Published on : Sep 21, 2016
ALBANY, New York, September 21, 2016: Polypropylene (PP) finds application in plastics, stationery, textiles, labeling and packaging, reusable products, medical equipment, laboratory equipment, and carpeting. Primarily, polypropylene is used to manufacture many automobile products and toys in the plastics industry. Moreover, the use of PP in reusable products including containers and jars is increasing. Owing to the physical and chemical properties, bio-based polypropylene is being increasingly used for making many types of carpets. The rising demand for bio-based PP in the automotive industry is expected to propel the global market, predicts a new report from ResearchMoz.us.
The report, titled “Global Bio-based Poly Propylene (PP) Industry 2016, Trends and Forecast Report,” states that the global demand for bio-based polypropylene is expected to increase in the coming five years due to the rising application in automotive, injections and films, and textile industries. As bio-based PP has a higher melting point, it is increasingly being used for manufacturing various medical equipment, such as injections. The growing medical equipment market is one of the key driving factors for the global bio-based propylene industry. The rising bioplastics industry is also expected to benefit the demand for bio-based PP.
The changing lifestyles and the rising demand from consumers are also predicted to propel the global market for bio-based polypropylene industry. The current government conditions are favoring the use of bio-based PP in many regions, which is predicted to have a positive influence on the global market. The agriculture market is growing at a significant pace in Asia Pacific, providing the required amount of basic raw materials for manufacturing bio-based PP. Going forward, this is predicted to benefit the global market for bio-based PP.
For a detailed analysis of the geographical reach of the key companies, the global bio-based polypropylene industry is divided into Asia, North America, and Europe. Key companies manufacturing bio-based propylene are focusing on increasing their production considering the consistently rising demand.
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The global automotive industry is growing at a significant pace with many car makers introducing new vehicles in the market. The rising demand for new vehicles is likely to increase the demand for bio-based polypropylene. The report studies the demand for bio-based PP in nations including China, the U.S., Japan, and Germany. Thus the development of the automotive industry is likely to create many new opportunities for the global bio-based PP industry.
As per the findings of the report, the global bio-based polypropylene industry is expected to be highly competitive in the years to come owing to the entry of new companies and new product launches. Considering the growing market, many new companies are expected to enter the market. The entry of new players will increase the level of competition for the already existing companies, state the analysts. However, key companies are planning to acquire the startup companies to maintain their dominance in the years to come.
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