Polypropylene Market Share, Trends, Growth, Sales, Demand, Revenue, Size, Forecast and COVID-19 Imp

Polypropylene (PP) is a thermoplastic resin used in the manufacture of various materials and fibers. Its flexibility and stiffness are attractive to manufacturers in industries of packaging, automotive, construction, agriculture, and others. The global polypropylene market report by Market Research Future (MRFR) takes a deep dive into the industry and gleans pertinent trends and insights necessary for leaders to sustain for the period of forecast period. The sudden outbreak of the COVID-19 virus and its implications on the industry has been included as a part of the report.

Market Scope

The global polypropylene market is expected to experience a huge windfall over the forecast period owing to the call for lightweight products from end-use industries. This is exemplified by the use of raffia and fiber in the automotive sector. Properties of PP such as low moisture resistance, staining resistance, high tensile strength, and chemical resistance are attractive to many end-use industry manufacturers.

The packaging industry is one of the biggest proponents of PP owing to its ability to protect the content and its light weight ensuring its speedy delivery. This is witnessed in the food and beverage industry which requires packaging that minimizes food spoilage. The large number of consumers spending on processed and packaged foods owing to their lifestyle can bode well for the global polypropylene market over the forecast period.

The lockdown enforced by various nations globally owing to the propagation of the COVID-19 virus can negatively impact the demand of propylene. But the need for medical gowns and other protective equipment can revive its demand during the forecast period.

However, concerns over its contribution to plastic waste can hamper the market. But efforts and campaigns by governments for recycling of polypropylene can lead to its sustainability and lead to a surge in demand.

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Segmentation

The global polypropylene is segmented into application.

The market is further classified into agricultural, manufacturing, building, processing, electrical & electronics on the basis of use.

The automotive industry has a wide market share among these, owing to the rising use of plastic materials to build high-performance and durable vehicles. Agricultural sector investors encourage farmers to use lightweight goods to increase the quality and production of food in the agricultural sector.

In addition, due to the advantages of the commodity, such as longevity, less storage capacity and the capacity to survive under severe conditions, the packaging segment is expected to witness steady growth in the industry.

Owing to the unrestricted use of plastics in mobile phones, smartphones, servers and others, the electrical & electronics segment is projected to grow at a greater CAGR. Furthermore, in the automotive and electrical & electronics markets, the increasing substitution of lightweight materials for heavy metals is expected to drive the market.

Regional Analysis

The demand for polypropylene is split into five regions worldwide, namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

In these, due to increasing demand for polymers in various industries, Asia Pacific has a large market share. Analysis in developing countries such as India has contributed to the use of indigenous low-cost propylene swabs for the analysis of COVID-19 patients. In the first quarter of this year, with the onset of the pandemic in China, the demand for face masks in the region witnessed a spurt.

As the demand for thermoplastic materials in the building and homes, medical and automotive industries grows, the North American industry is increasing dramatically. Strong disposable income and high expenditure in major industries is expected to force the automotive segment to lead the industry in the forecast period. Growing demand in the pharmaceutical, healthcare and automotive industries for polypropylene glycol and propylene glycol has driven countries such as the U.S., Canada, and Mexico to achieve phenomenal market growth.

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Due to the increasing use of lightweight materials in end-use industries, there has been a phenomenal growth in demand for the European industry. With the new pandemic, which is projected to trigger production, production and demand instability for the European economy, the oil markets remain in disarray. The United Kingdom's largest demand for polypropylene is attributable to the introduction of different grades of resin that offer better guidance.

The growing use of thermoplastic materials in the pharmaceutical, building & housing and energy industries is expected to lead to a recognised increase in the Latin American area in the sector. Moreover, due to increased demand for polypropylene polymers in the oil & gas, petrochemical, transport and aviation industries, the Middle East & Africa is expected to see faster market growth.

Key Players

Some of the prominent players operating in the global polypropylene market are The Dow Chemical Company (U.S.), LyondellBasell (U.S.), Exxon Mobil Corporation (U.S.), SABIC ( Saudi Arabia), INEOS (Switzerland.), LANXESS (Germany), Chevron Phillips Chemical Company (U.S.), Eni S.p.A. ( Italy), BASF SE ( Germany), and LG Chem ( South Korea) among others.

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