openPR Logo
Press release

Polypropylene Market Market Analysis, Development, Revenue, Future Growth and Forecast to 2028

02-22-2022 06:07 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: FORTUNE BUSINESS INSIGHTS

Polypropylene Market Market Analysis, Development, Revenue,

The global polypropylene market size is projected to reach USD 108.57 billion by 2028, exhibiting a CAGR of 5.2% during the forecast period. As per the report by Fortune Business Insights™, titled "Polypropylene Market, 2021-2028", the market size was USD 75.12 billion in 2020 and is estimated to hit USD 76.00 billion in 2021.

Advancements in Plastic Recycling Technologies to Create New Growth Opportunities

Plastic pollution has become a scourge of development for the planet. Now, chemical industry companies, with support from governments and international bodies, are taking concerted steps to tackle this problem head-on using advanced recycling technologies. For example, in April 2021, INEOS bagged the ISCC Plus award from the International Sustainability & Carbon Certification organization for its successful commercial-scale trials of next-generation recycling technology to produce polypropylene (PP), high-density polyethylene (HDPE), propylene, and ethylene. In the same month, the US Polypropylene Recycling Coalition, a cross-industry collaboration, sanctioned USD 1 million to three facilities to augment the recovery of PP in the US. Thus, growing recognition and improving funding for the plastic circular economy will play a vital role in the development of this market.

Get Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/sample/polypropylene-pp-market-101583



Segmentation

Based on type, the market is bifurcated into hom-opolymer and copolymer.

On the basis of end-user, this market has been segmented into packaging, automotive, infrastructure & construction, consumer goods/lifestyle, healthcare & pharmaceuticals, electrical & electronics, agriculture, and others. Here, the consumer goods/lifestyle segment accounted for a 7.1% share in the global market in 2020.

By region, the market has been divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

COVID-19 Impact

The polypropylene market growth slumped by 1.1% in 2020 due to the sharp decline in the demand for polymers from the automotive industry amid the COVID-19 pandemic. With multiple restrictions in place around the world, automakers have had to close down many of their plants to adhere with government rules. Moreover, the adoption of vehicles is tumbling worldwide as a large chunk of people are working from home, resulting in an unprecedented contraction in the utilization of cars across the globe.



Highlights of the Report

The report supplies an in-depth examination of the various factors shaping the growth trajectory of the market, along with a detailed analysis of the hindrances facing the market. Additionally, the report contains a comprehensive study of the regional and competitive dynamics influencing the market, as well as a careful assessment of the individual market segments.

Ask for Customization:

https://www.fortunebusinessinsights.com/enquiry/customization/polypropylene-pp-market-101583



Competitive Landscape

Launch of Breakthrough Products by Key Players to Electrify the Market

As the demand for novel polymer formulations continues to rise, key players in this market are investing strategically in research & development activities to build breakthrough polypropylene-based products. These offerings are being designed for diverse applications across industries, which, in turn, will deepen the companies' foothold in the market.

Industry Development

December 2020: LyondellBasell introduced Beon3D, an inventive suite of PP products that combines additive manufacturing solutions with polymer technologies. The new line has been engineered to facilitate the designing and production of complex and high-quality 3D objects.


List of Key Players Covered in this Market Report

Beaulieu International Group (Belgium)
Borealis AG (Austria)
Repsol (Spain)
Braskem (Brazil
Formosa Plastic Group (Taiwan)
Ducor Petrochemicals (Netherlands)
China Petroleum & Chemical Corporation (China)
China National Petroleum Corporation (China)
LyondellBasell Industries N.V. (Netherlands)
MOL Group (Hungary)
Borouge (UAE)
BASF SE (Germany)
Total S.A. (France)
Reliance Industries Limited (India)
SABIC (Saudi Arabia)
INEOS (UK)
ExxonMobil Chemical (U.S.)


Inquiry before Buying:

https://www.fortunebusinessinsights.com/enquiry/queries/polypropylene-pp-market-101583



Driving Factor

Integration of PP in Electric Vehicles to Catalyze Market Growth

With vehicle pollution at an all-time high in major economies, the adoption of electric vehicles (EVs) is surging worldwide. For example, in 2019, global electric car sales reached 2.1 million, according to data released by the International Energy Agency (IEA). The key to enhancing the energy efficiency of EVs is to reduce their weight by employing lightweight materials in the manufacturing of their components. Polypropylene, which is a thermoplastic, is perfectly suited to meet this goal, primarily because it has low density. As a result, many EV makers are actively integrating PP in their products to make them more energy-efficient. For example, the Skoda Scala features 10% low-talc PP from Borealis, which has been used to make the car's center console, glove box, and instrument panel. Similarly, Renault's B4D engine leverages a PP compound for the air intake manifold, weighing 15% lesser than manifolds made from traditional polyamide-based materials. In sum, the incorporation of PP-based materials in EVs is the new thriving trend in the plastics industry, which is propelling the market.



Regional Insights

Promising Growth of the Packaging Industry to Aid the Asia Pacific Market

Supported by the spectacular growth of the packaging industry, Asia Pacific is set to dominate the polypropylene market share during the forecast period. The progress of the packaging industry in this region is driven by rapid urbanization in India and China, where packaged foods, beverages, and consumer goods are in high demand. The region's market size stood at USD 39.95 billion in 2020.

The market in North America is expected to make substantial headway, albeit at a CAGR lower than that of Asia Pacific, due to the extensive utilization of polypropylene in electronics manufacturing in the region. In Europe, the principal factor aiding the PP market is the enormous production and consumption of automobiles.

Contact Us:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower,

Baner - Mahalunge Road, Baner,

Pune-411045, Maharashtra, India.



Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: sales@fortunebusinessinsights.com



Connect us via Social Media Channels:

LinkedIn Facebook Twitter Blogs

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Polypropylene Market Market Analysis, Development, Revenue, Future Growth and Forecast to 2028 here

News-ID: 2559273 • Views: 232

More Releases from FORTUNE BUSINESS INSIGHTS

Carbon Black Market price is expected to showcase considerable growth by reachin …
As Per Report Published By Fortune Business Insights™ the global carbon black market price is expected to showcase considerable growth by reaching USD 17,027.1 million by 2027 while exhibiting a CAGR of 4.4% between 2020 and 2027. This growth is attributed to the rising rubber industry and the increasing incidence of road fatalities that is propelling the demand for advanced carbon black globally. This information is published by Fortune
Document Capture Software Market Industry Analysis, Size, Share, Trends, Demand, …
The global document capture software market size is expected to gain momentum from the increasing demand for Software-as-a-service based documents and software solutions. An unpublished report by Fortune Business Insights titled, "Document Capture Software Market Size, Share & Industry Analysis, By Deployment (On-Premise, Cloud-Based), By Solution (Multiple-channel Capture, Cognitive Capture, Mobile Capture), By Application Area (Retail, Banking, BFSI, Healthcare, IT, Telecom, Government, Other) and Regional Forecast, 2021-2028," discusses the prime
Oleochemicals Market size is expected to reach USD 52.04 billion by 2028 | Know …
The global oleochemicals market size is expected to reach USD 52.04 billion by 2028, exhibiting a CAGR of 6.4% between 2021 and 2028. The growing emphasis on natural oils & fats obtained from living feedstock, including plants, animals, and oilseeds, will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled "Oleochemicals Market, 2021-2028." The market size stood at USD 31.42 billion in 2020. Get Sample PDF
Acrylonitrile Butadiene Styrene Market share is projected to reach USD 42,809.5 …
The global acrylonitrile butadiene styrene market share is projected to reach USD 42,809.5 million by 2027, exhibiting a CAGR of 6.9% during the forecast period. The phenomenal growth in the global construction industry will be a prime growth driver for this market, states Fortune Business Insights™ The construction industry has entered a phase of prolific expansion due to the rapid growth in world population and the proliferation of residential and

All 4 Releases


More Releases for Polypropylene

Polypropylene Foam Market: Information by Type (Expanded Polypropylene (EPP) Foa …
Polypropylene foam — a lightweight thermoplastic made from polypropylene resin — exhibits superior properties, such as a high coefficient of friction, low density, stability across a wide temperature range, outstanding breathability, flexibility, and a buoyant nature. These favorable characteristics drive its adoption in the automotive, packaging, consumer durables, and construction industries, over counterparts such as polyethylene and polystyrene foams in applications. The rising demand for lightweight automobiles, the development and growth
Polypropylene and Polypropylene Composites Market Registering A Substantial CAGR …
According to a new report published by Allied Market Research, titled, Global Polypropylene and Polypropylene Composites Market for Injection Molding by Product, Fiber Type, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global polypropylene and polypropylene composites market for injection molding was valued at $54,703 million in 2016, and is projected to reach $78,381 million by 2023, growing at a CAGR of 5.1% from 2017 to 2023. The
Polypropylene And Polypropylene Composites Market 2019 Report: Growth Rate by Ap …
Polypropylene is one of the commonly used plastics as well as fiber. As a fiber, polypropylene is used in the manufacturing of artificial turf for sports and leisure activities. It is a thermoplastic, which is made by combining propylene monomer and is used in numerous applications, such as packaging, reusable containers, laboratory equipment, textiles, and auto components. Get the sample report: https://www.alliedmarketresearch.com/request-sample/4636?utm_source=openpr&utm_medium=Niranjan According to a new report published by Allied Market
Polypropylene and Polypropylene Composites Market with Development Factors, Inve …
According to a new report published by Allied Market Research, titled, Global Polypropylene and Polypropylene Composites Market for Injection Molding by Product, Fiber Type, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global polypropylene and polypropylene composites market for injection molding was valued at $54,703 million in 2016, and is projected to reach $78,381 million by 2023, growing at a CAGR of 5.1% from 2017 to 2023. The
Polypropylene and Polypropylene Composites Market for Injection Molding Value to …
"Polypropylene & polypropylene composites manufacturers and research institutions across the world have heavily invested on technological advancements to develop better composites. These are expected to modify and enhance the performance of bioplastic composites in a way that they use less energy in the production process, owing to their enhanced physical eco-friendly properties. Asia-Pacific countries, such as China, India, and others, possess high potential for the growth of the polypropylene &
Polypropylene Film Market Report 2018: Segmentation by Type (Cast Polypropylene …
Global Polypropylene Film market research report provides company profile for Borealis Innovia Films, Nowofol, Mitsui Chemicals Europe, Flex Films, Polyplex, Inteplast Group, Tasnee Rowad Global Packaging, Toray, Vista Film Packaging and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the