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Polypropylene Random Copolymers Market

Polypropylene Random Copolymers Market By Application (Blow Film, Blow Molding, Injection Molding, Extrusion Molding), End Use (Medical Packaging, Food Packaging, Consumer Products) & Region - Forecast 2022 - 2032

Market Insights on Polypropylene Random Copolymers covering sales outlook, demand forecast & up-to-date key trends

Polypropylene Random Copolymers Market Overview

The global polypropylene random copolymers market was worth US$ 8.3 Billion in revenue in 2021, and it is expected to grow at a CAGR of 5.8% between 2022 and 2032. As of 2022, the market is expected to be valued at US$ 8.8 Billion, projected to reach US$ 15.46 Billion.

Report Attribute

Details

Expected Base Year Value (2021)

US$ 8.3 Billion

Projected Market Value (2022)

US$ 8.8 Billion

Anticipated Market Value (2032)

US$ 15.46 Billion

Global Growth Rate (2022-2032)

5.8% CAGR

The expanding non-woven polypropylene fiber industry, as well as the increasing use of polypropylene in the packaging industry, are the major factors driving the market growth.

Polypropylene random copolymers are created by modifying the fundamental structure of polypropylene with another monomer molecule. The most common monomer used is ethylene. In the polymer chain, ethylene molecules are introduced at random between the propylene molecules. The addition of ethylene alters the physical properties of polypropylene.

Random copolymer polypropylenes are used in blow molding, injection molding, and extrusion molding applications that require improved clarity and dimensional stability. They're found in medical packaging, food packaging, and consumer goods.

Which are Some Prominent Drivers Spearheading Polypropylene random copolymers Market Growth?

The introduction of newer application areas, the development of bio-based polypropylene, and the substitution of various other materials all contribute to the global polypropylene random copolymers market's high growth potential.

In 2020, the global polypropylene market was impacted by falling demand for polypropylene. The emergence of new market opportunities, such as polypropylene gloves, nonwoven polypropylene for N95 masks, and polypropylene plungers in the medical industry, drove market growth.

Aside from that, the falling crude oil price created opportunities for low-cost polypropylene production; however, production was hampered due to plant shutdowns and disruptions in the supply chain. The market is currently recovering as a result of the widespread acceptance of polypropylene in the packaging industry, and it is expected to grow significantly in the coming years.

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What are the Challenges Faced by the Polypropylene Random Copolymers Industry?

The demand for plastics from various end-use industries decreased in 2020 as a result of COVID-19. The pandemic, combined with falling crude prices, has drastically altered the chemical production dynamics. As a result of the implementation of lockdown in various countries, production plants were shut down in order to slow the spread of the disease.

How is Europe Contributing to Growth of the Polypropylene random copolymers Market?

In the forecast period, the global market share of Western European polypropylene random copolymers is expected to fall from around 14 percent to around 11.5%. The decline is primarily the result of a moderate increase in demand in only the largest national markets, such as Germany, France, and Italy. Eastern Europe is expected to expand rapidly, particularly in the Russian packaging sector.

Nikhil Kaitwade
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Why is Asia-Pacific Emerging as an Opportunistic Polypropylene random copolymers Market?

Asia Pacific's polypropylene random copolymer industry, led by China, India, and Japan, has dominated global demand in the past and is expected to grow at a rate of more than 5.7% over the forecast period.

The major factor contributing to overall business growth by 2032 is the improvement of consumer lifestyles, increased consumer spending, and the emergence of a middle-class population in China and India. The regional industry is also fueled by a thriving food and beverage industry, which has resulted in business growth packing applications.

Market Competition

Some of the major players identified in the global polypropylene random copolymer market are LyondellBasell Industries, Braskem, China Petroleum; Chemical Corporation (Sinopec), Total S.A., Entec Polymers, ExxonMobil, Sasol, Chevron Corporation, Royal Dutch Shell, ConocoPhillips, Borealis, Formosa Plastics Group, Reliance Industries, and SABIC etc.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 3% until 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Type
  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Segments Covered in the Polypropylene Random Copolymers Market Report

Application:

  • Blow Film
  • Blow Molding
  • Injection Molding
  • Extrusion Molding

End Use:

  • Medical Packaging
  • Food Packaging
  • Consumer Products

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global Polypropylene random copolymers market to expand at a 5.8% value CAGR by 2032

Asia Pacific is expected to be the most opportunistic Polypropylene random copolymers market, expanding at a 5.7% CAGR

China Petrochemical, LyondellBasell Industries Holdings, Reliance Industries, Total, Borealis, Entec Polymers, Exxon Mobil, Formosa Plastics, HYOSUNG, Indian Oil Corporation, Japan Polypropylene Corporation, LOTTE CHEMICAL CORPORATION, MOLGROUP, NATPET, Petro Plus, Pinnacle Polymers, Prime Polymer, SABICare some prominent polypropylene random copolymers manufacturers.

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Nikhil Kaitwade
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Polypropylene Random Copolymers Market