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CHEMICALS AND ADVANCED MATERIALS

Polypropylene Random Copolymers Market Analysis by Application (Blow Film, Blow Molding, Injection Molding, and Extrusion Molding); by End Use (Packaging, Healthcare, Construction, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • July 18, 2022: LyondellBasell Industries joined the NEXTLOOPP initiative which was launched in October 2020 together with more than 40 other industry players in an effort to make circular food-grade recycled polypropylene (FGrPP) from post-consumer packaging

  • June 27, 2022: Entec Polymers has presented innovative solutions for polypropylene needs that are much more advanced in comparison with clarified copolymers

Global Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Polypropylene Random Copolymers Market Regional Synopsis

The global polypropylene random copolymers market is estimated to garner a revenue of around USD 12 billion by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 8 billion in the year 2021. The growth of the global polypropylene random copolymers market is determined on the basis of its increasing use in the packaging industry. Over 25% of the worldwide production of polypropylene random copolymer is consumed by the packaging industry alone. This is expected to expand the global polypropylene random copolymers market size.

Polypropylene Random Copolymers Market Region

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Polypropylene random copolymers are polymers of propylene and ethylene which are widely used in household as well as industrial applications. This increasing use is anticipated to drive the global polypropylene random copolymer market growth. Around 65 million metric tons of polypropylene was manufactured in the year 2020 and it stands second to polyethylene as one of the highest produced plastic materials.

Global Polypropylene Random Copolymers Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Plastic Products – Polypropylene random copolymer is extensively used in the manufacture of robust, transparent, and aesthetic plastic products such as storage containers and sports bottles. They are lightweight, optically clear, flexible, odor and heat resistant, making them preferable to glass and other plastics. As per the industry report, over 350 million metric ton of plastic was produced in 2019 worldwide and the production is predicted to incline in the forthcoming years.

  • Growth in Healthcare Industry – Polypropylene random copolymers are used in the manufacture of syringes and medical containers.  According to statistics, the global healthcare industry has been steadily growing at a rate of ~5% and earned almost USD 2 trillion in 2018.

  • Increasing Use in Construction Industry – Polypropylene random copolymers are frequently used in the manufacture of pipes for hot and cold water circulation. This is estimated to propel the market growth, as on average around 13,000 buildings are constructed every year.

  • Increasing Use for Making Plastic Parts in Automotive IndustryOver 78 million motor vehicles were manufactured worldwide in the year 2021, an increase of about ~2% from the year before. 

  • Surge in Global Population – It is predicted that the global population will reach almost 10 billion in the next 3 decades. This factor is expected to drive the polypropylene random copolymers market growth to cater to a growing customer base.

Challenges

  • Limited High-temperature Applications
  • High Flammability
  • Fluctuating Crude Oil Prices

The global polypropylene random copolymers market is segmented and analyzed for demand and supply by end use into packaging, healthcare, construction, and others. Of them, the packaging sector is expected to grow the fastest on the back of a flourishing eCommerce business and the expansion of packaging industry to cater to the growing customer needs. Over 2 billion people shopped online in the year 2021, and the number is expected to rise owing to the ease and popularity of online shopping.

Major Macro-Economic Indicators Impacting the Market Growth

Polypropylene Random Copolymers Market Chart

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Polypropylene Random Copolymers Market Regional Synopsis

Regionally, the global polypropylene random copolymers market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2031. This market growth is forecasted owing to an expanding customer base, gradual lifestyle changes, and increasing disposable income. Further, advancements in the food and beverages industries of some of the countries in this region are expected to drive the polypropylene random copolymers market in Asia Pacific. As per data collected by the International Trade Administration (ITA), the food and beverage business in China garnered approximately USD 595 billion in 2019 growing by about ~8% from 2018.

Polypropylene Random Copolymers Market Regional Synopsis

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The global polypropylene random copolymers market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global polypropylene random copolymers market includes the following segments:

By Application

  • Blow Film
  • Blow Molding
  • Injection Molding
  • Extrusion Molding

By End Use

  • Packaging
  • Healthcare
  • Construction
  • Others
 

Top Featured Companies Dominating the Global Polypropylene Random Copolymers Market

  • LyondellBasell Industries
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • China Petroleum
  • Entec Polymers
  • Chemical Corporation (Sinopec)
  • Total S.A.
  • Braskem
  • ExxonMobil Corporation
  • Chevron Corporation
  • Sasol limited
  • Royal Dutch Shell B. V.

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