Polypropylene Market Size, Revenue, Trends, Competitive Landscape Study & Analysis, Forecast To 2030
According
to a new report by Reports and Data, the global Polypropylene Market is
forecast to reach USD 239.84 Billion by 2030. Increasing adoption of PP in the
3D Printing industry owing to its superior chemical resistance is a significant
factor influencing market demand. Polypropylene has the lowest density out of
all commonly used in manufacturing plastics, which makes it very light. Other
benefits associated with the material, including flexibility, durability, and
electrical resistance, make it highly practical for the industry. Currently,
the product is being used in the healthcare sector to manufacture medical
vials, diagnostic devices, specimen bottles, and pill containers.
Major
factors driving market revenue growth are rising demand from the automotive
industry, growing adoption of the product for packaging applications, and
increasing installation of propane dehydrogenation facilities across the world.
Rising adoption of Electric Vehicles (EVs) and various initiatives taken by
governments of several countries to promote EVs are expected to drive revenue
growth of the market during the forecast period. Key players in the automotive
sector are focusing on utilizing lightweight polymers in order to enhance fuel
efficiency, which would have a positive effect on the global market.
The
global Polypropylene market research report provides a brief overview inclusive
of competitive landscape and key developments in the market. It provides an
extensive study analysis of the strategic alliances such as mergers and
acquisitions, joint ventures, collaborations, product launches and brand
promotions, corporate deals and partnerships, among others. It also offers
insights into company overview, financial standing, business expansion plans,
and revenue growth of each company. It also sheds light on product advancement,
technological developments, and research and development activities.
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Further
key findings from the report suggest:
- Polypropylene
is one of the fastest-growing polymers. This growth is mostly attributed
to polypropylene’s ability to displace conventional materials such as
wood, glass, and metal at a lower cost. The material offers excellent
chemical resistance and weldability, which makes it ideal for the
automotive industry, consumer goods, and packaging applications.
- The demand
for PP resins for moulding is projected to grow significantly in the
coming years. PP exhibits specific properties, such as chemical
resistance, low density, outstanding property balance, and versatility,
which makes it apt for a wide range of applications.
- Polypropylene
is majorly used for food packaging. It is widely used for sweet and snack
wrappers, hinged caps, and microwave containers. Furthermore, since PP
containers do not leach chemicals, they are considered safe for packaging
applications.
- Increasing
adoption of Biaxially Oriented Polypropylene (BOPP) films in food
packaging is also a significant trend observed in the market. Benefits
associated with BOPP films, including low moisture transmission rate,
excellent slip, and optical properties, high tensile strength, and low
thermal shrinkage, have driven their demand for food packaging
applications.
- The
automotive segment is expected to have lucrative growth during the
forecast period due to the increased production of automobiles. Polypropylene
is widely used in automotive parts due to its low cost, outstanding
mechanical properties, and moldability. Main application areas include
battery cases and trays, bumpers, fender liners, interior trim,
instrumental panels, and door trims.
- In May 2020,
LyondellBasell unveiled that Advanced Global Investment Company (AGIC) has
selected the Spheripol technology: the company’s leading polypropylene
technology for a new world-scale facility.
- In May 2020,
CNOOC and Shell collaborated to expand their petrochemical complex in
Huizhou, Guangdong province in China. The companies will focus on the
production of ethylene glycol, polyethylene, polypropylene, and propylene
oxide through the partnership.
Key
Players:
Key
participants include BASF SE, China National Chemical Corporation (CHEMCHINA),
Dow Chemical Company, ENI S.P.A., Exxon Mobil Corporation, Braskem, INEOS Group
Holdings S.A., LyondellBasell Industries N.V., Saudi Basic Industries
Corporation, SINOPEC, and TOTAL Specialties USA, Inc.
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Key
Questions Addressed in the Report:
- What is the
expected revenue growth rate the global Polypropylene market is
expected to register during the forecast period?
- What are the
key growth driving factors of Polypropylene market?
- Who are the
leading players in the market?
- What are the
key outcomes of SWOT analysis and Porter’s Five Forces analysis?
- Which region
is expected to account for the largest market share in the
global Polypropylene
An
extensive analysis of the global market is included in the report which covers
different factors from region-centric key statistical data to macro- and
micro-economic factors that are crucial for forecast assessment. The study also
offers a comprehensive analysis of the growth prospects, patents, technological
advancements, and product launches in the market.
Market
Segmentation:
Regional
Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
Extraction
Type Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Homopolymer
- Copolymer
Application
Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Moulding
- Injection
Moulding
- Blow
Moulding
- Fiber &
Raffia
- Films &
Sheets
- Bags &
Sacks
- Containers
- Others
End
Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Packaging
- Flexible
Packaging
- Rigid
Packaging
- 3D Printing
- Automotive
& Transportation
- Building
& Construction
- Electrical
& Electronics
- Healthcare
- Others
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Key
Points Addressed in the Report:
- A detailed
analysis of the global Polypropylene market through assessment
of key market aspects such as technology, product type, application,
end-use, and overall industry dynamics.
- Qualitative
and quantitative analysis of the market estimation and CAGR calculation
for the forecast period.
- All-inclusive
assessment of market dynamics with emphasis on drivers, restraints,
opportunities, and limitations.
- Extensive
profiling of key companies operating in the market including company
overview, financial standing, product offerings, product portfolio, recent
product and technological advancement, and business expansion plans.
Thank
you for reading this article. You can also get chapter-wise sections or
region-wise report coverage for North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa.
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