Polypropylene Market size to hit USD 176 Bn by 2029 at a CAGR 5.81 percent – says Maximize Market Research

Polypropylene Market in Asia-Pacific is to grow rapidly during the forecast period. Global Polypropylene Market analysis has been done by dividing the market into three main segments: Type, Process, and End User. The Polypropylene Market size was estimated using a bottom-up approach for the research.

Dublin , Sept. 21, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research a leading Material & Chemical research firm has published a market intelligence report on the Global Polypropylene Market. As per the report, the total market opportunity by 2029 is expected to reach USD 176 Bn. The total market was valued at USD 118.53 Bn in 2022 and it is expected to grow at a CAGR of 5.81 percent during the forecast period.

Market Size in 2022USD 118.53 Bn.
Market Size in 2029USD 176 Bn.
CAGR5.81% (2023-2029)
Forecast Period2023-2029
Base Year2022
Number of Pages285
No. of Tables118
No. of Charts and Figures115
Segment CoveredType, Process, and End User.
Regional ScopeNorth America, Europe, Asia Pacific, Middle East and Africa, South America
Report CoverageMarket Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Polypropylene Market Report Scope and Research Methodology

The report provides an up-to-date analysis of the global Polypropylene Market scenario, including key players by financial position, price, product portfolio, growth strategy and regional status. The report covers market dynamics including ongoing trends, growth opportunities, and market drivers. The market is segmented on the basis of geographical region. The report provides a strategic analysis of the market analysis from leading players, share, challenges, key driver’s opportunities, competitive landscape, new product launches, technological innovations, and growth contributors. The recent development as well as the future market overview of the industry gives respect to its recent developments and provides analysis, including market size, and forecast, trends, growth drivers, and challenges of the Polypropylene Market. The report analysis provides the strategies that were adopted by the companies for the growth of the Polypropylene Market.

Polypropylene Market Overview

Polypropylene (PP) is a widely and commonly used thermoplastics polymer in the world and it is durable and versatile. The applications of polypropylene in many industries including packaging, automotive, textiles, and consumer goods, because it is lightweight in nature, chemical resistant, and has low cost. It provides resistance against chemicals and extreme temperatures and is extensively used in packaging, automobiles, building and construction, healthcare, and electronics. The polypropylene market continues to rise as it plays a vital role in modern manufacturing and product development.

Polypropylene Market Dynamics

The market for polypropylene is growing quickly as a result of the increasing demand from the packaging sector. The demand for polypropylene is increasing as the consumption of packaged foods and drinks is rising. Polypropylene is able to prevent the likelihood of food spoilage and quality loss it also offers efficient packing solutions for the food and beverage industry. It is a good material for packaging because it has qualities like high clarity, low density, lightweight, great heat resistance, and durability.

The healthcare and pharmaceutical industries have increased demand for polypropylene for surgical equipment and other medical products due to its non-corrosive nature and chemical resistance. Polypropylene is also used to make sports equipment, clothing, and other items. End-use sectors including packaging, automotive, building and construction, healthcare, and electrical and electronics are the key growth drivers for the polypropylene market.

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Polypropylene Market Regional Insights

Asia-Pacific region dominated the market in terms of market share and is expected to dominate during the forecast period. The market growth in this region is credited to the growing demand for products from the automotive and packaging sector along with the prevalence of various market players within the region.

North America holds the second-largest market share followed, and is likely to show lucrative growth over the forecast period. The demand for the market is increasing as the growing use of packaging in the food and beverage industry along with the consumer demand for lightweight automotive components and electronic products in this region is rising. The growing demand for convenient packaging, the growth of the e-commerce business, and the growing online food delivery market increase the market share of the Europe region.

Polypropylene Market Segmentation

By Type

  • Homopolymer
  • Copolymer

By Process

  • Injection Molding
  • Blow Molding
  • Extrusion
  • Other

The process segment for the Polypropylene Market is further segmented into Injection Molding, Blow Molding, Extrusion, and Others. Injection molding has dominated the market in 2022 because Polypropylene injection molding material is a thermoplastic. The polypropylene process has a wide range of applications including packaging of consumer products, and plastic components for such industries as the automotive industry. Plastic parts are produced by Injection molding machines for rigid walls such as plastic jars and plastic containers. There is minimal waste in injection molding as the scrap can be recycled again.

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By End User

  • Automotive
  • Building & Construction
  • Packaging
  • Medical
  • Electrical & Electronics
  • Others

The End user segment of the Polypropylene Market is segmented into Automotive, Building and construction, Packing, Medical, Electrical and electronics, and others. The packaging segment is expected to dominate the market during the forecast period as it has good barrier properties, high strength, good surface finish, and low cost making Polypropylene ideal for several packaging applications. The automotive segment held the second largest market share in 2022 due to its low cost, outstanding mechanical properties, and moldability, polypropylene is widely used in automotive parts.

Polypropylene Market Key Competitors include:

  • LyondellBasell Industries
  • Exxon Mobil Corporation
  • DuPont
  • Formosa Plastics Corporation
  • China Petrochemical Corporation
  • LG Chem
  • Eastman Chemical Company
  • Reliance Industries Limited
  • Westlake Chemical Corporation
  • Braskem
  • Haldia Petrochemicals Limited
  • Lotte Chemical UK LTD.
  • Trinseo
  • HPCL- Mittal Energy Limited
  • Brahmaputra Cracker And Polymer Limited
  • SACO AEI Polymers
  • Borealis AG
  • China National Petroleum Corporation (China)
  • Ducor Petrochemicals (Netherlands)
  • Total S.A. (France)
  • Repsol (Spain)
  • Borouge (UAE)
  • Beaulieu International Group (Belgium)
  • MOL Group (Hungary)
  • Other Key Players

Key questions answered in the Global Polypropylene Market are:

  • What is the expected CAGR of the Polypropylene Market during the forecast period?
  • What was the Polypropylene Market Size in 2022?
  • What is the expected Polypropylene Market size in 2029?
  • What are the global trends in the Polypropylene Market?
  • What are the upcoming industry applications and trends for the Polypropylene Market?
  • What recent industry trends can be implemented to generate additional revenue streams for the Polypropylene Market?
  • What growth strategies are the players considering to increase their presence in the Polypropylene Market?
  • What major challenges could the Polypropylene Market face in the future?
  • Who held the largest market share in the Polypropylene Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2017 to 2022)
  • Past Pricing and price curve by region (2017 to 2022)
  • Market Size, Share, Size & Forecast by Different Segment | 2023−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Market Segmentation – A detailed analysis by Type, Process, and End User.
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Maximize Market Research is leading Material and chemical research firm, has also published the following reports:

Metalized Cast Polypropylene Market - The market size is expected to reach USD 2.68 Billion by 2029 at a CAGR of 5.8 percent during the forecast period. Asia Pacific dominated the global market and is expected to continue this dominance during the forecast period.

Recycled Polypropylene Market - The market size is expected to reach USD 13.37 Billion by 2029 at a CAGR of 6.34 percent during the forecast period. The market is expected to be driven by the increasing demand for fast-moving consumer goods amongst the population and development of films for packaging.

Melt-Blown Polypropylene Filters Market - The market size is expected to reach USD 3.76 Billion by 2029 at a CAGR of 8.10 percent during the forecast period. The rising awareness about high-efficiency filtration procedures among major food and beverages manufacturers across the globe is expected to drive market growth.

Polypropylene Compounds Market - The market size is expected to reach USD 34.01 Billion by 2029 at a CAGR of 7.6 percent during the forecast period. Asia-Pacific region dominated the market and is expected to dominate the global market during the forecast period.

Expanded Polypropylene Foam Market - The market size is expected to reach USD 1623.14 Million by 2029 at a CAGR of 6.3 percent during the forecast period. The increasing use of thermoplastics for use in auto components in comparison to glass and metal is expected to drive the demand for EPP foam.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.


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