From 2023 to 2033, the PP homopolymer market is expected to grow at a compound annual growth rate (CAGR) of 5.1%. The market is anticipated to be valued at USD 64.17 billion in 2023 and to have a market share of USD 101.28 billion by 2033.
- Restoration of industrial expansion, advanced research and development around new materials, and their application is likely to propel market growth. Also, the lightweight material for aerospace manufacturing is expected to push the vendors to produce more tough and durable PP homopolymers.
- Rising demand for alternative materials to metal is also leading the market to its highest space. The use of different additives with the material provides flexibility to the product while maintaining its strength.
- Different types of PP materials, such as polypropylene copolymers and impact copolymers have various uses, PP homopolymers are generally consumed in the packaging, textile, and automotive industries.
- The expanding electrical and piping applications have led the PP homopolymer to gain more traction during the forecast period. The commercial, industrial, and residential usage of PP homopolymers helps the market is holding a wider end-user audience.
- Big government projects, new industries entering the market, and higher productivity delivered by these PP materials are helping the market have a flow.
- Some ongoing applications of PP homopolymer include packaging and injection molding – thermoplastics. The key features like higher clarity and lower emissions make it the ideal material for such applications.
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Key Points
- The United States market leads the North American PP homopolymer market in terms of market share in North America. The United States held a market share of 12.5% in 2022. The factors attributed to the growth are the rising packaging and automotive sector, high-end research and development on new materials, and their applications.
- The German PP homopolymer market held a healthy market share of 7.3% in 2022. The market growth is caused by Germany working on its sustainable goals and researching emission materials that can be used as a metal alternative.
- The Indian market thrives at an average CAGR of 4.7% between 2023 and 2033. The growth is attributed to industrial expansion, increased propylene production, and its derivatives.
- China thrives at a CAGR of 4.3% between 2023 and 2033.
- Based on processing technology type, the injection molding segment held the leading market share of 32.9% in 2022.
- Based on end-use type, the packaging segment leads as it held a market share of 23.6 in 2022
Competitive Landscape
The key suppliers focus on newer concepts, innovative manufacturing procedures, and the addition of additives for more end users. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
- Reliance Industries Limited has launched its long range of homopolymer derivatives such as AM1120N, AM650N, AS030N, and H200MA.
- ExxonMobil Corporation has introduced its PP homopolymer with fast cycle times, low part weight and cost, and excellent stiffness & impact balance.
Key Players
- LyondellBasell Industries N.V
- Reliance Industries Limited.
- Braskem S.A
- INEOS Group Ltd.
- ExxonMobil Corporation
- Borealis AG
- Total Petrochemicals USA Inc.
- Sasol Limited
- IRPC Public Company Limited
- National Petrochemical Industrial Company
- Polyolefin Company
- L.C.Y. Chemical Corporation
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Key Segmentation of the PP Homopolymer Market
By Processing Technology:
- Injection Moulding
- Film
- Other Extrusion
- Fiber
- Others
- Blow Moulding
- sheet
By End Use:
- Packaging
- Flexible Packaging
- Rigid Packaging
- Electrical & Electronics
- Textile
- Automotive
- Building & Construction
- Others
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