- The synthetic and bio-based polypropylene market was anticipated at about 55.8 million tons in 2013. Increased demand for synthetic and bio-based polypropylene in client industries is expected to positively affect the market. Robust demand for polypropylene in various consumer sectors, like construction, automotives, packaging, and fabrics is also predicted to drive the demand for the synthetic and bio-based polypropylene market. Positive features of synthetic and bio-based polypropylene, such as physical quality, simple availability of unprocessed materials and chemical inertness are also anticipated to steer the sales of the worldwide market.
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The synthetic and bio-based polypropylene market is intimately integrated with the worldwide industry of hydrocarbons. Propene, a processing plant by-product and one of the most vital petrochemical raw materials is the unprocessed material for polypropylene. Hence, the varying costs of natural gas and oil negatively affect the market. Such variance impacts the functional costs and lucrativeness of polypropylene, thereby hindering the synthetic and bio-based polypropylene market. Stern policies in opposition to usage of plastics due to their dangerous effects on ecology whilst discarding and manufacture are also predicted to decelerate the pace of the market.
Changing inclinationof clients towards utilization of bio-based propylene, together with supportive governmental proposals is a significant component that shapes the synthetic and bio-based polypropylene market in the coming years. The augmented replacement of conventional polypropylene by bio-based polypropylene is also reported to slow down the worldwide market. Growing research and development proposals with respect to cleaner manufacturing and discarding provide plentiful prospects to participants of the synthetic and bio-based polypropylene market.
Polypropylene, also referred to as polypropene is a kind of thermoplastic polymer resin. It is also utilized across various other application sectors, like labelling and laboratory and stationary equipment, apart from the ones above. Intensifying demand for synthetic and bio-based polypropylene across such sectors is also predicted to drive the synthetic and bio-based polypropylene market ahead.
Amplified demand for polypropylene in the sector of beverage and food containers also steers the market forward.The other applicationsectors across which polypropylene finds use are healthcare equipment, papers, reusable products, carpeting, etc. Accelerated demand for polypropylene across these sectors is also anticipated to expand the synthetic and bio-based polypropylene market further.
Injection molding has leaded the worldwide synthetic and bio-based polypropylene market in the recent past. Injection molding applications span across different sectors, such as construction, automotives, packaging, consumer goods, electronics, etc. Developing regions are likely to witness robust demand from polypropylene applications. The other important applications are fabrics and films. Film applicationsare estimated to undergo maximum CAGR through the forecast phase.
Asia Pacific leaded the synthetic and bio-based polypropylene market. The region captured nearly half of the worldwide share. It was followed by the regions of Europe and North America. Strong demand for polypropylene across consumer sectors in developing regions is estimated to propel the regional markets ahead. Europe and North America are likely to witness reasonable expansion in the years ahead. India and China are projected to dominate the Asian Pacific synthetic and bio-based polypropylene market.
Information Source: Grand View Research
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