Global Polypropylene Market to be dominated by utilization of polypropylene in construction industry through 2028.
Growth in research and
development and initiatives taken by the government to support the production
of polypropylene are the major drivers for the Global Polypropylene Market.
According to TechSci Research
report, “Polypropylene Market –Global Industry Size, Share, Trends, Competition,
Opportunity and Forecast, 2018-2028”, the Global Polypropylene
Market is anticipated to register a high CAGR during the forecast period.
This can be ascribed to collaborations and partnerships among leading companies
with a diverse approach to merge the expertise of individual companies and to
strengthen their position in the market.
The utilization of
polypropylene in the construction industry has emerged as a significant driver
of the global polypropylene market. From reinforcing concrete to providing
insulation, polypropylene is revolutionizing the construction landscape and
propelling the growth of the global polypropylene market. Polypropylene fibers,
also known as synthetic macro fibers, are utilized as reinforcement in concrete
and other construction materials. These fibers enhance the durability and
strength of concrete, reducing the likelihood of cracks and enhancing the
overall structural integrity of buildings. The incorporation of polypropylene
fibers minimizes shrinkage and provides resistance to impact, making it
particularly suitable for industrial floors, pavements, and precast elements.
Moreover, polypropylene membranes and coatings are employed as effective
waterproofing solutions in various construction applications. These materials
create a reliable barrier that prevents water penetration, protecting
structures from moisture-related damage. Polypropylene waterproofing membranes
are commonly utilized in basements, underground structures, and roofing
systems. Additionally, the use of polypropylene-based materials benefits
modular construction elements, temporary structures, and easily transportable
components. These lightweight materials reduce construction time,
transportation costs, and the need for heavy machinery.
Browse over XX market data Figures and spread through 110 Pages and an in-depth TOC on "Global Polypropylene Market.”
The increasing focus on
R&D activities is driving the polypropylene market by promoting innovation,
sustainability, and improved material performance. Researchers are actively
exploring methods to produce bio-based polypropylene from renewable feedstocks,
thereby reducing reliance on fossil fuels. Additionally, R&D efforts are facilitating
the development of recycling technologies that convert post-consumer and
post-industrial polypropylene waste into high-quality resins, fostering a
circular economy and minimizing environmental impact. Governments worldwide
acknowledge the strategic significance of the polypropylene industry and have
implemented various initiatives to support its production. Environmental
concerns have prompted governments to enforce regulations that promote
sustainable practices in the polypropylene sector. Initiatives that encourage
recycling and circular economy principles incentivize manufacturers to develop
recycling technologies, incorporate recycled polypropylene in their products,
and mitigate the environmental impact of plastic waste. Efficient logistics play
a crucial role in the success of the polypropylene industry, leading
governments to invest in transportation infrastructure, such as ports, roads,
and rail networks, to facilitate the movement of raw materials, intermediate
products, and finished goods within and across borders. Collaborations and
partnerships play a crucial role in driving the global expansion of the
polypropylene market. International partnerships among producers, distributors,
and traders facilitate the seamless movement of polypropylene products across
borders. Joint ventures and alliances provide companies with opportunities to
enter new markets, navigate regulatory landscapes, and cater to diverse
customer preferences, ensuring adaptability and success. A recent collaboration
based on polypropylene involves Milliken and PureCycle. They have advanced
circularity by launching a new concentrate using recycled polypropylene (PP)
resin. Milliken has also joined the Polypropylene Recycling Coalition, which
aims to improve and increase the recycling of plastic packaging in the United
States. Another collaboration involves Borealis, which showcased a new PP
monomaterial pouch that is fully compatible for mechanical recycling of
polypropylene at PRSE 2023. Braskem has expanded its circular polymer portfolio
with new FDA post-consumer recycled (PCR) polypropylene grades. Berry Global
has recognized the upgraded recycling status of polypropylene rigid containers
to "Widely Recycled," promoting increased polypropylene plastic
recycling.
However, fluctuations in
price of raw materials and disruptions in supply chain are expected to slow
down the growth of the market in the coming years.
The Global Polypropylene Market segmentation is based on Type, Application, End-Use Industry, By Company, and Region
Some
of the major companies operating in the Global
Polypropylene Market include:
·
SABIC
·
Exxon
Mobil Corporation
·
Borealis
AG
·
BASF
SE
·
INEOS
Group
·
Reliance
Industries Limited
·
LG
Chem
·
LyondellBasell
Industries Holdings B.V.
·
Mitsubishi
Chemical Corporation
·
Lotte
Chemical Corporation
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“Certain regions,
particularly the Asia Pacific, are projected to exert significant demand for polypropylene
worldwide. The growth in the competitive landscape and the presence of
well-established companies in the market, committed to enhancing their polypropylene
productivity each year, are expected to contribute to a remarkable growth of
the Global Polypropylene Market in the forecast period," said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based Global
management consulting firm.
Global Polypropylene Market, By Type (Homopolymer, Copolymer and Others), By Application (Injection Moulding, Fiber & Raffia, Film & Sheet, Blow Moulding and Others), By End-Use Industry (Packaging, Automotive, Build & Construction, Medical, Electrical & Electronics, and Others), Competition, Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of Global Polypropylene Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Polypropylene Market.
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