The polypropylene-resin market is anticipated to grow at a significant CAGR of 8.9% during the forecast period (2022-2028). Polypropylene resins are made with heat and can be reshaped. During this process, it does not lose its characteristics. They are different from thermo sets as they are completely changed once they undergo a particular hardening process. Thermoplastics can be used even after changing their form with heat and are recyclable. Polypropylene resins are a type of thermoplastic polymers and some other types in the category of thermoplastics are polyethylene, polyvinyl chloride, and many more. It is the second most used synthetic polymer globally after polyethylene. Moreover, polypropylene is also economical to manufacture and has very good price to performance ratios which have added to its advantages. Polypropylene-resin has the characteristic that it can be used in making transparent items whereas its closest competitor polyethylene can be used in making translucent materials. Two types of Polypropylene–resin which are Polypropylene homopolymers and polypropylene copolymers are widely used in the present times as they make up a majority of polypropylenes–resin. It is used in food packaging as it is a low-cost material.
A full report of Global Polypropylene-resin Market is available at:https://orionmarketreports.com/global-polypropylene-resin-market/109570/
Moreover, rising approval of Polypropylene–resin as a safe plastic that can be used to store food is expected to drive the market during the forecast period. For instance, in Sep 2020, As per an article published in Health line, Environmental Protection Agency and Food and Drug Administration have approved polypropylene–resin as a material that can be used in contact with food. This is also a form of plastic and is considered safest among all others.
Some major players in the market include China Petro chemical Corp., Sabic Limburg B.V., Reliance Industries Ltd., Formosa Plastics Corp. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in Nov 2021, there was an agreement between Berry Global and Pure cycle in which Pure cycle would provide berry global with polypropylene resin which is recycled. This agreement comes in a list of recycling material exchanges between companies. By the year 2025, Berry global ha sestimated that they would have access to around 600 million lbsof recycled plastic material. The company is specific about designs implementation and has a good practice in recycling technology.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- By End-User Industry
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Lyondellbasell, China Petrochemical Corp., Sabic Limburg B.V., Reliance Industries Ltd., Formosa Plastics Corp, and Others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Polypropylene-Resin Market Report by Segment
By Type
- Homopolymer
- Random Copolymer
- Impact Copolymer
- Others
By Application
- Food Packaging
- Automotive Parts
- Fibers
- Medical Materials
- Others
By End-User Industry
- Healthcare
- Electrical and Electronics
- Manufacturing
- Automotive
- Oil and Gas
- Food Packaging
- Others
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