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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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Transparency Market Research Inc.
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AI-Powered Earbuds Transforming North American Smart Offices: Exclusive Insights from viaim CPO at CES 2025

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LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — At CES 2025 in Las Vegas, Liu Da, Chief Product Officer (CPO) of viaim, an AI technology hardware company deeply rooted in the smart office sector, gave an exclusive interview, sharing valuable insights into viaim’s exploration of the field of AI-powered earbuds, its innovative product concepts, and how the technology addresses common workplace challenges in North America. Mr. Liu also delved into the market potential of AI-powered earbuds and viaim’s strategic blueprint for shaping the future of smart offices, especially in the North American market.

North American business professionals have widely embraced remote and hybrid work models. The rise of multilingual communication has fostered a highly digitalized consumer landscape with diverse user needs, particularly for smart office solutions. In response, viaim is dedicated to developing practical AI solutions that alleviate repetitive and tiring office tasks. By addressing the evolving demands of North American professionals with its AI-driven innovations, viaim is advancing its global mission to transform work efficiency and productivity.

Unique advantages of AI-powered smart earbuds

In the interview, Mr. Liu said earbuds, being close to the user’s senses, are seamlessly integrated into daily life and serve as an ideal platform for AI technology. Unlike traditional office hardware, AI-powered earbuds are portable and versatile, fitting various scenarios such as remote meetings, commuting, and entertainment. He highlighted that viaim’s AI-powered smart office solutions position the Company to bridge the gap between people and devices, transforming earbuds from simple audio tools into smart office partners. 

viaim’s technology and design challenges during the R&D  phase

Mr. Liu detailed the challenges the Company faced during the R&D phase, including integrating AI computing power, storage, and sensors into earbuds with limited space while maintaining portability and battery life. He also highlighted the difficulty of balancing human auditory sensitivity with machine signal processing to ensure a natural user experience. To tackle these challenges, viaim employed multi-terminal collaboration, integrating earbuds, apps, and cloud services to ensure seamless voice processing and secure data management tailored to the needs of North American professionals.

Market potential, insights, and positioning in North America

A report from Upwork, the world’s largest work marketplace, projects 36.2 million Americans will work remotely in 2025, marking an 87% increase from pre-pandemic levels. AI-powered earbuds, with capabilities including meeting recording and follow-up task management, cater to the digitalized and multilingual North American market. As remote and hybrid work rises, AI earbuds are becoming vital for workplace efficiency and language learning. viaim stands out with a competitive strategy focused on technological innovation and market segmentation, offering unique value beyond traditional earbud brands.

Future strategy and product vision

Mr. Liu believes technology’s true value lies in solving real-world problems. “When users actively engage with our AI solutions, it demonstrates their true value,” he stated. AI earbuds remain the Company’s core focus, empowering professionals to shift their attention from routine tasks to meaningful creative endeavors. Looking ahead, viaim plans to expand its product lineup to include smart glasses and office accessories, creating a comprehensive AI office ecosystem. The Company aims to rapidly iterate based on user feedback, expanding AI earbuds from niche to mass markets and advancing industry development.

Media Contact: 

Qian Wang
+86-15321782927
wangqian@vision-intelligence.tech

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Steller Unveils Group Trip Planning

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KIRKLAND, Wash., Jan. 10, 2025 /PRNewswire/ — Steller, a video-based, travel planning platform that allows travelers to discover, connect and book based on experiences shared by creators, introduced its most requested feature yet: group trip collaboration. The feature transforms how travelers plan group trips by consolidating everything—discovery, communication, organized planning, and booking—into one platform. 

Steller launches group trip planning, streamlining discovery, communication, and booking into one collaborative platform.

Traditional Trip planning involves multiple surfaces and when traveling with others, multiple communication channels. It is difficult to stay organized when communication is spread across text messages, social DMs, email, etc.  

Steller’s new collaboration feature eliminates communication chaos and streamlines trip planning by offering a central group hub for organizing every piece of the process. Travelers can invite others to join their Trip itinerary, keeping communication, discovery, and booking in one place. With Steller’s library of more than 30 million pieces of user generated travel content, groups can share videos of activities, dining spots, attractions, add notes, and co-create custom itineraries. Flexible itinerary views—list, map, and video—give everyone a complete picture of the plan to share and edit with their travel companions.

“Collaborative trip planning has been a top request from our community.  When we launched Trips by Steller   last January, we knew it would resonate, but the response has far exceeded expectations. In a short time, over 50,000 users have planned and booked trips by incorporating their favorite user-generated travel videos into personalized itineraries. For our destination clients,  Trips by Steller has seamlessly connected travel influencer marketing to planning and commerce. Steller clients see more than 18% of viewers who engage with their influencer campaigns planning trips to their destination—a result that sets a high bar in the travel industry. Adding collaboration to the mix amplifies that impact, inspiring more people to explore, engage and transact together!” said Pete Bryant, CEO of Steller. 

How It Works  

Whether it’s a getaway for two or a large group adventure, collaboration makes organizing travel plans easy with an all-in-one solution. 

Build Your Itinerary Together: Group members can contribute by adding things to do, activities, and notes.Stay Organized: Add notes and structure by day, activity, or group to eliminate confusion.Flexible Views: View your itinerary as a detailed list, on a map, or through video for a fully customizable planning experience.Real-Time Updates: Keep track of changes, additions, and edits made by group members.On-the-Go Access: Everyone can access the itinerary on their phone.

Steller continues to lead the charge in innovative travel planning, ensuring that its platform evolves based on user feedback. Collaborative trip planning is the latest step in its mission to evolve travel. 

About Steller 

Steller, headquartered in Kirkland, Wash., is the market leading travel planning platform that guides travelers from inspiration to planning and booking through authentic experiences of their favorite creators. Steller’s patent pending platform distributes millions of pieces of bespoke, worldwide video content that can be found and booked on the Steller app. Learn more at www.steller.co  and  stellerforbusiness.com

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RAAPID Raises Series A from M12, Microsoft’s Venture Fund to Scale Next-Generation Healthcare Risk Adjustment

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Company reports 300% revenue growth in 2024 and advances partnerships with nation’s leading health systems

LOUISVILLE, Ky., Jan. 10, 2025 /PRNewswire/ — RAAPID, the industry-leading healthcare AI company, announced today a significant Series A investment from M12, Microsoft’s venture fund. This strategic funding positions RAAPID to expand its groundbreaking Neuro-symbolic AI platform that is reshaping healthcare risk adjustment.

RAAPID’s explosive growth – marked by a 300% revenue increase in 2024 – demonstrates the market’s strong validation of its advanced technology platform. The company has quickly established itself as a trusted partner for major health plans and provider., At the core of RAAPID’s success is its pioneering VisionAI technology, which tackles one of healthcare’s most pressing challenges: making sense of unstructured medical data. While over 70% of medical records exist as unstructured data when shared outside EHRs, RAAPID’s AI engine transforms this complex information into actionable insights, enabling unprecedented accuracy in risk capture and care gap identification.

“Our vision extends beyond traditional risk adjustment,” states Chetan Parikh, Founder and CEO of RAAPID. “We’re creating a future where AI augments healthcare professionals’ capabilities, leading to better patient outcomes and more accurate appropriate reimbursements. This investment from M12 accelerates our mission to transform healthcare through advanced AI.”

RAAPID’s purpose-built Risk Adjustment platform has achieved remarkable results:

Slashing chart review time by 60-80%Surpassing industry standards with 95%+ coding accuracyGenerating additional appropriate and compliant revenue per memberImproving risk capture accuracy by 25%

The HITRUST-certified platform stands out for its unique Neuro-symbolic AI approach, combining neural networks with an extensive medical knowledge graph containing over 4 million clinical entities and 50 million relationships. This sophisticated technology enables both retrospective analysis and prospective risk adjustment, helping organizations identify and address care gaps to positively impact patient health.

“Healthcare organizations are increasingly seeking innovative solutions to manage risk and improve care delivery in value-based arrangements,” said Todd Graham, Managing Partner at M12. “RAAPID’s AI-driven risk adjustment platform aligns perfectly with our investment strategy. Through M12, we are committed to providing our portfolio companies with access to Microsoft’s resources and expertise to drive significant impact in the healthcare sector.

Led by a team with over 25 years of healthcare technology expertise, RAAPID has collaborated with experts from the top 4 tech giants in developing its clinical AI solutions. RAAPID continues to push the safe boundaries of what’s possible in healthcare AI. The company’s selection as an M12 portfolio company validates its position as a leader in healthcare technology innovation.

As value-based care becomes increasingly important, RAAPID’s AI-powered solutions are becoming essential tools for healthcare organizations striving to improve timeliness and quality of care all patients expect. With this new funding, RAAPID is poised to further advance its technology and expand its positive impact on patients, providers and payers.

About RAAPID
RAAPID develops AI-powered solutions for healthcare payers, providers, and supporting organizations. The company’s cloud-based risk adjustment platform uses neuro-symbolic AI to identify chronic conditions, determine HCC codes, calculate risk scores, and analyze population health trends. RAAPID serves organizations that participate in Medicare Advantage, ACA, Medicare ACO, and Medicaid programs.

For more information about RAAPID’s AI-powered risk adjustment solutions, visit www.raapidinc.com

CONTACT:
Mayur Vyas
(502) 699-3044
388583@email4pr.com

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