Global Market for Recycled Propylene is Expected to Grow Impressively Through 2028.
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Global market for Recycled Propylene is expected to grow impressively through 2028. Owing to the expanding use of plastics, the worldwide plastic waste situation has dramatically worsened, raising serious concerns for both the environment and human health. Propylene, in nature, is a thermoplastic, and it has several advantages over other materials, including lightweight, resistance to chemicals, acids, and bases, strength, and low moisture resistance. It is widely employed in various fields because of its excellent chemical and mechanical qualities. The use of plastic increases as compared to other materials. Recycled propylene is a popular material because of its ecologically beneficial ability. There are several negative environmental repercussions associated with the growing usage of plastic, and as a result, recycled plastic is becoming more and more in demand across the world. Among the recyclable plastic, recycled propylene is one of the most used polymers in packaging, labeling, textiles, and plastic parts. Various strict laws are in place all over the world to prevent the use of plastic and to manage plastic trash. Significant expenditures in R&D to create new plastic recycling methods have also resulted from this. Consumer appetite for cutting-edge technology that maximizes profit drives the market's expansion. Therefore, it is anticipated that the global market for recycled propylene will expand throughout the projection period.Speak directly to the analyst to clarify any post sales queries you may have.
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Rising Demand from the Packaging sector Driving the Market
Increasing the use of recycled propylene in various industries, particularly in packaging, where demand is linked to the consumption of packaged foods and drinks, is anticipated to fuel market expansion during the forecast period. Recycled propylene is used in packaging materials for the food and beverage industries because it has high moisture resistance and reduces the likelihood of significant food degradation.Increasing Demand from the Construction Sector
It is projected that the use of recycled propylene will be driven by the constantly expanding building and construction sector. The structural timber, insulation, windows, and fences widely used in construction are all made from recycled propylene. In addition, the building and construction sector is expanding quickly in emerging nations. Building and construction sector growth is expected to be fueled by increased government spending in infrastructure development and government strategies to draw FDI to emerging economies. Thus, the need for global recycled propylene market is expected to rise during the forecast period.Automobile Applications Dominate the Market
According to the application, it is anticipated that the automobile sector would have a more significant market share for recycled propylene. A high proportion of this market is largely related to manufacturing parts like battery cases, bumpers, carpet fiber, etc. The use of recycled propylene is predicted to expand in the coming years due to rising environmental concerns, which are expected to drive demand for recycled propylene in their manufacturing.Strategic Developments
- According to an agreement signed between Berry Global and PureCycle, Berry Global will now have access to PureCycle's ultra-pure recycled (UPR) propylene resin. One of Berry's most recent announcements in November 2021 for improving its recycled material procurement is the partnership.
- Recently, KW Plastics began construction on a propylene wash line, increasing its operational capacity by 100 million pounds annually as per information in December 2021. The product line would increase productivity, according to Scott Saunders, the general manager of the company.
- In addition to producing over 100 million pounds of propylene per year, in 2017, P&G introduced the PureCycle technology, which would also create better-recycled propylene for food packaging.
- In January 2020, L. Brüggemann GmbH & Co. KG and Fraunhofer LBF, both with headquarters in Germany, announced their collaboration to develop innovative stabilizer systems for recovered polyolefins to increase the recyclability of plastics.
- A prominent packaging and paper business, Mondi plc (Australia), and the British-Dutch multinational consumer goods giant Unilever announced their partnership to manufacture a recyclable propylene (PP) mono-material bag in Turkey for the Knorr line of dry soup powders. In October 2021, Unilever committed to reducing its reliance on virgin plastic. By increasing its use of recycled plastic and expanding reuse and refill forms, the FMCG giant hopes to lower its consumption of plastic packaging by more than 100,000 metric tonnes.
Market Segmentation
The Global Recycled Propylene Market is segmented based on process, source, application, and region. Based on the process, the market is bifurcated into mechanical and chemical. Based on source, the market is divided into bottles & containers, films, bags, foams, industrial & agricultural waste, and others. Based on application, the market is divided into packaging, automobile, building & construction, textiles, pharmaceuticals, electronics, and others. Based on region, the market is divided into (North America, Europe, Asia Pacific, South America, the Middle East & Africa), By Company.Company Profiles
LyondellBasell Industries Holdings B.V, Haldia Petrochemicals Limited, Reliance Industries Limited, Westlake Chemical Corporation, Formosa Plastics Corporation, Custom Polymers Inc., Joe's Plastic Inc., MBA Polymers Inc., Veolia Polymers NL B.V, SUEZ SA are the key players operating in the Global Recycled Propylene Market.Report Scope:
In this report, global recycled propylene market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:Recycled Propylene Market, By Process:
- Mechanical
- Chemical
Recycled Propylene Market, By Source:
- Bottles & Containers
- Films
- Bags
- Foams
- Industrial & Agricultural Waste
- Others
Recycled Propylene Market, By Application:
- Packaging
- Automobile
- Building & Construction
- Textiles
- Pharmaceuticals
- Electronics
- Others
Recycled Propylene Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- France
- Germany
- United Kingdom
- Spain
- Italy
- Netherlands
- Sweden
- Belgium
- Asia-Pacific
- China
- India
- South Korea
- Japan
- Thailand
- Vietnam
- Philippines
- Australia
- Indonesia
- South America
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in Global Recycled Propylene Market.Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.This product will be delivered within 1-3 business days.
Table of Contents
1. Product Overview
2. Research Methodology
3. Executive Summary
5. Global Recycled Propylene Market Outlook
6. North America Recycled Propylene Market Outlook
7. Europe Recycled Propylene Market Outlook
8. Asia-Pacific Recycled Propylene Market Outlook
9. South America Recycled Propylene Market Outlook
10. Middle East and Africa Recycled Propylene Market Outlook
11. Market Dynamics
12. Market Trends & Developments
14. Porter’s Five Forces Analysis
15. Competitive Landscape
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- LyondellBasell Industries Holdings B.V
- Haldia Petrochemicals Limited
- Reliance Industries Limited
- Westlake Chemical Corporation
- Formosa Plastics Corporation
- Custom Polymers Inc.
- Joe's Plastic Inc.
- MBA Polymers Inc.
- Veolia Polymers NL B.V
- SUEZ SA
