Polypropylene Random Copolymers Market Trends

  • Report ID: 4309
  • Published Date: Nov 08, 2024
  • Report Format: PDF, PPT

Polypropylene Random Copolymers Market Trends

Growth Drivers

  • Growing Demand for Plastic Products – Polypropylene random copolymer is extensively used in the manufacture of transparent, robust, and aesthetic plastic products such as storage containers and sports bottles. They are flexible, lightweight, optically clear, odor-free, and heat-resistant which makes them perfect glass and other plastic products. In the year 2019, around 350 million metric tons of plastics were produced globally leading to the expansion of the market in the upcoming years.
  • Rise in the Pharmaceutical Sector – Polypropylene random copolymer is significantly being used in the manufacturing of several pharmaceutical products also in packaging applications which is expected to drive the expansion of the polypropylene random copolymers market in the estimated period. Polypropylene random copolymer is widely used by manufacturers for bottling complex pharmaceutical products due to its purity, transparency, inert properties, lightweight, and durability. Additionally, the demand for pharmaceutical packaging and the adoption of polypropylene random copolymer is increasing due to factors such as growing pharmaceutical applications, contract manufacturing in APAC, and an aging population.
  • Increasing Use for Making Plastic Parts in the Automotive Industry – Polypropylene random copolymer is a durable lightweight, heat-resistant resin used to make plastics that are used in the automotive industry for making several automotive vehicles and parts. For instance, over 78 million motor vehicles were manufactured globally in 2021 which rose by 2% than last year.

Challenges

  • Limited High-Temperature Application – Owing to the presence of polypropylene, the polypropylene random copolymer has a very limited high-temperature application. It is so, s polypropylene is a very flexible, soft material with a low melting point, which begins to melt as a result of the CNC cutter’s heat. Hence, such a factor is anticipated to restrain market growth in the coming years.
  • High Flammability of Polypropylene Random Copolymers
  • Fluctuating Crude Oil Prices

Polypropylene Random Copolymers Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~6%

Base Year Market Size (2022)

~ USD 9 Billion

Forecast Year Market Size (2035)

~ USD 15 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Base Year

2024

Forecast Year

2025-2037

CAGR

4.5%

Base Year Market Size

USD 10.34 billion

Forecast Year Market Size

USD 18.32 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Author Credits:  Rajrani Baghel


  • Report ID: 4309
  • Published Date: Nov 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of polypropylene random copolymers is assessed at USD 10.71 billion.

The polypropylene random copolymers market size was over USD 10.34 billion in 2024 and is projected to reach USD 18.32 billion by 2037, witnessing around 4.5% CAGR during the forecast period i.e., between 2025-2037. The growing demand in the automotive sector and increasing use in the construction industry will drive the market growth.

Asia Pacific industry is anticipated to account for largest revenue share of 33% by 2037, backed by increasing customer base along with advancement in the food & beverage industry in this region.

The major players in the market include LyondellBasell Industries N.V., China Petrochemical Corporation (SINOPEC), Entec Polymers, Braskem SA, Exxon Mobil Corporation, Chevron Corporation, Sasol Limited Shell International B.V., Saudi Basic Industries Corporation (SABIC), Borealis AG
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