Global Bio-based Polypropylene Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|生物為基礎聚丙烯的全球市場(2021年∼2028年) Global Bio-based Polypropylene Market - 2021-2028|
|出版日期: 2021年08月12日||內容資訊: 英文 180 Pages||
Global Bio-based Polypropylene (PP) Market Overview
The global Bio-based Polypropylene (PP) market size was worth US$ XX billion in 2020 and is estimated to record significant growth by reaching up to US$ XX billion by 2028, growing at a CAGR of XX% within the forecast period (2021-2028).
Bio-based polypropylene is a polymer manufactured from natural materials such as corn, sugar cane, vegetable oil, and other biomass. Bio-based polypropylene has qualities similar to synthetic polypropylene. Bio-based polypropylene is used in injection molding, textiles, film, and other applications. Furthermore, Automobiles, textiles, packaging, medical devices, and pipe systems are among the industries that employ bio-based propylene. Due to its good fatigue qualities, polypropylene is also utilized in living plastic hinges like those on flip-top bottles. The global bio-based polypropylene market has grown significantly in recent years, owing to various factors, including increased automobile product consumption, increased pressure on manufacturers to use bio-based materials, and stringent regulations in various regions such as North America, Europe and Asia-Pacific.
Bio-based Polypropylene (PP) Dynamics
The growing demand for lightweight vehicles in the automobile industry is triggering the demand for bio-based polypropylene (PP) products. Rising consumption of bioplastic in the packaging industry is expected to uplift the demand for bio-based polypropylene (PP) in the forecast period.
The growing demand for lightweight vehicles in the automobile industry is triggering the demand for bio-based polypropylene (PP) products
The demand for bio-based plastics is expected to be fueled by an increase in the use of lightweight materials in the automobile sector and an increase in automobile sales in developing nations such as India and China. The mentioned factor is expected to boost demand for bio-based polypropylene in injection molding parts for construction, electronics packaging, automotive, and industrial applications.
For instance, Braskem and Novozymes announced a research collaboration to create large-scale production of green PP from sugarcane. This resin has already been achieved on a laboratory scale (Braskem) and is 100 percent renewable. At the same time, Mazda is working on a bio-route for producing different PP and ethylene-propylene copolymers from cellulosic biomass.
The new bio-based materials are expected to eventually replace their petrochemical counterparts in automotive applications such as (i) bumpers and bumper spoilers, lateral siding, roof/boot spoilers, rocker panels, and body panels; (ii) dashboards and dashboard carriers, door pockets and panels, consoles; and (iii) heating ventilation air conditioning, air ducts, battery covers, splash shield and others
Rising consumption of bioplastic in the packaging industry is expected to uplift the demand for bio-based polypropylene (PP) in the forecast period
Growing demand of bio-based PP in packaging industry for packaging of products including beverages,and food. Films products from bio-based PP are used for covering products, and these materials also offer flexibility, sturdiness, and protection of the stored product from external factors. Furthermore, The growth of the packaging industry and a greater focus on sustainable packaging have boosted polymer demand, boosting this category over the forecast period. Biaxially orientated polypropylene (BOPP) is made from bio-based polypropylene extruded and stretched to achieve increased strength and clarity. It can also make the coating, printing, and laminating processes considerably easier. Moreover, Mitsui chemical used a new production technique to commercial bio-PP involving fermentation of various biomass, mainly non-edible plants, to produce isopropanol(IPA).
Growing market players across the globe and increasing collaborations among them build opportunities for the future market
Companies in the bio-based PP market are collaborating with various organizations to speed up and improve the development of the product and other similar polymers due to the increased demand for polymers produced from organic sources. For instance, Neste partnered with Ikea in 2018 to begin commercial production of bio-based polypropylene. The project's goal is to help Ikea replace all plastics in its products with renewable resources by 2030.
Furthermore, in June 2019, Neste teamed up with LyondellBasell to test the first commercial-scale simultaneous synthesis of bio-PP and bio-polyethylene in Germany. These organizations' significant position in creating biodegradable polymer production methods is promoting the development of a circular plastic economy, which also benefits the industry.
COVID-19 Impact Analysis
The global Bio-based Polypropylene (PP) market has shown a significant decline due to the COVID-19 pandemic, as many manufacturing facilities were shut down for months during the 2019-2020 period. Further several countries have restricted production activities in different industries during the covid-19 pandemic. Due to the COVID-19 outbreak, the major lockdown leads to the sudden shutdown of various industries such as automotive, construction, and consumer goods across the globe, leading to a drop in the demand for Bio-based Polypropylene (PP)s during the 2019-2020 period. Furthermore, a halt in transportation sectors has severely hampered the Bio-based Polypropylene (PP) market business due to disruption in the product's supply chain management.
Bio-based Polypropylene (PP) Market Segment Analysis
The global Bio-based Polypropylene (PP) market is bifurcated based on type, application, and region.
Increased usage of light-weight materials in the vehicle industry raising demand for injection products is driving the market share for the segment
The global bio-based polypropylene (PP) market based on end-users is bifurcated into injections, films, textiles, and others. Injection application holds the dominating market share in the forecast period as bio-based polypropylene (PP) aids in producing injection-formed parts for construction, automotive, packaging, industrial, and electrical uses. Increased usage of light-weight materials in the vehicle industry would raise demand for injection products. In addition, countries such as Malaysia, China, Brazil, Mexico, and Thailand see increases in the automotive sector, which positively impacts the size of the biobased polypropylene market. Product demand should also be driven by rising green packaging demand for medical and food and beverage applications.
Furthermore, due to the transparency and robustness, biobased polypropylene film is stretched and extruded to make BOPP, which is used in the packaging of fresh vegetables, snack foods, and confectioneries. By 2022, demand for biobased polypropylene from textile applications is expected to exceed 1.5-kilo tonnes. Due to its expanding scope in drainage and soil erosion applications, Biobased PP market demand is expected to be driven by growing geotextile demand.
Bio-based Polypropylene (PP) Market Geographical Analysis
The European bio-based polypropylene market is expected to dominate throughout the forecast period due to increased product consumption in the automotive end-use industry
The European bio-based polypropylene market is expected to dominate throughout the forecast period due to increased product consumption in the automotive end-use industry. Furthermore, due to advantageous legislation reducing vehicular carbon emissions, this region is expected to grow its automotive usage. Furthermore, increased automobile manufacturing in countries such as Germany, France, and Spain is likely to promote the European bio-based polypropylene market during the forecast period. Because of the product's use in aerospace applications, the bio-based polypropylene market in North America is expected to grow at the quickest rate.
Bio-based Polypropylene (PP) Market Competitive Landscape
The Bio-based Polypropylene (PP) Market is highly competitive with the presence of local as well as global companies. Some prime companies contributing to the market's growth include The Dow Chemical, Washington Penn Plastic Co., Inc., FKuR Kunststoff GmbH, LyondellBasell Industries Holdings, Braskem, Solvay S.A., Biobent Polymers, Exxon Mobil Corporation,China Petrochemical Corporation, INEOS, SABIC, Mitsui Chemicals and Global Bioenergies and among others. The major companies are adopting several growth strategies such as acquisitions, product launches, and collaborations, contributing to the growth of the Bio-based Polypropylene (PP) market globally.
Overview: Braskem is the growing manufacturer of thermoplastic resins. The corporation manufactures about 16 million tonnes of thermoplastic resins and other petrochemicals from 41 industrial units in Germany, Brazil, the United States, and Mexico. Braskem is the world's largest manufacturer of biopolymers, with a capacity of 200 kton of polyethylene manufactured from sugarcane ethanol every year.
The global bio-based polypropylene (PP) market report would provide approximately 53 market data tables, 43 figures, and 210 pages.
Target Audience 2022
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