Bio-based Polypropylene Market Holds Growth Of $50.7 Million By 2025 | Key Industry Players Braskem S.A., Biobent Polymers
San Francisco, 21
November 2018 - The
global bio-based polypropylene market is expected to reach USD 50.7 million by 2025 at a CAGR
of 5.1%, according to a new report by Grand View Research, Inc. Rise in demand
for bio-based polypropylene can be attributed to focus on sustainable plastics
in the food and beverage industry.
Bio-based
polypropylene is anticipated to register higher penetration in the automotive
industry due to heightening need to reduce overall weight of automobiles.
Multiple political and government initiatives are being undertaken for the
reduction of greenhouse gas (GHG) emissions and carbon footprint. In addition,
major automobile manufacturers are focused on deploying materials that increase
fuel efficiency of automobiles, which is expected to drive market growth over
the forecast period.
This industry
benefits from the presence of several regulations promoting the use of
low-weight materials across applications. In addition, the adoption of
international concords including the Kyoto and Montreal protocols will propel
the use of bio-based polymers for various applications. However, dwindling raw
material availability is expected to pose a major threat to industry growth
over the coming years.
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or view summary of this report:
www.grandviewresearch.com/industry-analysis/bio-based-polypropylene
www.grandviewresearch.com/industry-analysis/bio-based-polypropylene
Further key
findings from the study suggest:
- Films accounted for 18.5% of the market in 2016 in terms of
application on account of notable demand from major players in the food
and beverage packaging industry
- By application, the injection segment is anticipated to expand at
the highest CAGR of 5.7% in terms of revenue. This can be attributed to
increased usage in the production of components in automotive, building
and construction, and electrical and electronics industries
- Europe is likely to register a revenue-based CAGR of 5.3% during the
forecast period. This is majorly due to usage in various application
industries supported by regulatory agencies such as the European
Commission
- Key players in the market use several patented production techniques
and constantly strive for discovery of new products. As a result, R&D
investments are high in this industry.
Grand View Research has segmented the bio-based
polypropylene market on the basis of application and region:
Bio-based Polypropylene Application Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
- Injection
- Textile
- Films
- Others
Bio-based Polypropylene Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- Europe
- Asia Pacific
- Rest of the World
Access Press Release Of
This Research Report by Grand View Research:
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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