Bio-based Polypropylene Market: Technological Advancements and Developments
The global bio-based polypropylene market was valued at USD 124.7 million in 2023 and is projected to reach USD 391.6 million by 2030, growing at a compound annual growth rate (CAGR) of 18.2% from 2024 to 2030. The demand for bio-based polypropylene is anticipated to rise due to the increasing adoption of environmentally friendly plastic products across various industries, including food, textiles, and pharmaceuticals. Growing global concerns regarding the toxicity of petrochemicals and the depletion of crude oil reserves have spurred the development of bio-based polymers worldwide. The global plastics industry is expected to ramp up bioplastic production in response to government regulations that limit the use of petroleum-based plastics, particularly in automotive and food packaging sectors, as well as in medical devices. Consequently, rising environmental concerns over petroleum-based plastics have fueled the demand for alternative materials. Manufacturers are act...