BANGALORE, India | 12th September 2020: The major factors driving the polypropylene market size’s growth are the rising demand for Polypropylene in emerging markets due to their versatility.
Polypropylene is one of the most flexible polymers used in almost every industrial industry. Polypropylene provides chemical and extreme temperature resistance and is widely used in packaging, vehicles, building & design, healthcare, and electronics.
The Global Polypropylene Market size is expected to grow from USD 68,488.02 Million in 2019 to USD 93,586.40 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 5.34% during the forecast period.
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COVID-19 EFFECT ON POLYPROPYLENE MARKET
With the magnitude of the pandemic lessening in many countries, polypropylene consumer sentiment is continuing to increase. As polypropylene feedstock costs are set to return to baseline levels, consumers are showing less pessimism and more optimism.
The demand for exports of Polypropylene has resumed, and the production of polypropylene processors has increased, particularly in countries such as the USA.
TRENDS INFLUENCING THE POLYPROPYLENE MARKET SIZE
The increasing demand from end-use industries such as packaging, automotive, design & manufacturing, etc., is the primary driver for Polypropylene Market size. Polypropylene is a low-cost material with excellent mechanical properties and moldability. Because of this, Polypropylene is over half the plastic used in the automotive industry.
Polypropylene is used primarily for injection molding and is mostly used in pellet form. Recent advances in the injection molding technique, such as multi-component injection and microinjection, coupled with advanced injection molding machines, resulting in better and more effective end products. Thus increasing the use of advanced techniques will, in turn, increase the Polypropylene Market size.
Another factor driving the growth of the polypropylene market size is the growing use of packaging in the food and beverage industry. Food and beverage packaging materials are experiencing rising demand across the world. Polypropylene helps to reduce the potential for food degradation and has excellent resistance to moisture, increasing its acceptability for efficient food packaging solutions in the food and beverage industries.
Growing information about plastics use and replacing sustainable packaging solutions is likely to hamper polypropylene growth in the coming years. But manufacturers are focused on developing competent bio based Polypropylene that is expected to offer enormous market opportunities.
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POLYPROPYLENE MARKET SHARE ANALYSIS
North America is expected to hold the largest Polypropylene Market share during the forecast period. Polypropylene’s dominance is attributed to the increasing use of packaging in the food and beverage industry in countries such as the U.S., Canada, and Mexico. Moreover, growing numbers of R&D centers and increased market demand for lightweight automotive components and electronic products drive demand in the region.
The Asia Pacific is expected to witness the highest growth during the forecast period. This rapid growth is due to the increasing demand for polymers in the automotive and construction industry.
Based on Geography, the Polypropylene Market studied across
- Americas,
- Asia-Pacific,
- Europe,
- Middle East
- Africa
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POLYPROPYLENE MARKET SEGMENTATION
Based on Type, the Polypropylene Market studied across
- Copolymer
- Homopolymer
Based on Application, the Polypropylene Market studied across
- Blow Molding,
- Fiber & Raffia,
- Film & Sheet,
- Injection Molding.
Based on End Use, the Polypropylene Market studied across
- Automotive,
- Building & Construction,
- Electrical & Electronics,
- Medical, and Packaging.
THIS REPORT ANSWERS QUESTIONS SUCH AS:
- What is the market size and forecast of the Global Polypropylene Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Polypropylene Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Polypropylene Market?
- What is the competitive strategic window for opportunities in the Global Polypropylene Market?
- What are the technology trends and regulatory frameworks in the Global Polypropylene Market?
- What are the modes and strategic moves considered suitable for entering the Global Polypropylene Market?
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SIMILAR REPORTS
The global Polypropylene Catalyst market size is projected to reach USD 1260.8 Million by 2026, from USD 1028.1 Million in 2020, at a CAGR of 3.5% during 2021-2026.
This report focuses on Polypropylene Catalyst volume and value at the global, regional, and company levels. This report represents the overall Polypropylene Catalyst market size by analyzing historical data and prospects from a global perspective.
In 2019, the global Polypropylene Carbonate (PPC) Market size was USD 206.4 Million and it is expected to reach USD 318.6 Million by the end of 2026, with a CAGR of 6.6% during 2021-2026.
In 2019, the Biodegradable Plastics Application segment held the largest market share, taking up 92.24% of sales volume in the global market.
The global polypropylene and polypropylene composites market for injection molding was valued at USD 41,944 Million in 2017 and is projected to reach USD 84,419 Million by 2025, growing at a CAGR of 8.3% from 2018 to 2025.
The Global Bio-Based Polypropylene Market is expected to grow from USD 35.36 Million in 2019 to USD 56.88 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 8.24%.
