Global Bio Polypropylene(PP) Market 2015-2019
Bio-polypropylene belongs to the family of polyolefins which is produced from renewable or plant-derived energy sources, such as sugarcane, starch, etc. Bio-polypropylene derived from sugarcane usually exhibits the same characteristics as that of the polypropylene generated from fossil feedstock. It is a thermoplastic polymer that is known for its tensile strength, firmness and resistant to heat. Bio-polypropylene can be co-polymerized to enhance the tensile strength and toughness. It is utilized essentially for injection molding and thermoforming applications, and is transformed into diverse parts for use in durable applications in packaging, automotive industry, etc.
Technavio analysts forecast the global bio-polypropylene market to grow at a CAGR of 5.58% by volume during 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the global bio-polypropylene market for the period 2015-2019. It provides data on the following segments of the market:
Technavio Announces the Publication of its Research Report – Global Bio-Polypropylene Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Bio-Polypropylene Market: Biobent Polymers, Braskem, Dow Chemicals, Global Bioenergies, and Trellis Earth Products.
Other Prominent Vendors in the market are: Coskata, DuPont, Nature Works, and SABIC.
Commenting on the report, an analyst from Technavio’s team said: “The growing number of strategic alliances is a major trend that will boost market growth. Strategic alliances, partnership and co-operation agreements, and joint ventures are being entered into in order to achieve breakthroughs in developing a cost-effective and scalable process for the production of bio-polypropylene on a large scale.”
According to the report, one driver that fosters growth in this market is the growing consumer preference for sustainable products. Bio-polypropylene is already used extensively as a packaging material for making beverage bottle closures. In addition, due to the growing consumer inclination to utilize bio-based products, food and beverage manufacturers are increasingly focus on using bio-polypropylene as packaging material as it is lightweight and has reduced wall-thickness capabilities.
Further, the report states that the increasing availability of shale gas is a major challenge faced by this market. The expanded production of shale gas in the US has already diminished worldwide gas costs by decreasing the country’s demand for liquefied petroleum gas.