The PP homopolymer market is growing with a healthy CAGR of 4.8%,

The PP homopolymer market is growing with a healthy CAGR of 4.8%,

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NEWARK, Del, September 16, 2022 (GLOBE NEWSWIRE) — The global PP homopolymer market is forecast to be worth US$98,431.4 Mn by 2032, with the market growing at an average CAGR of 4. 8% over the forecast period of 2022 to 2032. Growing from an estimated US$61,591.5 Mn in 2022, the PP homopolymers market is driven by increased demand for the product from the packaging, textile and electronics industries. The extensive use of PP homopolymer in the packaging industry coupled with ever-expanding e-commerce will increase sales of the product in the international market.

In recent years, there has been a remarkable increase in the adoption of PP homopolymer in the construction, automotive, and electrical industries due to its high strength, improved chemical resistance, and weldability. The growing need for high-end packaging in the retail sector is also contributing to the consumption of high-quality polymers, which in turn is driving the growth of the PP homopolymer market.

Leading the market growth for PP homopolymer are flexible packaging for clothing, food and other products, along with small to medium sized hard storage containers used in consumer products. In addition, more and more consumers buy products from companies online, driving the growth of the e-commerce market, which in turn substantially improves the market prospects for PP homopolymer. In addition to all this, the target market also takes advantage of several profitable opportunities in the automotive sector.

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Polypropylene homopolymer or PP homopolymer help in weight reduction, cost reduction and innovation regarding interior and exterior product design in automobiles. Polypropylene homopolymer is also resistant to corrosion and scratches, which increases the range of applications in the automotive sector. All of these factors bode well for the future possibilities of the PP homopolymer market during this projected period.

“Growing adoption of PP homopolymer in the packaging and automobile industry is expected to drive the growth of the same market during the forecast period,” says an IMF analyst.

Key takeaways:

  • The growing retail and e-commerce industry is likely to strengthen the market outlook.
  • The PP homopolymer market in China is driven by huge demand from the packaging industry.
  • The United States is expected to acquire 13.7% of world market shares.
  • In terms of processing technology, injection molding will have a share of around 39.6% of market sales.
  • Packaging industry to account for 42.3% of the global market share.

competitive landscape

LyondellBasell Industries NV, Reliance Industries Limited., Braskem SA, INEOS Group Ltd., ExxonMobil Corporation, Borealis AG, Total Petrochemicals USA Inc., Sasol Limited, IRPC Public Company Limited, National Petrochemical Industrial Company, Polyolefin Company, LCY Chemical Corporation and others are some of the major players in the PP homopolymer market that are profiled in the full version of the report.

The main players in the market are concentrating on the adoption of alternative distribution channels and on innovation within the value chain. These companies focus on sustainability and expanding their manufacturing facilities to improve their presence in the international market.

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More information about PP homopolymer Market Report

In its latest report, FMI offers an unbiased analysis of the global PP homopolymer market, providing historical data from 2017 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth and range of the global market, the market is segmented on the basis of processing technology (injection molding, film, other extrusion, fiber, other (blow molding, sheet)), end use (packaging (flexible packaging, rigid packaging), electrical and electronics, textile, automotive, building and construction, others) and region.

According to the latest IMF reports, depending on the region, the PP homopolymer market in China is anticipated to see significant growth during the forecast period. The country is expected to be one of the main consumers of the product. Increasing demand from the automotive and packaging industry is driving market growth in this region. Along with China, the US PP homopolymer market is expected to show impressive growth. The country is expected to account for about 13.7% of the global market share during the forecast period, driven by the expansion of the food industry.

Based on segmentation, by processing technology, the injection molding segment and the packaging industry, in terms of end use, are expected to lead the market growth during the forecast period.

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Table of Contents

1. Executive Summary

1.1. World Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key market trends

Read full TOC here

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