New York, NY -- (SBWIRE) -- 11/26/2020 -- Polypropylene Market: An Overview

According to a new market analysis by Reports and Data, the global polypropylene market is forecast to surpass a valuation of USD 205.61 Billion by 2027. Increasing adoption of polypropylene in the 3D printing industry thanks to its excellent chemical resistance is a considerable factor influencing market demand. Polypropylene has the lowest density among commonly used plastics in manufacturing, meaning that it is very light. Other benefits of the material, includes flexibility, durability, and electrical resistance, making it highly practical for the various industrial applications.

Benefits associated with PP, such as impact strength, greater rigidity, and fluidity are projected to drive their adoption in the automotive industry. In recent decades, several companies have launched PP compounds that offer light-weighing alternatives for interior, exterior, and under-the-bonnet automotive parts. PP is widely used for interior trim, battery casings, exterior panels, bumpers, and instrument panels in the automotive sector. PP is being used in the healthcare sector to manufacture diagnostic tools, vials, specimen containers, and pill containers.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1663

Polypropylene Market Dynamics

The expansion of the building and construction sector and investment in infrastructural development have led to robust demand for resins in applications, including roofing, insulation, windows, piping, and house wrap. The use of plastics like polypropylene promotes energy efficiency and energy savings in both residential and non-residential building and construction.

Increasing adoption of PP in packaging industry is also a foremost influencing factor market growth. BOPP film is a favored high-barrier material in food packaging applications. Owing to its benefits such as ease of processing, low price, and chemically inertness, PP has successfully replaced metals, wood, cellophane, glass, and paper in various applications. For example, the product is being increasingly used for film extrusions, that are used in food and confectioneries packaging. It is also being used in the manufacturing of caps and closures used for food & beverages, and personal care products.

The increasing global installation of propane dehydrogenation (PDH) facilities is anticipated to influence PP market demand. In the U.S. and Canada, ethane steam crackers have reduced the production of propylene. Thus, companies have been shifting to PDH for the production of propylene. Statistics suggest, since 2010, more than 2 million metric tons/year of new PDH capacity have been added in both the U.S. and Canada, and around 1.6 MMTPA capacity is at present under development.

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1663

 Polypropylene Market: Regional Outlook

North America propylene market is projected to be a leading revenue generating region over the forecast period registering a CAGR of 5.8%. Increasing adoption of PP in the U.S. is a key factor stimulating demand. In the U.S., propylene is the second-most commonly produced thermoplastic material after polyethylene. The benefits of PPs such as flexibility, melt temperature, toughness, electrical resistance, permeability, and chemical resistance, have driven its demand in end-use industries.

Europe propylene market is projected to witness a CAGR of 4.4% over the forecast period. Increasing adoption of PP in the construction sector is likely to foster product demand. PP is used in construction applications such as air barrier membranes, carpet textiles, moisture barrier membranes, insulating films and sheet wraps, and in plastic parts such as pipes. The climbing demand for light-weight automobiles has also driven the demand for plastics particularly, PP in the region. Manufacturers in the region have shown greater preference for polymers and plastic composites in order to achieve better fuel efficiency levels.  

Polypropylene Market:Key Players

BASF SE,
China National Chemical Corporation (CHEMCHINA),
Dow Chemical Company,
ENI S.P.A.,
Exxon Mobil Corporation,
Braskem,
INEOS Group Holdings S.A.,
LyondellBasell Industries N.V.,
Saudi Basic Industries Corporation,
SINOPEC,
TOTAL Specialties USA, Inc. 

The COVID-19 Impact on Polypropylene Market:

The spread of Covid-19 poses a threat to the global oil and gas industry due to various factors. The drastic action taken to curb the spread of the virus has had a significant impact on different sectors. For instance, offshore workers have been forced to work and live in confined spaces while maintaining social distancing norms. Travel bans and quarantines limit ability of any company to facilitate travel and conduct meetings. The uncertainty that envelops the pandemic has made the historically volatile industry more unstable and unpredictable. This uncertainty is further augmented by the lack of an historical instance for such incidents in the oil and gas sector. The oil industry is being affected by various frontiers, which include the massive downfall in demand caused by the Covid-19 pandemic and the price war amongst leading global producers that has caused a record plunge in prices.

Report Highlights:

Detailed overview of the market
Evolving polypropylene market dynamics
In-depth polypropylene market classification
Historical, present, and anticipated polypropylene market size and share in terms of volume and value
Recent polypropylene market trends and advances
Competitive landscape
Strategies adopted by key players and products portfolio
Segments, sub-segments, and geographic regions exhibiting growth prospects
A neutral and global perspective on polypropylene market performance

Polypropylene Market: Segmentation

For the purpose of this report, Reports and Data has segmented into the global polypropylene market on the basis of type, application, end use industry, and region:

Extraction Type Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)

Homopolymer
Copolymer

Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)

Moulding
Injection Moulding
Blow Moulding
Fiber & Raffia
Films & Sheets
Bags & Sacks
Containers
Others

End Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)

Packaging
Flexible Packaging
Rigid Packaging
3D Printing
Automotive & Transportation
Building & Construction
Electrical & Electronics
Healthcare
Others

Regional Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)

North America
U.S
Canada
Mexico
Europe
Germany
U.K
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Taiwan
Rest of APAC
MEA
Saudi Arabia
United Arab Emirates
South Africa
Rest of MEA
Latin America
Brazil
Rest of LATAM

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/polypropylene-market

Browse Related Reports –

Silicone Elastomers Market Size, Share & Global Industry Demand, Outlook By Type, By Technology, By Product , By Application, End User and Regional Forecast, 2020-2027

High-Temperature Composite Resin Market Size, Share & Global Industry Demand, and Regional Forecast, 2020-2027

Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.

Contact Us:

John Watson

Head of Business Development

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com