The global Polypropylene market was valued at is valued at US$ 113.0 billion in 2020 and is estimated to grow at a CAGR of 4.2% during the forecast period (2021-2026). ChemIntel360’s global Polypropylene market study is a 202-page report containing in-depth analysis on historical and forecasted spending and consumption patterns and related industry dynamics including drivers, challenges, and trends. The study offers granular value and volume data from a global, regional, applications, and end-use industry perspective.
The global Polypropylene market growth is primarily driven due to the growing demand for Polypropylene in end-use industries such as packaging, automotive, building and construction, and electrical and electronics. Polypropylene (PP) is a tough, rigid, and crystalline thermoplastic produced from the Propene (or Propylene) monomer. It is a linear hydrocarbon resin having the chemical formula (C3H6)n.
The growing demand for efficient packaging products is driving the Polypropylene industry globally. Product properties such as increased clarity, aesthetics, light-weight, high-temperature resistance, moisture barrier, and flexibility make it an ideal material for packaging in the food and beverage industry.
Further, Polypropylene is also used in the packaging of electrical and electronics products due to its transparency, optical clarity, and non-conductivity properties. Additionally, the demand for Polypropylene is expected to rise significantly over the forecast period due to the increasing usage of polymers in the production of electronic products such as computers, laptops, tablets, and mobile phones.
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Health and pharmaceuticals companies use Polypropylene based plastics for manufacturing surgical equipment and other medical products due to their chemical resistance and non-corrosive properties which enhance the shelf life of drugs.
Polypropylene is a thermoplastic created from a combination of propylene monomers. Its properties such as greater chemical resistance, high-temperature stability, and superior moisture barrier make it an ideal choice for use in packaging materials, binders, boxes, and portfolios.
Plastic film is a thin continuous polymeric material, while the thicker material is often referred to as a sheet. Plastic films are used in a wide variety of applications such as packaging, plastic bags, labels, building construction, landscaping, electrical fabrication, photographic film, film stock for movies, videotape, etc. Plastic Sheets on the other hand are crafted from raw plastic and are used to make laboratory equipment, automotive parts, medical devices, and food containers.
Further, Polypropylene fibers are being extensively used for building works, specifically concrete. The Polypropylene fiber reinforced concrete (PPFRC) contains very short discrete Polypropylene fibers which are used for reinforcement purposes. . This helps in reducing retraction and contraction cracks, thereby providing not only the much-needed tenacity to structures but also qualities such as anti-corrosion, high traction resistance, increased impact resistance, and anti-erosion.
Regional Insights
Asia-Pacific was the largest market for Polypropylene in 2020 due to increasing demand from the packaging and automotive industries in India, China, and Japan.
Polyethylene (PE) and Polypropylene are the downstream derivatives of the Petrochemical Fluidized Catalytic Cracking (petro-FCC) process. The demand and supply in the APAC region is balanced due to the presence of large petrochemical companies such as Reliance Industries Limited, China Petroleum & Chemical Corporation, and PetroChina Company Limited. This ensures adequate supply of Polypropylene in the region.
North America was the second-largest market for Polypropylene globally in terms of volume. The growth in the medical as well as electrical and electronics industries is driving the market in the region. The growing demand for packaging in the food and beverage industry in the U.S., Canada, and Mexico is also expected to boost the market over the short to medium term.
COVID-19 impact
The global Polypropylene market was adversely affected due to the COVID-19 pandemic. The demand for Polypropylene in the packaging of premium goods and non-food items declined because departmental stores and other convenience stores were shut down for a long period due to the pandemic. Meanwhile, construction and infrastructure development activities across the globe were also stalled or indefinitely delayed, creating much uncertainty in the market. .
However, some end-user segments such as healthcare and packaging witnessed a significant uptick and resultantly boosted demand for Polypropylene. During the pandemic, Polypropylene was extensively used to manufacture personal protective equipment such as face shields, masks, and headcovers, and various packaging solutions to support the thriving e-commerce market.
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Key Companies
The key players in the global polypropylene market include China Petrochemical Corporation, Eastman Chemical Company, LG Chem, Exxon Mobil Corporation, SABIC, Lyondellbasell Industries Holdings B.V., BASF SE, and Sumitomo Chemical.
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