Press release
Polypropylene Market | Trends by Types and Application 2023
A new Transparency Market Research report states that the global polypropylene market was valued at US$81.6 bn in 2014 and is predicted to reach US$ 133.3 bn by 2023. It is expected to expand at a 5.7% CAGR in the forecast period between 2015 and 2023. The title of the report is “Polypropylene Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”.The rising demand for polypropylene within the food and beverages packaging industry, along with the rising demand for lightweight vehicles, is predicted to fuel the market for polypropylene in the coming years. On the other hand, the rising concern regarding the hazardous effects of plastics on the environment and the unpredictable prices of raw materials may inhibit the growth of the market for polypropylene in the coming years. To overcome this obstacle, manufacturers of polypropylene are focusing on biobased polypropylene, which will bring in new opportunities by the end of 2023.
Read Report Overview @
https://www.transparencymarketresearch.com/polypropylene-market.html
On the basis of end user, the polypropylene market is segmented into automotive, packaging, electrical and electronics, consumer products, construction, and others including agriculture, medical, furniture, etc. Amongst these, in 2014, packaging dominated the market, representing a share of over 45% and is also the most swiftly developing end-use segment in the polypropylene market. This is due to the fact that polypropylene has significant uses in both rigid and flexible packaging because of its resistance to high temperatures and strong chemicals.
The automotive end-use segment trailed the packaging segment and took the second biggest share in the market the same year. Polypropylene presents the right amount of mechanical strength and flexibility and provides a high-quality surface finish in vehicles. Polypropylene is also lightweight – around 15-20% lighter when compared to other plastics. This lowers the total weight of vehicles and as a result reduces fuel consumption and resultant carbon dioxide emissions. Hence, the growing demand for lightweight motor vehicles in developing and developed economies is accelerating the global market for polypropylene.
On the basis of geography, the polypropylene market is segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa (MEA). Amongst these, in 2014, Asia Pacific constituted a share of more than 50% in the global market for polypropylene and is predicted to rise even more by 2023. The demand for polypropylene is predicted to rise in India, China, Brazil, and the Association of Southeast Asian Nations (ASEAN), owing to rising demand for food containers within these countries. Additionally, the increasing number of supermarkets within these countries is further raising the demand for polypropylene in the packaging industry.
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On the other hand, Latin America is predicted to increase at an above-average rate owing to rising polypropylene demand from the automotive, construction, and packaging industries. Europe is a stagnant market for polypropylene, however, the rising automotive industry in this region is expected to fuel the polypropylene market in the forecast horizon. BASF SE, Total S.A., Braskem, LyondellBasell Industries N.V., SABIC, Borealis AG, Sinopec, and Reliance Industries Limited, among others are the key players dominant in the market.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Read Report Overview @
https://www.transparencymarketresearch.com/polypropylene-market.html
On the basis of end user, the polypropylene market is segmented into automotive, packaging, electrical and electronics, consumer products, construction, and others including agriculture, medical, furniture, etc. Amongst these, in 2014, packaging dominated the market, representing a share of over 45% and is also the most swiftly developing end-use segment in the polypropylene market. This is due to the fact that polypropylene has significant uses in both rigid and flexible packaging because of its resistance to high temperatures and strong chemicals.
The automotive end-use segment trailed the packaging segment and took the second biggest share in the market the same year. Polypropylene presents the right amount of mechanical strength and flexibility and provides a high-quality surface finish in vehicles. Polypropylene is also lightweight – around 15-20% lighter when compared to other plastics. This lowers the total weight of vehicles and as a result reduces fuel consumption and resultant carbon dioxide emissions. Hence, the growing demand for lightweight motor vehicles in developing and developed economies is accelerating the global market for polypropylene.
On the basis of geography, the polypropylene market is segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa (MEA). Amongst these, in 2014, Asia Pacific constituted a share of more than 50% in the global market for polypropylene and is predicted to rise even more by 2023. The demand for polypropylene is predicted to rise in India, China, Brazil, and the Association of Southeast Asian Nations (ASEAN), owing to rising demand for food containers within these countries. Additionally, the increasing number of supermarkets within these countries is further raising the demand for polypropylene in the packaging industry.
Request to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1664
On the other hand, Latin America is predicted to increase at an above-average rate owing to rising polypropylene demand from the automotive, construction, and packaging industries. Europe is a stagnant market for polypropylene, however, the rising automotive industry in this region is expected to fuel the polypropylene market in the forecast horizon. BASF SE, Total S.A., Braskem, LyondellBasell Industries N.V., SABIC, Borealis AG, Sinopec, and Reliance Industries Limited, among others are the key players dominant in the market.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
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