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The polypropylene market size is forecast to increase by USD 29.16 billion between 2022 and 2027, accelerating at a CAGR of 4.34%. In 2017, China held the largest market share, projecting an annual revenue of USD 37.75 billion. The research report on the Polypropylene Market offers industry forecasts and segmentation based on Type including Homopolymer and Copolymer. It also segments the market by Application, which comprises Injection molding, Extrusion molding, Blow molding, and Others. Geographically, the report covers APAC, Europe, North America, the Middle East and Africa, and South America. The market size, historical data (2017-2027), and future forecasts are presented in terms of value (in USD billion) for all these mentioned segments.
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Increasing demand for packaging is the key driver for the growth of the market. The rising demand for durable and convenient packaging solutions, especially in the growing e-commerce sector is driving the global polypropylene market. Polypropylene stands out as an eco-friendly packaging solution due to its recyclability, lightness, and durability. E-commerce leading players like Amazon are turning to polypropylene packaging to distribute their products, reducing waste and improving sustainability.
In addition, polypropylene's versatility in posing recyclable and reusable packaging solutions makes it a major driver in the global market, meeting both sustainability goals and consumer needs. consumers for efficient and environmentally friendly packaging. Hence, the growing demand from the packaging industry is anticipated to fuel the growth of the global polypropylene market during the forecast period.
The Homopolymer segments.1 was the largest segment and was valued at USD 87.41 billion in 2017.In addition, due to its high strength and corrosion resistance, the construction industry depends on homogeneous polypropylene for pipes and fittings. The growing demand for lightweight and durable materials in various industries is driving the popularity of homopolymers in the market, making it the preferred choice and thus increasing its demand in the market. Thus, such factors will boost the growth of the polypropylene market during the forecast period.
APAC is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The APAC polypropylene (PP) market is growing rapidly due to increasing demand from various industries, such as automotive. APAC is the largest polypropylene user in the world owing to the booming automotive, packaging, and construction sectors.
Furthermore, rapid urbanization, rising disposable income, and a growing middle class are driving demand for lightweight and durable polypropylene products. Polypropylene is used in the packaging industry for flexible packaging and packaging. Sustainability trends are also affecting the APAC polypropylene market, with growing demand for recycled and eco-friendly polypropylene products. Hence, such factors are expected to drive market growth in this region during the forecast period.
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The Polypropylene Market is fragmented in nature. Some significant players include BASF SE, Borealis AG, Braskem SA, Ducor Petrochemicals B.V., Exxon Mobil Corp., Formosa Plastics Corp., Haldia Petrochemicals Ltd..
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
HPCL-Mittal Energy Ltd., Indian Oil Corp. Ltd., INEOS Group Holdings SA, Koch Industries Inc., LyondellBasell Industries N.V., Mitsubishi Chemical Group Corp., Mitsui Chemicals Inc., Reliance Industries Ltd., Saudi Basic Industries Corp., Saudi Polymers LLC, Sinopec Shanghai Petrochemical Co. Ltd., TotalEnergies SE, and Westlake Plastics Co.
The polypropylene market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
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Polypropylene Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2022 |
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Historic period |
2017 - 2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.34% |
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Market growth 2023-2027 |
USD 29.16 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.61 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 59% |
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Key countries |
US, China, India, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
BASF SE, Borealis AG, Braskem SA, Ducor Petrochemicals B.V., Exxon Mobil Corp., Formosa Plastics Corp., Haldia Petrochemicals Ltd., HPCL-Mittal Energy Ltd., Indian Oil Corp. Ltd., INEOS Group Holdings SA, Koch Industries Inc., LyondellBasell Industries N.V., Mitsubishi Chemical Group Corp., Mitsui Chemicals Inc., Reliance Industries Ltd., Saudi Basic Industries Corp., Saudi Polymers LLC, Sinopec Shanghai Petrochemical Co. Ltd., TotalEnergies SE, and Westlake Plastics Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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