Allied Market Research published a report,
titled, Bio Based Polypropylene Market, by
Application: Global Opportunity Analysis and Industry Forecast, 2018-2025. The
report provides detailed analyses of the top winning strategies, market share
& estimations, driving factors & opportunities, key market segments,
and competitive landscape. According to the report, the global bio-based
polypropylene market generated $32.03 million in
2017 and is expected to reach $53.03 million by
2025, registering a CAGR of 6.5% from 2018 to 2025.
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Proactive measures to reduce carbon emissions,
increased adoption of specialty polymers, and aggrandized preference for
injection-molded parts due to their low weight drive the growth of the market.
However, increasing availability of substitutes including bio-based PET and PLA
hampers the growth of the market. On the other hand, growing usage of
polypropylene films in various applications such as food packaging, shrink
films, and others would create new opportunities in the industry.
Injection
application segment to retain lion's share by 2025
Injection application segment accounted for more
than one-third of the total market share in 2017 and is expected to continue to
maintain its dominant position by 2025. This is attributed to the growing
demand for injection molded parts across various end-user industries such as
aerospace, automotive, and electrical & electronics. However, films
application would register the highest CAGR of 7.4% from 2018 to 2025, owing to
increasing applications in packaging such as tape liners, shrink wrap, food
packaging, and others. The report also analyzes textile and other applications.
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Europe to
dominate in terms of revenue by 2025
Europe held
the major market share in 2017, accounting for more than one-third share of the
total market, owing to rise in demand for injection molded polypropylene for
the production of automobiles and stringent regulations for curbing emissions
from vehicles. This region is projected to retain its dominance through 2025.
However, North America would register
the fastest CAGR of 6.9% from 2018 to 2025, owing to increase in product
consumption for injection molding in various industries including aerospace,
electrical & electronics, and others.
Leading market players
The leading market players analyzed in the report
are Braskem, Biobent Polymers, SABIC, FKuR Kunststoff GmbH, Neste, Sinopec
Group, Novamont SpA, Global Bioenergies, PTT Global, Trellis Earth Products,
Inc., and DowDuPont. These players have adopted different strategies such as
collaborations, mergers & acquisitions, joint ventures, partnerships,
expansions, and others to gain a strong position in the industry.
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Full Summary@ https://www.alliedmarketresearch.com/bio-based-poly-propylene-PP-market
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