Polypropylene Market worth 99.17 Billion USD by 2022, at a CAGR of 5.6%
The polypropylene market is estimated at USD 75.40 Billion in 2017 and is projected to reach USD 99.17 Billion by 2022, at a CAGR of 5.6% between 2017 and 2022. Properties of polypropylene, such as low density, light weight, high heat resistance, durability, and high clarity make it a suitable material for packaging. Polypropylene is also used in building & construction and electricals & electronics to insulate building wraps and electronics goods.
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Homopolymer type estimated to be the largest type of polypropylene
Homopolymer provides a high strength to weight ratio and is stiffer than copolymer. The 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 projected to be the fastest-growing application of polypropylene
Consumption of polypropylene in the blow molding application is growing due to the rising demand for packaged food and beverages in emerging countries. Polypropylene is majorly used in the blow molding application due to its ability to withstand elevated temperatures, and it can be easily stream sterilized and has a high melting point. The common applications include water bottles, shampoo bottles, and lubricant/pesticide containers.
Medical is projected to be the fastest-growing end-use industry of the 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 flexibility or soft feel of flexible polyvinyl chloride. It is highly resistant to cleaning agents, disinfectants, and various solvents which makes it suitable for surgical trays, caddies, and other medical devices. The largest application of polypropylene in medical devices is syringes.
Asia Pacific is projected to account for the largest share in the global polypropylene market
Asia Pacific is projected to be the largest market for polypropylene globally, and China is projected to be the largest market for polypropylene in the Asia Pacific during the forecast period. Japan, South Korea, and India are other major countries contributing to the growth of the polypropylene market in the region. Polypropylene is a low cost material with excellent mechanical properties and moldability. Due to this, there is an increase in the use of polypropylene in applications, such as injection molding, fiber & raffia, film & sheet, and blow molding, which is expected to drive the polypropylene market in these countries during the forecast period.
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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