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Green Polypropylene Market to Hit USD 67.3 Billion by 2034, at a 5.6% CAGR | Analysis by Transparency Market Research, Inc.

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Increased investment in research and development to enhance the properties and applications of green polypropylene presents significant growth opportunities.

WILMINGTON, Del., July 18, 2024 /PRNewswire/ — The green polypropylene market was projected to attain US$ 40.2 billion in 2022. It is likely to garner a 5.6% CAGR from 2023 to 2031, and by 2031, the market is expected to attain US$ 67.3 billion.

Rising consumer preference for eco-friendly and sustainable products is pushing manufacturers to incorporate green polypropylene in their offerings. Ongoing research and development in bioplastics and polymer technologies are leading to improved production processes and better-quality green polypropylene.

Increasing applications in various industries such as automotive, packaging, textiles, and consumer goods are expanding the market for green polypropylene. The shift towards circular economy models, where materials are reused and recycled, is promoting the use of green polypropylene.

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Polypropylene (PP), being the world’s second-largest plastic resin by production volume, is a versatile thermoplastic polymer widely used in packaging, food, automotive, consumer goods, medical industries, and more. Despite having high demand, the environmental impact of polypropylene is raising significant concerns among consumers, manufacturers and governments. In recent years, the growing amount of PP waste has sparked increasing concern. Synthetic polypropylenes serve a broad range of needs, but in order to mitigate the impact of these petroleum-based plastics and their waste, significant attention has turned towards bio-based i.e. green alternative of polypropylenes.

The green polypropylene has resolved this issue of environmental impact of plastics to large extent. The sustainability of green polypropylene polymers, for both general and specific applications, is being enhanced with the help of advances in processing technologies and infrastructures that refine biomass feedstock to produce bio-based monomers used as building blocks.

Due to environmental concerns and stringent regulations related to plastics, there is a growing demand for green polypropylene, particularly in packaging applications, which is one of the major end-use industries.

Another approach targeted by manufacturers is the recycled polypropylene. Although polypropylene is fully recyclable, recycling poses several challenges. Recycled polypropylene may exhibit different properties compared to virgin polypropylene, such as melt-flow rate, molecular weight, or thermal stability, which can limit its use in applications requiring higher impact performance and part stability. Hence, green polypropylene emerges as the best alternative without compromising on properties.

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Strategic collaborations between manufacturers, research institutions, and governments are fostering innovation and market growth. Increasing availability of bio-based feedstocks, such as plant oils and agricultural waste, used to produce green polypropylene.

Growing desire to reduce dependence on fossil fuels is promoting the use of bio-based alternatives like green polypropylene. Enhancements in the performance characteristics of green polypropylene, making it more competitive with conventional polypropylene.

Growing challenges in managing plastic waste are driving the shift toward more sustainable materials. Increasing emphasis on materials that are biodegradable or compostable to reduce environmental impact. Rising number of campaigns and initiatives aimed at educating consumers about the benefits of green polypropylene and other sustainable materials.

Key Findings of the Market Report

Improved integration of green polypropylene with existing recycling infrastructure, enhancing its viability and adoption.Companies leveraging green polypropylene as part of their sustainable branding and marketing strategies to appeal to environmentally conscious consumers.Development of customized green polypropylene solutions to meet specific industry needs, such as automotive, construction, and electronics.Advancements in production processes that reduce energy consumption and increase efficiency in the manufacturing of green polypropylene.

Green Polypropylene Market Report Scope:

Report Coverage

Details 

Forecast Period  

2023-2031

Base Year  

2017-2022

Size in 2022

US$ 40.2 Mn

Forecast (Value) in 2031

US$ 67.3 Mn

Growth Rate (CAGR) 

5.6 %

No. of Pages 

310 Pages 

Segments covered 

By Source, By Application, By Region, By Component, By End-use

Market Trends for Green Polypropylene

By source, the sugarcane segment is expected to boost the growth of the green polypropylene market.Sugarcane is widely available in several regions, particularly in countries with strong agricultural sectors such as Brazil and India. Its abundance makes it a reliable and scalable source for producing green polypropylene.Sugarcane is a renewable resource, and its cultivation has a relatively short growth cycle, allowing for continuous and sustainable production of bio-based polypropylene.The production of green polypropylene from sugarcane has a significantly lower carbon footprint compared to fossil-based polypropylene. This is due to the carbon sequestration properties of sugarcane during its growth.On the basis of application, the automotive components segment is anticipated to propel the market growth.The automotive industry is focused on reducing vehicle weight to improve fuel efficiency and reduce emissions. Green polypropylene offers a lightweight alternative to traditional materials, contributing to overall vehicle efficiency.There is growing consumer demand for eco-friendly vehicles. By using sustainable materials like green polypropylene, automakers can attract environmentally conscious consumers.Advances in the formulation of green polypropylene have improved its mechanical properties, making it suitable for high-performance and durable automotive components.

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Global Market for Green Polypropylene: Regional Outlook

North America

Collaborative efforts between industry players, research institutions, and government bodies are fostering innovation and accelerating the development of green polypropylene applications.Significant investment in research and development by both public and private sectors is driving innovation in the green polypropylene market. This investment is leading to new applications and improved production processes.

Asia Pacific

The automotive industry in Asia Pacific is booming, and there is a growing focus on sustainability and reducing vehicle weight. Green polypropylene is being increasingly used in automotive components to meet these goals.The packaging industry in Asia Pacific is expanding due to the growing e-commerce sector and consumer goods market. Green polypropylene is being adopted for sustainable packaging solutions.

Green Polypropylene Market: Key Players

The competitive landscape of the green polypropylene market is evolving rapidly, driven by sustainability goals, technological advancements, and regulatory pressures, with key players focusing on innovation and strategic alliances to capitalize on emerging opportunities. The following companies are well known participants in the green polypropylene market:

SABICBraskemDow Inc.Borealis AGLyondellBasell Industries Holdings B.V.Total S.A.Trellis BioplasticsBioAmber Inc.NatureWorks LLCDanimer ScientificNovamont S.p.A.FKuR Kunststoff GmbHCorbion N.V.Biobent PolymersGreenMantra TechnologiesMitsui Chemicals Inc.

Key Developments

In 2022, SABIC, a prominent player in the global chemicals industry, announced a partnership with Mattel, a renowned global toy manufacturer. This collaboration focuses on integrating certified renewable polymers sourced from SABIC’s TRUCIRCLE program into Mattel’s product lineup.Starting in 2022, Mattel introduced its initial range of toys incorporating certified renewable SABIC PP (polypropylene) polymers. The debut included products from brands such as MEGA and Matchbox. A standout initiative is MEGA BLOKS Green Town, which marks the first toy line available at mainstream retail outlets to achieve Carbon Neutral certification.

Green Polypropylene Market Segmentation

Source

SugarcaneRice-strawCornRecycled PolypropyleneOthers

Application

FilmsContainersBagsAutomotive ComponentsToysPipesInsulationCarpetsClothingCablesOthers

End Use

Food & BeverageAutomotiveElectrical & ElectronicsAgricultureMedicalPackagingBuilding & ConstructionTextileConsumer GoodsOthers

Region

North AmericaLatin AmericaEuropeAsia PacificMiddle East & Africa

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Cast Polypropylene Packaging Films Market – Cast Polypropylene Packaging Films Market is estimated to grow at a CAGR of 4.3% from 2023 to 2031 and reach US$ 2.0 Bn by the end of 2031.Textile Waterproofing Agents Market – The global textile waterproofing agents market is projected to expand at a CAGR of 6.2% during the forecast period from 2024 to 2034.Firestop Sealants Market – Firestop Sealants Market is estimated to grow at a CAGR of 5.7% from 2024 to 2034 and reach US$ 2.3 Bn by the end of 2034.FGD Gypsum Market – Expansion in construction sector is also contributing to the FGD gypsum market growth. The sector is a major end-user of cement, drywall, and plaster.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Desay SV Collaborates with Qualcomm to Deliver New Intelligent AI Cabin Platform Powered by Snapdragon Elite Automotive Platforms

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New Desay SV G10PH is designed to support superior computing, graphics, and advanced AI-enabled cabin products for automotive OEMs, ensuring cutting-edge performance and functionality.The G10PH is engineered for real-time decision-making, adaptive responses, and proactive assistance to create tailored and intuitive driving experiences.Collaboration is built on a strong and long-term working relationship, marked by the successful development of innovative cabin platforms for global automakers.

LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — Desay SV and Qualcomm Technologies, Inc. held a joint signing ceremony at CES today to commemorate the companies’ co-innovation to deliver Desay SV’s next-generation intelligent cabin platform, the G10PH. Desay SV and Qualcomm Technologies have a strong long-term relationship focused on developing innovative cabin solutions, which are now integrated into millions of vehicles across the globe. Building on this, the companies will collaborate on the G10PH intelligent cabin platform powered by Qualcomm Technologies’ Snapdragon® Cockpit Elite platform. 

The G10PH harnesses the advanced artificial intelligence (AI) capabilities, superior computing and high-definition graphics of the Snapdragon Cockpit Elite platform to push the boundaries of automotive technology. With the Snapdragon Cockpit Elite’s state-of-the-art Qualcomm Oryon™ CPU, Qualcomm® Hexagon™ NPU for accelerated AI performance and improved Qualcomm® Adreno™ GPU, this cutting-edge system provides automakers with the tools to deliver a smart, intuitive, and personalized experience for drivers and passengers*. Additionally, the G10PH enables real-time decision-making, adaptive responses, and proactive assistance, creating an exclusive intelligent cabin assistant that is finely tuned to users’ habits. Every vehicle utilizing the G10PH will feature seamless user interface and support personalized features designed to enhance comfort and convenience befitting a premium user-centric driving experience. 

“At the new inflection point of ‘Software-Defined Vehicle’ and ‘AI-Defined Vehicle,’ Desay SV, together with Qualcomm Technologies, launched the premium AI intelligent cabin platform G10PH, which marks another technological revolution in the process of intelligent cabin and is an important example of Desay SV leading the development of cabin intelligence upgrade,” said Jian Xu, CEO of Desay SV. “We hope that this platform will give a strong impetus to the intelligent transformation of global automotive manufacturers, reshape the new ecosystem of future mobility, and accelerate the realization of the era of intelligent mobility.”

“The automotive industry is on the brink of a new era of intelligent transformation, driven by software and AI. Qualcomm Technologies and Desay SV have built a robust foundation of collaboration, and with our combined expertise in intelligent cockpits and we are excited about the new products featuring Snapdragon Cockpit Elite,” said Nakul Duggal, group general manager, automotive, industrial, and cloud, Qualcomm Technologies, Inc. “These innovations will enable automakers to deliver more advanced AI features and experiences to consumers, setting a new standard in the industry.”

Intelligent cockpit is the carrier of various sensing and interaction technologies, and it reflects the state of development in intelligent vehicle technology. According to KPMG’s analysis, China’s intelligent cabin market will reach RMB212.7 billion in 2026, with a compound annual growth rate of about 17% from 2022 to 2026, and the penetration rate is expected to increase from 59% to 82%. According to the “Smart Cockpit Assembly Data List for January-September 2024” by Gasgoo Automotive Research Institute, Desay SV holds the leading position in the market with an assembly volume of 630,492 units, accounting for 15.5% of the market share.

###

About Desay SV

Desay SV (002920.SZ) is a leading mobility technology company with R&D and service branches in Germany, Japan, Singapore, Spain, USA, etc. The company focuses on efficiently integrating smart cabin, smart drive, and smart service. Relying on 39 years of accumulation, Desay SV has excelled in R&D, design, quality management, and intelligent manufacturing. Desay SV’s continuous innovation and comprehensive capabilities earn the long-term trust of global customers, including Chery, Geely, SAIC, Toyota, Volkswagen, Volvo, etc., and have helped it rank 74th in the Automotive News 2024 top 100 global auto parts suppliers. For more information, please visit Desay SV online at www.desaysv.com or follow us on: https://www.linkedin.com/company/13690363

About Qualcomm

Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Our proven solutions drive transformation across major industries, and our Snapdragon® branded platforms power extraordinary consumer experiences. Building on our nearly 40-year leadership in setting industry standards and creating era-defining technology breakthroughs, we deliver leading edge AI, high-performance, low-power computing, and unrivaled connectivity. Together with our ecosystem collaborators, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress. 

Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patents are licensed by Qualcomm Incorporated.

Qualcomm, Snapdragon, Qualcomm Oryon, Hexagon and Adreno are trademarks or registered trademarks of Qualcomm Incorporated.

*All performance targets are compared to previous generation, based on preliminary internal testing, and subject to change upon final validation. 

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SOURCE Desay SV

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VerifiedX Releases VFX SwitchBlade Wallet Featuring First-Mover Bitcoin Utility at BitMart

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TORONTO, Jan. 10, 2025 /PRNewswire/ — The VerifiedX (VFX) Network, VerifiedX.io, has launched its mainnet non-custodial wallet VFX SwitchBlade, which enables full native Bitcoin functionality. The VFX SwitchBlade also supports a ‘first-mover’ fully decentralized and self custodial Bitcoin Tokenization (Verified Bitcoin) with on-chain native features, enabling real day-to-day utility, while solving current frictions for all Bitcoiners globally today. 

 

Verified Bitcoin (vBTC) enables anyone the ability to save, spend, withdraw, borrow, lend, mint & transfer media / documents, and vault actual Bitcoin with on-chain recovery features eliminating the need for third-parties or hardware wallets, through a feature rich simple text smart contract. This incredibly unique Bitcoin token provides for enhanced privacy with near-instant transaction finality, all with near-zero fees. Verified Bitcoin tokens are transferable in any denomination completely peer-to-peer, so long as they have a native Bitcoin balance and always maintain a fully decentralized and non-custodial evergreen 1:1 peg. This means that 1 vBTC will always equal 1 BTC and token owners may withdraw their underlying Bitcoin anytime with a ‘one-click’ multisig action or off-ramp the token itself, in whole or in part, at any participatory liquidity provider.

This empowering development will inevitably help provide congestion relief for the Bitcoin network, dramatically reduce Bitcoin holders cost of ownership and transfers, enable media embedding, and increase self-custodial security exponentially, adding immediate utility to holders of the largest digital asset class. It is anticipated that Verified Bitcoin may also help facilitate additional native scarcity with Total Value Vaulted (TVV) over time on VerifiedX Vaults.

VerifiedX – VFX (VerifiedX.IO) is the first open-source decentralized network that is both a universal layer 1 and a Bitcoin specific sidechain for the purpose of tokenized self-custody, on-chain storage, and peer-to-peer commerce of both digital & physical assets.

For Further Inquiries:
Website: https://verifiedx.io/
Discord: https://discord.gg/7cd5ebDQCj
Twitter (X)): https://twitter.com/vfxblockchain
Github: https://github.com/verifiedxblockchain

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SOURCE VerifiedX.io

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Ratehub Inc. launches a new personal loans marketplace powered by its LoanFinder tool

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Canadian financial technology company launches a personal loans marketplace, simplifying borrowing for Canadians and helping members manage debt better

TORONTO, Jan. 10, 2025 /CNW/ – Ratehub Inc., a leading Canadian financial technology company, has launched a new personal loans marketplace as part of its mission to empower Canadians with the tools and resources to make confident financial decisions.

This launch brings Ratehub closer to its vision of becoming Canada’s go-to source and one-stop shop for all personal finance products. With LoanFinder, Ratehub’s custom-built tool, members can easily explore and compare a range of loan options tailored to their unique needs. Members can quickly secure pre-approval for the best rates, saving both time and money—all within one easy-to-use platform.

“Our launch into personal loans is an important milestone towards achieving our vision of being the one-stop shop for all consumers’ financial needs – spend, save, borrow, invest, and protect,” said Naga Parvatharajan, CEO of Ratehub Inc. “LoanFinder, is a game-changer for Ratehub members. It uses our own data and credit bureau information to pre-approve you for the best loan offers, all without impacting your credit score. We’re thrilled to be working with Fig Financial and Spring Financial as our first partners to bring Canadians simpler borrowing options and help them manage debt better.”

Ratehub members will benefit from:

Comprehensive loan marketplace: Best pre-approved offers through LoanFinder matched to the lender, maximizing members’ approval odds without impacting their credit scoresSeamless digital experience: A fast, fully digital loan application process from the convenience of members’ homesFinancial education: Access to expert articles and resources to guide members on what to look for when selecting loansTransparency: Clear and unbiased information to help members make informed decisionsValue: Save money by refinancing credit card debt, reducing monthly payments, funding home improvement projects, or other needs

“In today’s challenging financial environment, it’s more important than ever to provide the tools and resources that help Canadians make confident decisions,” said Natasha Macmillan, Director of Everyday Banking at Ratehub.ca. “Our goal is to support every Ratehub member based on their financial needs and journey. Our launch of personal loans will allow members to navigate these products and empower them to make well-informed decisions.”

Currently offering comparisons for personal loans, Ratehub’s ultimate goal is to provide a complete range of loan types, with personalized recommendations that help members find the perfect match for their eligibility and financial situation. Ratehub is committed to helping Canadians find their best borrowing option based on their unique financial needs, and ultimately empowering them to manage debt better and take control of their financial future.

About Ratehub Inc.
Ratehub Inc. is the one-stop shop for all consumer finance needs – Save, Spend, Borrow, Invest and Protect. We connect Canadians to the best financial tools, advice, and products on the market through our financial product comparison site and mortgage brokerage, Ratehub.ca, mortgage lender, CanWise, insurance brokerage, RH Insurance, and personal finance website, MoneySense. Millions of Canadians visit Ratehub.ca and MoneySense every year to get personalized recommendations on the best mortgage rates, credit cards, savings accounts, GICs, and insurance products. To learn more, visit www.ratehub.ca or www.canwise.com or www.rhinsurance.ca or www.moneysense.ca.

SOURCE Ratehub Inc.

SOURCE Ratehub Inc.

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