Published: June 2020 | Report Code: CM10081 | Available Format: PDF | Pages: 180
The polypropylene market value was $122.7 billion in 2019, and the market is predicted to advance at a CAGR of 5.7% between 2020 and 2030. This is credited to the soaring usage of polypropylene in sweet & snack wrappers, microwave containers, food packaging, hinged caps, automotive parts, banknotes, and pipes.
The COVID-19 pandemic has slowed down the expansion of various industries, especially in Italy, the U.S., the U.K., China, Germany, Spain, and many other Western European countries. This has subsequently affected the production and supply of various products, particularly plastics, such as polypropylene. However, the pandemic is also creating opportunities for the industry players to offer N95 masks made from nonwoven polypropylene, as well as plungers and gloves made from this common polymer.
The homopolymer category held the larger share in the market in 2019, under the product type segment. This was because this material exhibits higher rigidity and a greater tolerance to chemical exposure and extreme temperatures than polypropylene copolymers. The other key factors driving the growth of this category in the polypropylene market are the material’s good weldability and better performance in thermoforming than copolymers and the fact that it has received approval from the U.S. Department of Agriculture (USDA), National Science Foundation (NSF), and Food and Drug Administration (FDA) and demonstrates the 3-A Diary compliance regarding natural color attributes.
Because of these factors, the material is heavily used in plating & anodizing process equipment, orthotic & prosthetic devices, pump components, secondary containment, plenums & manifolds, storage tanks, metal finishing, valve bodies, medical devices, washers, and chemical processing & storage.
The copolymer category is further classified into block and random. Of these, the block copolymer is witnessing the higher demand on account of its lower brittleness and higher toughness than the random copolymer.
The raffia category is predicted to demonstrate the fastest growth in the market for polypropylene in the coming years, on the basis of application. This is ascribed to the mushrooming requirement for industrial packaging materials produced from weaved ribbons, such as cement sacks, because of their high elongation and tenacity. Additionally, polypropylene granules have a high thermal conductivity, which allows raffia to cool down and heat up faster. As raffias produce a smaller carbon footprint than virgin polymers, their end products are sustainable and eco-friendly.
The packaging category is predicted to contribute the highest revenue to the polypropylene market in the forthcoming years, under segmentation by end use. This is mainly attributed to the soaring requirement for food packaging materials that come into direct contact with the food and beverage items. Polypropylene is highly resistant to several chemical solvents, as it is a rugged polymer; therefore, it is considered safe for packaging containers, such as thermoformed pots, thermoformed trays, and injection-molded pots. Furthermore, it has high heat resistance, recyclability, high clarity, aesthetics, and several other traits that make it ideal for packaging materials.
APAC generated the highest revenue in the market for polypropylene in 2019. Moreover, the market will grow the fastest in this region in the upcoming years. This will be because of the growing usage of polypropylene in the consumer & institutional, furniture & furnishings, transportation, packaging, machinery, electrical & electronics, and building & construction industries. Because of its low cost, high moldability, and excellent mechanical properties, polypropylene is extensively used for reducing the weight of vehicles and enhancing their fuel economy.
With the rapidly rising requirement for thermoplastic materials in the medical, automobile, and construction & building sectors, the industry will exhibit huge expansion in the region in the coming years. Furthermore, the region is home to several leading polypropylene market players, such as Exxon Mobil Corporation, Washington Penn, A. Schulman, Ferro Corporation, and PolyOne Corporation.
In APAC, the largest revenue share in the market was held by China in 2019 on account of its large population, rapid technological advancements in the plastics industry, and high urbanization rate in the country. Apart from these factors, the excellent extrusion and moldability characteristics of polypropylene have also contributed to the expansive nature of the market in the country.
According to PlasticsEurope, the total plastics production across the globe in 2018 was 359 million tons. This was due to the huge requirement for plastics in the building & construction and packaging industries. Furthermore, out of the different types of plastics, polypropylene held the largest share in the worldwide sales, of 19.3%, mainly because of its large-scale usage in sweet & snack wrappers, microwave containers, hinged caps, food packaging, automotive parts, banknotes, and pipes.
Moreover, retailers and brand owners are increasingly using sustainable packaging materials produced from polypropylene resin due to the soaring consumer requirements for eco-friendly packaging materials. Hence, the mushrooming demand for sustainable packaging is fueling the expansion of the polypropylene market across the world.
As per an article produced in the International Fiber Journal, 14.9 million tons of nonwoven roll goods were used around the world in 2018. Staple fibers accounted for a 59% share in the global nonwoven market. Moreover, the share of polypropylene staple fibers was 11% in the market; polypropylene staple fibers accounted for nearly 1.0 million tons of the total nonwoven roll goods consumed around the world. This is ascribed to the huge requirement for polypropylene staple fibers in various end-use applications, such as the needle punch durables that are used in vehicle components, geotextiles, indoor & outdoor carpeting, coating substrates, upholstered furnishing, bedding, and blankets. These factors are driving the growth of the polypropylene industry.
|Base Year (2019) Market Size||$122.7 billion|
|Forecast Period (2020-2030) CAGR||5.7%|
|Report Coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Company Share Analysis, Companies’ Strategical Developments, Product Benchmarking, Company Profiling|
|Market Size by Segments||By Type; By Application; By End Use; By Geography|
|Market Size of Geographies||U.S., Canada, Germany, Italy, France, U.K., Spain, Poland, Belgium & Luxembourg, Netherlands, Russia, China, India, Korea, Japan, Thailand, Mexico, Brazil, Argentina, Saudi Arabia, U.A.E., Turkey, Iran, Africa|
|Secondary Sources and References (Partial List)||All India Plastic Manufacturers Association, American Chemistry Council, Association for Packaging and Processing, Association of Plastic Recyclers, Chemicals & Petrochemicals Manufacturer’s Association, Food and Drug Administration, Germany Trade & Invest, Independent Packaging Association|
As per the global outlook, the polypropylene market is consolidated in nature with presence LyondellBasell Industries N.V., China Petroleum & Chemical Corporation, PetroChina Company Limited, Braskem S.A., Borealis AG/Borouge, SABIC, Exxon Mobil Corporation, and Reliance Industries Limited.
In recent years, players in the industry have launched a number of new and advanced products, in order to stay ahead of their competitors. For instance:
The polypropylene market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
Based on Application
Based on End Use
The polypropylene market will likely witness a CAGR of 5.7% during the forecast period, to reach $226.8 billion by 2030.
The negative impact of COVID-19 on the polypropylene market has been weak because of the rising demand for PP gloves, N95 masks, and plungers.
In 2030, the polypropylene market will be led by the packaging industry, based on end user.
The key drivers for the polypropylene industry advance in APAC are its high industrial output and presence of key players.
LyondellBasell Industries N.V. was the largest player in the polypropylene market in 2019.
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