MONTREAL, Oct. 12, 2022 (GLOBE NEWSWIRE) -- A Qualitative Research Study accomplished by Data Bridge Market research's database of 350 pages, titled “Polypropylene Market” with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy-to-understand detailed analysis. The polypropylene market report is a valuable source for the best market and business solutions for the Polypropylene industry in this rapidly altering marketplace. Innumerable business challenges can be quickly and easily conquered with this complete market research report. The Polypropylene report has been formed by taking into thought numerous aspects of marketing research and analysis that can be enlisted as market size estimations, market dynamics, company & market best practices, entry-level marketing strategies, positioning and segmentations, competitive landscaping, opportunity analysis, economic forecasting, industry-specific technology solutions, roadmap analysis, targeting key buying criteria, and in-depth benchmarking of vendor offerings.
Global Polypropylene Market was valued at USD 120.50 billion in 2021 and is expected to reach USD 167.47 billion by 2029, registering a CAGR of 4.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Market Synopsis:
Polypropylene is a thermoplastic material that is used for the manufacture of molded products or fibers. Along with translucent features, it provides strong mechanical and chemical resistance. The significant patterns and factors that confidently promote the industry are excellent rigidity, versatility and lightweight properties.
In the forecast period, rising plastic consumption in various end-use sectors is predicted to boost polypropylene demand. With technological breakthroughs and greater research efforts, it may be predicted that the technology roadmap will alter in the future, leading to new cost-effective ways for mass production of polymer composites. As a result of these determinants, the market is anticipated to have a positive outlook.
A surge in Investments and Electric Vehicle
Furthermore, growth in various investments for development purposes will provide various growth opportunities within the market. In addition, the rapid expansion of electric vehicles is creating new potential for polypropylene. The rise of electric vehicles is linked to increased government laws aimed at reducing greenhouse gas emissions from conventional automobiles and great fuel efficiency and noiseless operation. This factor is likely to open up various prospects for polypropylene as a result of these considerations.
Some of the major players operating in the Polypropylene market are:
- LyondellBasell Industries Holdings B.V. (Netherlands)
- Exxon Mobil Corporation (U.S.)
- SABIC (Saudi Arabia)
- DuPont (U.S.)
- INEOS AG (Switzerland)
- Formosa Plastics Corporation (Taiwan)
- China Petrochemical Corporation (China)
- LG Chem (South Korea)
- Eastman Chemical Company (U.S.)
- BASF SE (Germany)
- Reliance Industries Limited (India)
- Westlake Chemical Corporation (U.S.)
- Braskem (Brazil)
- Haldia Petrochemicals Limited (India)
- Trinseo (France)
- HPCL- Mittal Energy Limited (India)
- Brahmaputra Cracker And Polymer Limited (BCPL) (India)
- SACO AEI Polymers (U.S.).
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Recent Development
- In May, 2021, Mitsui Chemicals Inc. announced a collaboration with Neste and Toyota Tsusho to manufacture renewable polymers made entirely of bio-based hydrocarbons. Mitsui Chemicals will be able to produce renewable ethylene, propylene, C4 fraction, and benzene, among other chemicals, and process them into basic chemicals like phenol or plastics like polyethylene and polypropylene, thanks to the introduction of Neste-produced bio-based hydrocarbons as feedstock at the crackers. Their quality is comparable to that of conventional goods.
- In April, 2021, Mitsubishi Chemical Corporation planned to buy out all of its joint venture Japan Polypropylene's overseas polypropylene (PP) compound-producing businesses. This move was made to strengthen the company's PP compound business. In addition, the business would purchase 55 percent and 50 percent stakes in Japan Polypropylene's subsidiaries in Beijing (China) and Bangkok (Thailand), respectively. Japan Polypropylene has a global PP compound production capacity of 219,000 tonnes per year and a domestic capacity of 1 million tonnes per year.
The Report Provides Insights On The Following Pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Polypropylene market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Polypropylene Market
Market Dynamics: Polypropylene Market
- High Demand Across End Users
The key growth driver for the polypropylene industry is increasing demand from end-use sectors such as packaging, automotive, building and construction, healthcare, and electricals and electronics. Different elements, such as bumpers, instrument panels, and door trims, are made of polypropylene. It is also utilized for insulating building coverings and insulating electronics goods in the building and construction and electrical and electronics industries. China's Ministry of Industry and Information Technology expects electric vehicle sales to quadruple in the next several years. All of these elements are important growth drivers for polypropylene.
- Surging Recognition of its Beneficial Properties
The increasing awareness about its various advantageous properties will further propel the growth rate of polypropylene market. Polypropylene is a low-cost plastic with outstanding mechanical and moldability qualities. Polypropylene accounts for more than half of the plastic used in the automobile industry as a result of this. Polypropylene is a good material for packing because of its low density, lightweight, excellent heat resistance, durability, and great clarity.
Additionally, the growing demand for convenient packaging will also drive market value growth. The factors such as growth of the e-commerce business coupled with the growing online food delivery market are projected to bolster the growth of the market.
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The investment made in the study would provide you access to information such as:
- Global Polypropylene Market [Global – Broken-down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size
- Market Size by application/industry verticals
- Market Projections/Forecast
Key Industry Segmentation: Polypropylene Market
By Type
- Homopolymer
- Copolymer
- Process
- Injection Molding
- Blow Molding
- Extrusion
- Others
By Application
- Fiber
- Film and Sheet
- Raffia
- Foam
- Tape
- Others
By Chemical Structure
- Isotactic
- Syndiotactic
- Atactic
By End Use
- Packaging
- Building and Construction
- Automotive
- Furniture
- Electrical and Electronics
- Medical
- Consumer Products
- Others
Regional Analysis/Insights: Polypropylene Market
The countries covered in the polypropylene market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of polypropylene market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the growing demand for product from the automotive and packaging sector along with prevalence of various market players within the region.
North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing use of packaging in the food and beverage industry along with rising consumer demand for lightweight automotive components and electronic products in the region.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Polypropylene Market: Regulations
- Market Overview
- Global Polypropylene Market, By Type
- Global Polypropylene Market, By Application
- Global Polypropylene Market, By Chemical Structure
- Global Polypropylene Market, By End User
- Global Polypropylene Market, By Region
- Global Polypropylene Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
To Check the Complete Table Of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-polypropylene-market
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