Global Polypropylene Copolymer Market to Reach US$ 86.4 Billion by 2032, Fueled by Bolstering Growth of the Automotive Industry

August 29, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “­­Polypropylene Copolymer Market Report by End-Use (Rigid Packaging, Textiles, Technical Parts, Films, Consumer Products, and Others), and Region 2024-2032,” the global polypropylene copolymer market size reached US$ 58.1 Billion in 2023. Polypropylene copolymer is a versatile thermoplastic polymer widely used in various industrial applications. It is a type of polypropylene that is produced by copolymerizing propylene with other monomers, resulting in a material with enhanced properties compared to homopolymer polypropylene. Polypropylene copolymer exhibits excellent chemical resistance, high impact strength, and good heat resistance, making it a favored choice in manufacturing a wide range of products. This polymer is utilized in the production of various consumer goods, packaging materials, automotive components, electrical appliances, and medical devices. Its ability to be easily molded and processed further contributes to its popularity in the plastics industry. Polypropylene copolymer is known for its lightweight nature, cost-effectiveness, and recyclability, making it an environmentally friendly choice for businesses seeking sustainable solutions.

Global Polypropylene Copolymer Market Trends:

The global polypropylene copolymer market is primarily impelled by the surge in demand for lightweight and durable materials in various industries. Moreover, the expanding usage of polypropylene copolymer across the bolstering automotive sector for manufacturing components, such as bumpers, interior trim, and under-the-hood applications, is creating a favorable outlook for market expansion. Besides this, its low weight-to-strength ratio and ability to endure harsh environmental conditions is strengthening the market growth. In addition to this, the flourishing expansion of the packaging industry, the rise in e-commerce, and the need for sustainable, recyclable, and durable packaging solutions are acting as other significant growth-inducing factors. Concurrently, the increased usage of polypropylene copolymers across the food and beverage sector in the production of food containers and packaging films, owing to its excellent barrier properties and ability to preserve the quality and freshness of food products, is aiding in market expansion. Furthermore, the growing adoption of polypropylene copolymers in medical devices and equipment owing to their biocompatibility, ease of sterilization, and resistance to chemicals is presenting remunerative growth opportunities for the market. Apart from this, advancements in polymer technology and research and development (R&D) efforts are continually improving the properties and performance of polypropylene copolymers, further propelling its market growth. Looking forward, the market value is projected to reach US$ 86.4 Billion by 2032, expanding at a CAGR of 4.4% during 2024-2032.

Market Summary:

  • Based on the end-use, the market is categorized into rigid packaging, textiles, technical parts, films, consumer products, and others. Among these, rigid packaging dominates the market, holding the largest global share.
  • On a regional basis, the market has been segmented into Asia Pacific, North and South America, Western and Central Europe, Middle East and Africa, and others. Currently, Asia Pacific represents the largest market for polypropylene copolymer.
  • The competitive landscape of the market has also been examined, with some of the key players being LyondellBasell, Sinopec Group, Braskem Group, SABIC, and PetroChina Group.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • End-Use
  • Region
End-Uses Covered Rigid Packaging, Textiles, Technical Parts, Films, Consumer Products, Others
Regions Covered Asia Pacific, North and South America, Western and Central Europe, Middle East and Africa, Others
Companies Covered LyondellBasell, Sinopec Group, Braskem Group, SABIC, and PetroChina Group
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Polypropylene Copolymer Market to Reach US$ 86.4 Billion by 2032, Fueled by Bolstering Growth of the Automotive Industry
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