Polypropylene Market Size is projected to reach USD 158.2 Billion by 2030, growing at a CAGR of 3.38%: Straits Research
The global polypropylene market size was worth USD 122.5 billion in 2021. It is expected to reach USD 158.2 billion by 2030, growing at a CAGR of 3.38% during the forecast period (2022–2030). North America is predicted to have the fastest growth rate during forecast period.
New York, United States, Sept. 13, 2022 (GLOBE NEWSWIRE) -- There is a huge demand for effective plastic packaging products, especially in the healthcare and food packaging industries. Polypropylene is best suited for packaging due to its properties, such as tensile strength, good chemical and heat resistance, durability, which retains the quality of the product.
Further, the COVID-19 pandemic has reemphasized the indispensable role of plastics in our daily life. Due to their inherent properties, polypropylene in the form of personal protective equipment (PPEs) and other single-use medical equipment, as well as packaging solutions, have emerged as a life-saver for protecting the health and safety of frontline health workers and ordinary citizens during the pandemic.
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Market Segmentation
Polypropylene is used in various medical applications, including devices, drug-delivery systems, non-woven fabrics, and medical-grade packaging. Due to its unique properties, it is widely used as a critical component in medical implant operations. Polypropylene in the medical devices segment in the United States was valued at USD 247.7 million in 2018 and is expected to grow in the future.
The polypropylene market is expanding due to increased demand for lightweight polymers from consumer goods, electronics, and automotive industries. The automotive industry is also one of the largest end-use industries of polypropylene. Polypropylene is the most frequently used plastic in automobiles due to its easy processability, good sealing, and stiffness. Exponentially rising demand for electric and hybrid electric vehicles (EV/HEV) is propelling the demand for polypropylene further and is likely to augment the market growth in the future. According to Edison Electric Institute (EEI), there were 1 million electric cars on the roads in 2018, and it is estimated to reach 18 million by 2025.
Besides polypropylene, other plastic materials such as polyethylene (PE) and polyethylene terephthalate (PET) compete with polypropylene. These substitutes, particularly polyethylene, have properties that are similar to polypropylene. Their market availability is gradually increasing, posing a threat to the growth of the polypropylene market.
Report Scope
Report Metric | Details |
Market Size | USD 158.2 Billion by 2030 |
CAGR | 3.38% (2022-2030) |
Historical Data | 2019-2020 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Forecast Units | Value (USD Billion ) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Types, End-User, Regions |
Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
Key Companies Profiled/Vendors | LyondellBasell, Borouge, SABIC, Orpic, Reliance Industries Limited, Bracken, Tasnee, China Petrochemical Corporation, and ExxonMobil Chemicals |
Key Market Opportunities | Surging Demand from Food and Beverage Packaging Industries |
Key Market Drivers | Rising raw material prices, rapid industrialization |
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Regional Analysis
The Asia-Pacific region dominated the Polypropylene market in 2020 and is expected to maintain its dominance through the forecast period until 2030. Growing demand for polypropylene from the packaging and automotive industries, particularly in emerging markets such as China, India, and Japan, is expected to drive the Asia Pacific market.
The growing demand for polypropylene by the food and beverage industries in the United States, Canada, and Mexico will drive the North American Polypropylene market. In the United States, the flexible packaging market is growing swiftly, owing to its benefits, such as easy handling, compact packaging, and lightweight. The U.S. packaging industry was valued at USD 181.92 billion in 2019. It is expected to reach a value of USD 216.36 billion by 2025, at a CAGR of 4.5% from 2020–2025. This positive momentum is expected to drive the growth of the polypropylene market over the forecast period. The polypropylene market, with its diversified applications globally, is a booming market.
Key Highlights
The polypropylene market size is predicted to reach USD 158.2 billion, with a CARG of 3.38% during the assessment period.
In the past, homopolymer bifurcation dominated the polypropylene market's type segment. Homopolymers are stronger and stiffer than polypropylene copolymers because of their higher strength-to-weight ratio.
Due to the ongoing expansion in population, APAC is likely to have significant growth and demand as the packaging and vehicle industries expand. China, India, and Japan are the main contributors to this region's market growth.
Due to the increasing usage of packaging in the food and beverage industry, and increased consumer demand for lightweight automotive components and electrical items in this region, North America is predicted to have the fastest growth rate.
Key players in the global Polypropylene market are
LyondellBasell
Borouge
SABIC
Orpic
Reliance Industries Limited
Bracken
Tasnee
China Petrochemical Corporation
ExxonMobil Chemicals
Global Polypropylene Market: Segmentation
By Types:
Homo-Polymer
Copolymer
By End-Users:
● Medical
● Packaging
● Consumer Goods
● Automotive
● Building
● Construction
By Regions:
North America
Europe
Latin America
Asia-Pacific
The Middle East and Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions and Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation and Scope
4.2 Key Market Trends
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porter’s Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of Substitution
4.3.4 Threat of New Entrants
4.3.5 Competitive Rivalry
4.4 Environment and Regulatory Landscape
4.5 Macro-Economic and Geopolitical Scenario
4.6 Parent Market Overview
4.7 Technology Landscape
4.8 Potential Venture Analysis
5 Type Overview
5.1 Introduction
5.1.1 Market Size and Forecast (Value)
5.2 Homo-Polymer
5.2.1 Market Size and Forecast (Value)
5.3 Copolymer
5.3.1 Market Size and Forecast (Value)
6 End-Users Overview
6.1 Introduction
6.1.1 Market Size and Forecast (Value)
6.2 Medical
6.2.1 Market Size and Forecast (Value)
6.3 Packaging
6.3.1 Market Size and Forecast (Value)
6.4 Consumer Goods
6.4.1 Market Size and Forecast (Value)
6.5 Automotive
6.5.1 Market Size and Forecast (Value)
6.6 Building
6.6.1 Market Size and Forecast (Value)
6.7 Construction
6.7.1 Market Size and Forecast (Value)
6.8 Others
6.8.1 Market Size and Forecast (Value)
7 Regional Overview
7.1 Introduction
7.1.1 Market Size and Forecast (Value)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.2.3 The U.S.
7.2.3.1 By Type
7.2.3.2 By End-Users
7.2.4 Canada
7.2.4.1 By Type
7.2.4.2 By End-Users
7.3 Latin America (LATAM)
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.3 Mexico
7.3.3.1 By Type
7.3.3.2 By End-Users
7.3.4 Brazil
7.3.4.1 By Type
7.3.4.2 By End-Users
7.3.5 Argentina
7.3.5.1 By Type
7.3.5.2 By End-Users
7.3.6 Rest of LATAM
7.3.6.1 By Type
7.3.6.2 By End-Users
7.4 Europe
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.3 Germany
7.4.3.1 By Type
7.4.3.2 By End-Users
7.4.4 France
7.4.4.1 By Type
7.4.4.2 By End-Users
7.4.5 The U.K.
7.4.5.1 By Type
7.4.5.2 By End-Users
7.4.6 Italy
7.4.6.1 By Type
7.4.6.2 By End-Users
7.4.7 Spain
7.4.7.1 By Type
7.4.7.2 By End-Users
7.4.8 The Rest of Europe
7.4.8.1 By Type
7.4.8.2 By End-Users
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.3 China
7.5.3.1 By Type
7.5.3.2 By End-Users
7.5.4 Japan
7.5.4.1 By Type
7.5.4.2 By End-Users
7.5.5 India
7.5.5.1 By Type
7.5.5.2 By End-Users
7.5.6 Australia
7.5.6.1 By Type
7.5.6.2 By End-Users
7.5.7 South Korea
7.5.7.1 By Type
7.5.7.2 By End-Users
7.5.8 Rest of APAC
7.5.8.1 By Type
7.5.8.2 By End-Users
7.6 The Middle East and Africa
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 GCC
7.6.3.1 By Type
7.6.3.2 By End-Users
7.6.4 South Africa
7.6.4.1 By Type
7.6.4.2 By End-Users
7.6.5 The Rest of the Middle East
7.6.5.1 By Type
7.6.5.2 By End-Users
8 Competitive Landscape — Manufacturers and Suppliers
8.1 Competition Dashboard
8.2 Market Share Analysis
9 Company Profiles
9.1 LyondellBasell
9.1.1 Business Overview
9.1.2 Financial Performance
9.1.3 Recent Developments
9.1.4 Product Portfolio
9.2 Borouge
9.2.1 Business Overview
9.2.2 Financial Performance
9.2.3 Recent Developments
9.2.4 Product Portfolio
9.3 SABIC
9.3.1 Business Overview
9.3.2 Financial Performance
9.3.3 Recent Developments
9.3.4 Product Portfolio
9.4 Orpic
9.4.1 Business Overview
9.4.2 Financial Performance
9.4.3 Recent Developments
9.4.4 Product Portfolio
9.5 Reliance Industries Limited
9.5.1 Business Overview
9.5.2 Financial Performance
9.5.3 Recent Developments
9.5.4 Product Portfolio
9.6 Bracken
9.6.1 Business Overview
9.6.2 Financial Performance
9.6.3 Recent Developments
9.6.4 Product Portfolio
9.7 Tasnee
9.7.1 Business Overview
9.7.2 Financial Performance
9.7.3 Recent Developments
9.7.4 Product Portfolio
9.8 China Petrochemical Corporation
9.8.1 Business Overview
9.8.2 Financial Performance
9.8.3 Recent Developments
9.8.4 Product Portfolio
9.9 ExxonMobil Chemicals
9.9.1 Business Overview
9.9.2 Financial Performance
9.9.3 Recent Developments
9.9.4 Product Portfolio
10 Conclusion and Recommendation
11 Acronyms and Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/polypropylene-market/toc
Market News
October 2021- SABIC announces the world’s first bio-based, certified renewable high-performance amorphous polymer to support customer sustainability goals. They launched a new portfolio of bio-based ULTEM resins that offer sustainability benefits.
October 2021- LyondellBasell manufactures polypropylene and polyethylene commercially with measurable and certified C14 renewable content from renewable feedstock. The renewable feedstock is produced by bio-based waste and residues, which offers a lower carbon footprint.
News Media
North American Market to Hold Substantial Share in the Polypropylene Market
Polyester or Polypropylene, What Will be the Future of Filter Bag?
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