The polypropylene market is segmented, by Type (Homopolymer and Copolymer), Application Type (Injection Molding, Fiber & Raffia, Film & Sheet, and Blow Molding), End-Use Industry Type (Packaging, Automotive, Building & Construction, Electrical & Electronics, Medical, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)
The polypropylene market is segmented, by Type (Homopolymer and Copolymer), Application Type (Injection Molding, Fiber & Raffia, Film & Sheet, and Blow Molding), End-Use Industry Type (Packaging, Automotive, Building & Construction, Electrical & Electronics, Medical, and Others), and Region ...
The polypropylene market is estimated to grow from USD 126.19 billion in 2022 to USD 153.99 billion by 2028 at a CAGR of 3.34% during the forecast period.
Polypropylene is a thermoplastic polymer that is produced by combining propylene monomers with catalysts. As thermoplastic polymers are recyclable, their applications are growing in a wide array of industries such as packaging, automotive, building & construction, electrical & electronics, medical, and others. They are of basically two types i.e. homopolymer and copolymer.
Polypropylene Market Report Overview
Market Size in 2028
USD 126.19 billion
Market Size in 2021
USD 153.99 billion
Market Growth (2023-2028)
CAGR of 3.34 %
Base Year of Study
2022
Trend Period
2017-2021
Forecast Period
2023-2028
Market Dynamics
The market is driven by a host of factors, some of which are noted below:
Surge in Demand for Polypropylene from Various End-Use Industries to Fuel Growth
Rising Demand from the Packaging Market: The polypropylene market is expanding due to increasing packaging demand for food and beverages, as well as its moisture barrier properties, making it ideal for food and beverage packaging and automobile manufacturing due to its ease of processability and stiffness.
Rising Demand from the Manufacturing Market: Polypropene's high durability and flexibility make it a promising material for the agricultural sector, with increasing demand for tools like drippers and microtubes driving growth.
Rising demand from the Industrial Market: Polypropylene's high rigidity and transparency properties, particularly in packaging electrical spares and parts, are expected to boost its demand across various industries due to its efficient properties.
The market is segmented as homopolymer and copolymer. The Homopolymer shares more than 80% in 2022 and is expected to maintain its position during the forecast period. Homopolymer polyethylene is widely used in a large number of industries such as packaging, automotive, building & construction, and electrical & electronics owing to its better mechanical properties.
By Application Type
The polypropylene market is segmented as injection molding, fiber & raffia, film & sheet, and blow molding. Film and sheet share nearly 35% in 2022 of the market owing to their widespread usage in carpets, carpet backing, and tapes. Injection molding is expected to remain the second-largest segment owing to the growing demand for molded products in an increasing number of end-use industries.
By End-Use Industry Type
The polypropylene market is segmented as packaging, automotive, building & construction, electrical & electronics, medical, and others. The packaging segment shares more than 35%in 2022 during the forecast period. Polypropylene is used in the packaging of food and consumer products.
Asia Pacific holds more than 45% of the share in 2022 for polypropylene during the forecast period. China, Japan, South Korea, Taiwan, and India are the largest consumers of polypropylene in the region. Significant economic development in the region is paving the path for electrical & electronic, packaging, building & construction, and automotive industries.
Further, a huge consumer base and significant economic development in the region are likely to boost the demand for polypropylene in the region. North America and Europe are also expected to witness a healthy demand for polypropylene material owing to the revival of the construction industry from the global economic slowdown.
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Segmentation
The report provides detailed insights, to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
Segment-Wise Analysis -
By Type:
Homopolymer
Copolymer
By Application Type:
Injection Molding
Fiber & Raffia
Film & Sheet
Blow Molding
By End-Use Industry Type:
Packaging
Automotive
Building & Construction
Electrical & Electronics
Medical
Others
By Region:
North America (Country Analysis: the USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
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Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players and those willing to enter the market.
What Deliverables will you get in this report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Polypropylene Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and what is their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
Segmentation
Current market segmentation by any one of the technology types by application type.
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
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Polypropylene is a thermoplastic polymer that is produced by combining propylene monomers with catalysts. As thermoplastic polymers are recyclable, their applications are growing in a wide array of industries such as packaging, automotive, building & construction, electrical & electronics, medical, and others. They are of basically two types i.e. homopolymer and copolymer.
LyondellBasell Industries Holdings B.V., Exxon Mobil Corporation, SABIC, DuPont, INEOS, Formosa Plastics Corporation, China Petrochemical Corporation, and LG Chem, Eastman Chemical Company, BASF SE, Reliance Industries Limited, Westlake Chemical Corporation, Braskem, Haldia Petrochemicals Limited, Lotte Chemical UK LTD., Trinseo, HPCL- Mittal Energy Limited, Brahmaputra Cracker And Polymer Limited, and SACO AEI Polymers are among the key players in the polypropylene market.
The prime factors that are driving the polypropylene market are expanding application range, technological advancements, and a surge in demand from the Asia-Pacific region.
