Global Polypropylene Homopolymer Market | | Progressive Growth In Upcoming Year
Polypropylene
Homopolymer Market: Overview
Polypropylene is a
thermoplastic polymer, which is used in various applications. It is
produced by the combination of propylene monomer with catalysts. It
is primarily employed in the packaging industry for consumer
products, food containers, cosmetic products, and beverages.
Polypropylene is also used in the manufacture of plastic parts, car
bumpers, and dashboards in the automotive industry.
Polypropylene
Homopolymer Market: Drivers & Restraints
Homopolymers, also
known as polypropylene homopolymers, are the widely used types of
polypropylene. They provide high strength-to-weight ratio and are
stiffer than copolymers. Excellent chemical resistance enables the
usage of polypropylene homopolymers in various corrosion resistant
structures. Increase in demand for polypropylene in automotive and
medical industries in Asia Pacific is expected to fuel the
homopolymers market during the forecast period.
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Polypropylene
homopolymer is widely used in the manufacture of various products for
household, automotive, electrical, electronics, packaging, personal
care, medical, and other applications in the plastic processing
industry. Polypropylene homopolymer offers high strength-to-weight
ratio and good chemical resistance and weldability. Owing to its vast
application base, PP homopolymer is a large volume commodity
material. Increase in consumption of PP homopolymer in the packaging
industry and expansion in the retail sector are estimated to boost
the market during the forecast period.
Polypropylene
Homopolymer Market: Key Segments
Based on type, the
polypropylene homopolymer market can be segmented into injecting
molding, film & sheet, fiber, extrusion, blow molding and others.
Consumption of polypropylene homopolymer in the blow molding
application has been rising due to the increase in demand for
packaged food and beverages in emerging countries. Polypropylene is
majorly used in the blow molding application due to its ability to
withstand elevated temperatures. It can be easily steam sterilized
and has high melting point. Its common applications include water
bottles, shampoo bottles, and lubricant/pesticide containers.
In terms of end-use
industry, the polypropylene homopolymer market can be divided into
packaging, electrical & electronics, textile, automotive,
building & construction, medical, and others. The packaging
segment is expected to dominate the global polypropylene homopolymer
market. Rise in consumption of polypropylene homopolymer,
particularly in flexible packaging applications, is expected to boost
the packaging segment.
Polypropylene
Homopolymer Market: Regional Outlook
In terms of region,
the global polypropylene homopolymer market can be segregated into
North America, Latin America, Europe, Asia Pacific, and Middle East &
Africa. North America is expected to account for key share of the
polypropylene homopolymer market in the near future. This can be
ascribed to the well-developed application segments such as
packaging, automobile, textile, and others; and large presence of PP
homopolymer manufacturers in the region. The market in Europe is
anticipated to expand at a remarkable pace from 2018 to 2026, due to
increase in consumption of polypropylene homopolymers in the
automotive industry and rise in the demand for these homopolymers in
the construction industry in the region. The market in Asia Pacific
is projected to expand at a rapid pace in terms of revenue, owing to
the increase in adoption of polypropylene homopolymers in health care
and automobile sectors in emerging economies in the region. Latin
America and Middle East & Africa also account for significant
share of the global polypropylene homopolymer market. This can be
ascribed to increase in demand for PP homopolymers in various end-use
industries in these regions.
Polypropylene
Homopolymer Market: Key Players
Prominent players
operating in the global polypropylene homopolymer market are
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.
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