Reports And Data
The growing demand for polypropylene in the 3D printing industry and the increased installation of propane dehydrogenation will boost market growth
NEW YORK CITY, NEW YORK, USA, July 8, 2022 /EINPresswire.com/ — According to a new report by Reports and Data, the global Polypropylene Market is forecast to reach USD 239.84 Billion by 2030. Increasing adoption of PP in the 3D Printing industry owing to its superior chemical resistance is a significant factor influencing market demand. Polypropylene has the lowest density out of all commonly used in manufacturing plastics, which makes it very light. Other benefits associated with the material, including flexibility, durability, and electrical resistance, make it highly practical for the industry. Currently, the product is being used in the healthcare sector to manufacture medical vials, diagnostic devices, specimen bottles, and pill containers.
Increase in research & development activities in the healthcare sector, owing to government and private spending, and rising adoption of polypropylene in the healthcare sector for various benefits associated with it, such as resistance to chemicals, bacteria and steam sterilization, are likely to drive product demand. Increasing government and private investments in the construction sector for development of infrastructure, housing, and commercial and educational buildings are also expected to increase product demand during the forecast period.
The global Polypropylene market research report provides a brief overview inclusive of competitive landscape and key developments in the market. It provides an extensive study analysis of the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, corporate deals and partnerships, among others. It also offers insights into company overview, financial standing, business expansion plans, and revenue growth of each company. It also sheds light on product advancement, technological developments, and research and development activities.
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Key participants include BASF SE, China National Chemical Corporation (CHEMCHINA), Dow Chemical Company, ENI S.P.A., Exxon Mobil Corporation, Braskem, INEOS Group Holdings S.A., LyondellBasell Industries N.V., Saudi Basic Industries Corporation, SINOPEC, and TOTAL Specialties USA, Inc.
Further key findings from the report suggest:
• Polypropylene is one of the fastest-growing polymers. This growth is mostly attributed to polypropylene’s ability to displace conventional materials such as wood, glass, and metal at a lower cost. The material offers excellent chemical resistance and weldability, which makes it ideal for the automotive industry, consumer goods, and packaging applications.
• The demand for PP resins for moulding is projected to grow significantly in the coming years. PP exhibits specific properties, such as chemical resistance, low density, outstanding property balance, and versatility, which makes it apt for a wide range of applications.
• Polypropylene is majorly used for food packaging. It is widely used for sweet and snack wrappers, hinged caps, and microwave containers. Furthermore, since PP containers do not leach chemicals, they are considered safe for packaging applications.
• Increasing adoption of Biaxially Oriented Polypropylene (BOPP) films in food packaging is also a significant trend observed in the market. Benefits associated with BOPP films, including low moisture transmission rate, excellent slip, and optical properties, high tensile strength, and low thermal shrinkage, have driven their demand for food packaging applications.
• The automotive segment is expected to have lucrative growth during the forecast period due to the increased production of automobiles. Polypropylene is widely used in automotive parts due to its low cost, outstanding mechanical properties, and moldability. Main application areas include battery cases and trays, bumpers, fender liners, interior trim, instrumental panels, and door trims.
• In May 2020, LyondellBasell unveiled that Advanced Global Investment Company (AGIC) has selected the Spheripol technology: the company’s leading polypropylene technology for a new world-scale facility.
• In May 2020, CNOOC and Shell collaborated to expand their petrochemical complex in Huizhou, Guangdong province in China. The companies will focus on the production of ethylene glycol, polyethylene, polypropylene, and propylene oxide through the partnership.
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Key Questions Addressed in the Report:
• What is the expected revenue growth rate the global Polypropylene market is expected to register during the forecast period?
• What are the key growth driving factors of Polypropylene market?
• Who are the leading players in the market?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
• Which region is expected to account for the largest market share in the global Polypropylene
An extensive analysis of the global market is included in the report which covers different factors from region-centric key statistical data to macro- and micro-economic factors that are crucial for forecast assessment. The study also offers a comprehensive analysis of the growth prospects, patents, technological advancements, and product launches in the market.
Extraction Type Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
o Injection Moulding
o Blow Moulding
• Fiber & Raffia
• Films & Sheets
• Bags & Sacks
End Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
o Flexible Packaging
o Rigid Packaging
• 3D Printing
• Automotive & Transportation
Regional Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
• North America
• Asia Pacific
• Latin America
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Key Points Addressed in the Report:
• A detailed analysis of the global Polypropylene market through assessment of key market aspects such as technology, product type, application, end-use, and overall industry dynamics.
• Qualitative and quantitative analysis of the market estimation and CAGR calculation for the forecast period.
• All-inclusive assessment of market dynamics with emphasis on drivers, restraints, opportunities, and limitations.
• Extensive profiling of key companies operating in the market including company overview, financial standing, product offerings, product portfolio, recent product and technological advancement, and business expansion plans.
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About Reports and Data:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.