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Polypropylene (PP) also termed as polypropene and is thermoplastics in nature. Polypropylene (PP) polymer is one of the most versatile polymers and is used as both plastic and as fibre. The polymer is characterised by mechanically rugged and resistant to many chemical solvents like bases and acids. This makes polypropylene plastic ideal for various end-use industries. The main application of PP plastic is in packaging and labelling, textiles, plastic parts and reusable containers of various types. The properties of this polymer depend on the molecular weight and distribution of monomer.
Polypropylene (PP) market has a developing potential over the forecast period due to factors such as rising demand from the automotive industry mainly due to increasing demand for light weight automotive parts to reduce the weight of the vehicles. Moreover, the demand for the polymer is rising from the consumer goods sector over the past few years. The demand for bio based polypropylene is propelled due to increasing environmental concern and government policies. Injection molded parts made from bio based polypropylene are light weight. Moreover, increase in use of polypropylene films in various applications, such as food packaging, and shrink films further increase the requirement of the product during the forecast period. However, fluctuation in raw material prices and availability of raw material are the major factors hampering the growth of the market.
The report analyses the Polypropylene (PP) market based on application and geography.
Based on application, this Polypropylene (PP) market is classified into automotive, electrical & electronics, consumer durable, packaging, construction and medical. The use of materials in automobiles has changed significantly over the past decades. The main driving forces for the rising demand for Polypropylene (PP) are weight reduction, cost reduction and design flexibility in the automotive industry. It is used in wide range of interior and exterior functions, it offer favourable cost-performance as compared to other commercially available materials and allow innovative design concepts, e.g. for enhanced passenger safety and comfort. PP capacitors find uses in many areas of electronics. Although only available in leaded versions they are still widely used. They are seen in many applications such as high power / high AC voltage circuit applications, circuits with high peak current levels, high frequency resonant circuits, precision timing circuits, lighting ballast systems, switching power supplies and sample and hold circuits. High density polyethylene has a high strength to weight ratio and also a high resistance to solvents, acids and other chemicals. It is used in manufacturing of consumer durables such as plastic bags, storage containers for food and other products, beverage bottles, toiletry bottles, fuel tanks on vehicles and garden/yard power equipment and containers for household cleaning chemicals.
Geographically, the global Polypropylene (PP) market is categorized into North America, Europe, Asia Pacific and Rest of the World. Rest of the world comprises of Latin America and Middle East & Africa. Asia Pacific is estimated to be the largest market for polypropylene over the forecast period and is also projected to grow at the highest CAGR. China is anticipated to be the largest market for Polypropylene (PP) due to well established industrial sector. The polypropylene market in Europe is growing rapidly mainly due to exposure of opportunity from the automotive industry and electronics & electrical industry. Moreover, as an established and mature market, Western Europe can be used to illustrate the development of PP consumption in the automotive industry.
Key players of the global Polypropylene (PP) market are SABIC, Sinopec Group, Reliance Industries Limited, China Petrochemical Corporation, Exxon Mobil Corporation, Borealis AG, Formosa Plastics Corporation, Japan Polypropylene Corporation, LyondellBasell Industries Holdings B.V, BASF AG, Braskem and INEOS Olefins & Polymers Europe among others. The Polypropylene (PP) market is characterised by few players globally. LyondellBasell Industries Holdings B.V, Sinopec Group, PetroChina Group and Braskem Group are the world largest PP manufacturers. Mergers, acquisitions, partnerships and new product launches are the key strategies adopted by the market players to increase the consumer base and serve various application areas. In 2018, IKEA collaborated with Neste to increase the production of renewable, bio-based polypropylene plastic.
Polypropylene is a tough, flexible plastic and used for variety of applications. It has high resistant to fatigue which means that it can be repeatedly deformed or strained without cracking. PP also has good resistance to acids and solvents. It is able to withstand higher temperatures than HDPE and so is used for applications where a product must be sterilized or heated, e.g. kettles and dishwasher proof kitchenware. PP plastics can be a good choice for containers because of it being resistant to acid and bases. They have low density, high softening point and offer higher rigidity and hardness. At room temperature, it is resistant to organic solvents.
The report analyses the Polypropylene (PP) market based on application and geography. Based on application, this Polypropylene (PP) market is classified into automotive, electrical & electronics, consumer durable, packaging, construction and medical. Geographically, the global Polypropylene (PP) market is categorized into North America, Europe, Asia Pacific and Rest of the World. Rest of the world comprises of Latin America and Middle East & Africa. Asia Pacific is estimated to be the largest market for polypropylene over the forecast period and is also projected to grow at the highest CAGR. China is anticipated to be the largest market for Polypropylene (PP) due to well established industrial sector.
Key players of the global Polypropylene (PP) market are SABIC, Sinopec Group, Reliance Industries Limited, China Petrochemical Corporation, Exxon Mobil Corporation, Borealis AG, Formosa Plastics Corporation, Japan Polypropylene Corporation, LyondellBasell Industries Holdings B.V, BASF AG, Braskem and INEOS Olefins & Polymers Europe among others.
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