Polypropylene (PP) is a thermoplastic hydrocarbon polymer which is also known as polypropene and has highest molecular weight. Polypropylene (PP) offers exceptional chemical and electrical resistance at high temperatures and it can be characterized as a semi-rigid and translucent material that is used in various end-use industries like manufacture of laboratory equipment, construction, automobile, geotextiles, medical, packaging, carpeting, electrical and electronics industries. Opportunities are emerging in the use of eco-friendly materials, as such, demand for bio-based polypropylene is on the rise. Volatile prices of polypropylene, largely dependent on crude oil are the restraining factors for global polypropylene market. Polypropylene has various properties like resistance to chemicals, low specific gravity, low moisture absorption rate, high stiffness and high-temperature and good process ability via injection moulding and extrusion.
Polypropylene Market: Key Players
The research study includes profiles of leading companies operating in the global polypropylene market. Key players profiled in the report include: LyondellBasell, SABIC, Exxon Mobil Corporation, DuPont, INEOS, Total S.A., Formosa Plastics Group, China Petrochemical Corporation, LG Chem, and Sumitomo Chemicals.
Drivers for the Global Polypropylene Market:
Rising demand for polypropylene from food packaging and automobile industries is the major factor that is boosting the growth of the polypropylene market. Along with this, expansion in building and construction industry is positively influencing the growth of Polypropylene market. In addition to this, increasing awareness regarding sustainability of natural resources and major companies are making huge investments on technological innovation is also driving the demand for Polypropylene.
Opportunities for the Global Polypropylene Market:
High demand for the plastics that do not contain Bisphenol A (BPA), Bisphenol is an endocrine disruptor that leads to various health problems such as diabetes, heart diseases, etc. is one of the major factor that is fuels the growth of Polypropylene market over the forecast period. Rise in the use of eco-friendly materials, like demand for bio-based polypropylene is on the rise that boost the growth of Polypropylene market in the forecast period.
Restrains for the Global Polypropylene Market:
Fluctuating prices of the raw material i.e. propylene required for formation of Polypropylene, is one of the major factor restraining growth of the polypropylene market. Along with this, availability of alternative for polypropylene is another factor that hampering the growth of the Polypropylene market. In addition to this, stringent environmental regulations on disposal of plastics is also the factor that hampers growth of the polypropylene market.
Region Wise, Global Polypropylene Market Analysis:
On the basis of region, the AIOps market is segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific holds the largest share in the market because of increasing disposable income and changing lifestyles, technological advancements and speedy development in the automotive and packaging industries. Europe is also having maximum share in the market due to rising demand for Polypropylene in pharmaceuticals, electronics, automotive, and food and beverages followed by North America.
Global Polypropylene Market: Product analysis
Global Polypropylene Market: Application analysis
- Building & Construction
Global Polypropylene Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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