PP Homopolymer Market

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Coherent Market Insights

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PP HOMOPOLYMER MARKET ANALYSIS 

• PP Homopolymer Market, By Process Technology
  (Injection moulding, Film, Other extrusion,
  Fibers, Others), By End Use (Packaging (Flexible
  Packaging, Rigid Packaging), Automotive, Consumer
  Product, Textile Industry, Electrical and
  Electronics, Building and Construction, Others),
  and By Region (North America, Latin America,
  Europe, Asia Pacific, Middle East Africa) -
  Size, Share, Outlook, and Opportunity Analysis,
  2020 - 2027

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PP homopolymer is majorly used in the plastic
manufacturing industry to produce various
household, electrical, automotive, packaging,
medical, and other products that incorporate
plastic. This polymer provides high strength to
weight ratio and better chemical resistance. The
packaging industry is the largest consumer of the
PP homopolymer as it has high strength and
excellent chemical resistance which makes it an
ideal choice of packaging material.The global PP
homopolymer market is projected to
surpass US 72.0 billion by the end of 2027, in
terms of revenue, growing at CAGR of 5.5 during
the forecast period (2020 to 2027).

• Drivers
• Rising demand for PP homopolymer from the
  automotive industry as it offers advantages such
  as weight reduction, cost reduction, and improve
  the overall fuel efficiency is expected to
  augment the market growth. PP homopolymer is
  widely used in the manufacturing of interior and
  exterior components of automobiles that reduce
  the overall weight of the vehicle. According to
  the Coherent Market Insights analysis, it is
  estimated that a 10 reduction in vehicle weight
  reduces fuel usage by 5 to 10.
• Increasing use of PP homopolymer from the
  electrical industry for manufacturing various
  electronic products is expected to foster the
  market growth of the PP homopolymer. The growth
  of the PP homopolymer market is also attributed
  to the growth of the electrical industry due to
  the growing demand for various high-end
  electronic products. Its high electrical
  resistance property makes it ideal for electronic
  devices. Hence, the growing demand for PP
  homopolymer from the electronic industry is
  expected to augment the market growth over the
  forecast period.
• Regionally, Asia-pacific dominated the global PP
  homopolymer market in 2019, reporting 49 market
  share in terms of revenue, followed by Europe and
  North America, respectively.

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Figure 1. Global PP Homopolymer Market, Revenue
Share (), By Region, 2019
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Market Restraints

• Stringent government policies for the
  manufacturing of the PP homopolymer due to rising
  environmental concerns is expected to hamper the
  market growth.
• High production cost due to fluctuating prices of
  raw material is expected to restrict market
  growth. This is attributed to the volatile price
  and production of crude oil due to various
  economic factors.

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Market Opportunities

• Market Opportunities
• Increasing use of PP homopolymer in the injection
  mold technology which is used for the production
  of various household products is expected to
  provide potential growth opportunities to the
  market. Injection mold technology is widely used
  in the manufacturing of personal care,
  appliances, and other various home care products.
  Therefore, increasing use of PP homopolymer in
  the injection mold technology is expected to
  augment the market growth.
• An increasing application of PP homopolymer in
  the flexible packaging will favor the market
  growth of the PP homopolymer over the forecast
  period. Flexible packaging is gaining huge demand
  from the food and beverage packaging industry
  where it is used to package the food product.
  Also, the growing e-commerce industry is boosting
  demand for packaged products which is further
  expected to foster the market growth of the PP
  homopolymer over the forecast timeframe. 

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Figure 2. Global PP Homopolymer Market
Opportunity Analysis
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 Market Trends 

• Rising demand for PP homopolymer from the textile
  industry where it is used to manufacture various
  appeals is expected to stimulate market growth.
  The growing trend of health wellness is creating
  demand for sportswear for both men and women.
  This is expected to fuel market growth. In
  addition to this, it is also used in the
  manufacturing of cold weather undergarments and
  military wear which is again augmenting the
  market growth of the PP homopolymer.
• Improving lifestyle of the consumers due to
  growing disposable income is increasing their
  purchasing power which is creating demand for
  various consumer goods is expected to augment the
  market growth of PP homopolymer. Growing demand
  for luxury carpets coupled with the other home
  interior products is further expected to augment
  the market growth of the PP homopolymer over the
  forecast period.
• homopolymer over the forecast period.
• Regulations
• APEJ 
• Various environmental concerns, associated with
  the production of PP Homopolymer, have forced the
  government to promote biodegradable especially in
  packaging segments. The government and
  associations of developing countries of Asia such
  as Indonesia in March 2009 has raised traffic
  rates for imports from non-ASAN countries
  (excluding China, Korea, and Japan) of
  polypropylene compound (PP homopolymer).

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• Figure 3. Global PP Homopolymer Market, Revenue
  Share (), By End Use, in 2019

On the basis of end use, packaging dominated the
global PP homopolymer market in 2019 with
around 43 of market share in terms of revenue,
followed by automotive and textile, respectively.
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• Global PP Homopolymer Market - Impact of
  Coronavirus (Covid-19) Pandemic
• Due to an unprecedented decline in the sales of
  automotive and electronics products due to
  COVID-19, the plastics industry has been one of
  the hardest hit industry worldwide. Owing to
  decrease in demand globally, the prices trend of
  PP homopolymer products has been showing a
  declining trend from past few months across the
  globe owing to sudden holds put on the buying of
  these products amidst the coronavirus (Covid-19)
  Pandemic. This scenarios is expected to hinder
  the CAGR of the market till the early months of
  2021.
• Competitive Section
• Key players are operating in the global PP
  homopolymer market are LyondellBasell Industries
  Holdings B.V., Reliance Industries Limited,
  Braskem SA, INEOS Group Ltd., ExxonMobil
  Corporation, 6. Borealis AG, Total S.A., Sasol
  Limited, IRPC Public Company Limited., National
  Petrochemical Industrial Company, The Polyolefin
  Company (Singapore) Pte Ltd., and L.C.Y. Chemical
  Corporation
• Few Recent Developments
• Braskem SA
• In October 2019 Braskem the producer of
  polyolefins producer in the Americas and producer
  of biopolymers in the world, today formally
  launched its new I'm green Recycled
  polypropylene (PP) in the United States.

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