The global polypropylene market size is expected to reach USD 151.8 billion by 2028, according to a report by Grand View Research, Inc., expanding at a CAGR of 3.4% from 2021 to 2028. Increasing product demand from the packaging, automotive, electrical and electronics, and a few other application industries is expected to propel market growth.Moreover, growing demand for lightweight product from these sectors is expected to be a key driver for the market.
Polypropylene
(PP) is a thermoplastic linear hydrocarbon polymer resin, with little or no
unsaturation. It is a semi rigid and translucent material, which does not
present 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 equipment. Rising demand for
polypropylene from the end-use industries, such as packaging, construction, and
especially automobile, owing to increasing demand for lightweight vehicles is
driving the global market.
The
packaging industry emerged as the largest end-use industry of polypropylene in
2019 owing to its unique properties, such as stiffness and twist retention,
making it an efficient material for packaging. For the consumer products
segment, polypropylene is extensively used in packing of soaps, detergents, and
toiletries as well as in the packing of some perishable food items, such as
yoghurt. In the electrical and electronics segment, it is used in the
production of switch boards, insulation cables, and capacitors because of its
high electric shock resistance. The automobile industry uses polypropylene
because of its moldability, mechanical properties, and availability in lower
cost as compared to other plastics.
Asia
Pacific emerged as the largest regional market for polypropylene in 2019 owing
to high demand from growing end-use industries. Demand in Europe is expected to
rise over the forecast period as manufacturers of this region are gradually
using polypropylene more than the conventional materials, like glass and metal.
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Polypropylene
Market Report Highlights
- The global
market is expected to witness significant growth over the forecast period
owing to rising product demand from the packaging and automotive end-use
industries
- The market in
U.S. is anticipated to reach USD 18.6 billion by 2028 owing to growing
demand for polypropylene from various end-use industries
- Asia Pacific
is projected to witness the fastest growth over the estimated period owing
to rapid economic growth across countries, such as India, China, Japan,
and Korea
- Rapid
development of the construction and automotive manufacturing industries in
APAC is also fueling the product demand in the regional market.
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Polypropylene
Market Segmentation
Grand View Research has
segmented the global polypropylene market on the basis of type, process,
application, end use, and region:
Polypropylene Type
Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
- Homopolymer
- Copolymer
Polypropylene Process
Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
- Injection Molding
- Blow Molding
- Extrusion
- Other
Polypropylene Application
Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
- Fiber
- Film and Sheet
- Raffia
- Other
Polypropylene End-use
Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
- Automotive
- Building & Construction
- Packaging
- Medical
- Electrical & Electronics
- Others
Polypropylene Regional
Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- Central and South America
- Brazil
- Argentina
- Middle East and Africa
- Saudi Arabia
- UAE
List of Key
Players of Polypropylene (PP) Market
- Lyondellbasell Industries Holdings B.V.
- SABIC
- BASF SE
- Eastman Chemical Company
- LG Chem
- Exxon Mobil Corporation
- China Petrochemical Corporation
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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