Polypropylene, also termed as polypropene, is a type of thermoplastic polymer resin. It can be employed in a wide range of applications such as textiles, labeling and packaging, plastics, stationary, and laboratories. Biobased polypropylene has features similar to synthetic polypropylene. However, it is manufactured from biobased raw materials such as corn, sugarcane, and beet.
Global Biobased Polypropylene Market: Segmentation
The global biobased polypropylene market can be segmented based on manufacturing process, application, and region. In terms of manufacturing process, the market can be bifurcated into fermentation and gasification. Among these, fermentation is the leading segment. The ethanol derived biobased polypropylene is witnessed for the significant growth during the forecast period due to their highly acceptance from the market. In terms of application, the biobased polypropylene market can be divided into injection, textile, films, food packaging industry, and others. Among these applications, the growing demand for biobased polypropylene in food & packaging industry, and in the films witnessed from the strong growth during the forecast period. Additionally, the rise in trend of using lightweight film in automotive industry propel the application demand during the forecast period. Biobased polypropylene is widely used in packaging of food products such as vegetables, meat, and confectionery products.
Global Biobased Polypropylene Market: Trends & Developments
Demand for biobased polypropylene has been increasing due to rise in its consumption in various industries. Additionally, factors such as growing need for reducing GHG emission and rising demand for bio-derived products due to environment concerns are projected to propel the demand for biobased polypropylene during the forecast period. Moreover, growing initiatives to minimize carbon emissions and increasing investments in R&D activities to develop biobased polypropylene are anticipated to fuel the market in the next few years. However, significant availability of substitute products including polylactic acid and biobased PET is estimated to restrain the market in the next few years. Furthermore, increasing demand for sugarcane, soya, and corn from the food & beverages industry impacts the availability of raw materials required in the manufacture of biobased polypropylene. This may hamper the market during the forecast period.
Global Biobased Polypropylene Market: Regional Outlook
Based on region, the global biobased polypropylene market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is a major region of the global biobased polypropylene market, as the U.S. EPA has imposed regulations on the adoption of biobased polypropylene. This, in turn, is propelling the demand for biobased polypropylene in the region. The Europe market is anticipated to expand at a rapid pace during the forecast period, followed by North America. The supportive regulatory frameworks from the Europe government towards adopting biobased polypropylene propel the Europe market growth. The biobased polypropylene market in Middle East & Africa and Latin America is projected to expand at a moderate pace in the near future, due to presence of developing economies in these regions.
Global Biobased Polypropylene Market: Key Players
Key players operating in the global biobased polypropylene market are Biobent Polymers, Trellis Earth Products, Inc., Braskem S.A., The Dow Chemical Company, Global Bioenergies SA, Braskem, SABIC, LyondellBasell Industries, China Petrochemical Corporation, Washington Penn Plastic Co., Inc., Chevron Phillips Chemical Company, BASF, Japan Polypropylene Corporation, Fulton Companies, Qatar Petrochemical Company Q.S.C.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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