openPR Logo
Press release

Global Polypropylene Market Spurred by Rising Demand from Packaging Industry, to reach US$133.3 bn by 2023

Due to the increasing demand from the food and beverages packaging industry, the global polypropylene market is well poised to reach US$133.3 bn by the end of 2023. A new report by Transparency Market Research, titled “Polypropylene Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” has pegged the value of the market at US$81.6 bn in 2014. If the figures hold true, the market will report a steady CAGR of 5.7% between 2015 and 2023.

Polypropylene is a type of thermoplastic polymer and can be readily made by catalytic polymerization of propylene. The production of polypropylene, however, largely depends on the availability of raw materials from natural gas reserves such as crude oil. Polypropylene is gradually replacing other polyolefins in several applications due to its properties such as high tensile strength, surface hardness, and strong chemical resistance.

Download And Get FREE Sample PDF File Of Polypropylene Market : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1664

To present an executive-level blueprint, the report has segmented the global polypropylene market based on various criteria. On the basis of end user, the market has been segmented into packaging, automotive, electronics and electrical, construction, consumer products, and others such as medical, agriculture, and furniture. Of these, the packaging segment dominated the market in 2014, accounting for a share of over 45%. The segment is also expected to continue registering growth at the fastest pace due to the increasing use of polypropylene in both rigid and flexible packaging. The demand from the packaging segment has been increasing since polypropylene provides high resistance to strong chemicals and high temperature.

The market for polypropylene is also gaining significant impetus from the rising demand in the automotive segment, which in turn holds the second largest share in the market. This is due to the fact that polypropylene presents the desired levels of mechanical strength and flexibility and also because it provides quality surface finish in vehicles. Furthermore, polypropylene is 15% to 20% lighter than other plastics, which also helps the global polypropylene market witness rising demand. The market is therefore expected to significantly gain from the increasing demand for motor vehicles in developed and developing economies alike.

Regionally, the report has segmented the global polypropylene market in Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Among these regions, Asia Pacific led the global polypropylene market in 2015 with a share of over 50%. The region is expected to continue dominating the market through the report’s forecast period. The rising demand for polypropylene in India, China, and other countries in the ASEAN will aid the rapid expansion of the polypropylene market in Asia Pacific. The region’s flourishing packaging industry will also aid the market’s growth.

The market for polypropylene in Latin America is expected to grow at an above-average rate. However, the growth witnessed in Europe is projected to be stagnant. Nevertheless, demand from the automotive industry in Europe will contribute to the market’s growth in the region.

To study the competition prevailing in the market, the report has also profiled companies such as BASF SE, LyondellBasell Industries N.V., Reliance Industries Limited, and others. Strengths and weaknesses of these companies have been discussed at length in the report. It also presents insights into threats and opportunities that these companies could face during the forecast period.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Mr. Sudip. S
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/
Visit Blog : http://globalresearchanalysis.blogspot.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 Global Polypropylene Market Spurred by Rising Demand from Packaging Industry, to reach US$133.3 bn by 2023 here

News-ID: 345061 • Views:

More Releases for Transparency

transparency market research
The global Custom Antibody Market market is estimated to attain a valuation of US$1 Billion by the end of 2033, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 0.085% during the forecast period, 2023 to 2033. The key objective of the TMR report is to offer a complete assessment of the global market including major leading
Transparency Market Research
A belt drive is a type of power transmission device which is a looped belt wound around a pair of pulley so as to transmit power between two or more rotating shafts. Compared to other power transmitting devices, belt drives are more preferred in mechanical industry due to easy installation, numerous speed ratio selections, less power loss and comparative low price. Belt drive protects the rotating machinery from overload fluctuations
Transparency Market Research
An ultrasonic motor is an electric motor which is driven by the ultrasonic vibration of a component. The stator of the motor is supported by piezoelectric components in ultrasonic frequency range which produces different types of vibrations depending on its arrangement. In other words, ultrasonic motor is a type of electric motor that transforms ultrasonic physical vibrations to linear motion, produced by a piezo-transducer. Ultrasonic motors therefore do not use
More transparency in Engineering IT
CPO certification helps evaluate openness of IT systems Digitalization is making openness in the linking of IT solutions increasingly important. The Code of PLM Openness (CPO), developed by the ProSTEP iViP Association, supplies a concrete approach for achieving precisely that. Fraunhofer IAO has now developed an effective certification for companies, which helps them comply with the CPO criteria. Industrie 4.0 requires intensified collaboration between various tools and systems. Only when
eDataCenterAnalyzer Increases Transparency in Data Centers
30 June 2016. Walldorf, Germany. – fluid Operations™ AG (fluidOps), a leader in semantic technologies, today launched eDataCenterAnalyzer™, an app that increases transparency in data centers. With the launch of this app and new releases of its Smart Data Platform Information Workbench™ and cloud management app eCloudManager™, the company has set the cornerstone for the future development of its product portfolio. eDataCenterAnalyzer combines the full functionality of Information Workbench with innovative
Transparency across the entire process chain
Leitner Spedition implements best4log-x • Austrian trucking company uses arvato Systems solution • End-to-end process management provides higher efficiency (arvato Systems) Gütersloh / Unterpremstätten – Since the beginning of 2015, the Austrian trucking company Leitner Spedition has been working with the best4log-x transport management system. This SAP-based solution from arvato Systems provides an integrated digital information flow and supports mid-sized companies in achieving a transparent process design. Controlling and Reporting have seen a