Press release
Worldwide Polypropylene Random Copolymer Market 2016: Global Segments, Industry Growth, Top Key Players, Size and Recent Trends by Forecast to 2024 : Total, Reliance Industries Limited, INEOS, Braskem, Sasol, Formosa Chemicals & Fibre Corporation, Entec P
Polypropylene Random Copolymer Market
In 2015, North America, led by the U.S. polypropylene random copolymer market size was valued in excess of USD 950 million. The U.S. and Canada are prominent packaged food consumers and thus the PP random copolymer market in packaging will show considerable growth in North America. Presence of strong healthcare industry in the region will further complement regional industry growth by 2024.
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In 2015, Asia Pacific, mainly China and India, garnered the largest PP random copolymer market share. Enhancing consumer lifestyle with population demographics across India and China will drive the regional market for packaging applications.
In 2015, the polypropylene random copolymer market share was highly fragmented with key industry participants contributing to less than 30%. Key industry share contributors are LyondellBasell, Pinnacle Polymers, Reliance Industries, Entec Polymers, Braskem, Formosa Plastics, Sasol, Total, INEOS and Flint Hills Resources.
Industry Impact forces
• Growth drivers
1. Robust growth in the food containers industry
2. Growth overall syringe market
• Industry pitfalls & challenges
1. Fluctuating crude oil prices
Polypropylene random copolymer market by end-use
• Packaging
• Building & construction
• Healthcare
• Others
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Formosa Chemicals & Fibre Corporation
2. Braskem
3. Pinnacle Polymers
4. Reliance Industries Limited
5. Sasol
6. Total
7. INEOS
8. Entec Polymers
9. Flint Hills Resources
10. LyondellBasell
The rising F&B sector across Asia Pacific is one of key drivers of the regional polypropylene random copolymer market. With India, Japan, and China at the helm, APAC led the overall polypropylene random copolymer industry in the year 2015. Changing consumer lifestyles, increased middle class population, and rising disposable incomes of consumers will primarily drive APAC polypropylene random copolymer market, which is slated to experience the maximum gains of 5.5% over 2016-2024.
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Key insights from the report include:
• In 2015, polypropylene random copolymer market for packaging applications led the overall industry by accounting more than 50% of the global volume in the same year. High thermal resistance and transparent characteristics of the product makes it derisible for packing, resulting in the overall business growth over the estimated timeframe.
• In 2015, the global healthcare applications generated revenue in excess of USD 1 billion. The product is widely preferred in manufacturing healthcare and medical instruments including syringes and nozzles owing to its transparent physical nature. Furthermore, the product is also used in laboratory instruments owing to its light weight and indestructible traits.
Increasing product application in food containers and vessels will stimulate global polypropylene random copolymer market growth; being widely preferred in food storage applications mainly due to its high impact resistance, good optical and flexibility properties. It also offers added characteristics including transparency, gloss, optimum thermal resistance and light weight which makes it desirable to find application across storage vessels and containers.
Browse key industry insights from the report, “Polypropylene Random Copolymer Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/polypropylene-random-copolymer-market
Furthermore, the product also aids in maintaining organoleptic food characteristics. In 2015, the overall food containers business generated revenue close to USD 110 billion and is forecast to exceed USD 175 billion by 2024. Rising consumer spending power subsequently propels the packed food demand, which will reflect across polypropylene random copolymer market as well.
Major raw materials include naphtha and ethylene; wavering crude oil prices across the globe is likely to hamper polypropylene random copolymer market price trend. For instance, naphtha price in 2009 was approximately USD 500/ton, drastically crossing USD 900/ton in 2010. Rising beverages including fruit juices, flavored water and milk demand globally will create new growth avenues for across packaging applications.
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