Jun 10,2021/IndustryNewsGlobal/ The unexpected shifts in the globalmarkets because of the sudden outbreak of the COVID-19 virus have brought manymajor and minor tremors to industries of all sizes including the PolypropyleneMarket.
It was estimated prior to this unanticipatedoutbreak that the Polypropylene Market was expected to grow at a CAGR of 5.7% during the forecastperiod. However, the gradual slowing down of industries will undoubtedly imposelimits on the previously estimated growth rate.
Polypropylene is a thermoplasticpolymer which is produced by combining propylene monomer with catalysts. Asthermoplastic polymers are recyclable, their applications are growing in a wide array of industries such as packaging, automotive, building & construction, electrical & electronics, medical, and others. They are of basically two types i.e. homopolymer and copolymer.
This report studies the marketcovering a period of 12 years of trend and forecast. The report providesdetailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the type, the market issegmented as homopolymer and copolymer. The homopolymer type dominated the market in 2020, and is expected tomaintain its position during the forecast period. Homopolymerpolythene is widely used in a large number of industries such as packaging,automotive, building & construction, and electrical & electronics owing to its better mechanical properties.
Based on the application type,the polypropylene market is segmented as injection molding, fiber & raffia,film & sheet, and blow molding. Fiber & raffia is expected to remain the largest application ofthe market owing to its widespread usage in carpets, carpet backing, and tapes. Injection molding is expected to remain the second-largest segment owing to the growing demand for molded products in increasing number of end-use industries.
Based on the end-use industrytype, the polypropylene market is segmented as packaging, automotive, building& construction, electrical & electronics, medical, and others. Packaging industry is expected to maintainits dominant position in the market during the forecast period.Polypropylene is used in packaging of food and consumer products.
In terms of regions, Asia-Pacific is estimated to be the largestmarket for polypropylene during the forecast period. China, Japan,South Korea, Taiwan, and India are the largest consumers of polypropylene inthe region. Significant economic development in the region is paving the path for electrical & electronic, packaging, building & construction, and automotive industries. Further, huge consumer base and significant economic development in the region are likely to boost the demand for polypropylene in the region. North America and Europe are also expected to witness a healthy demand for polypropylene material owing to the revival of the construction industry from the global economic slowdown.
Key Players:
- Some of the key players inthe Polypropylene Market are-
LyondellBasell Industries Holdings B.V.
- Exxon Mobil Corporation
- SABIC
- DuPont
- INEOS
- Formosa Plastics Corporation
- China Petrochemical Corporation and LG Chem
- Eastman Chemical Company
- BASF SE
- Reliance Industries Limited
- Westlake Chemical Corporation
- Braskem
- Haldia Petrochemicals Limited
- Lotte Chemical UK LTD.
- Trinseo
- HPCL- Mittal Energy Limited
- Brahmaputra Cracker And Polymer Limited
- SACO AEI Polymers.
- Features of the Report
This report offers high-qualityinsights and is the outcome of detailed research methodology comprisingextensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Polypropylene Market analysis report discusses the following headsin great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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