Rising demand of polypropylene in the food and beverage packaging industry is likely to provide competitive advantage to the global polypropylene market
Increased consumption of polypropylene in the automotive industry, increasing urbanization along with growing disposable earnings and evolving lifestyles are key factors driving market growth. Nevertheless, the market is hindered by factors such as growing environmental concerns and the availability of other substitutes which provide harsh competition. Polypropylene is a versatile substance that is used in a wide number of industries, including toys, paper, carpeting, automobiles and laboratory equipment manufacturing.
At high temperatures it has excellent electrical and chemical resistance as it is a transparent substance which is sometimes rigid without stress cracking problems. It is simple to customize and can be painted in many ways without damaging the plastic's original quality. It is also an excellent alternative to other plastic forms because the bisphenol is not present. BPA is not a safe packaging choice because it is an endocrine disruptor that leads to different health problems and issues of brain development in young children.
At present, there are many licensed technology to manufacture PP. The most widely used is UNIPOL PP Technology licensed by W.R Grace & Co. Another one is licensed technology by LyondellBasell. In the forecast period, propylene market is expected to rise gradually because of their significance in the consumer disposable and packaging industries. However, the use of polypropylene resins for foam applications due to the low melt resistance inherent in PP resins is among the challenges faced by the polypropylene resins industry.
The use of PP resins in the thermoplastic foam industry was limited by these drawbacks. Work is being pursued to boost PP resins ' melting ability. The biggest challenge on the PP resins market is the polluting factor in PP resins made plastics for disposable materials. The large amount of toxicity of the discarded products is caused by its heavy use in the packaging of various consumer goods such as foodstuffs in the atmosphere and is physically dangerous for birds, marines and animals.
In terms of type, the market is segmented in Homopolymer, copolymer, and others. Copolymer PP accounted for a major market revenue share of about 50% and is projected to show similar dominance over the forecast period. This segment is projected to grow at a CAGR of more than 4%.
In terms of end-user, the global market is segmented into Packaging, Automotive, Building & Construction, Medical, Electrical & Electronics, Others. Packaging is one of the leading segment and is expected to maintain its position over the forecast period. Automotive and building & construction is another lucrative segment for the growth of PP industry across the globe.
Key players operating in this industry include BASF, Borealis, Braskem, Chevron Phillips Chemical Company, DuPont, Reliance Industries Limited, ExxonMobil, Sinopec, SABIC, INEOS, Total SA. Major players are engaged in expansion and increased investment in R&D. However, volatility in the prices is still the major concern for the global players.
Segment overview of polypropylene market
Key segments across polypropylene market
- Type Overview, 2018-2025, (USD Million)
- End-users Overview, 2018-2025, (USD Million)
- Building & Construction
- Electrical & Electronics
- Regional Overview, 2018-2025, (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central & South America
- Middle East & Africa
- North America