Press Release / Business / Polypropylene Market Global Opportunity, Share, Size, trends, by 2023

Polypropylene Market Global Opportunity, Share, Size, trends, by 2023

Polypropylene Market Overview:
Polypropylene are a lucrative market and is expected to have a steady growth during the forecast years. Polypropylene (PP) is a thermoplastic material used for the manufacturing of molded materials or fibers. The advantages such as enhanced stiffness, flexibility and light weight paves the way for polypropylene into wide range of end-user industries. Polypropylene finds its application in wide range of end user industries such as agriculture, automotive, construction, electrical and electronics, and packaging among others. The global polypropylene market is segmented into end user industries and regions. Among the various end user industries automotive is the dominant segment and is expected to retain its dominance during the forecast years.
The growing use of polypropylene to reduce the weight of automobiles is significantly adding to the growth of the market. Moreover, the packaging segment is expected to witness burgeoning growth during the forecast years owing to the properties of polypropylene such as high tensile strength and its ability to withstand extreme conditions.
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Polypropylene Market Key Players:
The Dow Chemical Company (U.S.), LyondellBasell (U.S.), Exxon Mobil Corporation (U.S.), SABIC (Saudi Arabia), INEOS (Switzerland.), LANXESS (Germany), Chevron Phillips Chemical Company (U.S.), Eni S.p.A. (Italy), BASF SE (Germany), and LG Chem (South Korea) among others are some of the prominent players at the forefront of competition in the global Polypropylene Market and are profiled in MRFR Analysis.
Polypropylene Market Segmentation:
The global recycled polypropylene market has been segmented on the basis of process, source, end-use, and region.
By process the global recycled polypropylene market has been segmented into mechanical and chemical.
Based on source, the global recycled polypropylene market has been segregated into bottles, films, bags, foams, industrial and agricultural waste, and others.
On the basis of application, the market is categorized into packaging, automotive, building & construction, textiles, medical, electronics, and others.
Polypropylene Market Regional Analysis:
The major regions in the global recycled polypropylene market are Asia Pacific, North America, Europe, The Middle East & Africa, and Latin America. North America is the largest market in this market. It held nearly 37% share of the market in 2017. This is mainly attributed to the robust growth in technology and awareness pertaining to the plastic waste. In addition, the strict regulatory environment has hindered the production of new plastic materials and has induced the recycling of plastic waste from household, agriculture and industry. This is likely to favor the growth of the regional market for the recycled polypropylene.
Moreover, there is growing demand for the recycled packaging materials in packing food and medical items to limit the solid waste pollution and meet the sustainability demand. Moreover, increasing automotive production is expected to fuel demand for the product in various automotive parts. Europe is closely following the North American market owing the similar regulatory environment against the solid waste, mainly from the plastic materials. The countries namely, UK, Germany, France, Italy, Belgium, the Netherlands, and Switzerland are at the forefront of plastic recycling and its use. Growing demand from the major end-users such as food packaging, automotive, medical packaging, and consumer goods and high technical know-how in this region is anticipated to favor the market growth during the forecast period.
Polypropylene Market Table of Content:
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Polypropylene Market
Polypropylene Market Table of Content to be Continue…….,
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