Global Polypropylene Market Is Projected To Succeed In USD 201 Billion By 2031

هن پوليپلوپيني market is forecast to reach 201 بلين ڊالر in 2031. There will be a CAGR rate of 10% for the forecast period (2022-2031).

وڌندڙ طلب

The Asia Pacific was dominant in the market, accounting for 47% of global revenue by 2020. The region is expected to see a growing demand for polypropylene in the automotive and packaging industries, especially in India, China, and Japan. The region is expected to be boosted by the presence of market leaders, such as Sumitomo Chemical (Sumitomo Chemical), China Petrochemical Corporation, LG Chem, and Sumitomo Chemical.

North America held a higher revenue share than Canada in 2020. One of the main factors driving the market is the increased use of the packaging within the food and beverages industry in countries like Mexico, Canada, and the U.S. A rising number of R&D facilities and increasing consumer demand are also driving the market in the region.

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ڊرائيونگ فيڪٽر

Rising demand for polypropylene from various end-use industries to fuel growth

Due to growing demand in the packaging sector, the pp market continues to grow. This is due to the increasing consumption of packaged food & beverages. PP’s moisture barrier properties increase its ability to provide appropriate packaging solutions in the food & drinks industry. It can also help to reduce food deterioration or quality loss. The material is used for automobile interior and exterior parts. It allows for easy processing, efficient sealing, and stiffness.

Polypropene has many uses, including toys, fashion apparel, and sports equipment. Due to these characteristics, the market will see a lot of growth in the agricultural segment over the next few years. The rising demand for agricultural tools like microtubes, drippers, and nozzles is expected to drive growth.

PP is a rigid material that is more commonly used in industry, primarily for packaging electrical spares or parts. Clear visibility of products improves transparency and appearance. The PP’s many efficient and diversifying properties are expected to increase its demand in different end-use industries.

Restraining factors

Fluctuating Crude Oil Prices and Availability for Substitutes to Hinder Polypropylene Growth

The process of making polypropylene from petroleum crude oil is called polymerizing propylene. Because of volatile political circumstances in the Middle East and other oil-producing countries, supply and price have fluctuated. Inconsistencies with the pricing of crude oils can impact the final product’s price structure and negatively affect market growth. Alternatives like polyethylene terephthalate and polyethylene terephthalate have properties similar to PP and could hinder PP’s market growth.

مارڪيٽ جي اهم رجحانات

An Increasing Demand for Injection Molding dominates the Application Segment

• This is the main application of polypropylene, which is available as pellets. Because of its low melt viscosity, polypropylene flows easily and is easy to mold.
• Injection molding technology allows the production of plastics used extensively in electrical or electronic applications. These plastics are commonly used to fabricate electronic devices and electrical appliances.
• The injection molding of polypropylene plastic is used to produce electronic devices such as meters, sensors, and industrial test equipment. The total global production of the electronics and IT industry was expected to grow 11% in 2021 to reach USD 3360.2 billion. Injection-molded polypropylene plastics are expected to grow because of this increase in electronic production.
• Injection molding technology is also used to produce high-precision engineering components and many disposable consumer products. This technology is used in household appliances, consumer electronics (such as valves or syringes), medical devices (such as valves and syringes), and automotive dashboards. Open containers and fittings. toothbrushes. and many other products.
• Injection molding can benefit from the favorable market environment created by the worldwide growth of the chemical processing and packaging industries. Because of the proximity to Asia-Pacific’s rapidly growing region, injection-molded pallets might see significant growth.

تازو ترقي

• LyondellBasell, a polypropylene compounding company in China, opened a 20-kiloton per year plant in Dalian. With this expansion, the company sought to satisfy the growing demand for domestic automotive parts.
• SABIC, a global company that specializes in polypropylene, opened a new pilot plant in Geleen. This was part of its global expansion. This expansion will allow the company to address the growing demand for polypropylene.
• In June 2017, INEOS unveiled plans to build a PDH (propane-dehydrogenation) unit in Europe. The plant can produce 750,000 tonnes of propylene annually for INEOS. This expansion allows the company to self-sufficiency with all essential olefin products. It also supports the growth and development of its polymer businesses.
• Total restructured the Carling-Saint- Avlod petrochemical facility in eastern France. This expansion began the production of compound polypropylene (and hydrocarbon resin).
• Sumitomo Chemicals, India’s largest polypropylene producer, opened its Tamil Nadu plant in September 2016. The expansion enabled the company to fulfill the growing demand in India for polypropylene used in the automotive industry.

اهم ڪمپنيون

• ليڊيڊور بيلاس
• SABIC
• برڪيم
• ڪل
• ExxonMobil
• جي پي پي
• Prime Polymer
• ريلوي انڊسٽري
• فارموسا پلاسٽڪ
• سنپپوڪ
• سي اين پي سي
• شينهن

 

 

 

اهم مارڪيٽ جا حصا:

قسم

• Isotactic Polypropylene
• Atactic Polypropylene
• Syndiotactic Polypropylene

درخواست

• Woven Products
• Injection Products
• فلم
• مڱريو
• Extruded Products

وچان وچان سوال ڪرڻ

• How big is Polypropylene’s (PP) market?
• What is the Polypropylene(PP) market growth?
• Which segment was responsible for the largest Polypropylene market share (PP)?
• Who are the top players in Polypropylene’s (PP) market?
• What are the driving factors for the Polypropylene Market (PPM)?

لاڳاپيل رپورٽ:

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