Polypropylene Market Size, Share & Industry Analysis, By Type (Homopolymer, Copolymer), By Application (Blow moulding, Injection moulding, Fibre & raffia, Film & sheet, Others) By End-User Industry (Automotive, Packaging, Building and Construction, Medical, Others) and Regional Forecast, 2023-2030

The global polypropylene market size expected to grow with significant CAGR forecast 2026. Polypropylene is a type of thermoplastic linear hydrocarbon polymer, produced via chain-growth polymerization from its monomer propylene. It is partially crystalline and belongs to a group of polyolefin. Polypropylene being a flexible product has a wide variety of applications such as automobile, moulding, films, Fibres and laboratory equipment manufacturing. It is easy to modify without degrading the original quality. Growing demand from end use industries had led to increase in production of polypropylene production capacities.

On the basis type, polypropylene is segmented into homopolymer and copolymer. A copolymer is formed when monomer subunits are randomly linked together to form a unit. Copolymers are more popular than homopolymers due to varying properties such as modifying properties, high flexibility for manufacturing plastics. Compared to homopolymers, polypropylene copolymers are predicted to have higher growth in the forecast period.

Key Market Driver -

Key Market Driver – Rising Demand in automotive for light-weighing vehicles.

Key Market Restraint -

Key Market Restraint – Volatile prices of polypropylene.

On the basis of application, polypropylene is segmented into four applications such as blow moulding, injection moulding, fibre & raffia, and film & sheet. The largest application of polypropylene is in the injection moulding segment, as it can be easily melted, moulded and then solidified without disturbing the original qualities. Design flexibility, good colour and dimension control are qualities of polypropylene that will drive its demand from various application, during the forecast period.

On the basis of end use industry, polypropylene market can be segmented within packaging, automotive, building & construction and medical. Among these, packaging segment holds the leading position due to its properties such as resistance to high temperature, twist retention and toughness making it an ideal material for packaging. In addition, polypropylene is greatly used for food packaging as it does not react with the food.

The key market drivers, there has been a significant demand in the automobile and electronics industries due to increased production for lighter vehicles is helping in technology advancement and creation of more cost and oil efficient vehicles. Electronics market is estimated to boom in coming years because of increasing demands for use of mobile phone and computers.

The key market restraints are volatile prices of polypropylene as they are greatly depended on a single raw material, crude oil. These volatile prices are further expected to affect the manufacturing in automotive and packaging end use industries.

Key Players Covered:

Some of major companies in the global polypropylene market includes Sasol, SABIC, PetroChina Company Limited, LyondellBasell, DuPont, Braskem, Borealis AG, Reliance Industries, Bayer, BASF, INEOS and Formosa Plastics.

Regional Analysis:

On geographical basis polypropylene market is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Among which Asia Pacific being the largest consumer of polypropylene due to high demand from automotive, construction and packaging industries. India, China and Japan are the major countries in this region. North America is predicted to have increased demand for polypropylene from electrical & electronics and medical end use industries. Demand in Europe is also predicted to have rapid growth due to the rising demand for light weighing of vehicles from the automotive industry.

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Additionally, technological advancements in the countries such as U.K., Germany and France are expected to provide growth opportunities for propylene market in Europe. Moreover, the markets of Latin America, Middle East & Africa are anticipated to witness a gradual growth due to increased demand in packaging, electrical & electronics, and consumer goods industries.

Segmentation

Key Industry Developments

• In November 2018, Braskem declared eight initiatives for plastic sector that included a process for reducing the order of recycled resins residue without affecting the properties of polyolefin. This process would help the company to efficiently recycle polypropylene resin.
• June 2019, borealis has offered support to its value chain partners to shift their use of polymers from conventional polystyrene to viable polypropylene alternatives for sustainable foam and rigid packaging.
• In February 2018, Formosa Plastics has planned to expand its annual production capacity for polypropylene from 450 KT to 522 KT at its Ningbo plant, by 2019.
• In September 2017, Lyondell Basell started a new polypropylene compounding plant with production capacity of 20 KT in Dalian, China. This expansion is intended to meet the growing polypropylene demands in china’s automotive industry.