Synthetic and Bio-Based Polypropylene Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth, and Forecast 2015 - 2023
- Transparency Market Research
Polypropylene, also known as polypropene, is a type of thermoplastic polymer resin discovered by Karl Rehn, a German chemist and Italian chemist named Montecatini in 1954. The thermoplastic polymer in used in a wide range of applications such as textiles, labeling and packaging, plastics, stationary, and laboratory equipment owing to its property of being highly versatile. The beneficial properties of polypropylene make it useful in everyday applications,for instance, plastics. Its high melting point vis-à-vis other lightweight plastics makes it useful in food and beverage containers that require high temperature resistance. Polypropylene can be manufactured in three forms which include isotactic, syndiotactic and atactic. Isotactic is the primary form of polypropylene manufactured in the market. These polymers can be dyed into various colors. These can also be customized. These are major reasons for its usage in the manufacture offibers employed in carpets.
Polypropylene is used in a wide range of applications such as plastics, carpeting, reusable products, paper, and medical equipment. Polypropylene is used in the manufacture of toys and automobile products in the plastics industry. These polymers are employed in the making of upholstery, area rugs, and all types of carpets due to their chemical and physical properties. These polymers are used in reusable products such as jars, containersetc. Demand for polypropylene is expected to be significant in the paper industry for applications such as stationary and other writing bindings.
Synthetic polymers are petrochemical-based polymers obtained through bulk/ slurry, hydrocarbon slurry, and gas phase processes. These three processes are used to manufacture polypropylene. Stringent directives and regulations regarding the usage of plasticsare likely to hamper the growth of the polypropylene market. Currently, ecofriendly materialsare usedin themanufacture of polypropylene.Raw materials used in the manufacture of bio-based polypropylene include corn, biomass, vegetable oil, and bio-diesel. Demand for synthetic and bio-based polypropylene is projected to increase significantly owing to their potential functional properties and characteristics.
Rising demand in the automotive industry is the major factor driving theglobal synthetic and bio-based polypropylene market. Rising demand in construction and packaging industries is also expected to fuel the market.The textile industry isa major consumer of polypropylene,thereby contributing to the growth of the global synthetic and bio-based polypropylene market.
In terms of region, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are the major markets for synthetic and bio-based polypropylene. Developing regions such as Asia Pacific, especially China and India, are the key markets for synthetic and bio-based polypropylene due to increasing demand in automotive and construction industries. U.S. is the major consumer of propylene due to growing demand from the end-user industries. Brazil is also expected to fuel demand for synthetic and bio-based polypropylene in the market. Middle East and Africa regions are also likely to boost the demand for synthetic and bio-based polypropylene during the next few years.
Some of the key players in the global synthetic and bio-based polypropylene market include:Braskem, SABIC, LyondellBasell Industries, China Petrochemical Corporation, Washington Penn Plastic Co., Inc., ,Chevron Phillips Chemical Company, BASF, Japan Polypropylene Corporation, Fulton Companies, Qatar Petrochemical Company Q.S.C. , INEOS, PetroChina Company Limited, Reliance Industries Ltd., Total S.A, Bayer Material Science, National Petrochemical Industrial Company, Tasnee, Borouge, Pinnacle Polymers, Phillips 66 Company, Formosa Plastics Corporation, U.S.A., Exxon MobilCorporation and Borealis AG.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.
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