Polypropylene Market Size, Share & Trends Report

Polypropylene Market Size, Share & Trends Analysis Report By Type (Homopolymer, Copolymer), By Process (Injection Molding, Blow Molding), By Application, By End Use And Segment Forecasts, 2020 - 2027

  • Published Date: Jun, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-493-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 120

Report Overview

The global polypropylene market size was valued at 115.9 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 3.1% from 2020 to 2027. Ascending application of polypropylenes in fiber, raffia, and film and sheet, coupled with the growing trend of the application of polypropylene (PP) in the automotive sector to manufacture lightweight vehicles for increased fuel efficiency, is anticipated to be the major factors driving the market over the forecast period.

U.S. polypropylene (PP) market size

Polypropylene is a lightweight material and has a broad range of superior properties, such as resistant to several chemical solvents, acids, and bases, high tensile strength, staining resistance, and low moisture resistance. Owing to its excellent chemical and mechanical properties, it is extensively used in manufacturing automotive components, packaging and labeling, medical devices, and construction, diverse laboratory equipment, among various others.

Rising application of polypropylene material in the packaging industry, where demand is especially associated with the ascending consumption of packed food and beverages, is expected to drive the product demand over the forecast period. Polypropylene helps in minimizing the possibility of food deterioration and has excellent moisture resistance, which increases its acceptability for effective food packaging solutions in the food and beverage industry.

Polypropylene (PP) material is also used for the manufacturing of automotive components, profiles, fashion apparel, and healthcare devices. Rising demand for the aforementioned components in various end-use industries, coupled with technological advancements and shifting consumer preferences towards lightweight electronics products, is expected to drive the demand for polypropylene in the coming years.

However, the lockdown imposed by various governments to contain the spread of coronavirus pandemic has led to a decline in consumption of polypropylene and has negatively impacted its demand in various applications. Manufacturers are witnessing difficulties in running production units owing to logistic restrictions and limitations on the movement of people, which are further cascading the negative impact on the product demand. However, rising need for specialized polypropylene in the healthcare sector for manufacturing medical masks, gowns, and other safety kits is expected to support the product demand in the coming years.

As COVID-19 continues to spread across the world, work from home rules, order cancellations, and shipping complications are surging throughout the polypropylene industry. End-use industries such as automotive and construction are witnessing a sharp decline in terms of demand and production owing to the reducing discretionary spending, factory shutdowns, limitations on supply and transport, and a slowdown in infrastructure development activities across the globe.

Type Insights

Homopolymer led the market and accounted for 83.3% share of the global revenue in 2019. Rising application of homopolymer polypropylene in manufacturing of various components, such as orthotic and prosthetic devices, pump components, secondary containments, and storage tanks, for various end-use industries, such as healthcare, automotive, and construction, is expected to drive the segment over the forecast period.

Homopolymer polypropylene offers high isostatic index, resulting in high melting point, and thus is widely used in applications where high temperature resistance is required, such as steam sterilization and hot filling. They possess excellent weldability and chemical resistance, and therefore they are extremely suitable for various corrosion resistant structures.

In comparison to a homopolymer, copolymer polypropylene is softer, but has a stronger impact strength and is more durable than homopolymer propylene. It is widely being used in the medical industry. Copolymer polypropylene has higher stress crack resistance and toughness at low temperatures, which is expected to drive the demand for copolymer polypropylene over the forecast period.

Application Insights

Film and sheet led the market and accounted for a 35.46% share of the global revenue in 2019. Rising application of polypropylene in packaging materials, binders, boxes, and portfolios owing to its better chemical resistance, high temperature stability, excellent moisture barrier, high temperatures stability, excellent chemical resistance, and exceptional contact clarity is expected to propel the segment growth over the forecast period.

Rapid growth of the packaging sector, particularly in countries such as India and China, on account of increasing penetration of the e-commerce platform for purchasing the product, is expected to have a positive impact on the segment growth over the forecast period.

Fiber emerged as the second largest application segment and captured a revenue share of 29.15% in 2019. Rising demand from the automotive sector for automotive flooring, pull straps, seat cover construction, and seam reinforcement is expected to boost the product demand in the coming years.

End-use Insights

Packaging led the market and accounted for a 35.96% share of the global revenue in 2019. Product properties such as high flexibility and ability to survive in extreme conditions are expected to drive the demand for polypropylene in the packaging segment.

Moreover, demand for polypropylene in packaging is expected to shift severely toward food packaging applications owing to the shutdown of restaurants and food service outlets caused by the pandemic. The stockpile and panic purchases of food, groceries, and other homecare necessities are further expected to accentuate the aforementioned trend. However, demand for polypropylene in premium good and non-food packaging is expected to decline significantly as supermarkets and convenience stores have been shut for a certain period.

The electrical and electronic segment is expected to witness significant growth over the forecast period owing to rising consumption of polymers in computer, mobiles, tablets, and mobile phones. In addition, shifting preferences of consumers from heavy metal to lightweight material in the electrical and electronics and automotive segment is anticipated to fuel the demand for polypropylene over the forecast period.

Process Insights

Injection molding led the market and accounted for a 36.30% share of the global revenue in 2019. A wide range of applications of injection-molded polypropylene in various end-use markets, such as automotive, packaging, and electrical and electronics, owing to its excellent high impact strength, moisture resistance, and chemical resistance is expected to drive the demand for injection molded polypropylene products over the forecast period.

In addition, recent developments in the injection molding technique, such as multiple-component injection and microinjection, coupled with advanced injection molding machines, resulting in better and efficient end products, are driving the use of this technique in the production process of various polypropylene products.

Global polypropylene (PP) market share

Blow molding process held the second largest revenue share in 2019. The blow molding process is majorly used in manufacturing hollow polypropylene containers, such as food containers, plastic bottles, containers, and milk jugs, for various applications such as packaging. These products possess excellent moisture barrier, high temperature stability, excellent chemical resistance, and clarity at low temperatures owing to which they are highly used in the food and beverage industry.

Regional Insights

Asia Pacific dominated the market and accounted for 47.43% share of the global revenue in 2019. Growing demand for polypropylene from the automotive and packaging sector, especially in countries such as India, China, and Japan, is expected to drive the market in the region. Presence of market leaders such as Formosa Plastics Group, China Petrochemical Corporation, LG Chem, and Sumitomo Chemical in the region is also expected to augment the demand for polypropylene in the region in the coming years.

North America captured a revenue share of 15.40% in 2019. One of the major factors driving the market in the region is increasing use of packaging in the food and beverage industry in the countries, such as the U.S., Canada, and Mexico. In addition, increasing number of R&D centers and rising consumer demand for lightweight automotive components and electronic products are propelling the demand in the region.

Key Companies & Market Share Insights

The market is characterized by the presence of various small- and medium-scale companies catering to global and local demand. It is characterized by forward integration through raw material production, polypropylene manufacturing, and distribution to various application industries.

Integration across the stages of the value chain results in continuous raw material supply as well as low manufacturing costs. R&D initiatives by a few companies to enhance their product specifications and expand the market reach are expected to further augment the product demand in the years to come. Some of the prominent players in the global polypropylene market include:

  • SABIC

  • Exxon Mobil Corporation

  • Lyondellbasell Industries Holdings B.V.,

  • China Petrochemical Corporation

  • BASF SE

  • Eastman Chemical Company

  • LG Chem

Polypropylene Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 117.9 billion

Revenue forecast in 2027

USD 146.2 billion

Growth Rate

CAGR of 3.1% from 2020 to 2027

Market demand in 2020

69,140.8 kilotons

Volume forecast in 2027

82,714.0 kilotons

Growth Rate

CAGR of 2.6% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in Kilotons, Revenue in USD Million and CAGR from 2020 to 2027

Report coverage

Volume and revenue forecast, company share, competitive landscape, growth factors and trends

Segments covered

Type, process, application, end use, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; China; India; Japan; Brazil; Argentina; Saudi Arabia; UAE

Key companies profiled

Lyondellbasell Industries Holdings B.V.; SABIC; BASF SE; Eastman Chemical Company; LG Chem

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Segments Covered in the Report

This report forecasts volume and revenue growth at the global, regional, and country levels, and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2016to 2027. For the purpose of this study, Grand View Research has segmented the global polypropylene market report on the basis of type, process, application, end use, and region:

  • Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Homopolymer

    • Copolymer

  • Process Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Injection Molding

    • Blow Molding

    • Extrusion

    • Other

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Fiber

    • Film and Sheet

    • Raffia

    • Other

  • End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Automotive

    • Building & Construction

    • Packaging

    • Medical

    • Electrical & Electronics

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • The U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central and South America

      • Brazil

      • Argentina

    • Middle East and Africa

      • Saudi Arabia

      • UAE

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