Press release
Polypropylene Market worth USD 134.12 Billion at 5.4% CAGR (2024-2032) | Rising Usage in Automobile Manufacturing will Aid Growth
The global polypropylene market size was USD 83.85 billion in 2023 and is projected to grow from USD 88.24 billion in 2024 to USD 134.12 billion in 2032, exhibiting a CAGR of 5.4% during the forecast period (2024-2032).
๐ฎ๐๐ ๐ ๐ญ๐๐๐ ๐บ๐๐๐๐๐ ๐น๐๐๐๐๐๐๐ ๐น๐๐๐๐๐ - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/polypropylene-pp-market-101583
Low Demand from Automotive Industry amid COVID-19 to Decline Growth
The outbreak of the COVID-19 pandemic is affecting the supply of polypropylene severely. It is currently showcasing lower demand from the building & construction and automotive industries. Also, the reduced prices of crude oil are impacting the demand for PP. We are offering in-depth research reports to help you regain business confidence at a difficult time like this.
Fortune Business Insightsโข presents a list of all the prominent polypropylene producers operating in the global market. They are as follows:
LyondellBasell Industries N.V. (Netherlands), ExxonMobil Chemical (U.S.), China National Petroleum Corporation (China), INEOS (UK), China Petroleum & Chemical Corporation (China), SABIC (Saudi Arabia), Ducor Petrochemicals (Netherlands), Reliance Industries Limited (India), Formosa Plastic Group (Taiwan), Total S.A. (France), Braskem (Brazil), BASF SE (Germany), Repsol (Spain), Borouge (UAE), Borealis AG (Austria), MOL Group (Hungary), Beaulieu International Group (Belgium), Other Key Players
Drivers & Restraints-
Rising Demand from Agriculture Sector to Propel Growth
Polypropene is nowadays utilized in the production of sports equipment, fashion apparels, and toys as it offers high flexibility and durability. Other than that, it can be molded easily in various shapes, without hampering the quality. In the agriculture sector, this material is gaining high popularity because of the rising demand for various tools, namely, nozzles, microtubes, and drippers. However, the frequent fluctuations in the prices of crude oil are affecting the cost of the final product. This factor is likely to obstruct the polypropylene market growth throughout the forthcoming years.
Polypropylene Market Segments-
Packaging Segment to Hold Largest Share Fueled by Usage in Various Applications
Based on the end-use industry, the packaging segment is likely to hold the largest polypropylene market share in the coming years. This growth is attributable to the increasing usage of PP in the packaging of cosmetics, surgical equipment, auto components, and drugs. The consumer goods/lifestyle segment, on the other hand, generated 7.2% in terms of share in 2019.
๐ฎ๐๐ ๐ ๐ธ๐๐๐๐ - https://www.fortunebusinessinsights.com/enquiry/get-a-quote/polypropylene-pp-market-101583
Regional Polypropylene Market Analysis-
Increasing Usage in Pharmaceuticals Industry to Favor Growth in Europe
In 2019, Asia Pacific procured USD 40.41 billion in terms of revenue. The region is set to showcase high growth in the near future on account of the major contributions of India, Japan, and China. The expansion of automobile, packaging, and food & beverages industries in these countries would drive growth. Europe, on the other hand, is expected to exhibit a significant growth stoked by the increasing usage of PP in the pharmaceuticals, healthcare, and electrical & electronics industries.
Competitive Landscape-
Key Players Focus on Bagging New Orders from Renowned Firms to Intensify Competition
The companies present in the market for polypropylene are trying to establish robust distribution networks and enhance their product portfolios. A few of the local players are aiming to surge sales by gaining new orders for PP from reputed organizations.
๐น๐๐๐ ๐ด๐๐๐ ๐ฐ๐๐๐๐๐๐๐๐๐๐ - https://www.fortunebusinessinsights.com/industry-reports/polypropylene-pp-market-101583
Detailed Table of Content Research Report, 2024-2032
1 Polypropylene Market Overview
2 Market Upstream and Downstream Analysis
3 Players Profiles
5 Global Polypropylene Sales, Revenue, Price Trend by Type
6 Global Polypropylene Market Analysis by Application
7 Global Polypropylene Market Sales and Revenue Region Wise (2017-2022)
8 Global Polypropylene Market Forecast (2024-2032)
9 Industry Outlook
10 Research Findings and Conclusion
11 Appendix
Continuedโฆ
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Fortune Business Insightsโข offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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