Biobased Polypropylene (PP) Market Size

Biobased Polypropylene Market Size

Biobased Polypropylene (PP) Market size was over USD 28 million in 2014 and is slated to grow above 4.5%.

Strong trend towards adoption of polymers to minimize overall automobile weight along with reduction in carbon emissions should drive biobased PP market size. Government norms regarding use of lighter materials in vehicles which helps automobiles to consume lower fuel would boost the product demand. Global automobile manufacture has witness growth from 77.6 million units in 2010 to 91.5 million units in 2015.
 

Light weighted materials finds application in medical technology, alternative energy bases, pressure vehicles and wind turbines. Biobased PP market price trend is subjected to low fluctuations unlike crude oil index which could drive industry growth.
 

Automotive manufacturing giants, Toyota Motor Corp. announced to substitute 20% of synthetic polymers used in their automobiles with biobased PP, starting with their inner parts. General Motors uses biobased PP for backing, shelving, trim and Cadillac seats and Ford Flex uses the product in manufacturing internal storage bins.
 

Favorable norms towards addressing environmental concerns to minimize carbon emissions should drive biobased polypropylene market size. U.S. and European government have numerous rules and norms regarding decreasing carbon dioxide emissions and to enhance fuel efficeincy, which is probable to deliver much required push to biobased PP market size.
 

Rising substitute products threats from bio PET and PLA may hinder the biobased PP market growth. Growth in shale gas exploration & production with the advent of hydraulic fracturing may restrict biobasd polypropylene market growth. Companies also plan to invest in research to manufacture bio PP for novel applications which should pave new growth opportunities.