The global recycled polypropylene market is expected to exhibit a robust CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR).
Recycled polypropylene is procured from packaging and containers and used in various end-use applications, including fiber for packaging, clothing, carpets, and upholstery, sheets and films, and food-grade and non-food-grade bottles for various commodities. The growing awareness about the importance of recycling plastic waste is likely to remain the major driver for the global recycled polypropylene market over the forecast period. Plastic waste has emerged as the number one threat to biodiversity and ecosystems all over the world, due to the harm caused by the nonbiodegradable plastic waste. Plastic waste remains in the environment in the state it is discarded, without undergoing biodegradation like organic waste. This can result in major blockages in the environment, including choking of water bodies and poisoning of terrestrial and aquatic animals. Growing corporate and government support to recycling of plastic components is likely to be a major driver for the global recycled polypropylene market over the forecast period.
The growing efforts from retailers to produce and viably market packaging made from recycled PP is likely to remain a major driver for the global recycled polypropylene market. The production of fibers and packaging material is the major application for the recycled polypropylene market, leading to an increasing number of clothing manufacturers utilizing recycled polypropylene to produce packaging materials of various types. Polypropylene offers enhanced water resistance, in addition to making the packaging more resistant to bending and stretching due to its plasticity. Carpets and other fiber fill applications such as tenting equipment and sleeping bags are also a major application channel for recycled polypropylene.
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Competitive Analysis:
Leading players in the global recycled polypropylene market include PLASgran Ltd., Ultra Poly Corporation, Joe’s Plastic Inc., Custom Polymers, BB Plastics Inc., Jayplas, KW Plastics, SUEZ, Veolia Polymers NL BV, and MBA Polymers Inc. Major players in the global recycled polypropylene market are engaged in product development, looking to create a more diverse range of products from recycled polypropylene.
In October 2019:
Braskem America launched its new I’m Green line of recycled polypropylene. The polypropylene is sold in the form of pellets, and constitutes the first product addition to Braskem’s I’m Green product line.
Total S.A. announced plans to double the production capacity of Synova, an affiliate of Total, in order to meet the growing demand for recycled plastic products. Synova, which is based in Normandy, will now produce 40,000 tons of recycled polypropylene per year.
Segmentation:
The global recycled polypropylene market is segmented on the basis of process, source, end use, and region.
By process, the global recycled polypropylene market is segmented into mechanical and chemical.
By source, the global recycled polypropylene market is segmented into bottles, films, foams, bags, industrial and agricultural waste, and others.
By end use, the global recycled polypropylene market is segmented into packaging, automotive, textiles, building and construction, electronics, medical, and others. The packaging segment held the dominant share in the global recycled polypropylene market in 2017, accounting for 38% of the global market. Automotive and building and construction are the next two largest end use segments of the global recycled polypropylene market.
Regional Analysis:
North America is the dominant regional market for polypropylene recycling, with the region holding the largest share in the global market in 2017. Increasing government initiatives to facilitate smooth recycling of polypropylene are likely to remain a key factor in the recycled polypropylene market’s growth in North America over the forecast period.
Europe holds the second largest share in the global recycled polypropylene market, followed by Asia Pacific. The rapid growth of the packaging industry in Asia Pacific is held as a key factor behind the growth of the recycled polypropylene market in the region.
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