Homo Polypropylene or polypropylene (PP) homopolymer is widely used in the plastic processing industry to make various products for household, automotive, electrical, electronics, packaging, personal care, medical, and other applications. PP homopolymer offers a high strength to weight ratio and provides good chemical resistance and weldability. Owing to its huge application base, PP homopolymer is a large volume commodity material. The global consumption of PP homopolymer was pegged at 42.0 million metric tonnes in 2015. Sales revenue of the global PP homopolymer market is expected to register a CAGR of 5.5% over the forecast period (2016–2026).
Increasing consumption of PP homopolymer in the packaging industry and a high growth of the retail sector likely to boost market growth
Increasing consumption of PP homopolymer in the packaging industry is one of the key factors driving its demand in the global market. Characteristics such as high physical strength and chemical resistance makes PP homopolymer a material of choice for packaging applications. With the rise of the retail and e-commerce sectors, demand for high end packaging is increasing, which in turn is expected to drive the demand for PP homopolymer across the globe. In order to comply with various government and environmental regulations, automobile manufacturers around the world are focussed on decreasing carbon emissions from vehicles and PP homopolymer plays a key role here. Use of PP homopolymer in automotive applications leads to reduced weight of the vehicle, consequently increasing its fuel efficiency. In order to capitalise on the opportunities in the market, market players are introducing new grades of PP homopolymer for various new applications to increase their market share in the global market.
However, in the last few years, automobile OEMs have been switching from PP homopolymer to PP copolymer and aluminium for manufacturing specific vehicle parts as PP copolymer and aluminium provide better toughness and durability than PP homopolymer. This is likely to restrict the growth of the global PP homopolymer market over the forecast period.
By Processing Technology
By End Use
Injection Moulding processing technology segment anticipated to hold largest market value share throughout the forecast period
The injection moulding segment is projected to account for 39.4% value share in the global PP homopolymer market by 2016 end, registering a CAGR of 6.1% over the forecast period. High demand for injection moulded products for home care, personal care, appliances, and other applications is expected to be a key reason for the segment’s growth through 2026.
Packaging end use segment likely to dominate the global PP homopolymer market throughout the forecast period
The packaging segment dominated the global PP homopolymer market in 2015 and the segment is forecast to exhibit a CAGR of 6.0%. Increasing consumption of PP homopolymer – particularly for flexible packaging used in the food and beverage industry – is expected to fuel the growth of this segment.
APEJ estimated to dominate the global PP homopolymer market in terms of value
The APEJ PP homopolymer market is estimated to represent 38.9% value share in the global PP homopolymer market by the end of 2016, and this regional market is expected to increase at a value CAGR of 5.8% over the forecast period. The MEA homopolymer market is anticipated to register a CAGR of 5.4% during the forecast period.
Leading market players are focussing on increasing global market presence through new product launches and strategic joint ventures and partnerships
LyondellBasell Industries, Braskem S.A., The Dow Chemical Company, Reliance Industries Limited, L.C.Y. Chemical Corporation, Total Petrochemicals USA Inc., IRPC Public Company Limited., Sasol Limited., National Petrochemical Industrial Company, and The Polyolefin Company (Singapore) Pte Ltd. are some of the top companies operating in the global PP homopolymer market. Some of these companies are focussed on launching new PP homopolymer grades for various applications to increase their brand value. Top companies are also expanding their production capacities to strengthen their product portfolio and grab a larger share of the global PP homopolymer market.
Future Market Insights offers a 10-year forecast for the global polypropylene (PP) homopolymer market in a new publication titled “PP Homopolymer Market: Global Industry Analysis and Opportunity Assessment, 2016-2026”. Our study demonstrates key market dynamics and trends across regions that are expected to influence the current status and future prospects of the global PP homopolymer market over the forecast period (2016 – 2026). The primary objective of this report is to provide information on key drivers, restraints, trends, opportunities, regulations, value chain analysis, and updates on developments in the global PP homopolymer market; and conduct a quantitative as well as qualitative assessment of the market across various regional market segments.
To understand and assess market opportunities and trends, the global PP homopolymer market report is categorically split into three different sections based on market segmentation - by processing technology, by end use, and by region. The report starts with the market overview and provides market definition and analysis of the value chain, pricing, drivers, restraints, and opportunities in the global PP homopolymer market. The sections that follow include global market analysis - by processing technology, end use, and region. All these sections evaluate the qualitative and quantitative aspects of the global PP homopolymer market on the basis of various factors affecting the market. To give a brief idea of revenue opportunities from processing technology, end use, and region/country-wise segments, the report also provides volume (KT) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period.
In the final section of the report, we have provided the global PP homopolymer market structure and a detailed competition landscape with company market share and performance to provide report audiences with a dashboard view of key players operating in the global PP homopolymer market along with their long-term and short-term business strategies.
For market data analysis, we have considered 2015 as the base year, with market numbers estimated for 2016 and a comprehensive forecast made for 2017–2026. To calculate market size, the report considers the weighted average price of PP homopolymer based on product grades available for various processing technologies across key geographies on a regional basis. The forecast assesses the total revenue as well as volume (KT) of the global PP homopolymer market. In order to provide an accurate forecast, we have started by sizing up the current market, which forms the basis of how the global PP homopolymer market is expected to develop in the future. Critical market data – including the base number and segment splits - has been derived through in-depth secondary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers and industry experts operating in the global PP homopolymer market.
Given the ever-fluctuating nature of the global economy, we have not only conducted forecasts in terms of CAGR, but have also analysed the market based on key parameters such as year-on-year (Y-o-Y) growth rate to understand market predictability and to identify the right opportunities across the global PP homopolymer market. We have also analysed the different segments of the global PP homopolymer market in terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global PP homopolymer market. Another important feature of our report is an analysis of all the key segments in terms of absolute dollar opportunity, critical in evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective in the global PP homopolymer market. The overall absolute dollar opportunity along with the segmental split is mentioned in our report. Further, to understand key market segments in terms of growth and performance, we have developed the global PP homopolymer market attractiveness index to help providers identify real market opportunities in the global PP homopolymer market.