Polypropylene Powder Market Growth, Analysis, Size, Trends, Emerging Factors, Demands, Key Players, Emerging Technologies and Potential of Industry Till 2028
There has been an increasing demand for polypropylene powder in packaged food products and beverages due to its resistance to absorbing moisture and the ability to work both as a plastic material and as a fiber. Moreover, polypropylene (PP) turns into liquid form when it reaches its melting and in this form, it can be molded into any shape, which is one of the most important properties that make its adoption extensive in the food and beverage industry. Even more significantly, this polymer powder does not react with acids and therefore, packaging foods and drinks with high acidic content in PP-based boxes, cartons, etc. is a viable option for food companies. Further, polypropylene is easily available and also relatively inexpensive, which in turn has resulted in the growth of this market.
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On the basis of type, this market is classified into extrude grade, general grade, coated grade, and spinning grade. Based on application, the market is divided into plastic woven industry, homopolymer injection products, fiber products, and others. By geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
This research report offers an in-depth study of the driving factors, restraints, and trends shaping the growth of this market. In addition, this report offers a worm’s eye-view evaluation of the market segments and regional developments in the market. Further, this report also incorporates a granular analysis of the strategies adopted by the key players in this market.
Development of Bio-based PP to Open New Growth Avenues for the Market
With plastic pollution escalating worldwide, the demand for biodegradable polymers has heightened over the last decade or so. This has led to intense research targeted towards the development of bio-based polypropylene powders, materials, and other PP derivatives, with several large chemical companies making huge investments in augmenting the production of such materials. In October 2019, for instance, Borealis and Neste entered into a partnership to accelerate the circular plastic economy. Under their agreement, Borealis leveraged Neste’s renewable propane to produce biodegradable PP from 2019 onward. Similarly, earlier in 2019, in June, Mitsui Chemicals unveiled its Bio-Polypropylene Project at the G20 Ministerial Meeting in Osaka, Japan. Under this project, Mitsui will ferment biomass from non-edible plants to create isopropanol, which will then be dehydrated to produce polypropylene. Such innovations in biodegradability are set to foster enduring growth for this market.
Growing Manufacturing Base of PP in China to Propel the Asia Pacific Market
Asia Pacific is projected to lead the polypropylene powder market share owing to substantial growth in the manufacturing of polypropylene in China. Moreover, the region is home to some of the biggest chemical companies in the world, which is a crucial growth driver for this market. North America is also expected to present lucrative business opportunities for market players on account of the rising adoption of bio-based polymers in the region’s processed food and beverages industry. On the other hand, Europe is anticipated to show rapid growth in this market due to increasing demand for polypropylene powder and other PP-based derivatives in the automobile industry.
Leading Competitors to Concentrate on Formulating PP Derivatives with Multi-Industry Applicability
The top competitors in this market are focusing their energies on formulating polypropylene-based products that will find applications across the industrial spectrum. The increasing emphasis on bio-polymers has further encouraged chemical companies to ramp up investments in R&D and create materials and products that can advance sustainability, as well as enable them to diversify their portfolios and entrench their market position.
May 2020: Braskem announced the availability of polypropylene powder for selective Laser Sintering 3D printing process due to its high moisture resistance and several other beneficial properties.
List of Key Players Covered in the Polypropylene Powder Market Report:
• Chambroad Petrochemicals
• Hong Ji Petrochemical
• Jianyuanchun Chemical
• Yongxing Chemical
• AM Polymer Research GmbH
• LuQing Petrochemical
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