Harrisburg, NC -- (SBWIRE) -- 10/20/2020 -- The polypropylene market consists of sale of polypropylene and related services. Polypropylene is a thermoplastic polymer produced by chain-growth polymerization of the monomer propylene and is used in automotive fittings and industrial fibers. It is resilient and resistant to fatigue and highly resistant to most acids and alkalis.

The global polypropylene market was worth $126.03 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 12% and reach $192.33 billion by 2023.

The polypropylene market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The Asia-Pacific polypropylene market was largest in 2018. It is expected to grow at a compound annual growth rate (CAGR) of 4.10%.

The polypropylene market covered in this report is segmented by type into homopolymer, copolymer. It is also segmented by end-use industry into packaging, automotive, consumer products, electrical and electronics, other end-use industry

Rising demand for thermoplastic materials contributed to the growth of the polypropylene market. Due to its unique chemical properties, thermoplastic materials can be recycled and remolded without affecting its physical properties. Thus, making thermoplastic materials much useful in many applications such as clothing, packaging, food and beverages. Additionally, they are also used in heavy duty applications such as aerospace, military and medical industries. For instance, in 2017, according to 'AZO Materials', the demand for thermoplastic materials has increased globally with more than 100 million tons of thermoplastic materials being used in various applications. The rising demand for thermoplastic materials increased the demand for polypropylene market thereby driving the market.

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Top leading Manufactures Profiled in Polypropylene Market Report are:

Lyondellbasell, Sinopec, Sabic, Exxon Mobil, Braskem, PetroChina, Reliance Industries, Formosa Plastics, Borealis, Asahi Kasei Plastics

By Type: Homopolymer; Copolymer 2) By End Use Industry: Packaging; Automotive; Consumer Products; Electrical and Electronics; Other End-user Industry

Polypropylene Market Scenario:

Variations in the prices of raw materials such as crude oil prices have always been a major challenge in the polypropylene market. Fluctuating crude oil prices increases the operating expense affecting the bottom line of manufacturing companies in this market. For instance, in 2018, according to the Business Standard, polypropylene became costlier by 4.6% due to rising oil prices. Crude oil is the main source of petrochemicals as plastics are produced primarily from petroleum products and therefore crude oil prices are one of the key factors affecting plastic costs, making them very volatile. Volatile prices thereby have a negative impact on the polypropylene market, affecting the markets growth.

Eco-friendly polypropylene compounds are increasingly being used due to strict rules and regulations of government over recycling and environment protection. The polypropylene compounds possess unique qualities, making it more favorable and an alternative in the automotive industry. For example, Grand Siam Composites, a joint venture between SCG Chemicals, Mitusui Chemicals Inc., and Prime Polymer, has developed new technologies and inventions to produce high quality products that are environment friendly. With those advancements, GSCs polypropylene compounds are producing high quality automobile parts such as consoles, instrument panels, bumpers, door panels and various accessories.

In March 2018, Plastiche SA, a Belgium-based specialty chemical products company, controlled by Roussis family holdings acquired Bamberger Polymers Corp., for an undisclosed amount. This acquisition is a natural extension to holdings of Roussis family, but Bamberger will continue to operate independently. Bamberger Polymers Corp. is a USA-based plastics manufacturing company and specializes in products including polypropylene.

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The key insights of the Polypropylene Market report:

The report provides key statistics on the market status of the Polypropylene market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.

The report provides a basic overview of the industry including its definition, applications and manufacturing technology.

?The Polypropylene market report presents the company profile, product specifications, capacity, production value, and 2014-2020 market shares for key vendors.

The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.

The report estimates 2020-2026 market development trends of Polypropylene Market.

Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out

The report makes some important proposals for a new project of Polypropylene Industry before evaluating its feasibility.

Browse the Full report description and TOC at:

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In conclusion, Polypropylene market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function a profitable guide for all the Polypropylene Industry business competitors. Our expert research analyst's team has been trained to provide in-depth market research report from every individual sector which will be helpful to understand the industry data in the most precise way.

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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