According to Future Market Insights (FMI), the global Polypropylene Market registered a year-on-year (YoY) growth of 3.5% in 2021. Demand of polypropylene market is projected to grow at a value of 4.5% CAGR between 2022 and 2030. Future Market Insights (FMI) forecasts the market value to top USD 86,995.4 Million in 2022.
| Attributes | Details |
|---|---|
| Polypropylene Market Value (2021A) | USD 83,878.2 Million |
| Polypropylene Market Estimation (2022E) | USD 86,995.4 Million |
| Polypropylene Market Forecast (2030F) | USD 117,513.8 Million |
| Value CAGR (2022 to 2030) | 4.5% |
| Collective Value Share: Top 3 Countries (2021A) | 47.4% |
Rising demand from end-use industries, along with growing building & construction activities will continue pushing sales in the polypropylene market. Considering this, FMI has forecast the global polypropylene sales to reach a valuation of USD 117,513.8 Million in 2030.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 3.4% |
| H1,2022 Projected (P) | 3.7% |
| H1,2022 Outlook (O) | 3.9% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 20 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 50 ↑ |
Global polypropylene outlook by sales outlook is increased by 3.4% in the first half of 2021. Rising demand from end-use industries combined with significant growth in building and construction sector, is anticipated to drive the sales of polypropylene.
This has resulted in a 50 BPS point increase in 2022 estimated growth outlook as compared to actual growth. However, the market's estimated growth projection to witness an uptick of 20 BPS points in the first half of 2022 as compare to the earlier projections.
Owing to change in market trends and demography, FMI has revisited a study for market growth outlook on half yearly basis. The analysis has been updated to better comprehend the industry's growth prospects in light of current market trends and the drivers influencing market growth.
Polypropylene is utilised in a variety of applications, including fibre and raffia, they are used as flexible fibres in carpet, carpet backing, and tapes. The growing need for moulding plastics in practically every end-use industry is boosting the demand for polypropylene.
Polypropylene is being used more frequently in packaging, cars, building and construction, healthcare, and electronics. The automotive industry is polypropylene's second-largest end-use industry. The increasing demand for electric and hybrid electric vehicles (EV/HEV) is the primary driving driver for polypropylene in the automotive industry.
Polypropylene demand will rise in the next years since there is an increasing need for the material in the packaging industry. However, owing to restrictions in plastic usage, demand prospects for polypropylene to get impacted.
Sales of polypropylene increased at a2.3% CAGR,between 2015 and 2021, with countries such as the USA, China, India, South Korea, Japan and Germany accounting for a substantial portion of the global market. Sales prospects in 2020 and 2021 were dampened due to the outbreak of COVID-19 pandemic, which reduced the demand for polypropylene from its applications areas such as fibres and filaments, spun bond non-woven, melt blown non-woven, injection moulding, and blow moulding. The pandemic crisis has impacted the overall growth of the polypropylene market during the past few years.
With advancements in technology and increased efforts by research centers, it can be inferred that, in the future, the roadmap of technology will change and lead to new cost-effective methods for the mass production of polymer composites. Increasing demand for plastic in various end use industries are expected to bolster the demand for polypropylene in the coming years. As a result, the polypropylene market is projected to grow by value, at a4.5% CAGRduring the forecast period of 2022 to 2030.
Principal Consultant
Growing demand from end-use industries such as packaging, automotive, building & construction, healthcare, and electrical & electronics is a prominent factor for driving the growth of the polypropylene market. Polypropylene is a low-cost material with excellent mechanical properties and moldability, owing to this factor, more than half of the plastic used in the automotive sector is polypropylene. Polypropylene is used in various automotive parts, such as bumpers, instrumental panels, and door trims.
The properties of polypropylene, such as low density, lightweight, high heat resistance, durability, and high clarity, make it a suitable material for packaging. Polypropylene is also used in building & construction and electrical & electronics for insulating building wraps and insulation of electronics goods.
The Ministry of Industry and Information Technology of China forecast the country’s electric car sales to double in the coming years. These factors will be responsible for boosting the growth of the global polypropylene market.
As per FMI, China is projected to account for nearly 32.6% of the global market share, creating an incremental opportunity of above USD 10,767.1 Million in 2030.
China is expected to remain a key producer of polypropylene across the globe. This can be mainly attributed to rapid industrialization in the country. Growth in the production of automobiles in the country, will provide immense growth prospects to the polypropylene industry.
Furthermore, China is planning to increase polypropylene capacities by more than 15 Million tons in the near future in order to satisfy domestic demand and to promote employment in downstream manufacturing end-use industries. This is expected to augment growth of the polypropylene market in China.
In 2022, the market is expected to grow by 3.5% year-on-year, reaching a valuation of USD 9,359.9 Million by the end of 2022 in the United States of America. High investments in research and development to bring in the market advanced technologies is augmenting the sales of polypropylene in the country. Key manufacturer of plastics in the country had bolstered the consumption of polypropylene.
USA ranks high in the annual global production of automobiles. Moreover, the presence of leading companies like Exxon Mobil Corporation, Eastman Chemical Company, LyondellBasell Industries N.V. and Westlake Chemical Corporation is expected to bolster the growth of these products in the country.
India is projected to account for 6.8% of the global polypropylene market share in 2030. Increasing adoption of polypropylene for sterilization in the medical and healthcare industry, along with a rapid rise in building and construction owing to urbanization are expected to generate high demand for polypropylene over the forecast period in the country.
Significant increase in the demand for polypropylene in food packaging, manufacturing of bottles and containers, and many others are boosting the growth of the market in India. Alongside, profit bearing growth strategies and product innovations by many key players are expected to propel sales of polypropylene over the assessment period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Sales of homo-polymers are expected to grow at a significant value of 3.6% CAGR, over the forecast period of 2022 to 2030.
Propylene homo-polymer is the most widely used general-purpose type which has a high strength-to-weight ratio, and is stiffer and stronger as compared to copolymers. These properties, combined with good chemical resistance and weld-ability, make it a material of choice in many corrosion resistant structures. It is widely used in applications including packaging, textiles, healthcare, pipes, automotive, and electrical applications. Owing to these factors, sales of HP polypropylenes are projected to increase over the forecast period.
Amongst the various applications, cast and water quenched films application segment is projected to remain the key segment and create an absolute dollar opportunity of more than USD 1,999.3 Million during the period of 2022 to 2030, and account for 8.5% a share in the global polypropylene market.
Water quenched films offer advantages as higher & robust throughputs, high clarity, high gloss, soft touch and excellent mechanical properties. They can be used for various applications such as multi-layer plastic packing film for food, agricultural and side-line products, medical treatment, pesticide, in the chemical industry, and in daily use articles. This will continue providing tailwinds to polypropylene sales over the assessment period.
Leading players operating in the polypropylene market are focusing on incorporation of CSR norms. Apart from this, players are focusing on strategic acquisitions and mergers, and innovative product launches to serve more end users in the domestic market, in order to gain a competitive edge. For instance:
| Attributes | Details |
|---|---|
| Forecast Period | 2022 to 2030 |
| Historical Data Available for | 2015 to 2021 |
| Market Analysis | USD Million for Value and Kilo Tons for Volume |
| Key Regions Covered | APEC; Europe; INS; W-Africa; E-Africa; N-Africa; CIS-R; N-AM; C-AM; EC-SAM and CS-SAM |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, UK, France, Spain, BENELUX, Russia, Japan, China, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Product Grade, Application, and Region |
| Key Companies Profiled | BASF SE; SABIC; Exxon Mobil Corporation; Eastman Chemical Company; Lotte Chemical; LG Chem; Petro China Company Limited; INEOS; Rongsheng Petrochemical Co., Ltd.; Borealis AG; Formosa Plastics Corporation; Advanced Petrochemical Company; Japan Polypropylene Corporation; Braskem; Westlake Chemical Corporation; LyondellBasell Industries N.V.; Reliance Industries Limited; China Petrochemical Corporation (Sinopec Ltd) |
| Report Coverage | Market Forecast, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The polypropylene market reached a valuation of USD 83,878.2 Million in 2021.
The polypropylene market experienced moderate growth, exhibiting a 2.3% CAGR between 2015 and 2021.
High demand from end-use sectors, long term supply chains, and rise in global CO2 emissions leading to shifting focus of manufacturers on incorporation of CSR norms are driving sales of polypropylene.
China polypropylene market is projected to grow at an impressive 4.2% CAGR during the forecast period.
Polypropylene market in North America is anticipated to hold a market share of 11.7% by the end of 2030.
1. Executive Summary 2. Market Overview 3. Key Market Trend 4. Key Success Factors 5. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2030 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2015 to 2021 and Forecast, 2022 to 2030 8. Market Background 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2030, by Product Grade 9.1. HP 9.2. RCP 9.3. ICP 9.4. TPO 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2030, By Application 10.1. BOPP Film 10.2. Raffia/Thermoforming 10.3. Fibres & Filaments 10.4. Spun Bond Non-Wovens 10.5. Melt Blown Non-Wovens 10.6. Injection Moulding 10.7. Blow Moulding 10.8. Cast & Water Quenched Film 10.9. Pipe & Sheet 10.10. Transparent TPO 11. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2030, by Region 12. APEC Market Analysis 2015 to 2021 and Forecast 2022 to 2030 13. China Market Analysis 2015 to 2021 and Forecast 2022 to 2030 14. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2030 15. INS Market Analysis 2015 to 2021 and Forecast 2022 to 2030 16. Turkey Market Analysis 2015 to 2021 and Forecast 2022 to 2030 17. Vietnam Market Analysis 2015 to 2021 and Forecast 2022 to 2030 18. W-Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2030 19. N-Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2030 20. Bangladesh Market Analysis 2015 to 2021 and Forecast 2022 to 2030 21. CIS-R Market Analysis 2015 to 2021 and Forecast 2022 to 2030 22. N-AM Market Analysis 2015 to 2021 and Forecast 2022 to 2030 23. C-AM Market Analysis 2015 to 2021 and Forecast 2022 to 2030 24. EC-SAM Market Analysis 2015 to 2021 and Forecast 2022 to 2030 25. CS-SAM Market Analysis 2015 to 2021 and Forecast 2022 to 2030 26. Key and Emerging Countries Market Analysis 27. Market Structure Analysis 28. Competition Analysis 28.1. LyondellBasell Industries N.V. 28.2. SABIC 28.3. Reliance Industries Ltd 28.4. PetroLatin America Company Limited 28.5. Sinopec Ltd 28.6. Exxon Mobil Corporation 28.7. Borealis AG 28.8. Formosa Plastics Corporation 28.9. Japan Corporation 28.10. PetroLatin America 28.11. Advanced Petrochemical Company 28.12. INEOS 28.13. Latin America Petrochemical Corporation 28.14. LG Chem 28.15. Eastman Chemical Company 28.16. BASF SE 28.17. Braskem 28.18. Westlake Chemical Corporation 28.19. Lotte Chemical 28.20. Zhejiang Petrochemical 29. Assumptions and Acronyms Used 30. Research Methodology
Explore Chemicals & Materials Insights
View Reports
Polypropylene Market
