The latest report by IMARC Group titled, “Polypropylene Copolymer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global polypropylene copolymer market reached a volume of around 23 Million Tons in 2016, growing at a CAGR of around 4% during 2009-2016. Polypropylene copolymer is a type of thermoplastic material which is formed by the polymerization of propylene in the presence of a catalyst and a monomer. It is a colorless, translucent to transparent solid with a glossy surface, and can melt and flow when subjected to increase in temperatures and pressures. Polypropylene copolymer is also softer than other thermoplastics with better impact strength. It is tough, durable, and resistant to chemicals, scratches and stress cracking. Additionally, polypropylene copolymer has a low moisture absorption rate and the ability to be processed via injection molding and extrusion.
Highlights of the Global Polypropylene Copolymer market:
- The increasing demand from various end-use industries represents the driving factor for the market.
- Rigid packaging represents the largest end-use segment for global polypropylene copolymer consumption.
- Asia accounts for the majority of the total global share of the polypropylene copolymer market.
Owing to its exceptional mechanical and thermal properties, polypropylene copolymer is suitable for a number of applications in industries such as building and construction, healthcare, packaging, plastics, textiles, etc. In the plastics industry, it is used to make products such as packaging films, sheet, boxes, containers, bags, home-ware, personal care and hygiene, homecare, etc. In the textiles industry, it is used in the manufacturing of products such as jackets, undergarments and diapers for kids. In the healthcare industry, it is largely used for syringes, lab-ware and bottles. Some of the other applications of polypropylene copolymer include die cutting pads, chemical processing and storage, fire-fighting equipment, metal finishing, etc. Currently, the major factors driving the growth of the global polypropylene copolymer market are its increasing demand in the packaging, electrical and automotive industries. According to the report, the market is further expected to reach a volume of 29.3 Million Tons by 2022.
On the basis of end-use, rigid packaging accounts for the majority of the total polypropylene copolymer consumption. Other major end-use segments include textiles, technical parts, films and consumer products. On the basis of region, Asia accounts for the majority of the total global shares, representing the largest market for polypropylene copolymer. Other major regions include North and South America, Western and Central Europe, and Middle East and Africa. The global polypropylene copolymer market is concentrated in nature with the top players accounting for the majority of the market share. Some of the key players operating in the market include Lyondell Basell, Sinopec Group, Braskem Group, SABIC and PetroChina Group.
The report has examined the Polypropylene Copolymer market on the basis of:
- Rigid Packaging
- Technical Parts
- Consumer Products
- North and South America
- Western and Central Europe
- Middle East and Africa
- Lyondell Basell
- Sinopec Group
- Braskem Group
- PetroChina Group
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