Synthetic And Bio based Polypropylene Market: Development Factors and Technology Analysis to 2032
The global Synthetic And Bio based Polypropylene Market derived from renewable sources like corn, sugarcane, and beet, exhibited a market size of USD 89.88 Billion in 2022. Projections indicate that by 2032, it is poised to escalate to USD 165.24 Billion, underlining a robust compound annual growth rate (CAGR) of 7% throughout the forecast period.
The surge in awareness regarding sustainable development and the growing demand for environmentally-friendly solutions are principal drivers propelling the revenue expansion of this market. Bio-based polypropylene, in contrast to its synthetic counterpart, emits fewer carbon dioxide emissions during production and is biodegradable. Notably, this eco-friendly material finds extensive applications in the automotive sector, thanks to its lightweight nature, contributing to enhanced vehicle fuel efficiency.
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Major Companies:
- Braskem S.A.
- LyondellBasell Industries Holdings B.V.
- SABIC
- Exxon Mobil Corporation
- Total S.A.
- Reliance Industries Limited
- Sinopec Corp.
- Borealis AG
- Dow Inc.
- INEOS Group Holdings SA
Strategic Development:
- In 2020, Braskem S.A. introduced a new I'm greenT product line of bio-based polypropylene. The product has a reduced carbon footprint than conventional polypropylene because it is made from sugarcane ethanol.
- In 2021, Sasol Limited and LyondellBasell Industries Holdings B.V. stated that their joint venture project, Louisiana Integrated Polypropylene Complex, would be finished. The goal of the project is to create high-quality polypropylene products for use across a range of industries.
- Exxon Mobil Corporation revealed intentions to increase the volume of high-performance polypropylene goods produced at its Texas facility in 2021. The increase in demand for polypropylene products in the packaging and automotive industries is the reason for the expansion.
Key questions addressed in the report:
- What is the expected market size of the global Synthetic and Bio-Based Polypropylene market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Synthetic and Bio-Based Polypropylene market?
Synthetic and Bio-Based Polypropylene Market Segmentation:
By Product Type Outlook:
- Homopolymer
- Copolymer
By Application Outlook:
- Packaging
- Automotive
- Construction
- Healthcare
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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