Polypropylene Random Copolymer Market Size and Growth 2016-2024 | Top Manufacturers - LyondellBasell, Pinnacle Polymers LLC, Braskem, Formosa Plastics

Rising penetration across food containers and vessels will considerably expand the polypropylene random copolymer market share in the coming years. The growing household incomes of consumers across the world have resulted in their optimum capacities to spend on packed food items. There is also a gradual shift towards artistic labeling and packaging that offers food durability. As per reports, the annual revenue collected from the global food containers business reached more than USD 110 billion in 2015. This value is estimated to cross USD 175 billion by the end of 2024.

Polypropylene random copolymer compounds are widely utilized to maintain organoleptic food characteristics. They exhibit transparency, gloss, high thermal resistance, and lightweight attributes across food storage applications like vessels and containers. Furthermore, PP random copolymer properties such as flexibility, optimum optical value, and higher impact resistance will add impetus to their application outlook.

It has been estimated that the polypropylene random copolymer market size will globally surpass an annual value of more than USD 9 billion by 2024.

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The industry share of PP random copolymers in healthcare applications exceeded USD 1 billion in 2015. This is due to the transparent physical quality of the copolymers, which makes them largely consumed in the production of healthcare and medical instruments like syringes and nozzles. On a further note, polypropylene random copolymer uses in laboratory instruments can be attributed to their lightweight and indestructible properties.
The application of polypropylene copolymers across packaging contributed to 50% of the total revenue share in 2015. This can be owed to the intense demand for beverages such as fruit juices, flavored water, and milk. Features like transparency and increased thermal resistance rendered by the polymer make it suitable for packing. Owing to this, it is also excessively employed as an alternative to conventional packing materials like PET and glass.

North America PP copolymer industry, with the U.S as a leading contributor, recorded more than USD 950 million in global remuneration in 2015. This is due to the presence of a significant packaged food consumer base across developing regions like the U.S. and Canada. Furthermore, the expanding healthcare and packaging sector in the region will add impetus to the regional copolymer consumption.

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Top Manufacturers in Polypropylene Random Copolymer Market:
• LyondellBasell
• Reliance Industries Limited
• Pinnacle Polymers LLC
• Braskem
• Formosa Plastics
• Entec Polymers
• Total Petrochemicals & Refining USA Inc.
• Sasol

The polypropylene random copolymer industry exclusively constitutes some of the leading participants that contributed to less than 30% of the market share in 2015. These firms are consistently working towards novel product launches and marketing strategies like acquisitions, mergers, and partnerships to sustain competition mainly in the current COVID-19 pandemic. For instance, in December 2020, SOCAR Polymer, an Azerbaijan-based supplier, introduced two new random copolymer PP pipes that are ideal for thin-wall packaging applications.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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