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Polypropylene Market worth 99.17 Billion USD by 2022

 



(Medical-NewsWire.com, November 15, 2022 ) The global Polypropylene Market size is projected to reach USD 99.17 billion by 2022, at a CAGR of 5.6% between 2017 and 2022. Polypropylene is a thermoplastic obtained by polymerizing propylene, a gaseous by-product of oil refining. Rising use of polypropylenes in applications, such as injection molding, fiber and raffia, film and sheet, and blow molding is leading to the high growth of the market. Growing trends of using polypropylene in the automotive sector to reduce the weight of the vehicle for increased fuel efficiency; and growing demand from the Asia Pacific are expected to be the major drivers of the global Polypropylene Market during the forecast period. Competition and the availability of other substitutes for polypropylene, such as PE, PVC, and PS, and growing environmental concerns are factors restraining the growth of the polypropylene market.

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Homopolymer is the fastest-growing type in the overall polypropylene market, as it provides a high strength to weight ratio and is stiffer than the copolymer. Excellent chemical resistance and weldability enable the use of the polypropylene homopolymer for many corrosion resistant structures. The common applications of the polypropylene homopolymer are orthotic and prosthetic devices, secondary containments, pump components, and storage tanks.

Blow molding is the fastest-growing application of the overall polypropylene market. This process requires melted plastic to be inserted into a hollow container design, after which air is blown into the design to inflate the plastic into the shape of the hollow design. Polypropylene is majorly used in blow molding applications due to its ability to withstand elevated temperatures. It can be easily stream sterilized and has a high melting point.

Medical is the fastest-growing end-use industry for the overall polypropylene market. Polypropylene has a good mixture of heat resistance and structural properties of polycarbonate, impact resistance of polyester, radiation resistance of polystyrene or Polyethylene (PE), and the flexibility or soft feel of flexible polyvinyl chloride. It also has excellent chemical resistance.    

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Browse In-Depth TOC On "Polypropylene Market”

119 - Market Data Tables

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Asia Pacific is the fastest-growing market for polypropylene, followed by the Middle East & Africa. The high demand in the Asia Pacific can be attributed to rising innovations and technological advancements in end-use industries, such as packaging, automotive, building & construction, electrical & electronics, and medical. The polypropylene market in the Asia Pacific is driven by increased government support for the manufacture of automobiles in the region.

The key companies profiled in the polypropylene market research report are LyondellBasell (The Netherlands), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), DuPont (US), INEOS (Switzerland), Total S.A. (France), Formosa Plastics Group (Taiwan), China Petrochemical Corporation (China), LG Chem (South Korea), and Sumitomo Chemicals (Japan).

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Source: EmailWire.Com

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