The latest report by IMARC Group, titled “Bio-Polypropylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global bio-polypropylene market reached a value of US$ 39 Million in 2020. Bio-polypropylene is a thermoplastic polymer obtained from natural materials such as corn, sugarcane, vegetable oil, and other bio-masses. It has a melting point of approximately 165°C, making it eligible for use in certain plastic items, including medical products and dishwasher-safe containers. Bio-polypropylene, like synthetic polypropylene, is used in injection molding, film, and other applications. It offers advantages of strength, durability, resistance to heat and stiffness, and is environment friendly in nature. As a result, it finds application across several industries, such as automobile, textile, film, packaging, medical devices, and pipe systems.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Bio-Polypropylene Market Trends:
The market is primarily driven by the significant expansion of the automobile industry. Besides this, the increasing adoption of specialty polymers to improve the downsizing of vehicles is propelling the demand for bio-polypropylene. For instance, General Motors is utilizing bio-polypropylene in their Cadillac DeVille for seatbacks as well as in Chevrolet Impala for trims and shelvings. In addition to this, the rising consciousness regarding the carbon emissions from vehicles is also increasing the adoption of bio-polypropylene in the automotive sector. Furthermore, bio-polypropylene can be stretched and extruded from biaxially oriented polypropylene films used in sustainable packaging of snack food, confectioneries, and fresh vegetable. As a result, several regulatory initiatives promoting the use of bioplastics are fueling the market growth. Moreover, widespread adoption of injection moldings in the aerospace, construction, and healthcare industries are positively influencing the growth of the market. Looking forward, the market is expected to grow at a CAGR of around 7.2% during the forecast period (2021-2026).
- Based on the application, the market has been segmented into injection molding, textiles, films, and others. Currently, injection molding represents the leading application.
- Region-wise, the market has been divided into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, Europe holds the leading position in the market, accounting for the majority of the global market share.
- The competitive landscape of the market has been examined, with some of the key players being Braskem S.A., Biobent Management Services, Inc., The Dow Chemical Company, Global Bioenergies, Trellis Earth Products, Inc., Japan Polypropylene Corporation, Reliance Industries Limited, LyondellBasell Industries Holdings N.V., Exxon Mobil Corporation, and Ineos AG.
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