The global polypropylene market size was estimated to be US$ 110 billion in 2019 and is expected to reach US$ 155 billion by 2030 at a CAGR of 3.2% through 2030.
Polypropylene is a thermoplastic polymer produced by catalytic polymerization of propylene. It possesses good tensile strength, strong chemical resistance and high surface hardness, and thus is used for manufacturing of wide range of industrial, commercial and residential products. Polypropylene is widely used in the production of rigid packaging, industrial containers, furniture, automotive components, industrial components, and so on. The demand for polypropylene has increased significantly during past decade owing to increased adoption in the packaging of food & beverages, manufacturing of automotive components, furniture, health & hygiene products, and other similar products.
However, rising concerns regarding hazards of polypropylene on environment, growing awareness regarding environment protection, and implementation of stringent regulations is anticipated to hinder the growth of the global polypropylene market. Amidst the COVID-19 pandemic, the demand for polypropylene has eroded significantly due to disruption in logistics and production activities across major manufacturing countries. With collaborative efforts to revamp the manufacturing activities and supply chain & logistics applications, the polypropylene market is anticipated to gain traction in coming years. The global polypropylene market is expected to grow steadily during the forecast period.
Asia Pacific contributed a comminating share to the global polypropylene market in 2019 and is expected to be the fastest growing segment during the forecast period owing to expanding building & construction, automotive, food processing and consumer electronic industries across major countries in Asia. Presence of leading polypropylene manufacturers across the region and wide manufacturing industry is anticipated to contribute towards the growth of Asia Pacific polypropylene market in coming years. North America contributed a prominent share to the global market and is expected to grow steadily during the forecast period.
Polypropylene Market Share Analysis, by Geography (2022)
The report titled “Polypropylene Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period.
Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global polypropylene market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global polypropylene market is segmented on the basis of type, application, end use industry, and geography. Based on type, the global polypropylene market is segmented into homopolymer and copolymer. Based on applications, the global polypropylene market is segmented into injection molding, fiber & raffia, film & sheet, blow molding, and others. Based on end use industry, the global polypropylene market is segmented into automotive, building & construction, packaging, healthcare, consumer electronics, and others. Based on geography, the global polypropylene market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on polypropylenes. Further, market share of prominent companies in the global polypropylene market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the polypropylene companies.
The global polypropylene market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the polypropylene business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global polypropylene market.
Major players active in the global polypropylene market include BASF SE, Borealis AG, Braskem, Exxon Mobil Corporation, Formosa Plastics Corporation, INEOS Group Holdings, Japan Polypropylene Corporation, LyondellBasell Industries N.V., Reliance Industries Limited, SABIC, Sasol, Sinopec, and Total S.A.
Segmentation:
By Type:
By Application:
By End-use Industry:
By Region
The global Polypropylene market was worth US$ 110 billion in 2019.
The global market for Polypropylene will most likely expand at over 3.2% CAGR through 2032.
Rising concerns regarding hazards of polypropylene on environment, growing awareness regarding environment protection, and implementation of stringent regulations is anticipated to hinder the growth of the global polypropylene market.
Asia Pacific contributed a comminating share to the global polypropylene market.
Key Polypropylene market players are BASF SE, Borealis AG, Braskem, Exxon Mobil Corporation, Formosa Plastics Corporation, INEOS Group Holdings, Japan Polypropylene Corporation and others.
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