The biobased propylene market size 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 considered a substitute for synthetic propylene, which is mostly used to produce polypropylene. The increased focus of manufacturing companies on sustainable manufacturing processes has led to a rise in emphasis on the development of biobased propylene.Europe is expected to dominate the global biobased propylene market in 2023 and retain its dominance during the forecast period. Increased government support and rise in initiatives regarding the adoption of biobased plastics are leading to an increased demand for biobased polypropylene. The European Union (EU) promotes the application of biobased, biodegradable, and compostable plastics to contribute to a sustainable plastics economy. Along with the increased government support, the rise in demand for bioplastics from the packaging industry in Europe has led to the increasing adoption of biobased polypropylene. Thus, these factors positively impact the market across the region. Asia Pacific is expected to be the fastest-growing region for the bio-based propylene market. The increase in awareness owing to the rising hazards of conventional plastics on the environment and overall economy, coupled with rising government support such as funding and financial assistance is helping in developing the bio-based propylene market across the region.
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Biobased Propylene Market: Strategic Insights
Market Size Value in US$ 63.71 million in 2023 Market Size Value by US$ 83.69 million by 2028 Growth rate CAGR of 5.6% from 2023 to 2028. Forecast Period 2023 - 2028 Base Year 2023
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Biobased Propylene Market: Strategic Insights
| Market Size Value in | US$ 63.71 million in 2023 |
| Market Size Value by | US$ 83.69 million by 2028 |
| Growth rate | CAGR of 5.6% from 2023 to 2028. |
| Forecast Period | 2023 - 2028 |
| Base Year | 2023 |
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Biobased Propylene Market Forecast, by Region, 2023–2028
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Market Insights
Rising Government Support
The rise in government support related to the adoption of biobased materials has led manufacturers to develop biobased products such as biobased propylene. The increased initiatives from various governments worldwide for the adoption of biobased plastics will drive the market growth. The EU promotes the application of biobased, biodegradable, and compostable plastics to contribute to a sustainable plastics economy. Through its initiatives, the government of Japan has led to increased development of products made from biodegradable bioplastics and subsidized companies that produce paper alternatives to plastic. The rising government support for the adoption of biobased plastics will positively impact the market. Along with this, The US Department of Agriculture (USDA) is involved in and supporting various programs which are focused on increasing the research, development, and buyer/consumer awareness of bioplastics. The USDA’s BioPreferred Program works to raise the consumption and usage of biobased products through federal procurement and a certification and labeling initiative.
Derivative Insights
Based on derivative, the biobased propylene market is segmented into polypropylene, propylene oxide, acrylonitrile, cumene, and others. In 2023, the polypropylene segment is expected to dominate the global market. Various applications of polypropylene, including bottles, food containers, cosmetic packaging, automotive components and parts, medical equipment, fibers, and films, are driving the demand for polypropylene. The increase in awareness of global warming and the depletion of fossil fuels have led manufacturers to develop biobased propylene, which can, in turn, be used to produce biobased polypropylene.
Biobased Propylene Market Share, by Derivative – 2023 and 2028
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Mitsui Chemicals, Inc.; Borealis AG; Global Bioenergies; The Dow Chemical Company; Cereplast, Inc.; and Trellis Earth Products, Inc. are among the key players operating in the biobased propylene market. The leading players adopt several strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer base.
Report Spotlights
- Progressive trends in the biobased propylene industry to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the global market from 2023 to 2028
- Estimation of the demand for biobased propylene across various industries
- Porter's analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
- Recent developments to understand the competitive market scenario and the demand for the biobased propylene
- Market trends and outlook coupled with factors driving and restraining the growth of the biobased propylene market
- Understanding regarding the strategies that underpin commercial interest with regard to the global market growth, aiding in the decision-making process
- Biobased propylene market size at various nodes of market
- Detailed overview and segmentation of the global biobased propylene market as well as its industry dynamics
- Biobased propylene market size in various regions with promising growth opportunities
The "Global Biobased Propylene Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry with a special focus on the global biobased propylene market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The biobased propylene market is segmented based on derivative and geography. Based on derivative, the market is segmented into polypropylene, propylene oxide, acrylonitrile, cumene, and others. Based on geography, the market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America.
Company Profiles
- Mitsui Chemicals, Inc.
- Borealis AG
- Global Bioenergies
- The Dow Chemical Company
- Cereplast, Inc.
- Trellis Earth Products, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Derivative
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, GCC, Germany, India, Italy, Japan, Mexico, South Africa, South Korea, United Kingdom, United States
Frequently Asked Questions
In 2023, Europe is projected to lead the global biobased propylene market owing to the rising sustainability concerns in the European Union (EU) countries.
Based on derivative, the polypropylene segment held the largest share in the biobased propylene market as biobased propylene is one of the major precursors for manufacturing polypropylene.
In 2023, Asia-Pacific is expected to be the fastest growing region within the global biobased propylene market owing to the presence of prominent players in the region such as Mitsui Chemicals Inc., coupled with strong government support for developing biobased polymers.
The biobased propylene market is still at a nascent stage and the report provides futuristic demand for biobased propylene. The scope of biobased propylene market is based on derivatives of propylene such as polypropylene, acrylonitrile, propylene oxide, cumene, and others. Moreover, based on geography the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South and Central America.
Some of the prominent players operating in the global biobased propylene market include Mitsui Chemicals, Inc.; Borealis AG; Global Bioenergies; The Dow Chemical Company; Cereplast, Inc.; and Trellis Earth Products, Inc.
The global biobased propylene market is primarily driven by the rising awareness related to the negative impacts of petroleum-based plastics on the environment coupled with rising efforts by prominent players for developing new approaches to manufacture propylene from renewable feedstock.
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)
LIST OF FIGURES
Figure 1. Global Biobased Propylene Market Segmentation
Figure 2. Global Biobased Propylene Market Segmentation – By Geography
Figure 3. Global Biobased Propylene Market Overview
Figure 4. Polypropylene Segment Held Largest Share of Global Biobased Propylene Market
Figure 5. Europe Region Held Largest Share of Global Biobased Propylene Market
Figure 6. Global Biobased Propylene Market, Key Market Players
Figure 7. Porter’s Five Forces Analysis
Figure 8. Biobased Propylene Market, Ecosystem
Figure 9. Expert Opinion
Figure 10. Global Biobased Propylene Market Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of Global Biobased Propylene Market
Figure 12. Global: Biobased Propylene Market – Revenue and Forecast To 2028 (US$ Million)
Figure 13. Biobased Propylene Market Revenue Share, By Derivatives (2023 and 2028)
Figure 14. Polypropylene: Biobased Propylene Market – Revenue and Forecast To 2028 (US$ Million)
Figure 15. Propylene Oxide: Biobased Propylene Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. Acrylonitrile: Biobased Propylene Market – Revenue and Forecast To 2028 (US$ Million)
Figure 17. Cumene: Biobased Propylene Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. Others: Biobased Propylene Market – Revenue and Forecast To 2028 (US$ Million)
Figure 19. Bio-based Propylene Market, Global Breakdown by Region, 2023 & 2028 (%)
Figure 20. North America: Bio-based Propylene Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America: Bio-based Propylene Market Revenue Share, by Derivative (2023 and 2028)
Figure 22. North America: Bio-based Propylene Market Revenue Share, by Key Country (2023 and 2028)
Figure 23. US: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 24. Canada: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. Mexico: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 26. Europe: Bio-based Propylene Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Europe: Bio-based Propylene Market Revenue Share, by derivative (2023 and 2028)
Figure 28. Europe: Bio-based Propylene Market Revenue Share, by Key Country (2023 and 2028)
Figure 29. Germany: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 30. France: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31. UK: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 32. Italy: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 33. Rest of Europe: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 34. Asia-Pacific: Bio-based Propylene Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Asia-Pacific: Bio-based Propylene Market Revenue Share, by Derivative (2023 and 2028)
Figure 36. Asia-Pacific: Bio-based Propylene Market Revenue Share, by Key Country (2023 and 2028)
Figure 37. Australia: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 38. China: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 39. India: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 40. Japan: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 41. South Korea: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 42. Rest of Asia-Pacific: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 43. Middle East and Africa: Bio-based Propylene Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. Middle East and Africa: Bio-based Propylene Market Revenue Share, by Derivative (2023 and 2028)
Figure 45. Middle East and Africa: Bio-based Propylene Market Revenue Share, by Key Country (2023 and 2028)
Figure 46. South Africa: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 47. GCC: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 48. Rest of the Middle East & Africa: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 49. South and Central America: Bio-based Propylene Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. South and Central America: Bio-based Propylene Market Revenue Share, by Derivative (2023 and 2028)
Figure 51. South and Central America: Bio-based Propylene Market Revenue Share, by Key Country (2023 and 2028)
Figure 52. Brazil: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 53. Rest of South and Central America: Bio-based Propylene Market –Revenue and Forecast to 2028 (US$ Million)
Figure 54. Impact of COVID-19 Pandemic on Biobased Propylene Market in North America
Figure 55. Impact of COVID-19 Pandemic on Biobased Propylene Market in Europe
Figure 56. Impact of COVID-19 Pandemic on Biobased Propylene Market in Asia Pacific
Figure 57. Impact of COVID-19 Pandemic on Biobased Propylene in Middle East and Africa
Figure 58. Impact of COVID-19 Pandemic on Biobased Propylene in South America
The List of Companies - Bio-based Propylene Market
- Mitsui Chemicals, Inc.
- Borealis AG
- Global Bioenergies
- The Dow Chemical Company
- Cereplast, Inc
- Trellis Earth Products, Inc.
- BASF SE
- Braskem
- Corbion
- SABIC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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