The report “Polypropylene Market by Type (Homopolymer, Copolymer), Application (Injection Molding, Fiber & Raffia, Film & Sheet, and Blow Molding), End-Use Industry (Packaging, Automotive, Building & Construction, Medical), and Region – Global Forecast to 2022″, The polypropylene market is estimated at USD 75.40 Billion in 2017 and is projected to reach USD 99.17 Billion by 2022, at a CAGR of 5.6% between 2017 and 2022. Properties of polypropylene, such as low density, light weight, high heat resistance, durability, and high clarity make it a suitable material for packaging. Polypropylene is also used in building & construction and electricals & electronics to insulate building wraps and electronics goods.
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- 119 Market data Tables
- 50 Figures
- 154 Pages and in-depth TOC on “Polypropylene Market – Global Forecast to 2022”
Some of the prominent key players are:
· LyondellBasell (The Netherlands)
· SABIC (Saudi Arabia)
· Exxon Mobil Corporation (US)
· DuPont (US)
· INEOS (Switzerland)
· Total S.A. (France)
· Formosa Plastics Group (Taiwan)
· China Petrochemical Corporation (China)
· LG Chem (South Korea)
· Sumitomo Chemicals (Japan))
Driver: Growth of key end-use industries
The growing demand from end-use industries such as packaging, automotive, building & construction, healthcare, and electricals & electronics is the primary growth driver for the polypropylene market. Polypropylene is a low-cost material with excellent mechanical properties and moldability. Due to this, more than half of the plastic used in the automotive sector is polypropylene. Polypropylene is used in different parts, such as bumpers, instrumental panels, and door trims.
The properties of polypropylene, such as low density, lightweight, high heat resistance, durability, and high clarity make it a suitable material for packaging. Polypropylene is also used in building & construction and electricals & electronics for insulating building wraps and insulation of electronics goods. The Ministry of Industry and Information Technology of China predicts the country’s electric car sales to double in the coming few years. All these factors act as critical growth drivers for polypropylene.
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Packaging end-use industry to dominate the overall polypropylene market between 2017 and 2022.
The packaging industry led the polypropylene market, and the trend is estimated to remain the same during the forecast period. Polypropylene is the most-widely used plastic for packaging. It is majorly used in food packaging applications where there is direct contact with food or beverages. The reason for this is that polypropylene does not leak chemicals into the food. It is also used in water bottles, toys, steering wheels, and others.
The automotive sector is the second-largest end-use industry of polypropylene. The main driving factor for polypropylene in the automotive industry is the increasing demand for electric and hybrid electric vehicles (EV/HEV). Polypropylene can be used as an insulating material for high voltage carrying cables as well as in the interior of the vehicle. Polypropylene provides lightweight, thinner, and flexible insulation.
APAC market is expected to grow at the highest CAGR during the forecast period.
APAC led the global polypropylene market, both in terms of volume and value. The APAC market is also estimated to record the highest growth in terms of volume between 2017 and 2022. Increased demand for polypropylene from packaging, automotive, building & construction, electricals & electronics, and medical industries in countries such as China and India is driving the growth of the market in APAC.