Polypropylene Market : Facts, Figures and Analytical Insights 2020-2026

The Polypropylene Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The global polypropylene market was worth $126.03 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 12% and reach $192.33 billion by 2023.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Polypropylene Market: Lyondellbasell; Sinopec; Sabic; Exxon Mobil; Braskem and others.

Industry News:

HOUSTON and LONDON, April 7, 2016 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of the world's largest plastics, chemical and refining companies, today announced that it completed the previously announced acquisition of the polypropylene (PP) compounding assets of Zylog Plastalloys Pvt. Ltd. (Zylog) in India. The company entered into a definitive agreement to acquire Zylog's PP compounding assets in November 2015.

LyondellBasell has supplied the Indian market through imports and tolling arrangements since 2009. In October 2015, LyondellBasell acquired SJS Plastiblends Pvt. Ltd.'s PP compounding business which is located in Aurangabad, Maharashtra. With the acquisition of Zylog's manufacturing operations in Sinnar, Maharashtra, and Chennai, Tamil Nadu, LyondellBasell is now the third largest producer of PP compounds in India with an annual capacity of 44,000 metric tons (97 million pounds). In addition to the already existing product lines offered at these sites, LyondellBasell will produce its Hostacom glass fiber-reinforced, mineral filled and unfilled colored grades as well as Hifax high impact thermoplastic olefins. These compounds are used to manufacture automotive parts, home appliances and other products.

ROTTERDAM, the Netherlands, September 10, 2019 - LyondellBasell (NYSE: LYB) today announced that China Petrochemical International Co., Ltd (Sinopec International) has selected LyondellBasell's world-leading polypropylene (PP) and high-density polyethylene (HDPE) technologies for a new facility.

The plants will be built at the Sinopec Zhenhai Refining & Chemical complex in Ningbo, Zhejiang Province, P. R. China. The complex will comprise of a 300 KTA polypropylene plant that will utilize LyondellBasell's Spherizone PP process technology and a 300 KTA high-density polyethylene plant which will utilize LyondellBasell's Hostalen ACP process technology.

Market Overview:

The polypropylene market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The Asia-Pacific polypropylene market was largest in 2018. It is expected to grow at a compound annual growth rate (CAGR) of 4.10%.

The polypropylene market covered in this report is segmented by type into homopolymer, copolymer. It is also segmented by end-use industry into packaging, automotive, consumer products, electrical and electronics, other end-use industry. Rising demand for thermoplastic materials contributed to the growth of the polypropylene market. Due to its unique chemical properties, thermoplastic materials can be recycled and remolded without affecting its physical properties. Thus, making thermoplastic materials much useful in many applications such as clothing, packaging, food and beverages. Additionally, they are also used in heavy duty applications such as aerospace, military and medical industries. For instance, in 2017, according to 'AZO Materials', the demand for thermoplastic materials has increased globally with more than 100 million tons of thermoplastic materials being used in various applications. The rising demand for thermoplastic materials increased the demand for polypropylene market thereby driving the market.

Variations in the prices of raw materials such as crude oil prices have always been a major challenge in the polypropylene market. Fluctuating crude oil prices increases the operating expense affecting the bottom line of manufacturing companies in this market. For instance, in 2018, according to the Business Standard, polypropylene became costlier by 4.6% due to rising oil prices. Crude oil is the main source of petrochemicals as plastics are produced primarily from petroleum products and therefore crude oil prices are one of the key factors affecting plastic costs, making them very volatile. Volatile prices thereby have a negative impact on the polypropylene market, affecting the market's growth.

Eco-friendly polypropylene compounds are increasingly being used due to strict rules and regulations of government over recycling and environment protection. The polypropylene compounds possess unique qualities, making it more favorable and an alternative in the automotive industry. For example, Grand Siam Composites, a joint venture between SCG Chemicals, Mitusui Chemicals Inc., and Prime Polymer, has developed new technologies and inventions to produce high quality products that are environment friendly. With those advancements, GSC's polypropylene compounds are producing high quality automobile parts such as consoles, instrument panels, bumpers, door panels and various accessories.

In March 2018, Plastiche SA, a Belgium-based specialty chemical products company, controlled by Roussis family holdings acquired Bamberger Polymers Corp., for an undisclosed amount. This acquisition is a natural extension to holdings of Roussis family, but Bamberger will continue to operate independently. Bamberger Polymers Corp. is a USA-based plastics manufacturing company and specializes in products including polypropylene.

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Regional Analysis For Polypropylene Market:

For comprehensive understanding of market dynamics, the global Polypropylene market is analyzed across key geographies namely:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Polypropylene Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger and acquisitions along with trending innovation and business policies are reviewed in the report. The report contains basic, secondary and advanced information pertaining to the Market global status and trend, market size, share, growth, trends analysis, segment and forecasts from 2020-2023.

Following are major Table of Content of Polypropylene Market:

- Global Market Overview, Drivers, Restraints and Opportunities, Segmentation overview
- Global Market competition by top Players
- Analysis by Regions
- Consumption by Regions
- Consumption, By Types, Revenue and Market share by Types
- Consumption, By Applications, Market share (%) and Growth Rate by Applications
- Complete profiling and analysis of Players
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Global Market Effect Factors Analysis
- Global Market Forecast
- Global Market Research Findings and Conclusion, Appendix, methodology and data source

Finally, all aspects of the Global Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter's Five Forces Analysis and SWOT Analysis.

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