DUBLIN, Oct. 21, 2020 /PRNewswire/ -- The "Synthetic and Bio Based Polypropylene Market - Global Industry Perspective, Comprehensive Analysis and Forecast 2020-2026" report has been added to ResearchAndMarkets.com's offering.
Global demand for synthetic and bio-based polypropylene market was valued at approximately USD 32.1 Million in 2019, and is expected to generate revenue of around USD 53.2 Million by end of 2026, growing at a CAGR of around 7.5% between 2020 and 2026.
Polypropylene is the thermoplastic polymer with properties such as, high melting point and lightweight. Polypropylene is majorly used in textiles, packaging, medical glassware and in packaging of food & beverage. Synthetic polypropylene is made from the petroleum based polymers that are obtained from hydrocarbon and petroleum products. Bio based polypropylene are the polypropylene obtained from the natural raw materials such as sugarcane, beet and corn.
Polypropylene has wide range of applications in several industries. Growing demand in the automotive industries drives the synthetic and bio based polypropylene market. Use of polypropylene in the construction and rapidly rising demand for infrastructural sector fuels the growth of the market.
Also increasing used of polypropylene in the textile industry is expected to experience high market growth in the near future. However, several regulations led by the government for the ban of plastic products may hinder the growth of polypropylene market. Nevertheless, ongoing research for innovated products and solutions for managing the waste obtained from the polypropylene is anticipated to offer sufficient opportunities in the coming years.
The report provides a comprehensive view on the synthetic and bio based polypropylene market, it includes a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter's Five Forces model for the synthetic and bio based polypropylene market has also been included. The study encompasses a market attractiveness analysis, wherein application segments are benchmarked based on their market size, growth rate and general attractiveness. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
Textile, injection molding and film applications are some of the key applications for the synthetic and bio based polypropylene market. Injection molding dominated the market owing to various end user industries such as packaging, consumer goods, furniture, automotive, electronics and medical equipment. Film applications are likely to grow over the period.
Asia Pacific accounted for half of the share of total polypropylene market owing to growing demand from end use industries. Rising disposable income and government support for rapid urbanization stimulates the growth of polypropylene market in this region. North America and Europe are expected to experience modest growth due to mature market for polypropylene. Latin America, Middle East and Africa are anticipated to grow at the decent rate owing to increasing development rate.
Key players operating in this market include
- Qatar Petrochemical Company
- Japan Polypropylene Corporation
- LyondellBasell Industries
- Bayer Material Science
- PetroChina Company Ltd
- SABIC, Reliance Industries Ltd
- Washington Penn Plastic Company, Inc
- Chevron Phillips Chemical Company
- BASF SE
- Fulton Pacific
For more information about this report visit https://www.researchandmarkets.com/r/iaex85
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