Factors such as the surging use of polypropylene in the packaging sector and the booming nonwoven polypropylene fiber sector are expected to drive the polypropylene market at a 5.7% CAGR during 2020–2030. According to P&S Intelligence, the market was valued at $94.3 billion in 2020, and it will generate $165.6 billion revenue by 2030. The increasing use of polypropylene in the packaging sector can be credited to the boom in the sector, owing to the burgeoning demand for food and beverage and industrial packaging.
One of the prominent growth drivers of the market is the flourishing nonwoven polypropylene fiber sector. In contemporary years, polypropylene staple fibers are being increasingly used in needle punch durables, which are used in the production of coating substrates, geotextiles, blankets, vehicle components, bedding, indoor and outdoor carpets, and upholstered furnishing. Additionally, nonwoven propylene fiber is also used in hygiene and medical applications, such as adult diapers, infant diapers, feminine hygiene pads, and toddler training pads.
In 2020, the homopolymer category, within the type segment, accounted for the largest share in the polypropylene market. This was on account of the higher strength-to-weight ratio of homopolymer polypropylene, as compared to other types of polypropylene. Additionally, the excellent weldability and chemical resistance of homopolymer polypropylene will also contribute to the market growth in this category. Due to these factors, the category will also retain its market dominance during this decade.
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Furthermore, the packaging category, within the end user segment held the largest share in the polypropylene industry in 2020, and it is also expected to retain the lead in the coming years. This can be owed to the extensive use of polypropylene in the food and beverage sector, which uses this plastic for packaging. As this plastic is a rugged polymer, it is considered a safe option for numerous food packaging containers, such as thermoformed trays, thermoformed pots, and injection-molded pots.
In recent years, players in the polypropylene industry have actively focused on product launches to stay ahead of their competitors. For example, in April 2021, Sulzer Ltd. and Borealis AG introduced a novel polypropylene foam extrusion technology, which improves efficiency across the value chain. In the same vein, in April 2021, Braskem S.A. unveiled carbon-fiber-reinforced polypropylene filament for additive manufacturing. This lightweight, rigid filament is ideal for sports, aerospace, automotive, and marine applications.
Globally, the APAC polypropylene market generated the highest revenue in 2020, and it is also expected to retain its lead throughout this decade. This can be ascribed to the increasing consumption of electrical components and flexible food packaging materials in China. In addition, the rising government expenditure on R&D of new propylene applications will also facilitate the demand for polypropylenes in the region. Moreover, the presence of numerous key players will also supplement the market growth in APAC countries.
Thus, the booming nonwoven polypropylene sector and the escalating demand for food packaging materials will facilitate the market growth, globally.
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Polypropylene Market Size Breakdown by Segments
By Type
- Homopolymer
- Copolymer
- Random
- Block
By Application
- Injection Molding
- Film & Sheet
- Raffia
- Fiber
- Blow Molding
By End Use
- Packaging
- Electrical
- Medical
- Consumer Goods
- Automotive
- Construction
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- France
- U.K.
- Spain
- Poland
- Belgium & Luxembourg
- Netherlands
- Russia
- Asia-Pacific
- China
- India
- Korea
- Japan
- Thailand
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East and Africa
- Saudi Arabia
- U.A.E.
- Turkey
- Iran
- Africa
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