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Biobased Polypropylene (PP) Market Set for Rapid Growth and Trend by 2022
MarketStudyReport.com adds a new Biobased Polypropylene (PP) Market research report that provides a detailed market overview as well as industry analysis for / of companies, manufacturers and distributors covering data on gross margin, cost structure, consumption value, sale price and more.Growing light weight plastic demand to improve automobile fuel efficiency and thereby decreasing overall weight should drive industry growth. Government regulation towards usage of lightweight material in vehicles to reduce fuel consumption should drive biobased PP market size. It is also used in medical technology, wind turbines and pressure vessels application, which will further stimulate product demand.
Biobased polypropylene (PP) Market size is set to exceed USD 40 million by 2022; as per a new research report.
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Strict government regulations by EU and EPA to reduce carbon footprints in the atmosphere should boost bio PP market size. PLA & bio PET is used as substitute product along with shale gas production from hydraulic fracturing can hinder industry growth.
Bio PP market size from injection applications should register highest gains to register above USD 20 million at the end of forecast period. Increasing usage of injection molded parts in packaging, automotive, electronics, and construction applications may fuel product demand.
Europe bio PP market size, led by increasing product adoption in Germany, UK, and France, should register over 6% gains by 2022. Favorable government initiatives driving bioplastics market and presence of automobile sectors should drive regional industry growth.
Asia Pacific, led by Japan, India and China bio PP market size, from textile applications should witness significant gains at over 5%. Rapid industrialization in China and India should stimulate regional growth.
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Growth in geotextiles demand owing to increasing applications scope in soil erosion & drainage applications should favor demand. North America, driven by U.S. bio PP market size, may witness significant gains. Favorable regulations by EPA along with rising biodegradable polymers demand should drive industry growth.
Bio PP market size from film applications should witness significant gains at over 6%. It is used in vegetable, confectionery, and snack foods packaging due to its strength and transparency properties. Increasing consumer awareness towards green packaging solutions for food & beverages and medical industry should drive biobased polypropylene market size from films applications.
Global bio PP market is presently at the initial development stage, with companies concentrating on raw material procurement to reduce production cost. Companies operating in this domain are Dow Chemicals, Biobent Polymers, Braskem, Global Bioenergies, and Trellis Earth.
Recently, FkuR Kunstsoff GmbH launched partially biobased polypropylene compound to be used in injection molding applications under the brand name Terralene PP 2509. The product has a renewable content of around 35%.
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