Biobased Polypropylene Market to Record Sturdy Growth by 2026
Posted by omkar on May 6th, 2019
Polypropylene, also termed as polypropene, is a type of thermoplastic polymer resin. It can be employed in a wide range of applications such as textiles, labeling and packaging, plastics, stationary, and laboratories. Biobased polypropylene has features similar to synthetic polypropylene. However, it is manufactured from biobased raw materials such as corn, sugarcane, and beet.
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The global biobased polypropylene market can be segmented based on manufacturing process, application, and region. In terms of manufacturing process, the market can be bifurcated into fermentation and gasification. Among these, fermentation is the leading segment. The ethanol derived biobased polypropylene is witnessed for the significant growth during the forecast period due to their highly acceptance from the market. In terms of application, the biobased polypropylene market can be divided into injection, textile, films, food packaging industry, and others. Among these applications, the growing demand for biobased polypropylene in food & packaging industry, and in the films witnessed from the strong growth during the forecast period. Additionally, the rise in trend of using lightweight film in automotive industry propel the application demand during the forecast period. Biobased polypropylene is widely used in packaging of food products such as vegetables, meat, and confectionery products.
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Demand for biobased polypropylene has been increasing due to rise in its consumption in various industries. Additionally, factors such as growing need for reducing GHG emission and rising demand for bio-derived products due to environment concerns are projected to propel the demand for biobased polypropylene during the forecast period. Moreover, growing initiatives to minimize carbon emissions and increasing investments in R&D activities to develop biobased polypropylene are anticipated to fuel the market in the next few years. However, significant availability of substitute products including polylactic acid and biobased PET is estimated to restrain the market in the next few years. Furthermore, increasing demand for sugarcane, soya, and corn from the food & beverages industry impacts the availability of raw materials required in the manufacture of biobased polypropylene. This may hamper the market during the forecast period.
Global Biobased Polypropylene Market: Regional Outlook
Based on region, the global biobased polypropylene market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is a major region of the global biobased polypropylene market, as the U.S. EPA has imposed regulations on the adoption of biobased polypropylene. This, in turn, is propelling the demand for biobased polypropylene in the region. The Europe market is anticipated to expand at a rapid pace during the forecast period, followed by North America. The supportive regulatory frameworks from the Europe government towards adopting biobased polypropylene propel the Europe market growth. The biobased polypropylene market in Middle East & Africa and Latin America is projected to expand at a moderate pace in the near future, due to presence of developing economies in these regions.
Key players operating in the global biobased polypropylene market are Biobent Polymers, Trellis Earth Products, Inc., Braskem S.A., The Dow Chemical Company, Global Bioenergies SA, Braskem, SABIC, LyondellBasell Industries, China Petrochemical Corporation, Washington Penn Plastic Co., Inc., Chevron Phillips Chemical Company, BASF, Japan Polypropylene Corporation, Fulton Companies, Qatar Petrochemical Company Q.S.C.
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About the Authoromkar
Joined: April 19th, 2019
Articles Posted: 70
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