(MENAFN- America News Hour) Research Nester published a report titled
“Polypropylene Random Copolymers Market: Global Demand Analysis & Opportunity Outlook 2035”
which delivers detailed overview of the global polypropylene random copolymers market in terms of market segmentation by application, end use, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global polypropylene random copolymers market is projected to grow at a CAGR of ~6% over the forecast period, i.e., 2023 – 2035. The market is expected to amass a global revenue of about USD 15 billion by the end of 2031, growing from around USD 9 billion in the year 2022. The global polypropylene random copolymers market is segmented by end use into packaging, healthcare, construction, and others. Of these sub-segments, the packaging division is expected to garner the largest revenue during the forecast period on the back of a thriving eCommerce business. It is estimated that over 2 billion people shopped online in the year 2022.
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The extensive use of polypropylene random copolymers in domestic as well as industrial applications is forecasted to drive the global polypropylene random copolymer market growth. They are the second-most produced plastic material around the world with about 65 million metric tons manufactured in the year 2020.
Geographically, the global polypropylene random copolymers market is categorized into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific is projected to grow the fastest of all the regions during the forecast period owing to a growing population, lifestyle changes, and the development of food and beverages industries.
According to the International Trade Administration (ITA), the food and beverage business in China grew by about ~8% from 2018 to attain USD 595 billion in 2019.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Growth in Healthcare Industry to act as a Major Driver for the Growth of the Global Polypropylene Random Copolymers Market
Polypropylene random copolymers are used in the healthcare industry to manufacture medical products such as syringes and containers.
The expansion in healthcare industry owing to a growing population as well as increasing incidence of disorders is anticipated to propel the global polypropylene random copolymers market growth. As per research,
the global healthcare industry earned almost USD 2 trillion in 2018 by growing at a rate of ~5%.
However, the limited use of polypropylene random copolymers in high-temperature applications and its flammability are expected to operate as key restraints to the growth of the global polypropylene random copolymers market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global polypropylene random copolymers market which includes company profiling of LyondellBasell Industries, China Petroleum, Entec Polymers, Chemical Corporation (Sinopec), Total S.A., Braskem, ExxonMobil, Chevron Corporation, Sasol, Royal Dutch Shell, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global polypropylene random copolymers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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