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Polypropylene Resin Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Product (Sheets, Films, Pipes, Others), By End-User Industry (Packaging, Building, And Construction, Oil And Gas, Automotive, Healthcare, Others), And By Geography - Forecasts From 2019 To 2024

Published: Apr 2021 | Report Code:  KSI061612534 | Pages:  120

The global polypropylene resin market is projected to grow at a CAGR of 6.04% to reach US$109.055 billion in 2024 from US$76.694 billion in 2018. Polypropylene is a hugely versatile plastic due to its low cost, durability, and excellent tolerance of both chemical substances and high temperature. The growth in polypropylene consumption is mainly driven by a combination of rapid economic development in emerging economies and steady growth in mature economies. Burgeoning demand for a number of PP products from end-user industries such as automotive, packaging, healthcare and etc. is augmenting the polypropylene resin market growth. Thus, the market is expected to grow at a substantial rate over the forecast period owing to the number of investments related to capacity expansion taking place in order to meet the growing demand from various industry verticals.

DRIVERS

Rapid Industrialization and Construction in emerging economies.
Burgeoning penetration of polypropylene resin among various end-users.

RESTRAINTS

Fluctuation in petroleum prices.
Ban on single-use plastic.

INDUSTRY UPDATE

In March 2019, ExxonMobil announced to construct a polypropylene plant in the Baton Rouge facility, Louisiana in order to increase the production capacity in the Gulf Coast area by 450,000 tons annually.
In January 2019, Nayara Energy invested $850 million to expand into the petrochemical business by setting up a polypropylene plant in Gujarat.

The major players profiled in the global polypropylene resin market include SABIC, Braskem, LyondellBasell Industries Holdings B.V., Borealis AG, China Petroleum Corporation, Exxon Mobil Corporation, PetroChina Company Limited, Chevron Philips Chemical Company, INEOS, LG Chem, Formosa Plastics Corporation, Saudi Polymers LLC, Tasnee, Sumitomo Chemical Co., Ltd., and Reliance Industries Limited among others.

Polypropylene Resin Market Scope:

Report Metric Details
 Market size value in 2018  US$76.694 billion 
 Market size value in 2024  US$109.055 billion
 Growth Rate  CAGR of 6.04% from 2018 to 2024
 Base year  2018
 Forecast period  2019–2024
 Forecast Unit (Value)  USD Billion
 Segments covered  Product, End-User Industry, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered SABIC, Braskem, LyondellBasell Industries Holdings B.V., Borealis AG, China Petroleum Corporation, Exxon Mobil Corporation, PetroChina Company Limited, Chevron Philips Chemical Company, INEOS, LG Chem, Formosa Plastics Corporation, Saudi Polymers LLC, Tasnee, Sumitomo Chemical Co., Ltd., Reliance Industries Limited
 Customization scope  Free report customization with purchase

 

Segmentation

The global polypropylene resin market has been analyzed through the following segments:

By Product

Sheets
Films
Pipes
Others

By End-User Industry

Packaging
Building and Construction
Automotive
Oil and Gas
Healthcare
Others

By Geography

North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others


Frequently Asked Questions (FAQs)

Q1. What will be the polypropylene resin market size by 2024?
A1. The global polypropylene resin market is projected to reach a market size of US$109.055 billion by 2024.
 
Q2. What is the size of global polypropylene resin market?
A2. Polypropylene Resin market was valued at US$76.694 billion in 2018.
 
Q3. What are the growth prospects for polypropylene resin market?
A3. The global polypropylene resin market is projected to grow at a CAGR of 6.04% over the forecast period.
 
Q4. Who are the major players in the polypropylene resin market?
A4. The major players profiled in the global polypropylene resin market include SABIC, Braskem, LyondellBasell Industries Holdings B.V., Borealis AG, China Petroleum Corporation, among others.
 
Q5. What factors are anticipated to drive the polypropylene resin market growth?
A5. The growth in polypropylene consumption is mainly driven by a combination of rapid economic development in emerging economies and steady growth in mature economies.

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