Polypropylene Market Sales,Trend, Forecast, Drivers, Restraints, Key Players Analysis by 2027

 The growing demand for polypropylene in the 3D printing industry and the increased installation of propane dehydrogenation will boost market growth.

Market Size – USD 135.14 Billion in 2019, Market Growth - CAGR of 5.3%, Market Trends – BOPP in food packaging

According to a new report by Reports and Data, the global Polypropylene Market is forecast to reach USD 205.61 Billion by 2027. Increasing adoption of PP in the 3D Printing industry owing to its superior chemical resistance is a significant factor influencing market demand. Polypropylene has the lowest density out of all commonly used in manufacturing plastics, which makes it very light. Other benefits associated with the material, including flexibility, durability, and electrical resistance, make it highly practical for the industry. Currently, the product is being used in the healthcare sector to manufacture medical vials, diagnostic devices, specimen bottles, and pill containers.

The increasing global installation of propane dehydrogenation (PDH) facilities is anticipated to influence demand. In the U.S. and Canada, the ethane steam crackers have reduced the production of propylene. Thus, companies have been shifting to propane dehydrogenation for the production of propylene.  Based on statistics, since 2010, more than 2 million metric tons/year of new PDH capacity have been developed in both the U.S. and Canada, and around 1.6 MMTPA capacity is currently under development.

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Competitive Landscape:

Under this section of the report, the leading companies and the company profiles have been detailed. The report’s competitive outlook comprises the strategic initiatives undertaken by these market players for optimal business expansion. The future financial outlook of these players has also been thoroughly assessed by leveraging avant-garde analytical tools, such as SWOT analysis and Porter’s Five Forces analysis. A detailed supply and value chain analyses have also been entailed in the report.

Leading Companies Profiled in the Report:

• BASF SE,
• China National Chemical Corporation (CHEMCHINA),
• Dow Chemical Company,
• ENI S.P.A.,
• Exxon Mobil Corporation,
• Braskem,
• INEOS Group Holdings S.A.,
• LyondellBasell Industries N.V.,
• Saudi Basic Industries Corporation,
• SINOPEC,
• and TOTAL Specialties USA, Inc.

Polypropylene Market Segmentation:

Based on Product Type:

• Homopolymer
• Copolymer

Based on Application:

• Moulding
• Injection Moulding
• Blow Moulding
• Fiber & Raffia
• Films & Sheets
• Bags & Sacks
• Containers
• Others

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Regional Outlook:

The report provides readers with an exhaustive analysis of the current growth opportunities for various Polypropylene market regions. It gathers significant data to predict the revenue share of each regional segment over the forecast timeline. Furthermore, the report includes a comprehensive study of the year-on-year growth rate of these regions. The leading key regions encompassed in the report include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Further key findings from the report suggest:

Polypropylene is one of the fastest-growing polymers. This growth is mostly attributed to polypropylene’s ability to displace conventional materials such as wood, glass, and metal at a lower cost. The material offers excellent chemical resistance and weldability, which makes it ideal for the automotive industry, consumer goods, and packaging applications.

The demand for PP resins for moulding is projected to grow significantly in the coming years. PP exhibits specific properties, such as chemical resistance, low density, outstanding property balance, and versatility, which makes it apt for a wide range of applications.

Polypropylene is majorly used for food packaging. It is widely used for sweet and snack wrappers, hinged caps, and microwave containers. Furthermore, since PP containers do not leach chemicals, they are considered safe for packaging applications.

Increasing adoption of Biaxially Oriented Polypropylene (BOPP) films in food packaging is also a significant trend observed in the market. Benefits associated with BOPP films, including low moisture transmission rate, excellent slip, and optical properties, high tensile strength, and low thermal shrinkage, have driven their demand for food packaging applications.

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