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The bio polypropylene market share is expected to increase by 808.13 thousand tons from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4%.
This bio polypropylene market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bio polypropylene market segmentations by application (injection molding, fiber, films, and others) and geography (Europe, North America, APAC, MEA, and South America). The bio polypropylene market report also offers information on several market vendors, including Borealis AG, Braskem SA, FKuR Kunststoff GmbH, Neste Corp., Saudi Basic Industries Corp., and Technoform Kunststoffprofile GmbH among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The rising preference for biodegradable products is notably driving the bio polypropylene market growth, although factors such as increasing availability of shale gas may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bio polypropylene industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Bio Polypropylene Market Driver
The rising preference of consumers for biodegradable products is one of the key factors driving the growth of the global bio polypropylene market. Under the Single Market for Green Products initiative adopted by the European Commission, only 15% of the EU citizens do not buy eco-friendly products. Bio PP is extensively used for producing bottle closures for beverage bottles. The increasing inclination of consumers toward bio-based products, food, and beverages is urging the use of bio PP as packaging material due to its lightweight, exceptional transparency, recyclability, and reduced wall thickness. These boost the production of more finished goods using lesser raw materials, thereby reducing the cost of transportation and carbon footprint at a substantial rate. Governments around the world are encouraging consumers to prefer biodegradable products over other synthetic products by taking drastic steps toward the advancement of bio-based packaging in terms of their resources, development, and key environmental strategies. This, in turn, is expected to drive the growth of the market in focus during the forecast period.
Key Bio Polypropylene Market Trend
Sustainable packaging solutions will fuel the global bio polypropylene market growth. Multinational companies like Coca-Cola, Procter & Gamble, Heinz, and Danone are searching for better options for the sustainable packaging of their products. The closures used in beverage bottles are usually made from bio-PP, thereby providing an optimal solution for sustainable packaging. The industry refers to sustainable packaging as highly biodegradable food packaging, which is an alternative to plastic, paper, and styrofoam. Straw Hat Pizza is a fine example of pizza manufacturers who separate food and compostable materials in their eateries. A company called Skinny Pines uses an innovative recyclable and eco-friendly pizza box named Green Box that can be easily dismantled to make it easy to store and dispose of. In addition, it ensures sustainability from the use of biodegradable cups and plates to using eco-friendly wood-burning ovens. However, few supermarkets, such as Whole Foods and Trader Joe's, use biodegradable and compostable containers on a regular basis. The above factors will increase the market growth during the forecast period.
Key Bio Polypropylene Market Challenge
The increasing availability of shale gas is a major challenge for the global bio polypropylene market growth. The expansion in the production capacity of shale gas in the US is diminishing the cost of gas worldwide because of the decreasing demand for liquefied petroleum gas in the US. The plastics business is expected to recover as the US has been producing low-cost raw materials for the plastic industry. The abundant availability of natural gas and common gas in the liquefied state has been attracting huge investments to enhance the capacity for new plastic resins. Plastic resins need to be processed, and additional substances need to be mixed to attain certain required properties. This is done before the resin is converted into a plastic item. These additional properties are required in related industrial applications such as those involved in injection molds and plastic resin additives. However, the increasing demand for shale gas is hindering the growth of the global bio PP market because of lower costs involved in the production of injection molds and plastic additives from shale gas compared to those produced by bio PP.
This bio polypropylene market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global bio polypropylene market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bio polypropylene market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the bio polypropylene market encompasses successful business strategies deployed by the key vendors. The bio polypropylene market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The bio polypropylene market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the bio polypropylene market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global specialty chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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