The growing demand for polypropylene in the 3D printing industry and the increased installation of propane dehydrogenation will boost market growth.
polypropylene Market Size – USD 151.57 Billion in 2021, Growth - CAGR of 5.09%, Trends – BOPP in food packaging
According to a new report by Reports and Data, the global polypropylene Market is forecast to reach USD 239.84 Billion by 2030. Increasing adoption of PP in the 3D Printing industry owing to its superior chemical resistance is a significant factor influencing market demand. Polypropylene has the lowest density out of all commonly used in manufacturing plastics, which makes it very light. Other benefits associated with the material, including flexibility, durability, and electrical resistance, make it highly practical for the industry. Currently, the product is being used in the healthcare sector to manufacture medical vials, diagnostic devices, specimen bottles, and pill containers.
Opportunities for Players Operating in The Global PP Powder Market:
As a result of the high level of competition among companies, a number of new product releases have been noted, while some current players continue to work on developing strategies that will better satisfy customers' needs at lower costs and provide them with more benefits than ever before.
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Top Leading Players: Sinopec, CNPC, INEOS, Hong Ji Petrochemcial, Nanjing Petro-chemical, Jianyuanchun Chemical, Daqing Huake, Yongxing Chemical, Tianli High New industry, Dongfang Hongye Chemical, Xingchang Petrochemical, Chambroad Petrochemicals
Further key findings from the report suggest
Polypropylene is one of the fastest-growing polymers. This growth is mostly attributed to polypropylene’s ability to displace conventional materials such as wood, glass, and metal at a lower cost. The material offers excellent chemical resistance and weldability, which makes it ideal for the automotive industry, consumer goods, and packaging applications.
The demand for PP resins for moulding is projected to grow significantly in the coming years. PP exhibits specific properties, such as chemical resistance, low density, outstanding property balance, and versatility, which makes it apt for a wide range of applications.
Polypropylene is majorly used for food packaging. It is widely used for sweet and snack wrappers, hinged caps, and microwave containers. Furthermore, since PP containers do not leach chemicals, they are considered safe for packaging applications.
Increasing adoption of Biaxially Oriented Polypropylene (BOPP) films in food packaging is also a significant trend observed in the market. Benefits associated with BOPP films, including low moisture transmission rate, excellent slip, and optical properties, high tensile strength, and low thermal shrinkage, have driven their demand for food packaging applications.
The automotive segment is expected to have lucrative growth during the forecast period due to the increased production of automobiles. Polypropylene is widely used in automotive parts due to its low cost, outstanding mechanical properties, and moldability. Main application areas include battery cases and trays, bumpers, fender liners, interior trim, instrumental panels, and door trims.
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Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Extrude Grade
- General Grade
- Coated Grade
- Spinning Grade
Application Type Outlook (Revenue, USD Billion; 2018-2028)
- Plastic Woven Industry
- Homopolymer Injection Products
- Fibre Products
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Key questions covered in the global Polypropylene Powder (PP) market report:
- What is the expected market size of the global Polypropylene Powder (PP) market during the forecast period?
- What factors are expected to hamper global Polypropylene Powder (PP) market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Polypropylene Powder (PP) market?
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