Polypropylene Market To Reach USD 112.3 Billion By 2025 | CAGR 6.1% - Forencis Research

Polypropylene Market Size, Share, Trends, Growth, Analysis, Research

Global Polypropylene Market: Key Highlights

  • According to the new market research report “Polypropylene Market by Grade (Photopolymer, Random Copolymer) by Application (Injection Molding, Blow Molding) by End User Industry (Automotive, Packaging, Electrical & Electronics) by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast from 2020 To 2025”, the global Polypropylene market is estimated to reach USD 112.3 Billion by 2025 at a CAGR of 6.1% during forecast period 2020-2025.
  • Soaring demand from the packaging sector owing higher adoption of sustainable and innovative packaging solution is projected to escalate the market growth during the forecast period.
  • Emergence of substitute materials, which can replace the polypropylene use is anticipated to hinder the growth of this market in the following timespan. 

Polypropylene Market

Global Polypropylene Market: Key Market Dynamics

  • The growing demand from the packaging sector owing to increasing adoption of plastics especially polypropylene is driving the growth of the polypropylene market.
  • Higher investment by the key players such as Exxonmobil, for increasing production of the polypropylene, to settle the soaring demand of propylene from end users is anticipated to push the market growth higher.
  • The growth of the market is mainly hampered owing to emergence of the substitutes such as Acetal (POM), Polyhydroxy butyrate (PHB).
  • Higher adoption of the bio based polypropylene owing to environmental friendly polymer is anticipated to create new gateways for the market growth.

Global Polypropylene Market: Regional Overview

  • Asia-Pacific

The Asia Pacific polypropylene market is booming on the grounds of the increasing investment in the expanding the production capabilities. Presence of key contributing region such as China, to boost domestic supply of the polypropylene is again fueling the market growth in the Asia Pacific. Emergence of the prominent manufacturing regions such as China, India among others is expected to drive the market growth in the forecast period. This is further dragged by the increasing import of the propylene and related derivatives in China, to boost the production of polypropylene.  

  • North America

The polypropylene market in North America is experiencing steady growth owing to increased cost competitiveness in the North American players providing polypropylene. Increasing project dedicated to polypropylene production in the region owing to rise in the profit margins is further contributing immensely towards the growth of this market. Increasing investment in the shale gas production in the region is another factor boosting the market growth.

Global Polypropylene Market: Key Players Overview

  • BASF SE:

Germany-based BASF SE, which operates globally through offering range of specialty materials. The company offers polypropylene and additives for the polypropylene, which is suitable in automotive, electrical, healthcare and other sector to carry out specific application. In 2019, BASF announced that it has signed a Memorandum of Understanding with Abu Dhabi National Oil Company, Adani Group and Borealis AG for establishment Propane dehydrogenation for raw material supply to be used for polypropylene production.

  • Exxon Mobil Corporation:

Exxon Mobil Corporation is the US based company operating across the globe. The company offers polypropylene Achieve Advanced PP, and ExxonMobil PP product range, which is used in varied industrial sector. In 2019, the company plans to invest in the construction of the new production facilities in order to boost the production capacity up to 450,000 tons annually.

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Rep Id : CM 035

Published : 2020-01-27

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