Polypropylene Market (By Type: Copolymer, Homopolymer; By Application: Film & Sheet, Injection Molding, Fiber & Raffia, Blow Molding; By End User: Automotive, Packaging, Medical, Building & Construction) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

The global polypropylene (PP) market size is projected to reach around US$ 115 Bn by 2027 and is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 to 2027.

Polypropylene is one of the largest and single most organic resins in the world, commonly known as polypropene. It is a synthetic thermoplastic polymer of high molecular weight, which can easily be produced by catalytic propylene polymerization. Because of its high quality, demand is on the increase, especially in the automotive and consumer goods industries. This has offered the global polypropylene industry countless possibilities. In the worldwide polypropylene industry, the pattern of replacement with polypropylene in various sectors is also a contributing factor.

The report provides analysis of global Polypropylene market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Dynamics

A significant factor in the global polypropylene market's growth is growing demand for polypropylene from diverse end-use sectors, especially the food packaging and automotive industries. Convenient access to polypropylene, as well as strong demand for certain plastic forms that don't produce BisphenolA (BPA), endokrine disruptor that can contribute to specific health problems such as diabetes, heart diseases are the additional factors are expected to drive growth of the global polypropylene market over the forecast phase.

Fluctuating propylene costs is a significant factor limiting growth in the world's polypropylene industry. Strict environmental legislation on plastics disposal and the availability of substitutes will, also hamper the development of the global polypropylene industry in the forecast timeframe.

Regional Stance

North America held significant market share in 2019 and anticipated to govern the market amid the projected time span. The growing use of packaging in food and beverage industries is one of the key factors driving the growth of the US polypropylene industry. The United States food supply is divided amongst global companies including Tyson Foods, PepsiCo, Nestle and JBS USA. The amount of food and drink packaging products in the world is increasing. With its benefits including simple storage, portable packaging and lightweight, the versatile market for packaging is growing at a faster rate in the US.

In terms of population, the American electronics industry is the world's largest. Thanks to use of new technologies, growth in the number of R&D centers and growing customer demand, the industry is expected to stay the leader over the forecast phase. There is a steady growth of the electronics industry in the region. In addition, the market is likely to continue to grow, growing the use of polypropylene in the US, with companies investing increasingly in the electronics sector of the world. Such strong growth in various sectors is expected to raise the demand for polypropylene n near future.

Report coverage

The market research study on “Polypropylene Market (Polypropylene Market By Type: Copolymer, Homopolymer; Polypropylene Market By Application: Film & Sheet, Injection Molding, Fiber & Raffia, Blow Molding; Polypropylene Market By End User: Automotive, Packaging, Medical, Building & Construction) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Polypropylene market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Polypropylene market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Polypropylene market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Polypropylene market is segmented as below:

Market Segmentation

Polypropylene Market By Type

• Copolymer
• Homopolymer

Polypropylene Market By Application

• Film & Sheet
• Injection Molding
• Fiber & Raffia
• Blow Molding

Polypropylene Market By End User

• Automotive
• Packaging
• Medical
• Building & Construction

Polypropylene Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

Key Players and Market Situation

Participants include major global players such BASF AG, Braskem, LyondellBasell Industries Holdings B.V., Japan Polypropylene Corporation, China Petroleum & Chemical Corporation (Sinopec), SABIC (Saudi Basic Industries Corporation), Total Refining and Chemicals Business, Reliance Industries Limited,, Others.

The introduction of products as their main approach, followed by collaborations and alliances has been embraced by leading industry players. Polypropylene saw the big product releases in comparison to high-efficiency and narrower device goods.