Polypropylene Market is Set To Reach A Valuation of USD 121 billion by 2029 - LyondellBasell, Exxon Mobil Corporation, SABIC

Exactitude Consultancy Market Research analyses that the Polypropylene Market will witness a CAGR of 5% for the forecast period of 2023-2029 and is likely USD 78 billion in 2022 to reach at USD 121 billion by 2029.

Research report on the Polypropylene market allows buyers to deliver unique solutions to various end users and improve their business presence in the industry. The report is introduced with accurate statistics regarding market share, size, and growth rate for the buyers to focus on their operations and achieve various goals smoothly. Numerous driving factors, restraints, opportunities, and threats affecting the Polypropylene market growth is described in the study for the strategy planners to plan policies pertaining to production volume, delivery of services, making connections, and creating awareness in the minds of consumers.

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Polypropylene Market Dynamics

✦ Drivers

High Demand Across End Users

The key growth driver for the polypropylene market is increasing demand from end-use sectors such as packaging, automotive, building and construction, healthcare, and electricals and electronics. Different elements, such as bumpers, instrument panels, and door trims, are made of polypropylene. It is also utilized for insulating building coverings and insulating electronics goods in the building and construction and electrical and electronics industries. China's Ministry of Industry and Information Technology expects electric vehicle sales to quadruple in the next several years. All of these elements are important growth drivers for polypropylene.

Surging Recognition of its Beneficial Properties

The increasing awareness about its various advantageous properties will further propel the growth rate of polypropylene market. Polypropylene is a low-cost plastic with outstanding mechanical and moldability qualities. Polypropylene accounts for more than half of the plastic used in the automobile industry as a result of this. Polypropylene is a good material for packing because of its low density, lightweight, excellent heat resistance, durability, and great clarity.

Additionally, the growing demand for convenient packaging will also drive market value growth. The factors such as growth of the e-commerce business coupled with the growing online food delivery market are projected to bolster the growth of the market.

✦ Opportunities

Surge in Investments and Electric Vehicle

Furthermore, growth in various investments for development purposes will provide various growth opportunities within the market. In addition, the rapid expansion of electric vehicles is creating new potential for polypropylene. The rise of electric vehicles is linked to increased government laws aimed at reducing greenhouse gas emissions from conventional automobiles and great fuel efficiency and noiseless operation. This factor is likely to open up various prospects for polypropylene as a result of these considerations.

✦ Restraints/Challenges

Availability of Substitutes

Other plastics include polystyrene (PS), polyethylene terephthalate (PET), polyurethane (PUR), polyvinyl chloride (PVC), and polyethylene terephthalate (PET) (PE). Polypropylene faces significant competition from these plastic compounds. Polyethylene is the most widely used and manufactured of these plastic polymers. Polyethylene can be made into both soft and flexible products as well as rigid and durable ones. Polyethylene may be molded into a variety of shapes, ranging from the most basic to the most sophisticated. Polyethylene is a good alternative for polypropylene because of these characteristics. In addition, the availability of alternative comparable polymers puts polypropylene under a lot of pressure.

Prominent Key players of the Polypropylene Market survey report:

Historical data available in the report elaborates on the development of the Polypropylene on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - LyondellBasell Industries Holdings B.V., Exxon Mobil Corporation, SABIC, DuPont, INEOS, Formosa Plastics Corporation, China Petrochemical Corporation, and LG Chem.

Polypropylene Market Recent Developments

July 2022: The Canadian company Heartland Polymers fully commissioned its polypropylene (PP) plant with a planned production capacity of 525,000 tons/year of polypropylene at the Heartland Petrochemical Complex in Alberta, Canada.

June 2022: Linde Engineering announced that the company started working on a large-scale revamp of a polypropylene (PP3) plant of Slovnaft, a member of the MOL Group situated in Bratislava, Slovakia. The revamp will extend the plant's production capacity by 18% to 300 kilotons of polypropylene per year and the expansion of the storage facility from 45 to 61 silos in total.

April 2022: Exxon Mobil announced that the company expected to start its new ongoing polypropylene manufacturing unit in Baton Rouge, Louisiana, by December 2022.

Polypropylene Market Segmentation:

Polypropylene Market by Type, 2023-2029, (USD Million)

» Homopolymer

» Copolymer

Polypropylene Market by Process, 2023-2029, (USD Million)

» Injection Molding

» Blow Molding

Polypropylene Market by Application, 2023-2029, (USD Million)

» Injection Molding

» Fiber & Raffia

» Film & Sheet

» Blow Molding

Polypropylene Market by End User, 2023-2029, (USD Million)

» Packaging

» Automotive

» Building & Construction

» Medical

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

Read Full Report with TOC:

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Key Features of the Polypropylene Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Polypropylene industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Polypropylene industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Polypropylene Market Research Report 2023-2029

1 Polypropylene Market Overview

1.1 Product Overview and Scope of Polypropylene

1.2 Polypropylene Segment by Type (Product Category)

1.3 Global Polypropylene market Segment by Application

1.4 Global Polypropylene Market by Region (2023-2029)

1.4.1 Global Polypropylene Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Polypropylene (2023-2029)

1.5.1 Global Polypropylene Revenue Status and Outlook (2023-2029)

1.5.2 Global Polypropylene Capacity, Production Status and Outlook (2023-2029)

…

Why Choose Polypropylene Market Report?

✔ Unbiased conclusions and market insights

✔ 24×7 customer service available to address client queries

✔ Highly efficient and experienced team of analysts striving to create top-quality reports

✔ Our reports have facilitated the growth of over 500 companies

✔ The systematic and methodical market research process

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Thank you for your interest in the Polypropylene Market research publications; you can also get individual chapters or regional/country report versions such as Germany, France, China, Latin America, GCC, North America, Europe or Asia.

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