Global Polypropylene Market Report and Forecast 2023-2028

Global Polypropylene Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global polypropylene market attained a value of USD 106.08 billion in 2022. Aided by increasing demand from various end-use industries and advancements in processing technologies, the market is projected to further grow at a CAGR of 6.3% between 2023 and 2028 to reach a value of USD 154.25 billion by 2028.

Polypropylene, a versatile thermoplastic polymer, is widely used in various applications, including packaging, automotive components, textiles, and consumer goods, among others. It is known for its high chemical resistance, durability, and lightweight properties, making it a popular choice in diverse industries. Polypropylene is primarily produced from propylene monomers through polymerisation processes. The growth of the polypropylene market can be attributed to several factors, such as increasing demand from various end-use industries, advancements in processing technologies, and a growing focus on sustainability. Moreover, the shift towards replacing conventional materials with lightweight alternatives in the automotive sector is expected to propel the market further.

One of the primary drivers for the market for polypropylene is the increasing demand from the packaging industry. Additionally, the pharmaceutical and personal care industries are increasingly utilising polypropylene for packaging their products, further boosting the market growth. The automotive industry is another significant contributor to the polypropylene market. The ongoing trend of reducing vehicle weight to improve fuel efficiency and minimise greenhouse gas emissions has led to the adoption of lightweight materials such as polypropylene. This thermoplastic polymer is extensively used in the manufacturing of various automotive components, including bumpers, interior trims, and door panels, among others.

Advancements in processing technologies have also played a crucial role in the growth of the polypropylene market. Innovations in catalyst technologies and polymerisation processes have led to the production of high-performance polypropylene with improved properties, such as enhanced impact resistance, stiffness, and processability. These advancements have expanded polypropylene's application scope in various sectors, driving market growth. The rising focus on sustainability and circular economy initiatives has positively impacted the polypropylene market. As a recyclable and energy-efficient material, polypropylene is increasingly being recognised as an eco-friendly option in various industries. Governments and industry players are investing in research and development activities to promote the use of recycled polypropylene and develop innovative applications, further contributing to market growth.

Market Segmentation

The market can be divided on the basis of application, end use, and region.

Market Division by Application:

• Injection Moulding
• Fibre
• Film
• Other Extrusion
• Blow Moulding
• Extrusion Coating
• Others

Market Breakup by End Use:

• Packaging
• Automotive
• Agriculture
• Others

Market Segregation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global polypropylene companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• LyondellBasell Industries Holdings B.V.
• China Petrochemical Corporation
• PetroChina Company Limited
• Braskem S.A.
• Exxon Mobil Corporation
• Formosa Plastics Corporation
• Reliance Industries Limited
• TotalEnergies SE
• Others

About Us

Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organization's future success by acquiring one of our Expert Market Research reports today.

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.