The global polypropylene market size was around USD 97.00 billion in 2018 and expected to reach USD 155.83 Billion By 2027 with CAGR of 6.3% during forecast period 2020 to 2027.
Polypropylene is the second-most commonly produced plastic, in terms of volume, after polyethylene. The global production of polypropylene resin is 56.0 Million Metric Tons in 2018 and is projected to reach around 88.0 Million Metric Tons by 2026, growing at a rate of approximately 5.7%.
Increasing demand for polypropylene from the packaging industry is estimated to stimulate market demand in the forecast period. Superior barrier properties, high tensile strength, better surface finish, and low cost allows polypropylene to be an ideal product for numerous packaging applications.
Polypropylene films’ have exceptional optical clarity and low moisture/vapor transmission makes it appropriate for implementation in food packaging. Other applications comprise electronic industry films, graphic arts applications, and disposable diaper tabs, among others. These films are available either as a cast film or bi-axially orientated polypropylene. Also, polypropylene is blow molded to manufacture bottles, crates, and pots. Thin-walled containers made from polypropylene are usually used for packaging of food items.
Increasing demand for lightweight material in automobiles is anticipated to drive market demand in the future. The automotive industry is one of the most significant consumers of polypropylene. The role of polymers such as polypropylene, in the design and manufacturing of automobiles is witnessing a rapid increase in recent years with stringent regulations and shifting consumer habits fueling demand for lightweight, affordable, and fuel-efficient vehicles. Fuel efficiency has become one of the essential requirement in automotive vehicle design owing to the rising fuel prices and stricter environmental regulations, which combined with high demand for automobiles as well as a rise in the level of disposable income in developing nations is projected to drive the market demand.
The global polypropylene market is expected to witness significant growth over the forecast period. Polypropylene also known as polypropene, is a thermoplastic linear hydrocarbon polymer resin, with little or no unsaturation. It is a semi rigid and translucent material which does not presents stress-cracking problems and offers excellent chemical and electrical resistance at high temperatures. Polypropylene is a versatile product because of which it is used in numerous industries such as toy making, automobile, carpeting, paper, and manufacturing of laboratory equipments. It is easy to customize and can be coloured in various ways without degrading the original quality of the plastic. Besides, it is a good alternative to other types of plastics as it does not contains Bisphenol A (BPA). BPA is not a safe option for packaging as it is an endocrine disruptor leading to various health issues such as diabetes, heart diseases, hormone and brain development problems in young children and foetuses. The rising demand of polypropylene from end use industries such as construction and especially automobile owing to the increasing demand for light weight vehicles is driving the global polypropylene market.
Further key findings from the report suggest
The Polypropylene market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Polypropylene market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Polypropylene market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Polypropylene market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Polypropylene market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Polypropylene capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Polypropylene by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Polypropylene market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Polypropylene market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Polypropylene market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Polypropylene industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Polypropylene market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Polypropylene market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Polypropylene market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Polypropylene market. These factors have benefited the growth of the global market for Polypropylene. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Polypropylene. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key participants include SABIC, Exxon Mobil, Dupont, INEOS, Lyondellbasell Industries Holdings B.V., Total S.A., Formosa Plastics Group, China Petrochemical Corporation, LG Chem, and Sumitomo Chemical, among others attributed to the high demand from growing end-use industries in the region.
Segments covered in the report:
Molding Techniques Outlook
In this study, the years considered to estimate the market size of Polypropylene are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are: