Rising demand in the automotive industry is the major factor driving theglobal synthetic and bio-based polypropylene market.
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Polypropylene is a thermoplastic polymer resin which is used for labelling, textiles, packaging, plastics, stationary, and laboratory equipment. Bio polypropylene is made from raw materials like corn, vegetable oil, biomass, and biodiesel.
The demand for the Bio-Based Polypropylene Market increases due to its functional properties and characteristics.
Bioplastic solves emission concerns and coheres with the government regulations.
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This factor will be favorable for the growth of the Bio-Based Polypropylene Market. Green propylene can be obtained from renewable sources instead of using polypropylene plastic.
Recent developments in Biotechnology also push the growth of the market.
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Scope & Regional Forecast of the Bio-Based Polypropylene Market
The demand for the Bio-Based Polypropylene Market will be boosted by the applications of polypropylene. Growing environmental concerns associated with the use of pp compound has prompted the use of biodegradable plastic resin.
The volatile prices of the petroleum based chemicals is another factor that changes the inclination of the customers to bio polypropylene.
The growth of bioplastics and regulatory support about the reduction of the GHG emission will drive the growth of the Bio-Based Polypropylene Market. The demand for lightweight materials in the automotive segment along with favorable regulations for ecofriendly products will lead to the growth of biodegradable plastic resin in the forecast period.
But the demand for substitutes like PLA and bio based PET will restrain the market growth.
Europe has the largest base in the Bio-Based Polypropylene Market. Many regulations from the European Commission support the growth of biobased material due to their low GHG emissions during the manufacturing process.
North America will follow Europe due to the demand for bio friendly products in the construction industry. Growing industrialization in Latin America, Middle East, and Africa helps in improving the economic conditions in the region.
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Segmentations & Key Players Involved in the Bio-Based Polypropylene Market
The Bio-Based Polypropylene Market can be broken down into various segmentations on the basis of –
- Region- North America, Europe, and Asia.
Some of the key players involved in the Bio-Based Polypropylene Market are as follows:
- Global Bioenergies
- Braskem Dow Chemicals
- Biobent Polymers
- Washington Penn Plastic Co.
- Reliance Industries Ltd
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