Synthetic and Bio-Based Polypropylene Market Size, Share, Growth Report 2030

Synthetic and Bio-Based Polypropylene Market

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

Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-88 Published Date: Oct-2020 Status : Published

The global Synthetic and Bio-Based Polypropylene market, which accrued revenue worth 32.1 (USD Million) in 2019 and is anticipated to garner earnings of 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. 

Synthetic and Bio-Based Polypropylene Market

Synthetic and Bio-Based Polypropylene Market Size Overview

According to Zion Market Research, the global Synthetic and Bio-Based Polypropylene market size, which generated $32.1 (USD Million) in revenue in 2019 and is projected to generate $53.2 (USD Million) by 2026, is projected to expand at a CAGR of roughly 7.5% over the period from 2020 to 2026. The report offers a 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).

Synthetic and Bio-Based Polypropylene Market SizeRequest Free Sample

Synthetic and Bio-Based Polypropylene Market- Introduction

Polypropylene is a kind of thermoplastic polymer resin that was discovered by both a German chemist named Karl Rehn and an Italian Chemist named Montecatini in the 1950s. The composite is utilized in a slew of applications like stationery, fabrics, laboratory device, labeling & packaging, and plastics. The key characteristics of polypropylene like a lightweight dress and its high melting point have 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 Atactic, isotactic, and syndiotactic.

Polypropylene is a type of plastic widely used in a variety of industries due to its strength, durability, and chemical resistance. Polypropylene was traditionally derived from fossil fuels, but there are now two alternative production methods: synthetic and bio-based. Synthetic polypropylene is produced through the polymerization of propylene, a chemical compound derived from petroleum. This procedure involves the combination of multiple propylene molecules to form long chains of polypropylene molecules, which constitute the plastic material.

Bio-based polypropylene, on the other hand, is derived from renewable resources, such as corn, sugarcane, and soybeans. Using specialized bacteria or enzymes, plant sugars are converted into propylene, and then the propylene molecules are polymerized to create bio-based polypropylene.

Both synthetic polypropylene and bio-based polypropylene have their benefits and drawbacks. Synthetic polypropylene is more accessible and less expensive to produce, but it is nonrenewable and contributes to the depletion of fossil fuels. Bio-based polypropylene, on the other hand, is renewable and reduces reliance on fossil fuels; however, it is more expensive to produce and still faces technical challenges in terms of processing and performance when compared to traditional synthetic polypropylene.

Synthetic and Bio-Based Polypropylene Market- Growth Dynamics

With a 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 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 the synthetic and bio-based polypropylene industry over the estimated timeline. Nonetheless, huge operating costs and strict laws governing the use of plastics along with the preference for substitute products will retard the market expansion over the forecast timeframe.

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

Report Scope:

 

Asia Pacific Market To Exhibit Remarkable Growth During 2020-2026

During the period between 2020 and 2026, the market for synthetic and bio-based polypropylene in Asia-Pacific is projected to expand significantly. Increasing demand for polypropylene in various end-use industries, rising awareness about sustainable and eco-friendly materials, and government initiatives promoting the use of bio-based materials all contribute to the growth.

The business in the region is likely to flourish and is touted to demonstrate awesome growth during the forecast timespan. The growth of the industry in the region can be credited to favorable government schemes promoting the 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, the presence of key participants in the industry will proliferate the regional market size in the years to come.

One of the largest end-users of polypropylene in the Asia-Pacific region is the packaging industry. With the expansion of e-commerce and the rising demand for packaged foods and beverages, the demand for polypropylene in packaging applications is anticipated to rise. In addition, the growing use of polypropylene in the automotive industry for interior and exterior components is anticipated to fuel market expansion. The use of bio-based polypropylene is also anticipated to contribute to regional market expansion. Several Asia-Pacific nations, including Japan, China, and India, have implemented policies and regulations encouraging the use of bio-based materials to reduce carbon footprint and promote sustainability.

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 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

Table Of Content

Methodology

FrequentlyAsked 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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