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.
Rapid Industrialization and Construction in emerging economies.
Burgeoning penetration of polypropylene resin among various end-users.
Fluctuation in petroleum prices.
Ban on single-use plastic.
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.
|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|
|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|
The global polypropylene resin market has been analyzed through the following segments:
By End-User Industry
Building and Construction
Oil and Gas
Middle East and Africa
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.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. GLOBAL POLYPROPYLENE RESIN MARKET BY PRODUCT
6. GLOBAL POLYPROPYLENE RESIN MARKET BY END-USER INDUSTRY
6.2. Building and Construction
6.4. Oil and Gas
7. GLOBAL POLYPROPYLENE RESIN MARKET BY GEOGRAPHY
7.1. North America
7.2. South America
7.3.3. United Kingdom
7.4. Middle East and Africa
7.4.1. Saudi Arabia
7.5. Asia Pacific
7.5.3. South Korea
8. COMPETITIVE INTELLIGENCE
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investments and Deals
8.3. Strategies of Key Players
9. COMPANY PROFILES
9.3. LyondellBasell Industries Holdings B.V.
9.4. Borealis AG
9.5. China Petroleum Corporation
9.6. Exxon Mobil Corporation
9.7. PetroChina Company Limited
9.8. Chevron Philips Chemical Company
9.10. LG Chem
9.11. Formosa Plastics Corporation
9.12. Saudi Polymers LLC
9.14. Sumitomo Chemical Co., Ltd.
9.15. Reliance Industries Limited
LIST OF FIGURES
LIST OF TABLES
LyondellBasell Industries Holdings B.V.
China Petroleum Corporation
Exxon Mobil Corporation
PetroChina Company Limited
Chevron Philips Chemical Company
Formosa Plastics Corporation
Saudi Polymers LLC
Sumitomo Chemical Co., Ltd.
Reliance Industries Limited
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