The global polypropylene market size reached USD 136.04 billion in 2022 and is projected to hit around USD 226.92 billion by 2032, growing at a CAGR of 5.3% from 2023 to 2032.
Key Takeaway:
- By polymer type, the homopolymer segment was the highest revenue holder in 2022 which was 81%.
- By process, the injection molding segment accounted for 49% revenue share in 2022.
- By end-use, the automotive segment has held a revenue share of over 28.6% in 2022.
- By applications, the film and sheet segment accounted for a revenue share of over 37% in 2022.
Polypropylene is basically a thermoplastic material that is prominently used for manufacturing fibers and molded materials. It provides excellent chemical and mechanical resistance coupled with translucent features. Excellent stiffness, lightweight, and flexibility properties offered by the product are the major trends and are significantly promoting the market growth over the upcoming years. In addition to these factors, they are notably used in various end-use industries such as automotive, agriculture, packaging, construction, electrical & electronics, and many others.
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Growth Factors
Increasing demand of polypropylene from various end-use sectors such as automotive, packaging, healthcare, building & construction, and electrical & electronics attributed as the primary factors that drives the growth of the product. Features of polypropylene such as low-cost and excellent mechanical strength along with moldability are the major factors due to which more than half of the plastics used in the automotive sector are polypropylene. Polypropylene is used in various parts of an automobile, such as instrumental panels, bumpers, and door trims.
Furthermore, the properties of polypropylene that include lightweight, low density, durability, high heat resistance, and high clarity make it a suitable for packaging applications. Polypropylene is also used significantly in the electrical & electronics and building & construction for the insulation of building wrap as well as electronics goods.
However, rising environmental concern and government regulations for banning the use of plastic products expected to hamper the market growth in the upcoming years. Furthermore, there are number of substitutes available for the polypropylene such as polyethylene terephthalate (PET), polyethylene (PE), polyvinyl chloride (PVC), and many other that again restricts the market growth in the coming years.
Polypropylene Market Scope
| Report Highlights | Details |
| Market Size in 2023 | USD 142.57 Billion |
| Market Size by 2032 | USD 226.92 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5.3% |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Product, Application, Region |
Report Highlights
- The Asia Pacific emerged as the market leader and accounted for a revenue share of approximately 50% in the year 2019 due to growing demand for polypropylene from packaging and automotive sectors
- North America accounted for a value share of 16% in 2019 owing to its rising application for packaging in the food & beverage industry
- By type, homopolymer dominated the global polypropylene market and accounted for around 83% revenue share in the year 2019
- Increasing demand for copolymer polypropylene in medical sector because of its toughness at low temperature along with higher stress crack resistance expected to drive its demand
- Based on process, injection molding dominated the global market with a revenue share of around 37% in 2019
- Film & sheet accounted for the highest revenue share of nearly 36% in the global market in 2019 owing to its rising demand in boxes, binders, packaging materials, and portfolios
- Fiber estimated to be the second largest application segment accounting for a value share of around 30% in 2019 because of rising demand from automotive industry
Regional Snapshots
The Asia Pacific captured major share in the market revenue accounting for nearly half of the market value in 2019 and further expected to growth prominently throughout the forecast timeframe. The remarkable growth of the region is mainly attributed to the increasing demand of polypropylene from packaging, automotive, medical, and building & construction sectors. The region is a growing market place for all the aforementioned industries owing to large consumer base and high growth in the disposable income of consumers that in turn attributed as a prime factor for the market growth for polypropylene in the region. In addition to this, supportive government policies for light weight electronics and automotive parts in order to control the rising environmental pollution again boost the demand for the product over the upcoming period.
Moreover, North America and Europe are the prominent regions that hold nearly 30-35%market value collectively in the year 2019. Growing packaging and automotive industry in the regions are the main factors supporting the rapid growth of the market in the regions. Rising trend for packaged foods and drinks because of hectic lifestyle again triggers the growth of the polypropylene packaging solutions in these regions.
Read Also: Polypropylene Market Size to Rake USD 226.92 Bn by 2032
Key Players & Strategies
The global industry for polypropylene witnesses intense competition among the market players owing to the presence of large number of small and medium sized players. Furthermore, these industry participants are significantly involved in the forward integration of value chain process that results in the continuous supply of raw materials as well as this reduces the overall manufacturing cost. In addition to forward integration, the market players also invest prominently in the research & development (R&D) sector to excel their product specification coupled with the market reach.
Some of the prominent players in the polypropylene market include:
- Lyondellbasell Industries Holdings B.V.
- Exxon Mobil Corporation
- SABIC
- China Petrochemical Corporation
- Eastman Chemical Company
- BASF SE
- LG Chem
- Trinseo S.A.
- Total S.A
- Westlake Chemical Corporation
Segments Covered in the Report
This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2020 to 2032. This report contains market breakdown and its revenue estimation by classifying it on the basis of process, type, application, end-use, and region:
By Process
- Blow Molding
- Extrusion
- Injection Molding
- Others
By Type
- Copolymer
- Homopolymer
By Application
- Film & Sheet
- Raffia
- Fiber
- Others
By End-use
- Building & Construction
- Electrical & Electronics
- Automotive
- Medical
- Packaging
- Others
By Regional
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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