Polypropylene Market to reach $124410 million by 2026 – Global Insights on Share, Price Trend, Key Stakeholders, Value Chain Analysis, Drivers, Restraints and Business Opportunities: Proficient Market
Proficient Market announces the release of the report “Global Polypropylene Market by Communication Infrastructure (Homopolymer, Copolymer) and by End-Users (Packaging, Automotive, Building & Construction, Medical) Global Market Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2015 – 2027″ to its research database. This Polypropylene Market report analyzes the comprehensive overview of the market comprising an executive summary that covers core trends evolving in the market.
According to the report, Global Polypropylene Market in 2018 stood at USD 75400 million and is expected to reach USD 124410 million by 2026 growing at a CAGR of 6.5% from 2019 to 2026.
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Polypropylene (PP) is a thermoplastic hydrocarbon polymer which is also known as polypropene and has highest molecular weight. Polypropylene (PP) offers exceptional chemical and electrical resistance at high temperatures and it can be characterized as a semi-rigid and translucent material that is used in various end-use industries like manufacture of laboratory equipment, construction, automobile, geotextiles, medical, packaging, carpeting, electrical and electronics industries. Opportunities are emerging in the use of eco-friendly materials, as such, demand for bio-based polypropylene is on the rise. Volatile prices of polypropylene, largely dependent on crude oil are the restraining factors for global polypropylene market. Polypropylene has various properties like resistance to chemicals, low specific gravity, low moisture absorption rate, high stiffness and high-temperature and good process ability via injection moulding and extrusion.
Polypropylene Market Key Players: The research study includes profiles of leading companies operating in the global polypropylene market. Key players profiled in the report include:
Exxon Mobil Corporation
Formosa Plastics Group
China Petrochemical Corporation
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Drivers for the Global Polypropylene Market: Rising demand for polypropylene from food packaging and automobile industries is the major factor that is boosting the growth of the polypropylene market. Along with this, expansion in building and construction industry is positively influencing the growth of Polypropylene market. In addition to this, increasing awareness regarding sustainability of natural resources and major companies are making huge investments on technological innovation is also driving the demand for Polypropylene.
Opportunities for the Global Polypropylene Market: High demand for the plastics that do not contain Bisphenol A (BPA), Bisphenol is an endocrine disruptor that leads to various health problems such as diabetes, heart diseases, etc. is one of the major factor that is fuels the growth of Polypropylene market over the forecast period. Rise in the use of eco-friendly materials, like demand for bio-based polypropylene is on the rise that boost the growth of Polypropylene market in the forecast period.
Restrains for the Global Polypropylene Market: Fluctuating prices of the raw material i.e. propylene required for formation of Polypropylene, is one of the major factor restraining growth of the polypropylene market. Along with this, availability of alternative for polypropylene is another factor that hampering the growth of the Polypropylene market. In addition to this, stringent environmental regulations on disposal of plastics is also the factor that hampers growth of the polypropylene market.
Region Wise, Global Polypropylene Market Analysis: On the basis of region, the AIOps market is segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific holds the largest share in the market because of increasing disposable income and changing lifestyles, technological advancements and speedy development in the automotive and packaging industries. Europe is also having maximum share in the market due to rising demand for Polypropylene in pharmaceuticals, electronics, automotive, and food and beverages followed by North America.
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Global Polypropylene Market: Product analysis
On the basis of type, Homopolymer accounted for largest share of total revenue generated, because it provides a high strength to weight ratio, it is excellent chemical resistance, it has corrosion resistant structures and used in applications that requires high temperature resistance, like hot filling and steam sterilization.
Global Polypropylene Market: Application analysis
Building & Construction
The demand of Global Polypropylene Market is highest from packaging, because growing e-commerce activities is raising the demand for polypropylene, polymer’s exceptional welding qualities and chemical resistance properties.
Global Polypropylene Market Market: Region analysis
North America: U.S., Canada, Mexico
Europe: U.K., France, Germany, Spain, Italy, Rest of Europe
Asia Pacific: China, Japan, South Korea, ASEAN, India
Rest of Asia Pacific: Latin America, Brazil, Argentina, Colombia, Rest of L.A.
Middle East and Africa: Turkey, GCC, UAE, South Africa, Rest of Middle East
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