The global polypropylene market size was USD 100 Billion in 2022 and is expected to register a revenue CAGR of 6% over the forecast period, according to the latest report by Reports and Data.
Polypropylene, an adaptable synthetic polymer, finds application in a diverse array of fields owing to its unique attributes such as remarkable rigidity, exceptional tensile potency, and remarkable resilience against chemical agents. Furthermore, the escalating utilization of polypropylene in the packaging of Food & Beverage (F&B), Cosmetics, and pharmaceutical products is poised to propel the market's revenue growth.
Polypropylene is widely favored across various applications for its ability to impart durability and provide protection. In the automotive sector, polypropylene plays a crucial role as it offers lightweight characteristics, cost-effectiveness, and recyclability. It finds applications in numerous vehicle components, including bumpers, interior trims, and door panels. Similarly, the construction industry relies on polypropylene due to its robust chemical resistance and durability, which make it suitable for applications such as pipes, insulation, and roofing.
Furthermore, the growing demand for affordable and secure medical equipment and packaging materials is expected to contribute to the market's revenue growth. In the healthcare sector, polypropylene is extensively used due to its non-toxic and non-reactive properties, making it suitable for medical devices, surgical tools, and packaging materials. Additionally, the increasing adoption of environmentally friendly and sustainable products is anticipated to drive market revenue growth. Polypropylene is favored by numerous industries as it aligns with sustainability goals and environmentally conscious practices.
The United States Environmental Protection Agency (EPA) controls polypropylene production and usage through a variety of rules, including those pertaining to hazardous air pollutants, Volatile Organic Compounds (VOCs), and other criterion pollutants.
In Europe, the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) Regulation established safety requirements for substances produced or imported into the European Union and limits the use of certain materials, such as polypropylene, that are known to be carcinogenic or toxic to reproduction.
Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @
https://www.reportsanddata.com/download-free-sample/1663
Some Key Highlights from the Report
· The homopolymer and copolymer categories account for the vast bulk of the global polypropylene market. The homopolymer market has lately contributed considerably to the global polypropylene market's revenue share. This is explained by homopolymer polypropylene's improved mechanical strength, stiffness, and resistance to harsh chemicals and high temperatures. Because of these characteristics, it may be employed in a range of industries, including the automotive and packaging sectors.
· Polypropylene has mostly been employed in the packaging industry due to its light weight, low cost, and high durability. Polypropylene packaging is widely used in food and beverage packaging, consumer products packaging, industrial packaging, and other applications. Polypropylene demand in the packaging sector is expected to rise further due to the increased need for ecologically friendly and sustainable packaging materials.
· In 2021, the Asia Pacific market topped the other regional polypropylene markets. Polypropylene demand is increasing due to the growth of the packaging, automotive, and construction sectors in this region. Furthermore, the growth of the consumer goods sector and expanding populations in countries such as China and India have raised the demand for polypropylene-based items. The area is expected to increase greatly throughout the forecast period due to growing industrialization and urbanization. Furthermore, the Asia Pacific region's market is expected to grow as a consequence of the growing usage of sustainable materials in a variety of applications, including packaging and textiles.
· Some of the prominent players profiled in the global polypropylene market include ExxonMobil Chemical, BASF SE, INEOS Group, Total S.A., SABIC, LyondellBasell Industries N.V., Braskem, Formosa Plastics Corporation, Reliance Industries Limited, and Borealis AG.
· In 2021, LyondellBasell made an announcement regarding the expansion of its polypropylene compounding capacity in Europe. The company planned to establish a new production line at its existing facility in Poland. This strategic expansion aimed to cater to the growing demand for lightweight and sustainable materials, particularly in the automotive industry.
· In 2020, INEOS Group successfully completed the acquisition of BP's global Aromatics and acetyls business, which included the ownership of a polypropylene plant located in Decatur, Alabama. This acquisition served the purpose of augmenting INEOS's presence in the North American market and enhancing its overall production capacity.
· BASF SE: In 2021, BASF introduced a new polypropylene grade known as Ultramid Advanced T2000. This innovative grade is specifically engineered to provide exceptional strength and stiffness even at elevated temperatures. It is designed to be utilized in a wide range of applications, including automotive, electrical, and industrial sectors.
· Formosa Plastics Corporation: In 2020, Formosa Plastics Corporation unveiled a new series of high-performance polypropylene products called Formolene E1050 Series. These products offer outstanding impact resistance and dimensional stability, making them highly suitable for diverse applications such as automotive, packaging, and consumer goods.
Strategic Development:
· In 2021, LyondellBasell announced that it was expanding its polypropylene compounding capacity in Europe, with a new production line at its existing facility in Poland. The expansion was aimed at meeting the growing demand for lightweight and sustainable materials in the automotive industry.
· In 2020, INEOS Group completed the acquisition of BP's global Aromatics and acetyls business, which included a polypropylene plant in Decatur, Alabama. The acquisition was aimed at expanding INEOS's presence in the North American market and increasing its production capacity.
· In 2020, Total S.A. announced that it had entered into an agreement with PureCycle Technologies to develop a new recycling facility for polypropylene. The facility was aimed at producing high-quality recycled polypropylene that can be used in various applications, including packaging, automotive, and consumer goods.
· In 2020, SABIC launched a new range of high-impact polypropylene copolymers that are designed for use in automotive applications. The new range, called STAMAX, offers excellent impact resistance and dimensional stability, making it ideal for use in exterior and interior automotive parts.
· In 2020, ExxonMobil Chemical announced that it had developed a new polypropylene grade, called Achieve Advanced PP, that offers improved performance and reduced environmental impact. The new grade is designed for use in various applications, including packaging, automotive, and consumer goods.
Browse press release: https://www.reportsanddata.com/press-release/global-polypropylene-market
Polypropylene Market: Notable Innovations
· In the polypropylene market, several notable innovations have emerged in recent years, driving advancements and expanding the range of applications for this versatile polymer. Some of these innovations include:
· Biodegradable Polypropylene: Researchers and manufacturers have been working on developing biodegradable polypropylene materials. These eco-friendly alternatives are designed to break down naturally, reducing plastic waste and environmental impact.
· High-Melt-Strength Polypropylene (HMS-PP): HMS-PP is engineered to have improved melt strength and processability. This innovation has found applications in blow molding, thermoforming, and foaming processes, making it suitable for various packaging and automotive components.
· Reinforced Polypropylene Composites: Polypropylene reinforced with materials like glass fibers, carbon fibers, or natural fibers has been gaining traction. These composites offer enhanced mechanical properties, making them suitable for structural components in automotive and construction industries.
· Polypropylene Foam: Lightweight and thermally insulating polypropylene foam materials have been developed for applications in the automotive, packaging, and construction sectors. These foams provide energy efficiency and weight reduction benefits.
· Functionalized Polypropylene: Innovations in functionalizing polypropylene have led to materials with improved adhesion, compatibility, and surface properties. These modified polypropylenes find use in adhesive formulations and as compatibilizers in polymer blends.
· Recycled and Circular Polypropylene: Efforts to enhance the sustainability of polypropylene include the development of recycled and circular polypropylene materials. These aim to reduce the environmental impact of plastic production by reusing and recycling polypropylene.
· Polypropylene in 3D Printing: Polypropylene filaments for 3D printing have been introduced, expanding the range of materials available for additive manufacturing. This enables the creation of complex and durable parts.
· These innovations in the polypropylene market reflect the ongoing research and development efforts to enhance the properties and sustainability of this widely used polymer. They also contribute to the diversification of applications and industries that benefit from polypropylene materials.
Browse Related Reports:
Paper Edge Protectors Market
https://www.reportsanddata.com/report-detail/paper-edge-protectors-market
Passive Temperature Controlled Packaging Solutions Market
Vacuum Packaging Market
https://www.reportsanddata.com/report-detail/vacuum-packaging-market
Rubber Tapes Market
https://www.reportsanddata.com/report-detail/rubber-tapes-market
Transport Packaging Market
https://www.reportsanddata.com/report-detail/transport-packaging-market
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek