Polypropylene (PP) is a thermoplastic polymer, which is also referred to as polypropene. PP can be easily formed using catalytic polymerization for propylene. Polypropylene is widely used in various end use industries, especially due to its high chemical and electrical resistance. Certain characteristics of polypropylene include semi rigidness, and translucency. Also, polypropylene is used in manufacturing of laboratory equipment, owing to its versatile nature and flexibility offered at high temperatures.
Increasing adoption of polypropylene in various end-use industries especially in automobile, food packaging, and construction is a major factor driving growth of the global polypropylene market. Also, rising demand for plastics that contain minimal or no amount of Bisphenol A (BPA) – an endocrine disruptor which caused various health problems – is another factor anticipated to fuel growth of the global polypropylene market over the forecast period.
Constantly fluctuating raw material prices is a major factor restraining growth of the global polypropylene market. In addition, environmental regulations limiting use and disposal of plastics is another factor projected to hamper growth of the global polypropylene market to a significant extent over the forecast period.
Developments in cost effective bio-based polypropylene is anticipated to create opportunities for prominent players in the market.
The global polypropylene market report has been segmented on the basis of end-use industry, and region. On the basis of end-use industry, the global polypropylene market is segmented into packaging, Automotive, Building & Construction, Electrical & Electronics, and Medical. On the basis of region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in Asia Pacific accounted for highest share in terms of revenue in the global polypropylene market, owing to increasing adoption of polypropylene in construction industry in emerging economies such as China and Japan. Also, the market in Asia Pacific is expected to witness significant growth and register highest CAGR over the next ten years. The market in Europe is also projected to witness significant growth over the forecast period.
Prominent players in the global polypropylene market include LyondellBasell, SABIC, Exxon Mobil Corporation, DuPont, INEOS, Total S.A., Formosa Plastics Group, China Petrochemical Corporation, LG Chem, and Sumitomo Chemicals.