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Biobased Propylene Market Key Insights
Biobased Propylene Market Analysis by Regions
Biobased Propylene Market Analysis by Segments
Biobased Propylene Market Size (current and future)
Biobased Propylene Market Competitive Benchmarking
2 years ago
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 environme...
Biobased Propylene Market
According to forecasts, there will be an upward trend toward the usage of specialised polymers to help with automotive downsizing.
This is further explained by the increased emphasis being placed on decreasing automobile carbon emissions as a result of strict restrictions in places like Asia Pacific, North America, and Europe. Another factor propelling the market growth of biobased propylene is it is very lightweight.
Furthermore, the increase in usage of propylene films in various applications, including shrink films and food packaging, will further propel the market growth. On the other hand, the increased accessibility of substitute goods like bio-based PLA and PET restrains market expansion.
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