Global Polypropylene Market to Exceed $159 Billion by 2028, Fueled by e-Commerce Boom and Sustainability Focus – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Polypropylene Market Analysis and Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global polypropylene market, valued at US$116.79 billion in 2022, is projected to reach US$159.66 billion by 2028, with a compound annual growth rate (CAGR) of 5.35% during the forecast period of 2023-2028. Polypropylene, a thermoplastic polymer, is widely used in various industries due to its advantageous properties and ability to be molded into different shapes without material deterioration.
Market Segmentation:
- By Type: The market is divided into two types: Homopolymer Polypropylene and Copolymer Polypropylene. Homopolymer polypropylene, the most common form, offers excellent stiffness and strength properties suitable for automotive parts, packaging, and consumer goods.
- By Industry: Eight industrial verticals are identified: Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Electrical & Electronics, Agriculture, Healthcare & Pharmaceuticals, and Others. The packaging segment dominates the market due to the growing food and beverages industry and increased demand for environmentally friendly packaging.
- By Application: Six application segments include Injection Molding, Film & Sheet, Raffia, Fiber, Blow Molding, and Other. The film & sheet segment is expected to grow rapidly due to its extensive use in packaging, providing excellent clarity, stiffness, and moisture resistance.
- By Region: The market is divided into Asia Pacific, North America, Europe, and Rest of the World. Asia Pacific holds the largest market share due to its affordable polypropylene pricing and increased demand for packaging materials in the region.
Global Polypropylene Market Dynamics:
- Growth Drivers: The rise in e-commerce sales has significantly increased the demand for polypropylene in packaging materials. Additionally, factors such as automobile production, urbanization, demand for plastic, packaged food, and disposable income contribute to market growth.
- Challenges: Fluctuating crude oil prices, the primary raw material for polypropylene, and the availability of substitutes can negatively impact market growth.
- Trends: Technological advancements in production processes, such as the use of metallocene catalysts, are enhancing the quality and efficiency of polypropylene production. Other trends include the application of polypropylene in agriculture and a growing focus on sustainability.
Impact Analysis of COVID-19 and Way Forward
The COVID-19 pandemic led to a decline in polypropylene demand due to global lockdowns and reduced economic activity. However, as economies recover, industries like automotive, construction, and consumer goods are driving the rebound in demand for polypropylene-based products. The post-COVID era emphasizes sustainability, benefiting polypropylene as a recyclable material, especially with initiatives promoting the circular economy and plastic recycling.
Key Topics Covered
1. Executive Summary
2. Introduction
2.1 Polypropylene: An Overview
2.2 Polypropylene Segmentation: An Overview
2.2.1 Polypropylene Segmentation
3. Global Market Analysis
3.1 Global Polypropylene Market: An Analysis
3.2 Global Polypropylene Market: Type Analysis
3.3 Global Polypropylene Market: Industry Analysis
3.4 Global Polypropylene Market Demand: An Analysis
3.5 Global Polypropylene Market Demand: Application Analysis
3.6 Global Polypropylene Market Production Capacity: An Analysis
4. Regional Market Analysis
4.1 Asia Pacific Polypropylene Market: An Analysis
4.2 Europe Polypropylene Market: An Analysis
4.3 North America Polypropylene Market: An Analysis
4.4 Rest of the World Polypropylene Market: An Analysis
5. Impact of COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on Polypropylene Market
5.1.2 Post COVID Scenario
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Upsurge in E-Commerce Sales
6.1.2 Escalating Automobile Production
6.1.3 Rapid Urbanization
6.1.4 Upsurge in Demand for Plastic
6.1.5 Increase in Demand for Packaged Food
6.1.6 Surge in Disposable Income
6.2 Challenges
6.2.1 Fluctuating Crude Oil Prices
6.2.2 Availability of Substitutes
6.3 Market Trends
6.3.1 Surging Application of Polypropylene in Agriculture
6.3.2 Growing Focus on Sustainability
6.3.3 Technological Advancements in Production Processes
7. Competitive Landscape
7.1 Global Polypropylene Market Players: Financial Comparison
7.2 Global Polypropylene Market Players: Production Capacity
8. Company Profiles
8.1 LyondellBasell Industries
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy
8.2 SABIC
8.3 Repsol Group
8.4 ExxonMobil Corporation
8.5 Mitsubishi Chemical Group Corporation
8.6 INEOS Group Holdings SA
8.7 LG Chem Ltd.
8.8 Braskem SA
8.9 Ensinger GmbH
8.10 China National Petroleum Corp (CNPC)
8.11 RTP Company
For more information about this report visit https://www.researchandmarkets.com/r/ctai39
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