Polypropylene Market to Surpass Valuation of US$ 164 Bn by 2027; Packaging Manufacturers Utilize Versatility of Polymer, Observes TMR

Polypropylene Market to Surpass Valuation of US$ 164 Bn by 2027; Packaging Manufacturers Utilize Versatility of Polymer, Observes TMR

PR Newswire

ALBANY, New York, May 11, 2020

- Automobile, construction, electrical and electronics, and medical industries utilize salient characteristics of polypropylene

- Widespread use in making food containers key to sizable revenues in Asia Pacific for players; research on biobased polypropylene expands horizon

ALBANY, New York, May 11, 2020 /PRNewswire/ -- Current Prospects and Future Outlook: End-use industries, notably including packaging, automobile, construction, electrical and electronics, and medical, are harnessing the beneficial properties of resins in wide range of applications. Incredible opportunities in the polypropylene market emerge from the growing body of research and consistent research and development activities in developing regions. The worth of the polypropylene market was US$ 100 bn in 2018 and is projected to reach US$ 164 bn by the end of 2027. The slew of properties industries harness include remarkable surface hardness, striking tensile strength, and chemical inertness.

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Automotive players particularly original equipment manufacturers (OEMs) are increasingly adopting the resin due to it being light weighting along with numerous mechanical properties it offers. The propylene market is expected to garner a CAGR of more than 5.5% from 2019 to 2027. The increasing trend of light-weighting of vehicles will bolster the uptake of this polymers used, notes analysts at TMR.

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Key Takeaways in Polypropylene Market Study

Explore 129 of pages of top-notch research, incisive insights, and detailed country-level projections of Polypropylene Market for Packaging, Automotive, Consumer Products, Electrical & Electronics, Construction and Other End-user Industries - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027. Gain business intelligence on Polypropylene Market at https://www.transparencymarketresearch.com/polypropylene-market.html

Polypropylene Market: Key Driving Factors and Avenues

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Polypropylene Market: Region-wise Analysis

Among the various regions, Asia Pacific is expected to be a highly lucrative market. The growth is driven by the considerable use of polypropylene materials in various product packaging applications, especially in ASEAN region. The regional market held 55.0% of the share in 2018. The regional market will gain shares in coming years.

The focus on compliance on environmental regulations in Europe has spurred the prospects of propylene in manufacturing automobile bodies. The trend will also provide momentum to otherwise mature regional market.

Polypropylene Market Players Competitive Landscape

Numerous players in recent years have been leaning in expanding the production facilities. To this end, top players have entered into joint ventures. A few players in the developed markets are focusing on harnessing modern manufacturing technologies in making biobased polypropylene, to meet the next-generation demand in end-use industries in polypropylene market. Some players are also expanding their product portfolio, mainly by spending sizable dollars in research and innovations.

Analyze Polypropylene Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Some of the well-entrenched players in the polypropylene market are Exxon Mobil Corporation, Formosa Plastics Corporation, Reliance Industries Limited, Borealis AG, Sinopec, SABIC, Braskem, Total S.A., LyondellBasell Industries N.V., and BASF SE.

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