Growing demand for lightweight materials in automotives coupled with regulatory support for bioplastics bioplastics is expected to drive biobased PP market.
San Francisco, California (PRWEB) January 23, 2015
The global Bio-based PP market will reach USD 36.19 million by 2020, according to a new study by Grand View Research, Inc. Supportive regulatory and political landscape to promote bio-plastics, coupled with growing demand for lightweight materials in automotive applications will augment bio-based PP market growth. Increasing application scope in textile, packaging and construction industries will have a positive impact on market growth.
Browse full research report on Global Bio-based Polypropylene (PP) Market at http://www.grandviewresearch.com/industry-analysis/bio-based-polypropylene
Bio-based 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 impact favorably.
Further key findings from the study suggest:
- Global bio-based PP market demand was 11.22 kilotons in 2013 and will reach 16.03 kilotons by 2020, growing at a CAGR of 5.8% from 2014 to 2020.
- Bio-based 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, confectionaries and fresh vegetables.
- Europe will be the largest regional bio-based PP market, exceeding 30% of total demand in 2013. The positive regulatory framework for bio-plastics in Europe will have a positive impact on the market in the near future.
- North America will be one of the most promising markets for bio-based PP, and will witness growth in light of regulatory sanctions for automotive weight coupled with positive demand outlook in the U.S. and Mexico.
- The bio-based PP market is at a nascent stage of development with key companies focusing their efforts on raw material and application development. Trellis Earth Products, after acquiring Cereplast in 2014, is the single manufacturer to commercially produce bio-based PP. Other companies such as Global Bioenergies, Braskem and Dow Chemicals will be key market players over the next six years. French company Global Bioenergies started producing bio-based propylene through direct fermentation in December 2014.
Get more information on Bio-based Polypropylene (PP) Market at http://www.grandviewresearch.com/industry-analysis/bio-based-polypropylene
For the purpose of this study, Grand View Research has segmented the global bio-based PP market on the basis of application and region:
Bio-based PP Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2009 - 2020)
Bio-based PP Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2009 - 2020)
- North America
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, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519
Web: Grand View Research