Dublin, Aug. 24, 2022 (GLOBE NEWSWIRE) -- The "Polypropylene Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global polypropylene market is expected to grow from $95.46 billion in 2021 to $103.79 billion in 2022 at a compound annual growth rate (CAGR) of 8.7%. The market is expected to grow to $129.96 billion in 2026 at a CAGR of 5.8%.
The polypropylene market consists of the sale of polypropylene and related services. Polypropylene is a thermoplastic polymer produced by chain-growth polymerization of the monomer propylene and is used in automotive fittings and industrial fibers. It is resilient and resistant to fatigue and highly resistant to most acids and alkalis.
The main products of polypropylene are homopolymer and copolymer. Homopolymer is a polymer like polyethylene containing identical monomer units These are used in applications such as injection molding, fiber and raffia, film and sheet, and blow molding that are used By End Userrs such as packaging, automotive, consumer products, electrical and electronics, and other industries.
Asia Pacific was the largest region in the polypropylene market in 2021. North America was the second-largest region in the polypropylene market. The regions covered in the polypropylene report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Rising demand for thermoplastic materials contributed to the growth of the polypropylene market. Due to their unique chemical properties, thermoplastic materials can be recycled and remolded without affecting their physical properties. Thus, making thermoplastic materials much useful in many applications such as clothing, packaging, food, and beverages.
Additionally, they are also used in heavy-duty applications such as aerospace, military, and medical industries. According to the American Chemistry Council, the production of plastic resins, which serve as the foundation for all plastic products, climbed 0.9 percent in the United States in 2020, compared to 1.2 percent in 2019. The rising demand for thermoplastic materials increased the demand for the polypropylene market thereby driving the market.
Variations in the prices of raw materials such as crude oil prices have always been a major challenge in the polypropylene market. Fluctuating crude oil prices increases the operating expense affecting the bottom line of manufacturing companies in this market. For instance, according to the 'Business Standard', polypropylene became costlier by 4.6% due to rising oil prices.
Crude oil is the main source of petrochemicals as plastics are produced primarily from petroleum products and therefore crude oil prices are one of the key factors affecting plastic costs, making them very volatile. Volatile prices thereby have a negative impact on the polypropylene market, affecting the market's growth.
Eco-friendly polypropylene compounds are increasingly being used due to strict rules and regulations of the government over recycling and environmental protection. The polypropylene compounds possess unique qualities, making them more favorable and an alternative in the automotive industry.
Scope
Markets Covered:
1) By Product Type: Homopolymer; Copolymer
3) By Application: Injection Molding; Fiber & Raffia; Film & Sheet; Blow Molding
2) By End User Industry: Packaging; Automotive; Consumer Products; Electrical and Electronics; Other End-User Industries
Key Topics Covered:
1. Executive Summary
2. Polypropylene (PP) Market Characteristics
3. Polypropylene (PP) Market Size And Growth
4. Polypropylene (PP) Market Segmentation
5. Polypropylene (PP) Market Regional And Country Analysis
6. Asia-Pacific Polypropylene (PP) Market
7. China Polypropylene (PP) Market
8. India Polypropylene (PP) Market
9. Japan Polypropylene (PP) Market
10. Australia Polypropylene (PP) Market
11. Indonesia Polypropylene (PP) Market
12. South Korea Polypropylene (PP) Market
13. Western Europe Polypropylene (PP) Market
14. UK Polypropylene (PP) Market
15. Germany Polypropylene (PP) Market
16. France Polypropylene (PP) Market
17. Eastern Europe Polypropylene (PP) Market
18. Russia Polypropylene (PP) Market
19. North America Polypropylene (PP) Market
20. USA Polypropylene (PP) Market21. South America Polypropylene (PP) Market
22. Brazil Polypropylene (PP) Market
23. Middle East Polypropylene (PP) Market
24. Africa Polypropylene (PP) Market
25. Polypropylene (PP) Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Polypropylene (PP) Market
27. Polypropylene (PP) Market Trends And Strategies
28. Polypropylene (PP) Market Future Outlook and Potential Analysis
29. Appendix
Companies Mentioned
- Lyondellbasell
- Sinopec
- Sabic
- Exxon Mobil
- Braskem
- PetroChina
- Reliance Industries
- Formosa Plastics
- Borealis
- Asahi Kasei Plastics
- Mitsui Chemicals
- Dupont
- INEOS
- Total S.A.,
- China Petrochemical Corporation
- LG Chem
- Sumitomo Chemical
- Dynachem Co. Ltd.
- E.I. du Pont de Nemours
- HMC Polymers Co., Ltd.
- K Polymers, Inc.
- Scott Bader Company Limited
- The Dow Chemical Company
- BASF SE
- Toray Industries, Inc.
- Reliance Industries Limited
- Lotte Chemical UK Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/bwzfrs
