Polypropylene is a hugely versatile plastic due to its low cost, durability and excellent tolerance of both chemical substances and high temperature. The growth in polypropylene consumption is mainly driven by a combination of rapid economic development in emerging economies and steady growth in mature economies. Burgeoning demand for a number of PP products from end-user industries such as automotive, packaging, healthcare and etc. is augmenting the polypropylene resin market growth. Thus, the market is expected to grow at a substantial rate over the forecast period owing to the number of investments related to capacity expansion taking place in order to meet the growing demand from various industry verticals.
Polypropylene (PP) also termed as “polypropene” is thermoplastics in nature. It is a linear hydrocarbon polymer expressed as (CnH2n). PP polymer is one of the most versatile polymers and is used as both plastic and as fiber.
Three types of PP grade are available. Choice of the grade for an application depends on following points:
Homopolymer
This grade is considered as general grade and can be used for a variety of general purpose. It is stronger and stiffer than copolymer with high distortion temperature (HDT). They are durable, rigid plastics available in translucent white color and other colors.
Block Copolymer
They are tougher and durable than homopolymer. Their composition consists of 5% to 15% of ethylene with enhanced impact resistance.
Random Copolymer
Random copolymer chemical composition consists of 1% &% of ethylene. They have better flexibility; lower melting points and their structure consist of co-monomer units arranged randomly across pp molecule chain.
Market Analysis
The polypropylene market size was USD 71.08 Billion in 2016 and is projected to reach USD 99.17 billion by 2022, at a CAGR of 5.6% between 2017 and 2022. The base year considered for the study is 2016, while the forecast period is from 2017 to 2022. Also, the global polypropylene market size is projected to reach 99.17 million tons by 2022, at a CAGR of 5.6% between 2017 and 2022.
Major factor driving the growth of this market is the rising demand for polypropylene in emerging markets. The restraining factors in the market are identified as environmental concerns and rising raw material costs. The restraints related to the market mainly pertain to environmental concerns of polypropylene, especially regarding the disposal of plastic waste.
APAC led the global polypropylene market, both in terms of volume and value. The APAC market is also estimated to record the highest growth in terms of volume between 2017 and 2022. Increased demand for polypropylene from packaging, automotive, building & construction, electricals & electronics, and medical industries in countries such as China and India are driving the growth of the market in APAC.
