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The polypropylene (PP) market size is forecast to increase by USD 29.16 billion at a CAGR of 4.34% between 2022 and 2027. Market growth hinges on several factors, notably the escalating demand for packaging solutions across various industries, driven by the expansion of e-commerce and the food and beverage sector. Additionally, the automotive industry's pursuit of lightweight materials to enhance fuel efficiency and reduce emissions fuels the demand for innovative lightweight solutions. Moreover, the growing emphasis on hygiene and sanitation, especially in light of recent global health challenges, drives the increased consumption of hygiene products such as sanitizers and disinfectants. These factors collectively contribute to the expansion of the market, offering opportunities for manufacturers and suppliers to meet the evolving needs of consumers and industries. As these trends continue to shape market dynamics, businesses must remain agile and responsive to capitalize on emerging opportunities and sustain growth in the competitive landscape of these sectors.
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The market, characterized by diverse polymer types, serves as a pivotal material in various industries. Its usage spans from fiber production to manufacturing sporting goods, cups, and to-go containers. Pellets of polypropylene are integral in the production process, catering to a wide target industry range. As a durable and versatile material, it competes with substitute products like ABS and polyethylene, making it a preferred choice for applications such as HUBS and beyond.
This market report extensively covers market segmentation by type (homopolymer and copolymer), application (injection molding, extrusion molding, blow molding, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The homopolymer segment is estimated to witness significant growth during the forecast period. Polypropylene homopolymer has been widely used for the packaging of products such as films, containers, and bottles. In the automotive sector, interior parts such as dashboards and door panels, it is applied on account of their superior heat resistance.
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The homopolymer segment 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.
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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 products. Polypropylene is used in the packaging industry for flexible packaging and packaging. Sustainability trends are also affecting the APAC polypropylene market, with a growing demand for recycled and eco-friendly products. Hence, such factors are expected to drive market growth in this region during the forecast period.
Polypropylene continues to thrive due to infrastructural developments driving demand across various sectors. With its versatility in end-use applications like electrical & electronics, film and sheet, and textile industry, copolymers and recycled polypropylene are gaining traction. Offering chemical resistance and compliance with FDA regulations, it caters to diverse needs in the construction sector and other end-user industries. As a lightweight material, it contributes to vehicle weight reduction, enhancing fuel economy. From children's toys to household goods, its applications span closures, food trays, and appliances, underscoring its significance in modern manufacturing.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
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 emergence of bio-based polypropylene is a primary trend in the market. Consumers' awareness of healthy lifestyles is increasing. The use of safer and renewable sources for finished product production is also on the rise. These factors are driving polypropylene producers to abandon petrochemical raw materials in favor of bio-based raw materials. Another major reason for this change is volatility in the prices of petroleum-based chemicals.
In addition, many polypropylene manufacturing companies are heavily investing in research and development (R&D) related to the large-scale production of bio-polypropylene. Hence, the emergence of bio-polypropylene is expected to drive the growth of the global polypropylene market during the forecast period.
The harmful effects of polypropylene is a challenge that affects the growth of the market. Endocrine disruption occurs when chemicals from hazardous materials like plastic come into contact with the body's hormones. They create an imbalance in hormone activity and stimulate the growth of tumors in the breast, uterus, or prostate. Along with that, they can also expose the fetus by interfering with testosterone and disrupting the normal development of the fetus.
Furthermore, a significant amount of waste is generated during the production of polypropylene. Some harmful chemicals are also used in this process. This can contaminate the air and water, thus having a negative impact on the environment. Hence, given the adverse health effects, the polypropylene market is expected to be negatively affected during the forecast period.
The market growth and trends research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market forecast report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2022 for the following segments.
The market thrives across diverse sectors like the chemical processing industry, where it's utilized in various applications like injection-molded pallets and blow molding processes. Its versatility extends to the automotive industry for lightweight components and the building & construction industry for durable materials. With notable resistance to impact and moisture, polypropylene finds its place in automotive parts, plastic containers, and food packaging. Its economical nature makes it a preferred choice in packaged food and beverages, offering a moisture barrier property to prevent quality loss. Additionally, its rigidity is valued in agricultural tools and industrial applications, while its flexibility caters to healthcare & pharmaceuticals and consumer goods/lifestyle industries. Despite challenges like fluctuating crude oil prices, polypropylene remains indispensable in various end-use industries due to its high impact resistance and optimum thermal resistance.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.34% |
Market growth 2023-2027 |
USD 29.16 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.61 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 59% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
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, and Market condition analysis for the forecast period. |
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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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
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