Synthetic and Bio-Based Polypropylene Market - By Application (Textile, Injection Molding, Film Applications, and Others), By End User (Packaging, Consumer Goods, Furniture, Automotive, Electronics, Medical Equipment, and Others), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Global Synthetic and Bio-Based Polypropylene market, which accrued revenue worth 32.1 (USD Million) in 2019 and anticipated to garner earnings about 53.2 (USD Million) by 2026, is set to grow at a CAGR of nearly 7.5% during the period from 2020 to 2026.

13-Oct-2020 | Number of pages: 110 | Report Code: ZMR-88 | Report Format : | Status : Published

Abstract

The global Synthetic and Bio-Based Polypropylene market, which accrued revenue worth 32.1 (USD Million) in 2019 and anticipated to garner earnings about 53.2 (USD Million) by 2026, is set to grow at a CAGR of nearly 7.5% during the period from 2020 to 2026. The report offers valuation and analysis of the Synthetic and Bio-Based Polypropylene market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on value (USD Million).

Introduction

Polypropylene is a kind of thermoplastic polymer resin that was discovered by both German chemist named Karl Rehn and Italian Chemist named Montecatini in 1950s. The composite is utilized in slew of applications like stationery, fabrics, laboratory device, labeling & packaging, and plastics. The key characteristics of the polypropylene like lightweightedness and high melting point has made it more useful in food & beverage containers that need resistance to extreme temperatures. Apart from this, the compound can be produced in three different forms such as Atactic, isotactic, and syndiotactic.

Market Growth Dynamics

With spectrum of product applications in plastics, paper, carpeting, medical equipment, and reusable items sector, the synthetic and bio-based polypropylene market is likely to gain traction over the forecasting timespan. Favorable features like chemical inertness and superlative physical features will expedite the business growth in the forthcoming years. Growing consumer preference towards bio-based products along with favorable government schemes is likely to prompt the expansion of synthetic and bio-based polypropylene industry over the estimated timeline. Nonetheless, huge operating costs and strict laws governing the use of plastics along with preference for substitute products will retard the market expansion over the forecast timeframe.

Furthermore, escalating demand for light-weight vehicles to increase the fuel efficiency will accentuate the growth of the industry during the assessment period. In addition to this, massive use of thermoplastics in automotive and construction sectors will create new horizons of growth for the market in the ensuing years.

Asia Pacific Market To Exhibit Remarkable Growth During 2020-2026

The business in the region is likely to flourish and is touted to demonstrate an awesome growth during the forecast timespan. The growth of the industry in the region can be credited to favorable government schemes promoting expansion of strong infrastructure along with rapid urbanization. In addition to this, rising product penetration in automotive and construction sectors in the countries like India and China will further embellish the regional market trends. Moreover, presence of key participants in the industry will proliferate the regional market size in the years to come.

Key players profiled in the report and influencing the growth of the market are Qatar Petrochemical Company, Bayer Material Science, Washington Penn Plastic Company, Inc., Japan Polypropylene Corporation, Braskem, Reliance Industries Ltd., ExxonMobil, LyondellBasell Industries, Sinopec, DuPont, PetroChina Company Ltd, SABIC, INEOS, Chevron Phillips Chemical Company, BASF SE, and Fulton Pacific.

The global Synthetic and Bio-Based Polypropylene market is segmented as follows:

By End User

  • Packaging
  • Consumer Goods
  • Furniture
  • Automotive
  • Electronics
  • Medical Equipment
  • Others

By Applications

  • Textile
  • Injection Molding
  • Film Applications
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

With spectrum of product applications in plastics, paper, carpeting, medical equipment, and reusable items sector, the synthetic and bio-based polypropylene market is likely to gain traction over the forecasting timespan. Favorable features like chemical inertness and superlative physical features will expedite the business growth in the forthcoming years. Growing consumer preference towards bio-based products along with favorable government schemes is likely to prompt the expansion of synthetic and bio-based polypropylene industry over the estimated timeline.

According to Zion Market Research report, the global Synthetic and Bio-Based Polypropylene market, which accrued revenue worth 32.1 (USD Million) in 2019 and anticipated to garner earnings about 53.2 (USD Million) by 2026, is set to grow at a CAGR of nearly 7.5% during the period from 2020 to 2026.

Asia Pacific is likely to make noteworthy contributions towards overall market revenue. The growth of the industry in the sub-continent over the estimated timespan is due to favorable government schemes promoting expansion of strong infrastructure along with rapid urbanization. In addition to this, rising product penetration in automotive and construction sectors in the countries like India and China will further embellish the regional market trends. Moreover, presence of key participants in the industry will proliferate the regional market size in the years to come.

The key players profiled in the report include Qatar Petrochemical Company, Bayer Material Science, Washington Penn Plastic Company, Inc., Japan Polypropylene Corporation, Braskem, Reliance Industries Ltd., ExxonMobil, LyondellBasell Industries, Sinopec, DuPont, PetroChina Company Ltd, SABIC, INEOS, Chevron Phillips Chemical Company, BASF SE, and Fulton Pacific. With new players entering the business, the market is likely to be highly competitive and hence the existing players are focusing on product innovations keeping the cost of product reasonable with a view to attain desired profits.


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