The latest research study by IMARC Group, “Polypropylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on Polypropylene market price. The market to reach US$ 155.69 Billion by 2027, exhibiting a growth rate (CAGR) of 4.12% during 2022-2027.
Polypropylene (C3H6) n, also referred to as polypropene, represents a flexible and crystalline thermoplastic resin acquired by the polymerization reaction of propylene gas and a catalyst. It provides resistance against heat, chemicals, and extreme temperatures, which makes it secure to design plastic casings in cables, electrical appliances, and piping systems. Additionally, polypropylene has flexible strength and resistance to bacteria, mold, moisture, and chemical corrosion, making it ideal for medical usage, especially sterilization methods. As a result, this substance is extensively utilized in injection molding applications as (C3H6) n is easily set into various shapes without altering the original product quality.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Polypropylene Market Trends and Drivers:
The escalating product need, owing to its excellent dielectric strength, insulating properties, and arc resistance, is among the primary factors driving the polypropylene market. In addition, the elevating requirement for (C3H6) n in the automotive industry to manufacture lightweight, energy-efficient, and cost-effective vehicles is further augmenting the market growth. Moreover, the emerging trend of online shopping and food ordering is propelling the need for effective packaging materials made with polypropylene, on account of its low density, durability, and heat resistance properties, which is also catalyzing the global market. Apart from this, the growing product popularity in the food and beverage (F&B) sector, as it minimizes deterioration and retains the authentic flavor of meals, is acting as another significant growth-inducing factor. In addition, the increasing need for this substance in the healthcare industry for manufacturing safety kits, such as medical masks and gowns, owing to the rising prevalence of infectious diseases, is also stimulating the market growth. Furthermore, the extensive utilization of (C3H6) n in several construction activities, including air and moisture barrier membranes, carpet textiles, piping systems, and insulating building wraps, is expected to bolster the polypropylene market in the coming years.
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Polypropylene Market Report Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
BASF SE, China Petrochemical Corporation, Daelim Co. Ltd, Exxon Mobil Corporation, Formosa Plastics Corporation, HPCL-Mittal Energy Limited (HMEL), INEOS, LG Chem Ltd., LyondellBasell Industries N.V., Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Sumitomo Chemical Co. Ltd., TotalEnergies SE, Trinseo PLC and Westlake Corporation.
The report has been segmented the market into following categories:
Breakup by Type:
Breakup by Process:
- Injection Molding
- Blow Molding
Breakup by Application:
- Film and Sheet
Breakup by End User:
- Building and Construction
- Electrical and Electronics
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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