Recycled Propylene Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Process (Mechanical, Chemical), By Source (Bottles & Containers, Films, Bags, Foams, Industrial & Agricultural Waste, Others), By Application (Packaging, Automobile, Building & Construction, Textiles, Pharmaceuticals, Electronics, Others), By Region, and Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationRecycled Propylene Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Process (Mechanical, Chemical), By Source (Bottles & Containers, Films, Bags, Foams, Industrial & Agricultural Waste, Others), By Application (Packaging, Automobile, Building & Construction, Textiles, Pharmaceuticals, Electronics, Others), By Region, and Competition
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, 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.
Rising Demand from Packaging sector
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.
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
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.
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 – 2022 |
|
Estimated Year |
2023 |
|
Forecast Period |
2024 – 2028 |
|
Quantitative Units |
Revenue in
USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028 |
|
Report coverage |
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends |
|
Segments covered |
·
Process ·
Source ·
Application |
|
Regional scope |
North
America, Europe, Asia Pacific, South America, Middle East & Africa |
|
Country scope |
United States,
Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, Netherlands, Sweden,
Belgium, China, India, South Korea, Japan, Thailand, Vietnam, Philippines, Australia,
Indonesia, Brazil, Argentina, South Africa, Saudi Arabia, UAE |
|
Key companies profiled |
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 |
|
Customization scope |
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
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options |
Avail customized
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|
Delivery Format |
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request) |
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