UK Markets closed

Polypropylene-Plastic Material And Resins Global Market Report 2022: Aerospace, Military, and Medical Industry Applications Driving Demand

Company Logo
Company Logo

Global Polypropylene-Plastic Material and Resins Market

Global Polypropylene-Plastic Material and Resins Market
Global Polypropylene-Plastic Material and Resins Market

Dublin, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The "Polypropylene-Plastic Material And Resins Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global polypropylene-plastic material and resins market is expected to grow from $114.74 billion in 2021 to $126.93 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The market is expected to grow to $185.02 billion in 2026 at a CAGR of 9.9%.

The polypropylene market consists of the sale of polypropylene and related services. Polypropylene is a thermoplastic polymer produced by chain-growth polymerization of the monomer propylene and is used in automotive fittings and industrial fibers. It is resilient and resistant to fatigue and highly resistant to most acids and alkalis.

The main product types of polypropylene are homopolymer, copolymer. Homopolymer is a polymer-like polyethylene that contains identical monomer units. The applications are fiber, film and sheet, raffia, and other applications. The end-use industries are packaging, automotive, consumer products, electrical and electronics, other end-user industries.

Asia Pacific was the largest region in the polypropylene market in 2021. North America was the second-largest region in the polypropylene market. The regions covered in the polypropylene report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Rising demand for thermoplastic materials contributed to the growth of the polypropylene market. Due to their unique chemical properties, thermoplastic materials can be recycled and remolded without affecting their physical properties. Thus, making thermoplastic materials much useful in many applications such as clothing, packaging, food, and beverages. Additionally, they are also used in heavy-duty applications such as aerospace, military, and medical industries. According to American Freedonia Group data, the global Thermoplastic elastomer (TPE) market surpassed $ 24 billion and market demand reached 6.7 million tons in 2019, which will grow at a rate of 5.2% every year in the future. The rising demand for thermoplastic materials increased the demand for the polypropylene market thereby driving the market.

Variations in the prices of raw materials such as crude oil prices have always been a major challenge in the polypropylene market. Fluctuating crude oil prices increases the operating expense affecting the bottom line of manufacturing companies in this market. For instance, according to the forecast in the most recent Short-Term Energy Outlook from the US Energy Information Administration (EIA) in 2021, Brent crude oil prices averaged $62.26 per barrel and $60.74 per barrel in 2022. Crude oil is the main source of petrochemicals as plastics are produced primarily from petroleum products and therefore crude oil prices are one of the key factors affecting plastic costs, making them very volatile. Volatile prices thereby have a negative impact on the polypropylene market, affecting the market's growth.

Eco-friendly polypropylene compounds are increasingly being used due to strict rules and regulations of the government over recycling and environmental protection. The polypropylene compounds possess unique qualities, making them more favorable and an alternative in the automotive industry. For example, Grand Siam Composites, a joint venture between SCG Chemicals, Mitusui Chemicals Inc., and Prime Polymer, has developed new technologies and inventions to produce high-quality products that are environmentally friendly. With those advancements, GSC's polypropylene compounds are producing high-quality automobile parts such as consoles, instrument panels, bumpers, door panels, and various accessories.

Scope

Markets Covered:

1) By Product Type: Homopolymer; Copolymer
3) By Application: Fiber; Film and Sheet; Raffia; Other Applications
2) By End User Industry: Packaging; Automotive; Consumer Products; Electrical and Electronics; Other End-user Industry

Key Topics Covered:

1. Executive Summary

2. Polypropylene Market Characteristics

3. Polypropylene Market Trends And Strategies

4. Impact Of COVID-19 On Polypropylene

5. Polypropylene Market Size And Growth

6. Polypropylene Market Segmentation

7. Polypropylene Market Regional And Country Analysis

8. Asia-Pacific Polypropylene Market

9. China Polypropylene Market

10. India Polypropylene Market

11. Japan Polypropylene Market

12. Australia Polypropylene Market

13. Indonesia Polypropylene Market

14. South Korea Polypropylene Market

15. Western Europe Polypropylene Market

16. UK Polypropylene Market

17. Germany Polypropylene Market

18. France Polypropylene Market

19. Eastern Europe Polypropylene Market

20. Russia Polypropylene Market

21. North America Polypropylene Market

22. USA Polypropylene Market

23. South America Polypropylene Market

24. Brazil Polypropylene Market

25. Middle East Polypropylene Market

26. Africa Polypropylene Market

27. Polypropylene Market Competitive Landscape And Company Profiles

29. Key Mergers And Acquisitions In The Polypropylene Market

29. Polypropylene Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

  • Lyondellbasell

  • Sinopec

  • Sabic

  • Exxon Mobil

  • Braskem

  • PetroChina

  • Reliance Industries

  • Formosa Plastics

  • Borealis

  • Asahi Kasei Plastics

  • Mitsui Chemicals

  • Dupont

  • INEOS

  • Total S.A.

  • China Petrochemical Corporation

  • LG Chem

  • Sumitomo Chemical

  • Dynachem Co. Ltd.

  • E.I. du Pont de Nemours

  • HMC Polymers Co., Ltd

  • K Polymers, Inc.

  • Scott Bader Company Limited

  • The Dow Chemical Company

  • BASF SE

  • Toray Industries, Inc.

  • Reliance Industries Limited

  • Lotte Chemical UK Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/um878s

Attachment

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900