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.
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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.
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)
Biobased PP Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2009 - 2020)
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