About Polypropylene (PP)
Polypropylene is also called polypropene. It is a rigid, tough, and crystalline thermoplastic; it is transparent; and it is insulating and conductive. Polypropene produces plastic with low and high heat resistance. It is widely used in a range of domestic and industrial applications. They have waterproof properties; they are used for making syringes, pill containers, disposable cups plates etc. Ongoing developments in manufacturing technologies enhance the efficiency and cost-effectiveness of producing polypropylene, making it more accessible and attractive for a range of applications, and this is the key factor driving the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Continuous innovation and advancements in polypropylene manufacturing technologies provide a competitive edge. Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
MOL GROUP (Hungary), SABIC (Saudi Arabia), Ducor Petrochemicals (Netherland), Ensinger (Germany), Formosa Plastics Corporation, U.S.A (United States), Braskem (Brazil), Reliance Industries Limited. (India), INEOS (United Kingdom), Exxon Mobil Corporation (United States), China Petrochemical Corporation (China), BASF SE (Germany), Dupont (United States), Sumitomo Chemical Co., Ltd. (Japan), LG Chem. (South Korea), Prime Polymer Co., Ltd. (Japan), Borealis AG (Austria), Haldia Petrochemicals Limited (India), China National Petroleum Corporation (China) and Axion Ltd. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Polypropylene (PP) market by and Region.
On the basis of geography, the market of Polypropylene (PP) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Polypropylene (PP) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Lightweighting trends in the automotive sector continue to drive the demand for polypropylene
Market Growth Drivers:
Increasing growth of packaging and textile industry and Continuous innovation in the development of polypropylene grades with improved characteristics, such as strength, sustainability.
Challenges:
Volatility of cost and lack of availability of raw materials and Periods of overcapacity in the polypropylene market can lead to intensified competition, pricing pressures, and challenges for manufacturers to maintain profitability.
Restraints:
Environmental concern such as pollution and climate change.
Opportunities:
Improving recycling rates and infrastructure is essential for the sustainable use of polypropylene. and Developing bio-based polypropylene and incorporating sustainable practices
Market Leaders and their expansionary development strategies
In July 2023, Austria-based advanced polyolefin solutions provider Borealis acquired Italian recycled polypropylene (PP) compounds producer Rialti. The acquisition will further help the company in strengthening its existing circular economy portfolio and the growing demands of its customers for sustainable solutions. and In September 2023, SABIC, a global leader in the chemical industry, announced partnership with three specialists in the field of in-Mold labelling (IML) to demonstrate the use of certified renewable polypropylene (PP) resins in high quality mono-PP thin-wall container packaging without compromising its quality, processability and safety. With this collaborative initiative, demonstrating the feasibility of bio-based polypropylene materials in the production of high-quality IML labels.
In July 2023, SABIC, a global diversified chemicals company, has launched SABIC PP compound H1090 resin and STAMAX 30YH611 resin, two materials well-suited for sheet extrusion and thermoforming that offer a unique alternative to traditional sheet metal forming, compression and injection molding, allowing customers to form large, complex structural parts., and In November 2023, INTEGRA Biosciences has extended its reagent reservoir portfolio to launched 10 and 25 ml sterile polypropylene reservoirs with SureFlo anti-sealing technology. The latest additions to the range are manufactured from a highly chemically resistant material offering a broad reagent compatibility and reduced surface adsorption of proteins, making them ideal for sensitive molecular assays.
Key Target Audience
Supplier, Manufacturer, Research organization, Government Regulatory, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.