A recent report published by Infinium Global Research on bio-based polypropylene market provides in-depth analysis of segments and sub-segments in global as well as regional bio-based polypropylene market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional bio-based polypropylene market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global bio-based polypropylene market. According to the report, the global bio-based polypropylene market is projected to grow at a CAGR of 5.3% over the forecast period of 2018-2024.
Bio-based polypropylene is a thermoplastic polymer made from the renewable raw material. The feedstock for bio-polypropylene is sugar cane stalks and leaves. This green resin has the same properties and characteristics as standard PP. Bio-polypropylene is tough and flexible, being able to withstand impacts well makes it ideal for packaging material. It is produced by enzymatic fermentation of sugar cane that produces ethanol that is then processed to obtain bio-polypropylene. The bio-based polypropylene finds its application in the packaging industry, textiles, bottles, Rubik’s cube stickers, and even polymer banknotes.
Conventional polypropylene is made from petroleum in a process that results in large amounts of greenhouse gases. However, bio-based polypropylene is developed from synthesis from sugar cane. The use of sugar cane has extensive environmental benefits. By reducing petroleum use, environmental damage is minimized. Furthermore, sugarcane sequesters a large amount of CO2 during growth. A net reduction of CO2 can be achieved by the use of sugar cane for the production of bio-polyethylene. Over 1.5 billion pounds of CO2 per year is consumed by the process.
The rising demand for degradable and light-weight bio-based materials in packaging and automobile industry are the major drivers for the growth of bio-based polypropylene. The need to reduce the weight of vehicles will drive the growth of bio-polypropylene in the automotive industry. Furthermore, several companies are adopting bio-based raw materials instead of fossil-based raw materials for the production of biodegradable plastic products to reduce the emission of greenhouse gases that will propel the growth of bio-based polypropylene market. However, the use of sugarcane and vegetable crops creates pressure on the food supply and the presence of cost-effective synthetic polymers hinders the growth of bio-based polypropylene. Moreover, the rise in technological innovations in the field of biotechnology and bio-based products for reducing the dependence on fossil raw materials will create an opportunity for the growth of bio-based polypropylene.
Geographically, North America region holds the dominant position in the bio-based propylene market owing to the growth of the automobile industry in this region. Europe is a leading market owing to an increase in regulations to control non-degradable plastic usage. Asia-Pacific is the fastest growing market and is expected to dominate the bio-based propylene market owing to the rise in the automotive industry in this region. The need to reduce the weight of vehicles will drive the growth of bio-polypropylene in Asia-Pacific region.
The report on global bio-based polypropylene market covers segments such as application, and products. On the basis of application, the global bio-based polypropylene market is categorized into electrical and electronics, healthcare, textile, building and construction, and industrial and household. On the basis of products, the global bio-based polypropylene market is categorized into auto and commercial vehicle parts, industrial packaging, sheets, panels and films, durable goods, injections, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the bio-based polypropylene market. As a result, the APAC region is projected to experience a growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global bio-based polypropylene market such as Braskem S.A., Biobent Polymers, Dow Chemicals, Global Bioenergies, Trellis Earth Products, Inc., and FKuR Kunststoff GmbH.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global bio-based polypropylene market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of bio-based polypropylene market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the bio-based polypropylene market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the bio-based polypropylene market to understand the present and future trends in this market and formulate their strategies accordingly.
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