Press release
Polypropylene Random Copolymer Market Trends by Countries, Type, and Application | LyondellBasell, Pinnacle Polymers LLC, Braskem, Formosa Plastics, Entec Polymers
This number has subsequently exaggerated the requirement for high-grade food containers, thereby propelling the statistics of the overall polypropylene random copolymer industry. Globally, PP random copolymer market is anticipated to record a decent valuation of USD 9 billion by 2024 end.
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Increasing dependence of food containers and packaging industries on PRC
Precisely, polypropylene random copolymers are thermoplastic resins that are produced during the polymerization process of propylene. These resins have an expansive range of seal initiation temperature, brilliant gloss and transparency, aesthetic properties, and high heat tolerability.
Considering these attributes, it would be overt to state that PRC products are light weight, possess high radiation resistance and have the ability to absorb the aesthetic properties of food.
Consequently, these products are also being heavily used for producing food containers made of plastic, paperboard, glass, and metal. And in a bid to realize the outgrowing demand for these products, various enterprises have been coming up to showcase their novel innovations in the space, while investing hefty dollars in construction and refurbishment of PP plants.
In June 2020, America’s leading polyolefins producer, Braskem had announced the completion of construction of polypropylene production plant in La Porte, Texas. According to the company officials, Braskem’s new facility has a production capacity of about 450 kilotons and boasts of the ability to produce the entire polypropylene portfolio including a broad range of random copolymers, homopolymer, and other polypropylene products.
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With such advancements in the field, it is no surprise that the polypropylene random copolymer industry is set to embark on a profitable growth journey across some of the prominent continents, including North America, Asia Pacific, Europe, and others.
Unleashing the medical and healthcare application potential of PP random copolymers
Numerous reports have put forth claims that North America has been witnessing a rise in demand for PRC for over a while now. Courtesy: Increasing prevalence of robust healthcare sector in the United States.
PRC is being used in the healthcare industry to manufacture medical equipment such as syringes due to its transparent and heat resistance traits.
Apart from the North American economies, PRC is also being massively used in the MEA continent to bring about a revolutionary change in the healthcare and medical sectors of the region. In 2019, National Petrochemical Industrial Co. (Natpet), Saudi Arabia’s only producer of healthcare and medical grades of PP, had launched several new PP grades targeting medical and healthcare applications. Amongst these was R70MLT-MG.
Key companies operating in the industry includes LyondellBasell, Reliance Industries Limited, Pinnacle Polymers LLC, Braskem, Formosa Plastics, Entec Polymers, Total Petrochemicals & Refining USA, Inc., Sasol, Flint Hills Resources and INEOS Olefins & Polymers USA.
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Arun Hegde
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Global Market Insights, Inc.
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