What is the future of Polypropylene Market? Know Covid Impact on Size, Share & Forecasts
It was estimated prior to this unanticipated outbreak that the Polypropylene Market was expected to grow at a CAGR of 5.7% during the forecast period.
Jun 10,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Polypropylene Market.
It was estimated prior to this unanticipated outbreak that the Polypropylene Market was expected to grow at a CAGR of 5.7% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Polypropylene is a thermoplastic polymer which is produced by combining propylene monomer with catalysts. As thermoplastic polymers are recyclable, their applications are growing in a wide array of industries such as packaging, automotive, building & construction, electrical & electronics, medical, and others. They are of basically two types i.e. homopolymer and copolymer.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the type, the market is segmented as homopolymer and copolymer. The homopolymer type dominated the market in 2020, and is expected to maintain its position during the forecast period. Homopolymer polythene is widely used in a large number of industries such as packaging, automotive, building & construction, and electrical & electronics owing to its better mechanical properties.
Based on the application type, the polypropylene market is segmented as injection molding, fiber & raffia, film & sheet, and blow molding. Fiber & raffia is expected to remain the largest application of the market owing to its widespread usage in carpets, carpet backing, and tapes. Injection molding is expected to remain the second-largest segment owing to the growing demand for molded products in increasing number of end-use industries.
Based on the end-use industry type, the polypropylene market is segmented as packaging, automotive, building & construction, electrical & electronics, medical, and others. Packaging industry is expected to maintain its dominant position in the market during the forecast period. Polypropylene is used in packaging of food and consumer products.
In terms of regions, Asia-Pacific is estimated to be the largest market for polypropylene during the forecast period. China, Japan, South Korea, Taiwan, and India are the largest consumers of polypropylene in the region. Significant economic development in the region is paving the path for electrical & electronic, packaging, building & construction, and automotive industries. Further, huge consumer base and significant economic development in the region are likely to boost the demand for polypropylene in the region. North America and Europe are also expected to witness a healthy demand for polypropylene material owing to the revival of the construction industry from the global economic slowdown.
Key Players:
Some of the key players in the Polypropylene Market are-
LyondellBasell Industries Holdings B.V.
Exxon Mobil Corporation
SABIC
DuPont
INEOS
Formosa Plastics Corporation
China Petrochemical Corporation and LG Chem
Eastman Chemical Company
BASF SE
Reliance Industries Limited
Westlake Chemical Corporation
Braskem
Haldia Petrochemicals Limited
Lotte Chemical UK LTD.
Trinseo
HPCL- Mittal Energy Limited
Brahmaputra Cracker And Polymer Limited
SACO AEI Polymers.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Polypropylene Market analysis report discusses the following heads in great detail:
Market structure: Overview, industry life cycle analysis, supply chain analysis
COVID-19 Impact Assessment
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Emerging trends
Strategic growth opportunities for the existing and new players
Key success factors
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