According to the latest report by IMARC Group, titled “Polypropylene Copolymer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached 25.2 Million Tons in 2018, growing at a CAGR of around 4% during 2011-2018. Polypropylene is an economical material known for its optimal thermal, mechanical, electrical and physical properties. It is available in two types, namely, polypropylene copolymer (PPCP) and polypropylene homopolymer (PPH). Wherein, PPCP is a type of plastic which is formed by polymerizing propylene in the presence of a monomer and catalyst. It is more durable, tougher and slightly softer than homopolymer and, therefore, offers improved impact strength. It also provides better stress crack resistance and low-temperature toughness. PPCP can further be divided into block copolymers and random copolymers, which are produced by the polymerization of ethane and propane. Amongst these, random copolymers are ideal for applications that require transparency or an excellent appearance as they are flexible and optically transparent. Whereas, block copolymers are suitable for high strength applications as they are less brittle and more robust.
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Global Polypropylene Copolymer Market Trends:
Currently, the market for PPCP is being driven by its various favorable properties such as non-toxic and non-hazardous effect on ingestion and inhalation, and low toxicity to aquatic organisms. In addition, the packaging industry is witnessing steady growth on a global scale with the availability of lightweight, cost-effective and higher performance plastic materials. This has led to a rise in the overall demand for PPCP. Besides, these copolymers are also used for various medical applications, which include the production of medical and surgical equipment such as injection molds and medicine bottles. Further, over the past few years, there has been a rise in the usage of PPCP for the production of different types of automotive parts, including bumpers and dashboards. Other than this, PPCP also plays a vital role in building and construction, electrical and electronics, and food and beverages, which is, in turn, having a positive impact on market growth. On account of these factors, the market is expected to witness moderate growth in the demand for PPCP over the forecast period (2019-2024).
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Market Summary:
- The report has analyzed the market according to the end use which mainly includes rigid packaging, textiles, technical parts, films and consumer products. Amongst these, PPCP is majorly used as a raw material for the production of rigid packaging.
- On the geographical front, Asia Pacific represents the biggest market for PPCP, holding the majority of the total market share. This can be attributed to rapid advancements made in the packaging industry. Other major regions include North and South America, Western and Central Europe, and Middle East and Africa.
- The competitive landscape of the market has also been examined with some of the key players being LyondellBasell, Sinopec Group, Braskem Group, SABIC, and PetroChina Group.
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