Global Polypropylene (PP) Market Report 2023
Exponentially Rising Demand for Electric and Hybrid Vehicles Fuels Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “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” report has been added to ResearchAndMarkets.com’s offering.
The global Polypropylene (PP) market stood at approximately 70 million tonnes in 2021 and is expected to grow at a healthy CAGR of 5.48% during the forecast period until 2030.
Recently, Nayara Energy laid the foundation of a new petrochemical project at Vadinar, Gujarat, India. This Polypropylene plant which will have an annual capacity of 450 thousand tonnes of polypropylene is estimated to be finished in 2023.
The packaging industry dominates the Polypropylene market and is the most widely used plastic for packaging and largely used in food packaging applications. The increasing demand for Polypropylene by the automotive industry is expected to boost the Polypropylene market in the forecast period.
As polypropylene is a low-cost material with excellent mechanical properties, more than half of the plastic is used in the automotive sector for bumpers, instrumental panels, door trims, etc.
Exponentially rising demand for electric and hybrid electric vehicles (EV/HEV) is further propelling the demand for Polypropylene and is likely to augment the market growth in the future. The surging demand for Polypropylene from building & construction and electricals & electronics industries for insulation purposes is expected to accelerate the Polypropylene market over the next few years. The global Polypropylene (PP) market is anticipated to reach approximately 110 million tonnes by 2030.
Polypropylene (PP), also known as Polypropene, is a thermoplastic ‘addition’ polymer, produced from the polymerization of propylene monomers. Polypropylene belongs to the group of Polyolefins and is rigid, tough, crystalline, and non-polar in nature. After Polyethylene, Polypropylene is the second-most produced plastic. Polypropylene can be easily copolymerized with other polymers like polyethylene, which changes the material properties significantly, allowing for more robust applications and making it an ideal material for various end-use industries. Polypropylene possesses versatile properties such as high chemical resistance, fatigue resistance, high insulation, high elasticity and toughness, and high transmissivity.
The two major types of Polypropylene available in the market include Homopolymers (PPH) and Copolymers (PPC), which are widely utilized in packaging, healthcare, textiles, pipes, automotive, electrical, and other applications. Polypropylene is an important chemical commodity used in numerous industrial and household applications like the packaging of consumer products and manufacturing of plastic parts for end-user industries.
It is extensively used in the manufacturing of plastic moldings, ropes, carpets, rugs, ropes, roofing membranes, electrical insulators, etc. one of the most common applications for PP is as biaxially oriented polypropylene (BOPP), which are used to make a wide variety of materials including clear bags.
Asia Pacific is the dominating the Polypropylene (PP) market all across the globe. is anticipated to maintain its dominance in the forecast period until 2030. Growing demand for Polypropylene from the packaging and automotive industry, especially in emerging countries such as China, India, and Japan, is anticipated to drive the market in the Asia Pacific region. The rising demand for Polypropylene by the food and beverage industry in countries like U.S., Canada, and Mexico, will boost the Polypropylene market in North America.
Based on the end-user industry, the Polypropylene (PP) market is segmented into sectors like Packaging, Automotive, Infrastructure and Construction, Consumer goods, and Others. Among these, Packaging industry is leading segment and accounted more than 45% of the share of total Polypropylene (PP) demand in 2021. This industry is anticipated to dominate the global Polypropylene (PP) market owing to the growing demand of ready-to-eat food items in the forthcoming years.
Significant companies for Global Polypropylene (PP) market are 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.
Report Scope:
In this report, Global Polypropylene (PP) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by End-use: Packaging, Automotive, Infrastructure and Construction, Consumer goods, and Others.
- Market, by Sales Channel: Direct Sale and Indirect Sale
- Market, by Region: North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.
Key Topics Covered:
1. Capacity By Company
- On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Polypropylene (PP).
2. Capacity By Location
- To better understand the regional supply of Polypropylene (PP) by analyzing its manufacturers’ location-based capacity.
3. Capacity By Process
- To evaluate the demand of various methods and their capacities while looking for the future growth of each process.
4. Capacity By Technology
- To better assess the manufacturing capacities with different technologies as well as understand which technology is more in demand.
5. Production By Company
- Study the historical annual production of Polypropylene (PP) by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use
- Discover which end-user industry (Packaging, Automotive, Infrastructure and Construction, Consumer goods, and Others) are creating a market and the forecast for the growth of the Polypropylene (PP) market.
7. Demand by Region
- Analyzing the change in demand of Polypropylene (PP) in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
- Multiple channels are used to sell Polypropylene (PP). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry’s sales.
9. Demand-Supply Gap
- Determine the supply-demand gap to gain information about the trade surplus or deficiency of Polypropylene (PP).
10. Company Share
- Figure out what proportion of the market share of Polypropylene (PP) is currently held by leading players across the globe.
11. Country-wise Export
- Get details about quantity of Polypropylene (PP) exported by major countries.
12. Country-wise Import
- Get details about quantity of Polypropylene (PP) imported by major countries.
For more information about this report visit https://www.researchandmarkets.com/r/xe3n8k
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