Pune, India, February 28, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Polypropylene Market.
Polypropylene is a thermoplastic polymer which is used for designing molded materials and fibers. It has various significant properties such as mechanical and chemical resistance along with translucent features. It is used to provide flexibility, comfort, and aesthetic value to the product.
The global polypropylene market has been driven by its growing consumption in various sectors such as agriculture, automotive, construction, packaging, electrical & electronics, and others. Moreover, it is estimated that the automotive segment is set to witness the highest growth in the market due to rising substitution of heavy metals by lightweight materials.
The global polypropylene market is segregated into application. On the basis of application, the market is further categorized into agriculture, automotive, construction, packaging, electrical & electronics, and others. The automotive sector is the leading segment in the market owing to growing substitution of heavy metals by lightweight materials in order to improve the thermal efficiency and optimal performance of the vehicles. It is predicted that an increased use of plastics in irrigation pipes is set to drive the agriculture segment during the assessment period. A significant growth is witnessed in the packaging segment due to growing adoption of lightweight materials because they provide excellent flexibility and sufficient storage space to the product. The electrical & electronics segment is set to grow at a higher rate due to the growing consumption of low density materials in manufacturing various devices such as smartphones, laptop, TVs, and other accessories. The polypropylene materials are used in these devices to act as an insulator to counteract high thermal conditions generated in the product. Therefore, recyclability, reliability and energy efficiency are the important factors which are prompting the manufacturers and investors to shift their focus from heavy metals to low density materials.
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The global polypropylene market is spanned across five key regions of the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance due to the rising demand for polypropylene in various applications. Countries such as China, Japan and India are the major players in this region. The North America region is estimated to witness a higher growth in the U.S., Canada and Mexico owing to increasing demand for lightweight materials in aerospace, automotive, and energy sectors. A recognized growth is observed in the European region owing to the growing consumption of thermoplastic materials in automotive, aerospace, construction and buildings. Moreover, it is projected that the advancing research & development of product in the market has propelled this region to witness a significant growth in Germany, the U.K. and Italy.
The Middle East & Africa is estimated to observe a significant growth due to increasing production of polymers in oil & gas, petrochemical and automobile industries. Additionally, the growing demand of low density materials in architectural, energy, automotive, paints and coating industries is projected to boost the market in the Latin American region.
Some of the major players functioning in the global polypropylene market are The Dow Chemical Company (U.S.), LyondellBasell (U.S.), Exxon Mobil Corporation (U.S.), SABIC ( Saudi Arabia), INEOS (Switzerland.), LANXESS (Germany), Chevron Phillips Chemical Company (U.S.), Eni S.p.A. ( Italy), BASF SE ( Germany), and LG Chem ( South Korea) among others.