Global Polypropylene Market is projected to register a steady CAGR of 3.6% in the forecast period of 2019 to 2026. The new market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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Drivers: Global Polypropylene Market
- Increasing demand for electric vehicles
- Growing preference and consumption of lightweight materials
Restraints:
- Increasing plastics pollution worldwide
- Presence of multiple substitutes
Opportunity:
- Development of bioplastics
Challenge:
- Susceptible to UV degradation
Market Trends:
Global polypropylene market is segmented into two notable segments on the basis of type and application.
- On the basis of type, the market is segmented into homopolymers and copolymers. In 2019, copolymer is expected to dominate the market with the largest market share.
- On the basis of application, the market is segmented into packaging, automotive, medical, construction, consumer products, electrical & electronics and others. In 2019, packaging segment is expected to dominate the market with the largest market share because both the types of the polymers, copolymers and homopolymers are utilized majorly in the packaging of food products and various medical equipment.
Key Market Players: Global Polypropylene Market
Some of the major players operating in this market are China Petroleum & Chemical Corporation, Total, PetroChina Company Limited, Exxon Mobil Corporation, SABIC, BASF SE, Borealis AG, Braskem, Celanese Corporation, Formosa Plastics Corporation, U.S.A., LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Niche Polymer, PolyOne Corporation, Reliance Industries Limited, Sasol Limited, SCG Chemicals Co., Ltd., Sumitomo Chemical Co., Ltd., Trinseo, Westlake Chemical Corporation among others.
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