Global Polypropylene Market is estimated to reach USD 112.3 Billion by 2025 at a CAGR of 6.1 %, predicts forencis research (FSR).
Polypropylene Market: Summary
The Global Polypropylene Market is estimated to reach USD 112.3 Billion by 2025 at a CAGR of 6.1 %, predicts forencis research (FSR).
Polypropylene also referred as polypropene, is a rigid thermoplastic polymer with semi crystalline structure, which has gained massive popularity in last decade. The polypropylene is manufactured by polymerization process from the monomer propylene. It is one of the most used polymer, which possess high temperature resistance, low density, with high electrical fatigue and chemical resistance. Due to these excellent properties and ease in fabrication, the polypropylene is widely accepted in household articles, toys, rigid & flexible straps, pipes, electrical and automotive components, injection molding for production of industrial components.
Polypropylene Market: Drivers & Restraints
Soaring Demand from Packaging Industry
The plastics or polymers are crucial in the packaging sector owing to their superior properties, durability and cost advantages. Polypropylene is gaining higher demand from the packaging industry owing to higher resistance to chemical, fatigue, water and elevated temperature conditions. The rising demand for sustainable and innovative packaging solution across varied industries is projected to boost the market growth in the forecast period. Also, soaring demand for PP packaging films especially from food and beverage sector is projected to spur the market growth.
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Increasing Investment by the Prominent Companies to Boost Polypropylene Production
The growth of the polypropylene market is further pushed uphill owing to increasing investment by the key players on the expanding production of the polypropylene. The increase in number of production facilities owing to soaring demand of the propylene from the end–user industries. In 2018, the Exxonmobil announced investment of several hundred million dollars on the US Gulf coast project for boosting the polypropylene capacity. Ongoing investment in the emerging countries is projected to fuel the market growth in the years to follow.
Emergence of Substitute
The polypropylene market is witnessing growth at a remarkable pace, however, availability of substitutes is expected to hinder the market growth in the years to follow. Advent of new materials such as Acetal (POM), Polyhydroxy butyrate (PHB), and others, which exhibits similar properties to polypropylene with better recyclability may replace the PP. In addition to this, substitutes such as Polyhydroxy butyrate (PHB), emits lower emission, which may drive its demand. This, in turn, is projected to hinder the market growth
Polypropylene Market: Key Segments
· On the basis of Grade: Photopolymer Polypropylene, Random Copolymer Polypropylene and Block Copolymer Polypropylene
· On the basis of Application: Injection Moulding, Blow Molding, Film, Fiber and Others
· On the basis of End User Industry: Automotive, Packaging, Electrical & Electronics, Construction, Medical, Consumer Goods and Others
· Key Regions Covered : North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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Key Companies Covered
· Exxon Mobil Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
· BASF SE
· Borealis AG
· Saudi Basic Industries Corporation (SABIC)
· Braskem SA
· Chevron Phillips Chemical Company
· LyondellBasell Industries
· Covestro AG
· China Petroleum & Chemical Corporation
· Total SA
· Other Key Companies
Polypropylene Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Polypropylene Market, by Grade
- Photopolymer Polypropylene
- Random Copolymer Polypropylene
- Block Copolymer Polypropylene
· Polypropylene Market, by Application
- Injection Molding
- Blow Molding
Polypropylene Market, by End-User Industry
- Electrical & Electronics
- Consumer Goods
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· South Korea
· Rest of Asia-Pacific
· The Netherlands
· Rest of Europe
Middle East and Africa
· Saudi Arabia
· Rest of Middle East & Africa
· Rest of South America
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