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Polypropylene Market worth 99.17 Billion USD by 2022

 



(EstateNewsWire.com, November 15, 2022 ) The global Polypropylene Market size is projected to reach USD 99.17 billion by 2022, at a CAGR of 5.6% between 2017 and 2022. Polypropylene is a thermoplastic obtained by polymerizing propylene, a gaseous by-product of oil refining. Rising use of polypropylenes in applications, such as injection molding, fiber and raffia, film and sheet, and blow molding is leading to the high growth of the market. Growing trends of using polypropylene in the automotive sector to reduce the weight of the vehicle for increased fuel efficiency; and growing demand from the Asia Pacific are expected to be the major drivers of the global Polypropylene Market during the forecast period. Competition and the availability of other substitutes for polypropylene, such as PE, PVC, and PS, and growing environmental concerns are factors restraining the growth of the polypropylene market.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=64103589

Homopolymer is the fastest-growing type in the overall polypropylene market, as it provides a high strength to weight ratio and is stiffer than the copolymer. Excellent chemical resistance and weldability enable the use of the polypropylene homopolymer for many corrosion resistant structures. The common applications of the polypropylene homopolymer are orthotic and prosthetic devices, secondary containments, pump components, and storage tanks.

Blow molding is the fastest-growing application of the overall polypropylene market. This process requires melted plastic to be inserted into a hollow container design, after which air is blown into the design to inflate the plastic into the shape of the hollow design. Polypropylene is majorly used in blow molding applications due to its ability to withstand elevated temperatures. It can be easily stream sterilized and has a high melting point.

Medical is the fastest-growing end-use industry for the overall polypropylene market. Polypropylene has a good mixture of heat resistance and structural properties of polycarbonate, impact resistance of polyester, radiation resistance of polystyrene or Polyethylene (PE), and the flexibility or soft feel of flexible polyvinyl chloride. It also has excellent chemical resistance.    

Don't miss out on business opportunities in Polypropylene Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=64103589   

Browse In-Depth TOC On "Polypropylene Market”

119 - Market Data Tables

50 - Figures 154 Pages And

Asia Pacific is the fastest-growing market for polypropylene, followed by the Middle East & Africa. The high demand in the Asia Pacific can be attributed to rising innovations and technological advancements in end-use industries, such as packaging, automotive, building & construction, electrical & electronics, and medical. The polypropylene market in the Asia Pacific is driven by increased government support for the manufacture of automobiles in the region.

The key companies profiled in the polypropylene market research report are LyondellBasell (The Netherlands), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), DuPont (US), INEOS (Switzerland), Total S.A. (France), Formosa Plastics Group (Taiwan), China Petrochemical Corporation (China), LG Chem (South Korea), and Sumitomo Chemicals (Japan).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra

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raviraj.tak@marketsandmarkets.com

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