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Extruded Polypropylene Market Size is projected to reach USD 296.8 billion by 2029, Trends, Growth Strategies, Top Players and Forecast
Extruded Polypropylene Market Overview:Extruded Polypropylene are materials manufactured by melting and forming of high volume polymeric material in a continuous process. They are used to generate a wide range of plastic-based products, parts and forms such as pipes, tubes, films, wraps, sheets, and other custom products. They find application in a variety of industries such as building & construction, packaging, automotive, and others, owing to their availability in almost all shapes and sizes.
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The global Extruded Polypropylene market was valued at USD 186.4 billion in 2020 and is projected to reach USD 296.8 billion by 2029, growing at a CAGR of 5.3% from 2022-2029.
Extruded Polypropylene are also used in end-use sectors like building and construction, packaging, automotive, and industrial because they produce plastic materials in a variety of shapes and sizes. Customers have demanded food and other items that may not be available in their countries due to an increase in disposable income and a modern lifestyle. These items are brought in from other countries. As a result, the packaging industry has increased its demand for Extruded Polypropylene to ensure safety and proper storage during transportation and logistics. This in turn is expected to drive the growth of the Extruded Polypropylene market.
Extruded Polypropylene Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are DOW Chemical Company, Sigma Plastics Group, ExxonMobil Chemical Company, Bemis Company Inc., SABIC, Chevron Phillips Chemical Company LLC, JM Eagle, Berry Plastics Corporation and Others
Recent Development
In April 2021, Braskem S.A. launched a carbon-fiber-reinforced polypropylene filament for additive manufacturing. The filament is lightweight and rigid, thus ideal for automotive, aerospace, marine, and sporting goods applications.
In April 2021, Sulzer Ltd. and Borealis AG launched a new polypropylene foam extrusion technology, enabling lower cost and increased efficiency across the value chain. The companies have completed the development of an advanced process for the cost-effective extrusion of expanded polypropylene (ePP) beads.
In May, 2021, Mitsui Chemicals Inc. announced to produce renewable plastics from 100% bio-based hydrocarbons through a collaboration with Neste and Toyota Tsusho. The introduction of Neste-produced bio-based hydrocarbons as feedstock at the crackers will allow Mitsui Chemicals to produce renewable ethylene, propylene, C4 fraction, and benzene, among other chemicals, and process them into basic chemicals such as phenol, or plastics such as polyethylene and polypropylene, without altering the high quality of these derivatives. Their quality is at par with conventional products.
In April, 2021, Mitsubishi Chemical Corporation planned to acquire all stakes in the overseas polypropylene (PP) compound-producing subsidiaries of its joint venture, Japan Polypropylene, by the beginning of July 2021. This move aimed to reinforce its PP compound business. Moreover, the company will acquire 55% and 50% shares in Japan Polypropylene's subsidiaries in Beijing (China) and Thailand, respectively. Japan Polypropylene has a PP compound production capacity of 219,000 tons per annum overseas and 1 million tons per annum in Japan.
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Extruded Polypropylene Market Segmentation:
Extruded Polypropylene Market by Type, 2020-2029, (USD Millions, Kilotons)
Low-Density Polyethylene
Polypropylene
Polyvinyl Chloride
High-Density Polyethylene
Polystyrene
Extruded Polypropylene Market by End-Use, 2020-2029, (USD Millions, Kilotons)
Packaging
Building & Construction
Automotive
Consumer Goods
Electrical & Electronics
Growth Factors:
Increasing demand from the Extruded Polypropylene industries
The growing use of Extruded Polypropylene in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Extruded Polypropylene Market
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Extruded Polypropylene Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key Extruded Polypropylene Market Trends
- The report identifies, determines, and forecasts the Global Extruded Polypropylene Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Extruded Polypropylene Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Extruded Polypropylene Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Extruded Polypropylene Market.
Key Questions Answered:
What are the key drivers of the worldwide Extruded Polypropylene Foam Market?
Which segment is predicted to gather a king's share of the Extruded Polypropylene Foam Market?
What is going to be the Extruded Polypropylene Foam Market size of the leading region?
Which company is anticipated to realize a serious share of the Extruded Polypropylene Foam Market?
What is the go-to strategies adopted within the global Extruded Polypropylene Foam Market?
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