Global Bio-based Polypropylene (PP) Market is expected to reach USD 36.19
million by 2020; according to a new study by Grand View Research, Inc.
Supportive regulatory and political landscape to promote bioplastics coupled
with growing demand for lightweight materials in automotive applications is
expected to augment biobased PP market growth. Increasing application scope in
textile, packaging and construction is also expected to have a positive impact
on market growth.
Biobased PP was majorly used in injection applications, accounting for
over 50% of market volume in 2013. Primary uses include injection molded parts,
aiming for automotive, construction, packaging, electronics, and industrial
applications. In addition, application growth of injection molded plastics in
packaging would have a significant impact.
In depth research report
on Bio-based Polypropylene (PP) Market
Further key findings from
the study suggest:
•
Global biobased PP market demand was 11.22 kilo tons in 2013 and is
expected to reach 16.03 kilo tons by 2020, growing at a CAGR of 5.8% from 2014
to 2020.
•
Biobased PP could be stretched and extruded to form BOPP (Biaxially
Oriented Polypropylene) films, which could be used as a sustainable packaging
material meant for use in snack foods, confectioneries and fresh vegetables.
•
Europe is expected to be the largest regional biobased PP market,
exceeding 30% of total demand in 2013. Positive regulatory framework for bioplastics
in Europe is expected to have a positive impact on market in the near future.
•
North America is expected to be one of the promising markets for biobased
PP, and is expected to witness growth in light of regulatory sanctions for
automotive weight coupled with positive demand outlook in U.S. and Mexico.
•
The biobased PP market is at a nascent stage of development with key
companies focusing their efforts on raw material and application development.
Trellis Earth Products, through the acquisition of Cereplast in 2014, is the
single manufacturer to commercially produce biobased PP. Other companies such
as Global Bioenergies, Braskem and Dow Chemicals are expected to be key market
players over the next six years. French company Global Bioenergies started the
production of biobased propylene through direct fermentation in December 2014.
For the purpose of this study, Grand View Research has segmented the
global biobased PP market on the basis of application and region:
Biobased PP Application
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2009 - 2020)
•
Injection
•
Textile
•
Films
•
Others
Biobased PP Regional
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2009 - 2020)
•
North America
•
Europe
•
Asia Pacific
•
RoW
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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