Polypropylene Market Sales, Size, Share and Forecast 2027

Global Polypropylene Market: Highlights

The global polypropylene market is projected to grow at a CAGR of more than 5.5% between 2019 and 2027. The substantial growth from packaging and construction industry is anticipated to drive global polypropylene market during the forecast period.
Polypropylene possesses beneficial properties such as high surface hardness, good tensile strength, and strong chemical resistance. Hence, it is one of the most versatile polymers used in packaging, automobile, construction, electrical & electronics, and medical industries.
The largest buyers of polypropylene resins are plastic convertors or OEMs. However, most polymer manufacturers are vertically integrated and captively consume polypropylene for conversion into sheets, films, etc.
Increasing concern about adverse effects of plastics on the environment and volatile raw material prices are likely to restrain growth of the polypropylene market. Polypropylene manufacturers are shifting their focus toward biobased polypropylene and are likely to provide significant opportunities by 2027.
Various grades available commercially for polypropylene include homopolymers, block copolymers and random copolymers. Random copolymers have lower melting point and offer more flexibility and optical clarity. Homopolymers are widely used polymers especially for automobile parts, textiles, pipes, electrical appliances, etc.

Global Polypropylene Market: Segmental Trends

In terms of volume, packaging was the largest and fastest-growing segment of the global polypropylene market, accounting for more than 45% share in 2018. Polypropylene has distinguished utilities in both flexible and rigid packaging due to its ability to resist strong chemicals and high temperature. It has good barrier to moisture, odors and gases. Hence, widely used on food packaging especially for snack foods, dried foods, etc.
Medical packaging is one of the major segments of polypropylene market. It has several applications in medical devices and packaging. Owing to sterilization and transparent processes polypropylene is projected to boost market growth in the coming years.
Automotive accounted for second largest share in global polypropylene market in 2018. Robust demand for lightweight motor vehicles in emerging as well as developed regions is estimated to accelerate growth of the polypropylene market. Polypropylene is lightweight and offers optimal balance of mechanical properties and excellent surface finish to vehicles. Hence, it easily replaces metal. Polypropylene is 15% to 20% lighter than other plastics. Thus, it considerably reduces the overall weight of vehicles. This, in turn, reduces fuel consumption and carbon dioxide emissions. It is mainly used in the manufacturing of bumpers, cladding, car batteries and interior elements.
Polypropylene also finds wide application in fashion and sports industry. It has resistance to environmental factors such as mold, bacteria, water and sun. It is used in sports equipment, clothes, outdoor appliances, etc.

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Global Polypropylene Market: Competition Landscape

Leading players in market include BASF SE, LyondellBasell Industries N.V., Total S.A., Braskem, SABIC, Sinopec, Borealis AG, Reliance Industries Limited, Formosa Plastics Corporation, Sasol, INEOS Group Holdings, Japan Polypropylene Corporation, and Exxon Mobil Corporation.
Most of the manufacturers are focusing on offering biobased polypropylene due to government regulations and consumer awareness for ecofriendly products.

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