DUBAI, United Arab Emirates, March 28, 2022 (GLOBE NEWSWIRE) -- The COVID-19 induced subdued momentum, especially in construction and automotive sectors, is likely to hurt the interests of polypropylene market stakeholders in the short run, opines a new study by Future Market Insights (FMI)
| Polypropylene Market Value (2021) | US$ 83,878.2 Mn | |
| Polypropylene Market Estimation (2022) | US$ 86,995.4 Mn | |
| Polypropylene Market Forecast (2030) | US$ 117,513.8 Mn | |
| Value CAGR (2022-2030) | 4.5% | |
| Collective Value Share: Top 3 Countries (2021) | 47.4% | |
Revising its market forecast to negative 2.1% (volume) for 2022, the ESOMAR-certified market research and consulting firm remains bullish on the long-term prospects of the market. FMI has forecast the global polypropylene sales to reach a valuation of US$ 117,513.8 Mn in 2030.
To Remain ‘Ahead’ of Your Competitors, Request for A Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-449
According to the study, “despite a bearish rally for polypropylene over the last three months, a more positive outlook for oil will pave way for brighter polypropylene settlements in the near term.”
Polypropylene demand decline has been more pervasive vis-à-vis its other plastic variants in automotive and this will continue till resumption of manufacturing operations. However, high sales of spun-bound and meltblown polypropylene grades in the production of PPE and masks can offset some of the losses, opines FMI’s new study.
“The production of polypropylene requires a substantial amount of capital investment. Re-use and recyclability will not only reduce overall investment cost but also substantially reduce carbon emissions” says an FMI analyst.
Key Takeaways of Global Polypropylene Market Study
- Polypropylene, being 20%-25% lighter than conventional plastic variants will witness robust demand in lightweight automotive category in the long run
- With crude oil prices moving well below the US$ 30 per barrel, low purchase costs of feedstock such as propylene will offer lifelines to polypropylene manufacturers
- Innovations in polypropylene packaging solutions continue to offer material savings to manufacturers up to 60%
- Superior Fluid Catalytic Cracking (FCC) additives for optimizing feedstock yields of propylene are set to expand profit pools of refineries thus having a positive impact on overall growth of polypropylene market
For critical insights on this market, request to ask an expert here @ https://www.futuremarketinsights.com/ask-question/rep-gb-449
Competitive Landscape of Polypropylene Market
Borealis, one of the key players has been continuously extending support to all its partners in the polypropylene value chain to make the shift to polypropylene solutions that are viable in sustainable packaging.
Both Sabic and BASF have engineered newer processes to recycle polypropylene from a low-value, low-quality plastic to a pre-consumer plastic that can be effectively used in a number of food packaging applications. BASF has also collaborated with Jaguar to convert plastic waste into high-end automotive parts.
SCG has come out with a technology called as SMX that minimizes the utilization of plastic and paves way for applications in film packaging and chemical drums with more impact resistance and perforation.
Lucrative Market Conditions in China and India Make East Asia a Regional Goliath
East Asia’s prominence in the polypropylene market is likely to continue unabated owing to its fast growing automotive and construction sectors.
For More Information or Query or Customization Before Buying, Visit: https://www.futuremarketinsights.com/customization-available/rep-gb-449
Another key factor driving growth of polypropylene market in East Asia is the focus of manufacturers on customization of product portfolio as per specific applications. In East Asia, polypropylene is being prominently used in BOPP film, injection moldings, and Raffia/Thermoforming.
With viral epicenters having shifted to countries such as India, demand for polypropylene grades is robust in packaging and medical applications. Production appetite for bottle caps and closures in medical, hygiene and pharmaceutical applications has led to significant improvements in the demand outlook for East Asia
Looking for More Information?
Market report on Polypropylene published by Future Market Insights brings to the fore a pin-point analysis of the market, and offers comprehensive information with historical demand data for 2015-2021 and forecast statistics for 2022-2030. The study offers insightful information on the global Polypropylene market based on various categories–product grade (HP, RCP, ICP and TPO), and application (BOPP Film, Raffia/Thermoforming, Fibres & Filaments, Spun Bond Non-Wovens, Melt Blown Non-Wovens, Injection Moldings, Blow Moldings, Cast & Water Quenched Film, Cast & Water Quenched Film, Pipe & Sheet, and Transparent TPO).
To Buy this Report Visit @ https://www.futuremarketinsights.com/checkout/449
This study highlights the key market players, who are well-known market vendors, and have proven themselves as key shareholders in the global polypropylene market. Some of the market players included in the report are BASF SE, SABIC, Exxon Mobil Corporation, Lotte Chemical, LG Chem, Petro China Company Limited, Rongsheng Petrochemical Co., Ltd., Formosa Plastics Corporation, Japan Polypropylene Corporation, and Braskem, among others.
Explore wide-ranging Coverage of FMI's Chemicals & Materials Market Insights Landscape
Paper Processing Resins Market – The global sales of paper processing resins are anticipated to rise at a significant pace over the forecast period from 2022 to 2032.
Weighing Agents Market – The global weighing agents market is forecast to register significant growth during the forecast period from 2022 to 2032.
Flexographic Ink Market – Flexographic Ink Market By Type (Solvent Based Flexographic Ink, Water Based Flexographic Ink ,UV- Cured Flexographic Ink), Application (Corrugated Containers, Cartons, Flexible Packaging, Tags & Labels ,Paper & Plastic Bags) & Region - Forecast 2022-2032
Bio-Plasticizers Market – The growth of the Bio-Plasticizers market is attributed to the ongoing research on bio-based plasticizers, which is likely to create opportunities for the market in the forthcoming years
Transformer Oil Market –.Global Transformer Oil Market demand is anticipated to be valued at US$ 2.02 Billion in 2022, forecast to grow at a CAGR of 7% to be valued at US$ 4 Billion from 2022 to 2032.
Ballistic Protection Materials Market Global Ballistic Protection Materials demand is anticipated to be valued at US$ 11.80 Billion in 2022, forecast to grow at approximately CAGR of 6% to be valued at US$ 21 Billion from 2022 to 2032.
Wind Turbine Composite Materials Market –Acetonitrile Market – The global wind turbine composite materials market is expected to be valued at USD 12 Billion in 2022 and secure USD 25.4 Billion by 2032. The projected market growth is 7.14% during the forecast period from 2022 to 2032
Acrylamide Market – Global Acetonitrile Market demand is anticipated to be valued at US$ 277 Million in 2022, forecast to grow at a CAGR of 5.5% to be valued at US$ 473 Million from 2022 to 2032
Melamine Pyrophosphate Market - Global melamine pyrophosphate market demand is anticipated to be valued at US$ 338.43 Million in 2022, forecast to grow at a CAGR of 5.3% to be valued at US$ 201.92 Million by 2032
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centres in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/polypropylene-market
