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Polypropylene-Plastic Material And Resins Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Polypropylene-Plastic Material And Resins Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, September 3, 2024 /EINPresswire / -- The polypropylene-plastic material and resins market has experienced robust growth in recent years, expanding from $139.82 billion in 2023 to $153.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to packaging industry, automotive sector, consumer goods, construction and building materials.
Strong Future Growth Anticipated
The polypropylene-plastic material and resins market is projected to continue its strong growth, reaching $217.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to sustainable and recyclable materials, renewable energy and electric vehicles, packaging innovation, advanced healthcare devices. Major trends in the forecast period include bio-based polypropylene, advanced additive manufacturing, high-performance formulations, smart materials.
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Growth Driver Of The Polypropylene-Plastic Material And Resins Market
The rising demand for automotive sector is expected to propel the growth of the polypropylene-plastic material and resins market going forward. Automotive sector refers to the collection of companies, organizations, and businesses involved in the design, development, manufacturing, marketing, and sale of motor vehicles used to manufacture a variety of interior components, including dashboard panels, door trims, center consoles, and instrument panels. Its lightweight nature and ability to be molded into complex shapes make it ideal for interior design.
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Major Players And Market Trends
Key players in the polypropylene-plastic material and resins market include LyondellBasell Industries Holdings BV, China Petroleum & Chemical Corporation, SABIC innovations Plastics US LLC, ExxonMobil Chemical Company, Braskem, PetroChina Company Limited, Reliance Industries Limited, Formosa Plastics Corporation, Borealis AG.
Major companies operating in the polypropylene-plastic material and resins market are innovating new technologies such as polypropylene technologies to increase their profitability in the market. Polypropylene (PP) technology refers to the processes, methods, and techniques used in the production, processing, and modification of polypropylene plastic.
Polypropylene-Plastic Material And Resins Market Segments :
1) By Product Type: Homopolymer, Copolymer
3) By Application: Fiber, Film and Sheet, Raffia, Other Applications
2) By End User Industry: Packaging, Automotive, Consumer Products, Electrical and Electronics, Other End-user Industry
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the polypropylene market in 2023. North America was the second-largest region in the global polypropylene market. The regions covered in the polypropylene-plastic material and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Polypropylene-Plastic Material And Resins Market Definition
Polypropylene is a thermoplastic polymer produced by chain-growth polymerization of the monomer propylene and is used in automotive fittings and industrial fibers. It is resilient, resistant to fatigue, and highly resistant to most acids and alkalis.
The main product types of polypropylenes are homopolymer and copolymer. A homopolymer is a polymer-like polyethylene that contains identical monomer units. The applications are fibre, film and sheet, raffia, and other applications. The end-use industries are packaging, automotive, consumer products, electrical and electronics, and other end-user industries.
Polypropylene-Plastic Material And Resins Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Polypropylene-Plastic Material And Resins Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on polypropylene-plastic material and resins market size, polypropylene-plastic material and resins market drivers and trends, polypropylene-plastic material and resins market major players, polypropylene-plastic material and resins competitors' revenues, polypropylene-plastic material and resins market positioning, and polypropylene-plastic material and resins market growth across geographies. The polypropylene-plastic material and resins market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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About The Business Research Company
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