Growth of Polypropylene Random Copolymer Market Stood at US$5.9 bn in 2014 and is Predicted to reach US$9.2 bn by 2023

Polypropylene random copolymer is a thermoplastic polymer that can be readily formed by catalytic polymerization of propylene using ethylene as a co-monomer at random concentrations to improve thermal and mechanical properties of polypropylene. Polypropylene random copolymer possesses beneficial properties such as excellent surface hardness, high impact and chemical resistance, good transparency, high heat resistance, and low melting temperature. Hence, it has gradually replaced other polyolefins in various applications in the last decade and the trend is expected to continue during the forecast period.

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Rising demand for food containers is likely to augment the global polypropylene random copolymer market in the next few years. Additionally, rising consumption of syringes for injectable drugs is expected to boost the polypropylene random copolymer market during the forecast period. However, stiff competition from available substitutes and volatile raw material prices are projected to hamper growth of the market during the forecast period. The beverage industry is likely to offer large opportunities for polypropylene random copolymer manufacturers from 2015 to 2023. Polypropylene random copolymer is likely to replace glass due to its lightweight and transparency.

The packaging industry has been the largest consumer of polypropylene random copolymer. Unique properties of polypropylene random copolymer such as transparency, stiffness, organoleptic, sealability, and heat resistance make it one of the most efficient materials for food & beverage packaging. Polypropylene random copolymer is primarily used in food & storage container packaging on a large scale. The health care industry is the next biggest consumer of polypropylene random copolymer, especially in syringes, labware, and bottles. Large multinational companies have launched special grades of polypropylene random copolymer for medical applications. It is predominantly used in hot and cold water pipes in the construction industry. Polypropylene random copolymer is also used in hot & cold water pipes, VCD cases, toys, gearboxes, etc. Polypropylene random copolymer is also used in the production of specimen cups, syrup bottles, IV bags, pouches, and tubes. Other end-users of polypropylene random copolymer include media packaging, toys, sports, furniture, automotive, and household appliances.

In terms of volume, Asia Pacific accounted for the largest share of the global polypropylene random copolymer market, accounting for approximately 50% share in 2014. The polypropylene random copolymer market is expected to expand significantly in China, India, Brazil, and ASEAN due to increasing demand for food containers in these countries. The market in Latin America is likely to expand at a significant rate due to rising demand in the food & beverage and medical industries. North America and Europe are mature markets for polypropylene random copolymer and are estimated to lose market share by 2023. However, moderate demand for polypropylene random copolymer is anticipated in the health care and building & construction industries during the forecast period.

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The global polypropylene random copolymer market is highly fragmented. The top five companies accounted for nearly 30% share of the polypropylene random copolymer market in 2014. Most players in the market are vertically integrated. Several manufacturers focus on adding new features to their current products in order to gain competitive advantage and sustain in the market. Key players in the market include LyondellBasell Industries N.V., Total Petrochemicals & Refining USA, Inc., Braskem, SABIC, Sinopec, Borealis AG, Reliance Industries Limited, Formosa Plastics Corporation, Sasol, INEOS Olefins & Polymers USA, Pinnacle Polymers LLC, Entec Polymers, Flint Hills Resources, and Exxon Mobil Corporation.

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