info@marketresearchfuture.com πŸ“ž +1 628 258 0071(US)  πŸ“ž +44 2035 002 764(UK)
Polypropylene Market Research Report- Forecast to 2030

Polypropylene Market Information: By Application (Agriculture, Automotive, Construction, Packaging, Electrical & Electronics) and Region - Forecast till 2030

ID: MRFR/CnM/0557-HCR | February 2021 | Region: Global | 138 pages

Polypropylene Market Speak to Analyst Request a Free Sample

Polypropylene Market Overview


Polypropylene Market is projected to be worth USD 200 Billion by 2030, registering a CAGR of 10% during the forecast period (2022 - 2030).


Polypropylene is a thermoplastic material used for the production of molded materials with fibers. It is a lightweight material and has a broad range of superior characteristics like excellent stiffness, product flexibility, superior working temperature, resistance to various chemical solvents, acids, bases, high tensile strength, staining resistance, and low moisture resistance which makes it ideal to use in various applications. As it provides excellent chemical and mechanical properties, it is highly preferable in the production of automotive components, medical devices, packaging & labeling, construction, and diverse laboratory equipment.  


Polypropylene can be melted and molded into any shape and size very easily without disturbing the original quality that making it extensively preferable in injection molding applications. It is frequently used plastic in the formation of automobiles. It is acceptable for effective food packaging solutions in the food and beverage industry, as it reduces the possibility of food deterioration and also has good moisture resistance.


COVID-19 Analysis:


The COVID-19 pandemic has spread all over the world and affects the number of people and a few of them cause death. To curb the spread of the virus, various governments imposed full or partial lockdowns which leads to a decline in the consumption of polypropylene and is severely impacted its demand in various applications. The manufacturers of polypropylene are facing a lot of issues like logistic restrictions, limitations on the movement of people, shortage of workers, and lack of raw materials which halts the production and causes a negative impact on the demand of the product.


Furthermore, specialized polypropylene is used in the healthcare sector for producing medical masks, gowns, and other safety kits are escalating the product demand in the review period. As the pandemic spread is rising throughout the world, work-from-home rules, shipping complications, and other cancellations are surging in the polypropylene industry. Due to these factors, the polypropylene market increases its demand rapidly in the forecast period.

Competitive Landscape


The prominent key players in the polypropylene market outlook are the following:



  • The Dow Chemical Company (U.S.)

  • LG Chem (South Korea)

  • Eni S.P.A. (Italy)

  • Chevron Philips Chemical Company (U.S.)

  • LyondellBasell (U.S.)

  • LANXESS (Germany)

  • SABIC (Saudi Arabia)

  • BASF SE (Germany)

  • Exxon Mobil Corporation (U.S.)

  • INEOS (Switzerland)


 Global Polypropylene Market share by application


 Polypropylene Market


Source: MRFR analysis

Market Dynamics:

Drivers:


Growing demand for lightweight plastics from consumer goods, automotive, and electronics industries is escalating the growth of the market. Increasing demand for efficient plastic packaging products and rising consumption of packaged food & beverages are propelling the demand for the market. Due to its easy processability, effective sealing, and stiffness, polypropylene is used in the production of interior and exterior parts of automobiles which fuels market growth.


Owing to their easy moldability and providing high durability and flexibility, these materials are used in the production of toys, fashion apparel, sports equipment, and others which is boosting the polypropylene market growth. Due to these superior properties, this product is highly demandable in the agriculture segment in the assessment period.


Restraint:


The availability of substitutes like polyethylene, polyurethane, polyethylene terephthalate, and polystyrene are hindering market growth.


Opportunities:


Polypropylene is used in the production of various devices such as automotive components, fashion apparel, profiles, and healthcare devices. Increasing demand for these components in several end-use industries, introducing advanced technologies, and shifting consumer preferences towards lightweight electronic products are creating lucrative opportunities to boost market growth.


Challenges:


The polypropylene production process is derived from petroleum crude oil. The fluctuations in the supply and pricing of crude oil may affect the cost structure of the final product which is a challenge to the market growth.


Study Objectives -



  • To provide depth information about the polypropylene market structure along with various forecast segments and sub-segments for the next 7 years.

  • To provide the factors that are affecting the growth of the polypropylene market value.

  • To analyze the polypropylene market industry factors price analysis.

  • To provide revenue segments and sub-segments of the polypropylene market revenue for the main geographies.

  • To provide the country-level analysis of the current polypropylene market size and future prospective.

  • To provide country-level analysis of the polypropylene market industry growth by region, form, end-user, and application.

  • To provide a deep profile of the prominent key players in the market, analyze their core competencies, and draw a global polypropylene market growth landscape.

  • To study new product developments, strategic alliances, mergers, acquisitions, and global polypropylene market research.


Segment Overview:


The global polypropylene market has been divided into segments based on type, application, end-user, and region.


Based on Type


The polypropylene market types are bifurcated into homopolymers and copolymers. Out of these two, the homopolymer segment is dominating the highest market share due to the increasing application of homopolymers in the production of various components like orthotic and prosthetic devices, secondary containments, pump components, and storage tanks in various industries like healthcare, automotive, and construction are surging the demand for this segment in the review period.


Based on Application


The polypropylene market applications are classified into a few types as fiber and raffia, injection molding, blow molding, along with film and sheets. Among them, the film and sheet segment is holding the maximum market share due to the growing application of the product in packaging materials, boxes, binders, and portfolios for its superior characteristics like excellent moisture barrier, better chemical resistance, high-temperature stability, and exceptional contract clarity.


Based on End-User


The global polypropylene based on end-user is categorized into various types as the medical sector, building sector, construction sites, packaging industries, electricals & electronics, and automotive industry. Due to the excellent polypropylene properties like high flexibility and the ability to survive in extreme conditions, the packaging industries segment is leading the market share.


Based on Region


Region-wise, the global polypropylene market is divided into five main geographies such as North America, South America, Asia-Pacific, Europe, and the Middle East & Africa. Among them, Asia-Pacific is dominating the largest market share for the increasing demand for the product in various sectors like automotive, building & construction units, packaging, and others. 


Regional Analysis -


Geographically, the polypropylene market based on regions is analyzed into five major regions like North America, South America, Asia-Pacific, Europe, and the Middle East & Africa. Out of these regions, Asia-Pacific is holding the maximum polypropylene market share for its increasing demand in various industries such as automotive, building & construction units, packaging, and others. The medical and healthcare facilities available in India and China drives a major role to increase the market demand in this region.


Due to the growth in the medical and electrical & electronics manufacturing industries, North America is expected to hold a moderate share of the global market. Rising demand for the packaging of food & beverages and the production of automobiles is boosting the demand for the product in the European region.

Recent Developments



  • October 2021: Braskem, the Americas' largest manufacturer of polyolefins and a market leader and pioneer in industrial-scale biopolymer production, announced the debut of its new high-visibility polypropylene (PP) filaments (FL105PP), the latest additions to Braskem's 3D product line. Braskem's new neon yellow and neon pink high visibility PP filaments are suited for safety and construction applications. Braskem was one of the first businesses to commercialize neon-colored polypropylene filament for safety and construction applications. These products build on the popularity of Braskem's standard PP filaments by incorporating all of the same material properties, such as lightweight, water and chemical resistance, and impact resistance, but in a highly noticeable hue. Along with these new high-visibility colors, Braskem introduced new black and green polypropylene filaments (FL105PP).

  • Carling - Saint - Avlod petrochemical complex located in Eastern France opted for expansion opportunities in May 2017 and also the company began commissioning the production of compound polypropylene along with hydrocarbon resins.

  • INEOS announced its initiative for the construction of a PDH unit in the European nations. The plant is expected to begin with produce as many as 750,000 tonnes of propylene. This is a great opportunity for the company to expand and support its global growth by the end of the global forecast period in 2027

  • SABIC is on its way to the company’s global expansion and thus set up a new production plant located in Geleen, Netherlands. The company will cater to the emerging demand for these materials. The expansion process began back in September 2017.


Report Overview:


This global polypropylene market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the polypropylene market drivers, restraints, challenges, and opportunities. The polypropylene market forecast segments into four forms as type, application, end-user, and region.


Segmentation Table


The polypropylene market trends have been segmented into four forms globally based on the type, application, end-user, and region.


By Type


Homopolymers and copolymers are the two types of the global market.


By Application


Fiber and raffia, injection molding, blow molding, along film and sheets are the few applications of the market.


By End-user


The medical sector, building sector, construction sites, packaging industries, electricals & electronics, and automotive industry are the various end-use industries.


By Region


Asia-Pacific, Europe, North America, South America, and the rest of the world are the five main geographies included in the polypropylene market.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 146 Billion
  CAGR   2022–2030: 3.0% CAGR
  Base Year   2021
  Forecast Period   2022Β toΒ 2030
  Historical Data   2019Β &Β 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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.
  Key Market Opportunities   Excellent stiffness, flexibility and lightweight properties are the important trends and factor.
  Key Market Drivers   The growing demand from packaging segment is predicted to witness a rapid growth


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

Agricultural products, automotive fittings, construction products, insulation for use in electrical and electronic products, packaging products, and others.

The leading application of polypropylene is in agriculture, which held a 32% share in the global polypropylene market in 2016.

Increasing the use of plastic components in automotive design and the growing demand for packaging materials.

LANXESS, SABIC, Dow, LyondellBasell, and Chevron Phillips.