Biobased Propylene Market Forecast to 2028

Report Code : TIPRE00027435 | Region : Global | Industry : Chemicals and Materials | Published Date : 28/Feb/2022
Biobased Propylene Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Derivative (Polypropylene, Propylene Oxide, Acrylonitrile, Cumene, and Others)

The biobased propylene market is expected to be valued at US$ 63.71 million in 2023 and is projected to reach US$ 83.69 million by 2028; it is expected to grow at a CAGR of 5.6% from 2023 to 2028.

Biobased propylene is made from renewable sources and is primarily used to produce biobased polypropylene. The increasing demand for bioplastics due to the rise in awareness about the environment has led to a surge in the need for biobased polypropylene. This, in turn, is expected to have a positive impact on the biobased propylene market.

Based on derivative, the global biobased propylene market is segmented into polypropylene, propylene oxide, acrylonitrile, cumene, and others. The acrylonitrile segment is expected to be the fastest-growing segment during the forecast period. Acrylonitrile is mostly prepared through a catalytic reaction of propylene in combination with ammonia and air. The increased use of acrylonitrile in the aviation and medical industries is driving its demand. Along with this, an increased focus on making products with low CO2 emissions has led to the increasing demand for biobased acrylonitrile, which will lead to an increased focus on the development of biobased propylene.

The biobased propylene market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SCAM), and the Middle East & Africa (MEA). Asia Pacific is expected to be the fastest-growing region for the biobased propylene market. The increased support from the government and initiatives taken by manufacturers to discover using biobased propylene to produce polypropylene due to rising concerns about greenhouse gas emission and global warming are positively impacting the growth of the biobased propylene market.

 

Many industries, such as the chemicals and materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw material and labor, the shutdown of factories, and other operational difficulties under COVID-19 safety protocols negatively impacted the biobased propylene market. The lockdown heavily impacted the research and development side of biobased propylene, restraining the market's growth. However, the introduction of the COVID-19 vaccine has further eased the situation, leading to a rise in business activities worldwide. The economies are reviving their operations, and the demand for biobased propylene is expected to rise globally in the coming years. Along with this, due to an overdependence on the gasoline and diesel markets, the manufacturers are now increasingly focusing on the development of biobased propylene, which will be developed using renewable sources.

Mitsui Chemicals, Inc.; Borealis AG; Global Bioenergies; The Dow Chemical Company; Cereplast, Inc.; and Trellis Earth Products, Inc. are among the leading players in the biobased propylene market. These companies are adopting strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer bases.

The overall global biobased propylene market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the global biobased propylene market.

The List of Companies - Biobased Propylene Market

1. Mitsui Chemicals, Inc.

2. Borealis AG

3. Global Bioenergies

4. The Dow Chemical Company

5. Cereplast, Inc

6. Trellis Earth Products, Inc.

7. BASF SE

8. Braskem

9. Corbion

10. SABIC

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection

3.2.2 Primary Interviews

3.2.3 Hypothesis Formulation

3.2.4 Macro-economic Factor Analysis

3.2.5 Data Triangulation

3.2.6 Country-Level Data

3.2.7 Assumptions

4. Global Biobased Propylene Market Landscape

4.1 Market Overview

4.2 Porter’s Five Forces Analysis

4.2.1 Threat of New Entrants:

4.2.2 Bargaining Power of Suppliers:

4.2.3 Bargaining Power of Buyers:

4.2.4 Competitive Rivalry:

4.2.5 Threat of Substitutes:

4.3 Ecosystem Analysis

4.3.1 Raw Material:

4.3.2 Manufacturing/Process:

4.3.3 End-Use:

4.4 Expert Opinion

5. Biobased Propylene Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Various Applications of Biobased Propylene

5.1.2 Rising Government Support

5.2 Market Restraints

5.2.1 High Availability of Synthetic Propylene

5.3 Market Opportunities

5.3.1 Innovative Production Process to Produce Biobased Propylene

5.4 Future Trends

5.4.1 Growing Sustainability Trend

5.5 Impact Analysis of Drivers and Restraints

6. Global Biobased Propylene Market– Global Analysis

6.1 Global Market Overview

6.2 Biobased Propylene Market –Revenue and Forecast To 2028 (US$ Million)

6.3 Competitive Positioning – Market Players

7. Global Biobased Propylene Market Analysis – By Derivatives

7.1 Overview

7.2 Biobased Propylene Market, By Derivatives (2023 and 2028)

7.3 Polypropylene

7.3.1 Polypropylene: Biobased Propylene Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Propylene Oxide

7.4.1 Propylene Oxide: Biobased Propylene Market – Revenue and Forecast to 2028 (US$ Million)

7.5 Acrylonitrile

7.5.1 Acrylonitrile: Biobased Propylene Market – Revenue and Forecast to 2028 (US$ Million)

7.6 Cumene

7.6.1 Cumene: Biobased Propylene Market – Revenue and Forecast to 2028 (US$ Million)

7.7 Others

7.7.1 Others: Biobased Propylene Market – Revenue and Forecast to 2028 (US$ Million)

8. Bio-based Propylene Market – Geographical Analysis

8.1 Overview

8.2 North America: Bio-based Propylene Market

8.2.1 North America: Bio-based Propylene Market – Analysis and Forecast to 2028 (US$ Million)

8.2.2 North America: Bio-based Propylene Market, by Derivative

8.2.3 North America: Bio-based Propylene Market, by Key Country

8.2.3.1 US: Bio-based Propylene Market –Analysis and Forecast to 2028 (US$ Million)

8.2.3.1.1 US: Bio-based Propylene Market, by Derivative

8.2.3.2 Canada: Bio-based Propylene Market –Analysis and Forecast to 2028 (US$ Million)

8.2.3.2.1 Canada: Bio-based Propylene Market, by Derivative

8.2.3.3 Mexico: Bio-based Propylene Market –Analysis and Forecast to 2028 (US$ Million)

8.2.3.3.1 Mexico: Bio-based Propylene Market, by Derivative

8.3 Europe: Bio-based Propylene Market

8.3.1 Europe: Bio-based Propylene Market – Analysis and Forecast to 2028 (US$ Million)

8.3.2 Europe: Bio-based Propylene Market, by derivative

8.3.3 Europe: Bio-based Propylene Market, by Key Country

8.3.3.1 Germany: Bio-based Propylene Market –Analysis and Forecast to 2028 (US$ Million)

8.3.3.1.1 Germany: Bio-based Propylene Market, by Derivative

8.3.3.2 France: Bio-based Propylene Market –Analysis and Forecast to 2028 (US$ Million)

8.3.3.2.1 France: Bio-based Propylene Market, by Derivative

8.3.3.3 UK: Bio-based Propylene Market –Analysis and Forecast to 2028 (US$ Million)

8.3.3.3.1 UK: Bio-based Propylene Market, by Derivative

8.3.3.4 Italy: Bio-based Propylene Market –Analysis and Forecast to 2028 (US$ Million)

8.3.3.4.1 Italy: Bio-based Propylene Market, by Derivative

8.3.3.5 Rest of Europe: Bio-based Propylene Market –Analysis and Forecast to 2028 (US$ Million)

8.3.3.5.1 Rest of Europe: Bio-based Propylene Market, by Derivative

8.4 Asia-Pacific: Bio-based Propylene Market

8.4.1 Asia-Pacific: Bio-based Propylene Market –Revenue and Forecast to 2028(US$ Million)

8.4.2 Asia-Pacific: Bio-based Propylene Market, by Derivative

8.4.3 Asia-Pacific: Bio-based Propylene Market, by Key Country

8.4.3.1 Australia: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.4.3.1.1 Australia: Bio-based Propylene Market, by Derivative

8.4.3.2 China: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.4.3.2.1 China: Bio-based Propylene Market, by Derivative

8.4.3.3 India: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.4.3.3.1 India: Bio-based Propylene Market, by Derivative

8.4.3.4 Japan: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.4.3.4.1 Japan: Bio-based Propylene Market, by Derivative

8.4.3.5 South Korea: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.4.3.5.1 South Korea: Bio-based Propylene Market, by Derivative

8.4.3.6 Rest of Asia-Pacific: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.4.3.6.1 Rest of Asia-Pacific: Bio-based Propylene Market, by Derivative

8.5 Middle East and Africa: Bio-based Propylene Market

8.5.1 Middle East and Africa: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.5.2 Middle East and Africa: Bio-based Propylene Market, by Derivative

8.5.3 Middle East and Africa: Bio-based Propylene Market, by Key Country

8.5.3.1 South Africa: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.5.3.1.1 South Africa: Bio-based Propylene Market, by Derivative

8.5.3.2 GCC: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.5.3.2.1 GCC: Bio-based Propylene Market, by Derivative

8.5.3.3 Rest of the Middle East & Africa: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.5.3.3.1 Rest of the Middle East & Africa: Bio-based Propylene Market, by Derivative

8.6 South and Central America: Bio-based Propylene Market

8.6.1 South and Central America: Bio-based Propylene Market –Revenue and Forecast to 2028(US$ Million)

8.6.2 South and Central America: Bio-based Propylene Market, by Derivative

8.6.3 South and Central America: Bio-based Propylene Market, by Key Country

8.6.3.1 Brazil: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.6.3.1.1 Brazil: Bio-based Propylene Market, by Derivative

8.6.3.2 Rest of South and Central America: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)

8.6.3.2.1 Rest of South and Central America: Bio-based Propylene Market, by Derivative

9. Impact of COVID-19

9.1 Overview – Impact of COVID-19

9.2 North America: Impact Assessment of COVID-19 Pandemic

9.3 Europe: Impact Assessment of COVID-19 Pandemic

9.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic

9.5 Middle East and Africa: Impact Assessment of COVID-19 Pandemic

9.6 South America: Impact Assessment of COVID-19 Pandemic

10. Company Profiles

10.1 Mitsui Chemicals, Inc.

10.1.1 Key Facts

10.1.2 Business Description

10.1.3 Products and Services

10.1.4 Financial Overview

10.1.5 SWOT Analysis

10.1.6 Key Developments

10.2 Borealis AG

10.2.1 Key Facts

10.2.2 Business Description

10.2.3 Products and Services

10.2.4 Financial Overview

10.2.5 SWOT Analysis

10.2.6 Key Developments

10.3 Global Bioenergies

10.3.1 Key Facts

10.3.2 Business Description

10.3.3 Products and Services

10.3.4 Financial Overview

10.3.5 SWOT Analysis

10.3.6 Key Developments

10.4 The Dow Chemical Company

10.4.1 Key Facts

10.4.2 Business Description

10.4.3 Products and Services

10.4.4 Financial Overview

10.4.5 SWOT Analysis

10.4.6 Key Developments

10.5 Cereplast, Inc.

10.5.1 Key Facts

10.5.2 Business Description

10.5.3 Products and Services

10.5.4 Financial Overview

10.5.5 SWOT Analysis

10.5.6 Key Developments

10.6 Trellis Earth Products, Inc.

10.6.1 Key Facts

10.6.2 Business Description

10.6.3 Products and Services

10.6.4 Financial Overview

10.6.5 SWOT Analysis

10.6.6 Key Developments

11. Appendix

11.1 About The Insight Partners

11.2 Glossary of Terms

LIST OF TABLES.

Table 1. Biobased Propylene Market –Revenue and Forecast To 2028 (US$ Million)

Table 2. North America Bio-based Propylene Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)

Table 3. US Bio-based Propylene Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)

Table 4. Canada Bio-based Propylene Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)

Table 5. Mexico Bio-based Propylene Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)

Table 6. Europe Bio-based Propylene Market, by derivative – Revenue and Forecast to 2028 (US$ Million)

Table 7. Germany Bio-based Propylene Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)

Table 8. France Bio-based Propylene Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)

Table 9. UK Bio-based Propylene Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)

Table 10. Italy Bio-based Propylene Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)

Table 11. Rest of Europe Bio-based Propylene Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)

Table 12. Asia-Pacific Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 13. Australia Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 14. China Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 15. India Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 16. Japan Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 17. South Korea Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 18. Rest of Asia-Pacific Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 19. Middle East and Africa Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 20. South Africa Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 21. GCC Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 22. Rest of the Middle East & Africa Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 23. South and Central America Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 24. Brazil Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

Table 25. Rest of South and Central America Bio-based Propylene Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)

The List of Companies - Biobased Propylene Market

1. Mitsui Chemicals, Inc.

2. Borealis AG

3. Global Bioenergies

4. The Dow Chemical Company

5. Cereplast, Inc

6. Trellis Earth Products, Inc.

7. BASF SE

8. Braskem

9. Corbion

10. SABIC

Reason To Buy

• Highlights key business priorities to assist companies realign their business strategies.

• Features key findings and crucial progressive industry trends in the global biobased propylene market, thereby allowing players to develop effective long-term strategies.

• Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.

• Scrutinizes in-depth market trends as well as key market drivers and restraints.

• Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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