Global bio-based polypropylene (PP) market is expected to witness considerable growth over the next six years on account of increasing application in Textiles, injections, and films. 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.
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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.
Europe was leading regional bio-based PP market in 2012, and is expected to witness growth over the next six years. Supportive regulatory system coupled with increasing use of bio-based products is likely to propel the market in European region. North America is the second major market of bio-based PP, and is projected to grow at significant rate over the forecast period. Growing biodegradable products demand in construction industry is expected to be the major factor driving the market in North America. Favorable government scenario toward use of bio-based products is projected to have positive impact on the market over the next six years.
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Asia Pacific market is expected to experience stagnant growth over the forecast period owing to availability of synthetic PP. Untapped shale gas reserves in China is likely to hamper the market growth in Asia pacific region. However, growing agriculture market in India and China is expected to provide basic raw material for bio-based PP. This development is likely to create an opportunity for the market players in this region. Growing industrialization in developing nations such as Middle East, Latin America, and Africa is expected to create an opportunity for the regional market players present in this region.
Trellis Earth Products was the only manufacturer indulged in bio-based PP production. Bio-based PP market is highly dominated by the top players. Shift in focus toward use of eco-friendly products coupled with regulatory support is expected to create an opportunity for the new entrants as well. Some key players operating in global bio-based PP market include Biobent Polymers, Dow Chemicals, Braskem, and Global Bioenergies.
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