Global Bio-Based PP To Grow Considerably By 2020 Amid Increasing Application In Textiles, Injections, Films

Global Bio-based PP to grow considerably by 2020 amid increasing application in textiles, injections, films

28-Jul-16

Global bio-based polypropylene (PP) market is expected to witness considerable growth over the next six years uptil 2020 on account of increasing application in Textiles, injections and films, as per Hexa Research.
Injection is the major application segment of bio-based PP, and is likely to experience significant growth over the forecast period. Bio-based PP has higher melting point which allow it to use in manufacturing medical equipments. Growing medical equipment market across the globe is likely to propel the bio-based PP market. Bio-based PP sheets are used to manufacture crystal clear packaged material for retail market. Growing bio-plastics industry coupled with environmental concerns regarding use of bio-based products is expected to drive market over the foreseeable period. Supportive government regulation regarding reduction of greenhouse gas emission is anticipated to have positive impact on bio-based PP market over the next six years. Bio-based PP is a bio-plastics used to manufacture lightweight automotive parts. Growing automotive market coupled with consumer awareness regarding bio-based products is projected to augment the global bio-based PP market over the forecast period. Shift in focus toward increasing efficiency by using lightweight material is expected to drive the bio-based PP market over the next six years. Films is second major application segment of bio-based PP. Increasing sustainable packaged materials is expected to drive the market growth in near future. Increasing consumers demand coupled with changing life style is likely to influence textile market, which in turn expected to have positive impact on bio-based PP market over the foreseeable period. Bio-based PP is used as a concrete additive and elastomer modifier. Increasing building & construction activities in developing nations such as Brazil, China, and India is expected to drive the market in this region. Increasing elastomer demand in industrial process is likely to propel bio-based PP market in near future. Growing demand of bio-based PET and PLA is expected to hinder the market growth over the foreseeable period. In addition, increasing shale gas exploration is expected to hamper the market growth in near future.