November 26, 2020

Sales of Polypropylene Predicted to Boom in Asia-Pacific in Future

With the rapid growth of the nonwoven polypropylene fiber industry, the demand for polypropylene is rising rapidly all over the world. As per an article published in the International Fiber Journal, 14.9 million tons of nonwoven roll goods were used across the world in 2018. The staple fiber accounted for 59% of the worldwide nonwoven industry. Out of this, the polypropylene staple fibers recorded 11% share in the industry. This amounts to nearly 1.0 million tons.
This was because of the increasing requirement for polypropylene staple fibers in various end-use applications such as needle punch durables that are consumed by vehicle components, geotextile, coating substrate, blankets, indoor & outdoor carpeting, bedding, and upholstered furnishing. Besides this, the growing utilization of polypropylene in the packaging industry is also fueling the surge in its demand all over the world. The rising customer requirement for sustainable packaging is propelling the usage of this material in packaging applications.
The high tensile strength of polypropylene makes it ideal for use in the packaging industry, where the demand for sustainability is growing rapidly, mainly because of the rising waste generation by the industry. Because of these factors, the sales of polypropylene are ballooning around the world, thereby causing the boom of the global polypropylene market. The valuation of the market is predicted to rise from $122.7 billion to $226.8 billion from 2019 to 2030.

Furthermore, the market is expected to progress at a CAGR of 5.7% between 2020 and 2030. Depending on application, the polypropylene market is classified into fiber, raffia, blow molding, film & sheet, and injection molding. Out of these, the injection molding category is predicted to dominate the market in the future years. The density of polypropylene falls in the range of 0.895 and 0.92 g/cm, which makes it one of the lowest density plastics available in the world.
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Moreover, the low densities of the material make it perfectly suitable for being molded into all sizes and shapes with the help of various injection molding systems and equipment. This molding is done for manufacturing automotive & marine components and parts, recreational vehicle (RV) products, and household goods. Geographically, the polypropylene market recorded the highest growth in the Asia-Pacific (APAC) region in the past, as per the findings of P&S Intelligence, a market research firm based in India.
Furthermore, the market is predicted to demonstrate the fastest growth in the APAC region in the upcoming years. This would be a result of the increasing utilization of polypropylene in consumer & institutional, packaging, transportation, building & construction, electrical & electronic, machinery, and furniture & furnishings industries. Because of the low cost and excellent moldability and mechanical properties of the material, it is extensively used for replacing the automobile weight and improve the fuel economy.
Hence, it can be safely concluded that the demand for polypropylene would surge all over the world in the forthcoming years, primarily because of the rising requirement for the material in the packaging industry and the boom of the nonwoven polypropylene fiber industry around the world.