Polypropylene (PP) Resin Market - Forecast(2021 - 2026)
Polypropylene Resin Market Overview:
Polypropylene (PP) is an isotactic thermoplastic Resin of the vinyl polymer group. It is a downstream petrochemical product that is derived the Olefin monomer, propylene. It is a hydrocarbon following the formula CnH2n. It is the second most used synthetic polymer globally after polyethylene. China is the largest producer of polypropylene with a market share of 20% as of 2016, followed by the rest of Asia (excluding China) at almost 19%, Europe at 11%, North America at 8.6%, Middle east at almost 8%, south America at 3%, Africa at around 2% and then the rest of the world.
Polypropylene Resin Market Outlook:
Polypropylene is a widely used product with a variety of applications in major consumables and disposable products. Polypropylene is manufactured from propylene gas in the presence of a catalyst. There are many licensed technologies for the production of Polymer, with the most widely used processes trademarked as UNIPOL PP Technology licensed by W.R Grace & Co., followed by the Spheripol Technology licensed by LyondellBasell. One of the largest uses of Polypropylene is its application in the packaging industry, which accounts for the largest market share of Polypropylene. The propylene market is forecasted to have a stable growth in the forecast period due to its importance in the consumables and disposable industry and packaging industry.
Polypropylene Resin (PP) Market Growth drivers:
The major growth driver for the Polypropylene Resin market is its, high operational temperature, high fatigue life, excellent resistance to stress and high resistance to cracking. Its high resistance to most alkalis, acids, organic solvents, degreasing agents and electrolytic attack is also a great advantage that has fueled its use in packaging, housewares, piping, containers and automotive parts. Polypropylene is also economical to manufacture and has very good price to performance ratios which have added to its advantages.
Another major growth driver for the market has been the reusability factor of waste polypropylene products. Polypropylene is pretty much harmless to humans on exposure and does not emit toxic fumes on combustion as well. It also does not pose any chemical hazard to the environment. Due to it being a thermoplastic elastomer, it can be melted and re-used. This is cost effective process which is major plus factor for the industry which has driven the application of polypropylene resins.
Polypropylene Resin (PP) Market Challenges:
One of the challenges faced by the polypropylene resins market is the use of polypropylene resins in the foam application due to the low melt strength that is inherent in the PP resin. The foaming of PP leads to poor cell morphology, cell rupture and has limited density reduction. These disadvantages have limited the use of PP resins in the thermoplastic foaming market. There is research being done to improve the melt strength of PP resins.
The major challenge faced by the PP resins market is the polluting factor of the consumables and disposables plastics made by PP resins. Due to its major use in packaging of various consumer articles like food items there is high rate of pollution of the disposed materials in the environment that is physically hazardous to Animals, birds and marine life. Plastic account for almost 22% of the solid wastes globally, and PP resins being one of the most used materials for the manufacture of plastics holds a major share in that pollution. The issue that comes with recycling PP resin products is that the material properties, for which PP resins are preferred, degrade on being melted and recycled.
The dependence of PP resins on crude oil also poses an important challenge to the industry, as crude oil is not renewable and is expensive and volatile. Companies are trying to figure out bio-based sources for the production of Polypropylene.
Polypropylene Resin Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Polypropylene Resin market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
Polypropylene Resin Market Report: Industry Coverage
Polypropylene Resin– By Type: Homopolymer, Random Copolymer, Impact Copolymer and others.
Polypropylene Resin– By Production Technology: Spheripol, UNIPOL PP, Novolen, Innovene, Hypol, Spherizone, Borstar PP, Chisso, Sumitomo and others.
Polypropylene Resin– By Processing Methods: Extrusion, Melt-Spinning, Injection Molding, Blow-Molding, Thermoforming and others.
Polypropylene Resin– By Application Type: Packaging, Housewares, Automotive parts, Containers, Bags, sheets, Bottles, Fibers, Tapes, Films, Medical materials and others.
Polypropylene Resin Market – By End User Industry: Medical and Health Industry, Electrical and electronics Industry, Manufacturing Industries, Automotive industry, Oil and Gas Industry, Food packaging Industry, Construction Industry and others.
The Polypropylene Resin market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
Polypropylene Resin Market Key Players Perspective:
LyondellBasell, on Nov 21, 2017, announced that it agreed to purchase a 50 percent share in Quality Circular Polymers (QCP), a high standard plastics recycling company in Sittard-Geleen, Netherlands along with SUEZ a French company with expertise in waste and water management. Both companies will have a 50/50 stake in QCP. "As the circular economy increases in prominence and importance, we believe that demand for recycled materials will continue to grow," LyondellBasell CEO Bob Patel and SUEZ CEO Jean-Louis Chaussade said in a joint statement. "This acquisition combines LyondellBasell's European market presence and technical capabilities with SUEZ's ability to collect and recover waste into new materials. We believe that this new venture will provide a strategic platform for future sustainable growth."
Some of the Key players in this market that have been studied for this report include: Lyondellbasell, Sinopec, Sabic, PetroChina, Reliance Industries, Formosa Plastics, Borealis, Braskem Group, ExxonMobil, Total PC and many more.
Market Research and Market Trends of Polypropylene Resin Market
The partnering of the largest PP resin plastic producer Lyondellbasell with Karlsruhe Institute of Technology to assist in the recycling of Plastics to help global efforts towards cyclical economy and plastic waste recycling needs is major step forward for the PP resin market. With the high level of plastic pollution globally and its awareness among people, this step taken by them is sure to shift the PP resin industry towards a more eco-friendly approach by recycling PP resin plastic wastes and re-using the products.
Another major trend in the PP resin market is seen where a number companies that have been buying the production technologies being sold by W.R. Grace&Co. and Lyondellbasell. It shows an in trend in more players trying to enter the highly profitable market of PP resins.
The research being done on production of high melt strength PP resins by academia and key players alike is positive push for the market. This opens up more avenues for more applications of PP resin polymers in foams, construction and automotive. This will grow the PP resin market as its applications increase.
Polypropylene (PP) is an isotactic thermoplastic Resin of the vinyl polymer group. It is a downstream petrochemical product that is derived the Olefin monomer, propylene. It is a hydrocarbon following the formula CnH2n. It is the second most used synthetic polymer globally after polyethylene. China is the largest producer of polypropylene with a market share of 20% as of 2016, followed by the rest of Asia (excluding China) at almost 19%, Europe at 11%, North America at 8.6%, Middle east at almost 8%, south America at 3%, Africa at around 2% and then the rest of the world.
Polypropylene Resin Market Outlook:
Polypropylene is a widely used product with a variety of applications in major consumables and disposable products. Polypropylene is manufactured from propylene gas in the presence of a catalyst. There are many licensed technologies for the production of Polymer, with the most widely used processes trademarked as UNIPOL PP Technology licensed by W.R Grace & Co., followed by the Spheripol Technology licensed by LyondellBasell. One of the largest uses of Polypropylene is its application in the packaging industry, which accounts for the largest market share of Polypropylene. The propylene market is forecasted to have a stable growth in the forecast period due to its importance in the consumables and disposable industry and packaging industry.
Polypropylene Resin (PP) Market Growth drivers:
The major growth driver for the Polypropylene Resin market is its, high operational temperature, high fatigue life, excellent resistance to stress and high resistance to cracking. Its high resistance to most alkalis, acids, organic solvents, degreasing agents and electrolytic attack is also a great advantage that has fueled its use in packaging, housewares, piping, containers and automotive parts. Polypropylene is also economical to manufacture and has very good price to performance ratios which have added to its advantages.
Another major growth driver for the market has been the reusability factor of waste polypropylene products. Polypropylene is pretty much harmless to humans on exposure and does not emit toxic fumes on combustion as well. It also does not pose any chemical hazard to the environment. Due to it being a thermoplastic elastomer, it can be melted and re-used. This is cost effective process which is major plus factor for the industry which has driven the application of polypropylene resins.
Polypropylene Resin (PP) Market Challenges:
One of the challenges faced by the polypropylene resins market is the use of polypropylene resins in the foam application due to the low melt strength that is inherent in the PP resin. The foaming of PP leads to poor cell morphology, cell rupture and has limited density reduction. These disadvantages have limited the use of PP resins in the thermoplastic foaming market. There is research being done to improve the melt strength of PP resins.
The major challenge faced by the PP resins market is the polluting factor of the consumables and disposables plastics made by PP resins. Due to its major use in packaging of various consumer articles like food items there is high rate of pollution of the disposed materials in the environment that is physically hazardous to Animals, birds and marine life. Plastic account for almost 22% of the solid wastes globally, and PP resins being one of the most used materials for the manufacture of plastics holds a major share in that pollution. The issue that comes with recycling PP resin products is that the material properties, for which PP resins are preferred, degrade on being melted and recycled.
The dependence of PP resins on crude oil also poses an important challenge to the industry, as crude oil is not renewable and is expensive and volatile. Companies are trying to figure out bio-based sources for the production of Polypropylene.
Polypropylene Resin Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Polypropylene Resin market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
Polypropylene Resin Market Report: Industry Coverage
Polypropylene Resin– By Type: Homopolymer, Random Copolymer, Impact Copolymer and others.
Polypropylene Resin– By Production Technology: Spheripol, UNIPOL PP, Novolen, Innovene, Hypol, Spherizone, Borstar PP, Chisso, Sumitomo and others.
Polypropylene Resin– By Processing Methods: Extrusion, Melt-Spinning, Injection Molding, Blow-Molding, Thermoforming and others.
Polypropylene Resin– By Application Type: Packaging, Housewares, Automotive parts, Containers, Bags, sheets, Bottles, Fibers, Tapes, Films, Medical materials and others.
Polypropylene Resin Market – By End User Industry: Medical and Health Industry, Electrical and electronics Industry, Manufacturing Industries, Automotive industry, Oil and Gas Industry, Food packaging Industry, Construction Industry and others.
The Polypropylene Resin market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
Polypropylene Resin Market Key Players Perspective:
LyondellBasell, on Nov 21, 2017, announced that it agreed to purchase a 50 percent share in Quality Circular Polymers (QCP), a high standard plastics recycling company in Sittard-Geleen, Netherlands along with SUEZ a French company with expertise in waste and water management. Both companies will have a 50/50 stake in QCP. "As the circular economy increases in prominence and importance, we believe that demand for recycled materials will continue to grow," LyondellBasell CEO Bob Patel and SUEZ CEO Jean-Louis Chaussade said in a joint statement. "This acquisition combines LyondellBasell's European market presence and technical capabilities with SUEZ's ability to collect and recover waste into new materials. We believe that this new venture will provide a strategic platform for future sustainable growth."
Some of the Key players in this market that have been studied for this report include: Lyondellbasell, Sinopec, Sabic, PetroChina, Reliance Industries, Formosa Plastics, Borealis, Braskem Group, ExxonMobil, Total PC and many more.
Market Research and Market Trends of Polypropylene Resin Market
The partnering of the largest PP resin plastic producer Lyondellbasell with Karlsruhe Institute of Technology to assist in the recycling of Plastics to help global efforts towards cyclical economy and plastic waste recycling needs is major step forward for the PP resin market. With the high level of plastic pollution globally and its awareness among people, this step taken by them is sure to shift the PP resin industry towards a more eco-friendly approach by recycling PP resin plastic wastes and re-using the products.
Another major trend in the PP resin market is seen where a number companies that have been buying the production technologies being sold by W.R. Grace&Co. and Lyondellbasell. It shows an in trend in more players trying to enter the highly profitable market of PP resins.
The research being done on production of high melt strength PP resins by academia and key players alike is positive push for the market. This opens up more avenues for more applications of PP resin polymers in foams, construction and automotive. This will grow the PP resin market as its applications increase.
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