(MENAFN- ChemAnalysts) According to ChemAnalyst report, “Global Polypropylene (PP) Market Analysis: Plant Capacity, Production, Process, Technology, Operating Efficiency, Demand & Supply, End-Use, Foreign Trade, Sales Channel, Regional Demand, Company Share, 2015-2030”, Polypropylene market has witnessed significant growth over the past years and reached 70 million tonnes in 2021 and is anticipated to achieve a healthy global CAGR of 5.48% in the forecast period until 2030.
Rapidly increasing demand for high-quality plastic by various end-user industries including Packaging, Automotive, Infrastructure and Construction, Consumer goods, and Others is likely to boost the Polypropylene market across the globe in upcoming years. Rising demand from the flourishing packaging industry as a result of the ascending consumption of packed food and beverages will further propel the global polypropylene market in the future. The production of Polypropylene is highly associated with the safety concerns on environment and human health before it can be manufactured and introduced in the market around.
Polypropylene (PP), also known as Polypropene, is a thermoplastic polymer which is produced from the polymerization of propylene monomers in the presence of Ziegler-Natta or metallocene catalyst. Polypropylene is tough, rigid, non-polar and crystalline in nature. Polypropylene is the second-most widely produced plastic after Polyethylene. Polypropylene can be easily copolymerized with other polymers including polyethylene, which significantly changes the material properties, allowing for more robust applications and making it a versatile material for various end-use industries.
Polypropylene is a versatile polymer that possesses excellent properties such as high stress resistance, high chemical resistance, high insulation, high elasticity and toughness, and high transmittivity. It is an important commodity plastic used in numerous household and industrial applications like the packaging for consumer products, plastic parts for various industries including the automotive, consumer goods, textiles, medical, and others. There are two different kinds of Polypropylene- Polypropylene Homopolymers (PPH) and Polypropylene Copolymers (PPC). These polymers are widely utilized in packaging, healthcare, textiles, automotive, electrical, and other applications. Polypropylene is extensively used in the manufacturing of plastic moldings, roofing membranes, electrical insulators, ropes, carpets, rugs, ropes, etc. one of the most common applications for PP is as biaxially oriented polypropylene (BOPP), which are used in the making of variety of materials including clear bags, etc.
Global Polypropylene Market is segmented on the basis of end-use, sales channel and region On the basis of end-use industry, the Polypropylene market is segmented into Packaging, Automotive, Infrastructure and Construction, Consumer goods, and Others. The packaging industry dominates the global Polypropylene market as PP is the most widely used plastic, which mostly finds its application in food packaging.
The automotive industry's growing demand of Polypropylene is anticipated to accelerate the global Polypropylene market in upcoming years. As polypropylene is a low-cost material with versatile mechanical properties, a large number of plastic is used in the automotive sector for instrumental panels, bumpers, door trims; exponentially increasing demand for electric and hybrid electric vehicles (EV/HEV) is further propelling the demand of PP. Thus, the demand of PP by the automotive industry and is likely to drive the market growth in the future. Surging demand of Polypropylene from building & construction and electricals & electronics industries for insulation purposes is forecasted to boost the global Polypropylene market he next few years. Rising demand of Polypropylene from these end-use industries is driving the market growth of polypropylene across the globe.
Among different regions, the Asia Pacific region dominated the global Polypropylene market in the 2021 and is projected to maintain its dominance over the projected period. Rapidly increasing demand for Polypropylene from the packaging and automotive industry, especially in emerging economies like China, Japan, and India is expected to drive the Polypropylene market in the Asia Pacific region. Growing demand of Polypropylene for Building and construction activities in the Asia Pacific region will further accelerate the Polypropylene market worldwide in the future. Surging demand of Polypropylene by the food and beverage industry in countries like U.S., Canada, and Mexico, will augment the Polypropylene market in North America.
“Global Polypropylene (PP) Market Analysis: Plant Capacity, Production, Process, Technology, Operating Efficiency, Demand & Supply, End-Use, Foreign Trade, Sales Channel, Regional Demand, Company Share, 2015-2030”, some of the major players operating in Polypropylene market include Braskem, Reliance Industries Limited, ExxonMobil Chemical, LyondellBasell, Borouge, Shenhua Ningxia Coal Industry, Total Petrochemicals, Prime Polymer Co., Ltd., Indian Oil Corporation Limited, SABIC Europe, Zhejiang Petrochemical, Sinopec KPC PC JV, INEOS, Japan Polypropylene Corporation, Saudi Polyolefins, and Petrochina Dushanzi Petrochemical.
“Rapidly growing demand of Polypropylene from the flourishing packaging and automotive industry, in emerging economies like China, Japan, India, and others is likely to boost the global Polypropylene market in the Asia Pacific region. The properties of Polypropylene like water-resistance and high flexibility drives its application in the Packaging industry, which is the major driver of the Polypropylene market and anticipated to further expand in the forecast period till 2030. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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