Polypropylene (PP) Market is Expected to Grow at a CAGR of 5.90% by 2030

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Polypropylene (PP) Market is Expected to Grow at
a CAGR of 5.90 by 2030
According to ChemAnalyst report, Polypropylene
(PP) Market Analysis Plant Capacity,
Production, Operating Efficiency, Demand
Supply, End Use, Distribution Channel, Region,
Competition, Trade, Customer Price Intelligence
Market Analysis, 2015-2030, Polypropylene
market has witnessed significant growth as it
reached 68.25 million tonnes in 2020 and is
anticipated to achieve a healthy global CAGR of
5.90 in the forecast period until 2030. Rapidly
increasing demand for high-quality plastic by
various end-user industries including packaging,
automotive, consumer goods, medical and others is
likely to boost the Polypropylene market across
the globe in upcoming years. Rising demand from
the flourishing packaging industry coupled with
the ascending consumption of packed food and
beverages will further propel the global
polypropylene market in the future. The
production of Polypropylene is highly associated
with the safety concerns on environment and human
health before it can be manufactured and
introduced in the market around. Read Full
Report Here https//www.chemanalyst.com/industry-
report/polypropylene-pp- market-640 Polypropylen
e (PP), also known as Polypropene, is a
thermoplastic polymer which is produced from the
polymerization of propylene monomers in the
presence of Ziegler-Natta or metallocene
catalyst. Polypropylene belongs to the group of
Polyolefins and is tough, rigid, non-polar and
crystalline in nature. Polypropylene is the
second-most widely produced plastic after
Polyethylene. Polypropylene can be easily
copolymerized with other polymers including
polyethylene, which significantly changes the
material properties, allowing for more robust
applications and making it an ideal material for
end-use industries. Polypropylene is a versatile
polymer that possesses excellent properties such
as high fatigue resistance, high chemical
resistance, high insulation, high elasticity and
toughness, and high transmittivity. It is an
important commodity plastic used in numerous
household and industrial applications like the
packaging for consumer products, plastic parts
for various industries
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including the automotive, consumer goods,
textiles, medical, and others. Polypropylene is
extensively used in the manufacturing of plastic
moldings, roofing membranes, electrical
insulators, ropes, carpets, rugs, ropes, etc. one
of the most common application for PP is as
biaxially oriented polypropylene (BOPP), which
are used in the making of variety of materials
including clear bags, etc. Request Sample
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m Global Polypropylene Market is segmented on
the basis of type, end-use, sales channel and
region. Based on different type, the global
Polypropylene market is segmented into
Polypropylene Homopolymers (PPH) and
Polypropylene Copolymers (PPC). These polymers
are widely utilized in packaging, healthcare,
textiles, automotive, electrical, and other
applications. On the basis of end-use industry,
the Polypropylene market is segmented into
packaging, automotive, medical, building
construction, electrical electronics, and
others. Rising demand of Polypropylene from
these end-use industries is driving the market
growth of polypropylene across the globe. The
packaging industry dominates the global
Polypropylene market as it is the most widely
used plastic, which mostly find its application
in food packaging. The automotive industry's
growing demand of Polypropylene is anticipated to
accelerate the global Polypropylene market in
upcoming years. As polypropylene is a low-cost
material with versatile mechanical properties, a
large number of plastic is used in the automotive
sector for instrumental panels, bumpers, door
trims, etc. exponentially increasing demand for
electric and hybrid electric vehicles (EV/HEV)
is further propelling the demand of PP by the
automotive industry and is likely to drive the
market growth in the future. Surging demand of
Polypropylene from building construction and
electricals electronics industries for
insulation purposes is forecasted to bolster the
global Polypropylene market he next few
years. In 2020, the pandemic caused by the
outbreak of COVID-19 triggered an unprecedented
decline in the Polypropylene market across the
globe which led to countrywide lockdowns and
strict restrictions across several nations to
contain the spread of deadly corona virus. During
the first half of 2020, many end-use industries
including construction, automotive, electrical
electronic, and others witnessed a drastic
decline in terms of demand and production.
However, Healthcare industry witnessed a
positive impact owing to the increased demand for
specialized polypropylene for medical masks,
gowns, and other safety kits during the covid
times. Among different regions, the Asia Pacific
region dominated the global Polypropylene market
in the 2020 and is projected to maintain its
dominance over the next ten years. Rapidly
increasing demand for Polypropylene from the
packaging and automotive industry, especially in
emerging economies like China, Japan, and India
is expected to drive the Polypropylene market in
the Asia Pacific region. Growing demand of
Polypropylene for Building and construction
activities in the Asia Pacific region will
further accelerate the Polypropylene market
worldwide in the future. Surging demand of
Polypropylene by the food and beverage industry
in countries like U.S., Canada, and Mexico, will
augment the Polypropylene market in North America.
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Polypropylene Market Analysis Plant Capacity,
Production, Operating Efficiency, Demand
Supply, Application, End Use, Distribution
Channel, Region, Competition, Trade, Customer
Price Intelligence Market Analysis, 2015-2030,
some of the major players operating in
Polypropylene market include Formosa Plastics
Group, Braskem, China Petrochemical Corporation,
LG Chem, SABIC, DuPont, Sumitomo Chemical,
LyondellBasell Industries Holdings B.V., Exxon
Mobil Corporation, INEOS, Eastman Chemical
Company, Westlake Chemical Corporation, BASF SE,
Reliance Industries Limited, Haldia
Petrochemicals Limited, Lotte Chemical UK LTD.,
Trinseo, HPCL- Mittal Energy Limited, and Others.
Rapidly growing demand of Polypropylene from the
flourishing packaging and automotive industry,
in emerging economies like China, Japan, India,
and others is likely to boost the global
Polypropylene market in the Asia Pacific region,
which will further boost the global Polypropylene
market over the next ten years. said Mr. Karan
Chechi, Research Director with TechSci Research,
a research-based management consulting firm
promoting ChemAnalyst worldwide. Report
Scope In this report, Polypropylene market has
been segmented into following categories, in
addition to the industry trends which have also
been detailed below
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Attribute Details
Market size volume in 2020 68.25 million tons
Growth Rate CAGR of 5.90 from 2021 to 2030
Base year for estimation 2020
Historic Data 2015 2019
Forecast period 2021 2030
Quantitative units Revenue in USD million/billion and CAGR from 2021 to 2030
Report coverage Revenue forecast, demand supply, competitive analysis, competitive landscape, growth factors, and trends
Segments covered End Use (Pharmaceuticals, Cosmetics and Personal Care, Food Beverages, Building Construction, Automotive and Others) Grades (PPG-1000, PPG- 2000, PPG-3000, PPG-4000, and PPG- 6000) Distribution Channel (Direct/Institutional Sales, Other Channel Sales) Region
Regional scope North America Europe Asia Pacific South America Middle East Africa
Country scope United States Mexico Canada China India Japan South Korea Taiwan Singapore Germany Belgium France United Kingdom Spain Italy Sweden Austria Saudi Arabia Iran South Africa Brazil Argentina
Key companies profiled Formosa Plastics Group, China Petrochemical Corporation, LG Chem, Sumitomo Chemical, LyondellBasell Industries Holdings B.V., Exxon Mobil Corporation, SABIC, DuPont, INEOS, Eastman Chemical Company, Westlake Chemical Corporation, BASF SE, Reliance Industries Limited, Braskem, Haldia Petrochemicals Limited, Lotte Chemical UK LTD., Trinseo, HPCL- Mittal Energy Limited, and Others
Customization scope Free report customization with purchase. Addition or alteration to country, regional segment scope.
Pricing and purchase options Avail customized purchase options to meet your exact research needs. Explore purchase options
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