the growth in demand for bio-based polpropylene. Major automotive manufacturers are using bio-polyproplene to reduce the weight of the vehicles.
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In Asia Pacific, high demand for automobiles, and activities to improve infrastructure are few factors growing the bio-based polyproplene market. In Latin America, changing outlook of manufacturers and consumers towards environment friendly materials will increase the market demand. In the Middle East & Africa, the growth of bio-based polypropylene market will be due to the increasing preference towards the use of bio-based polymers.
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