Polypropylene Random Copolymers Market Size & Share, by Type (Copolymer, Homopolymer); Application (Blow Film, Blow Molding, Injection Molding, Extrusion Molding); End-user (Packaging, Healthcare, Construction) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 4309
  • Published Date: Sep 25, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036

Polypropylene Random Copolymers Market size is predicted to cross USD 105 billion by the end of 2036, growing at a CAGR of 5% during the forecast period i.e., 2024 – 2036. In the year 2023, the industry size of polypropylene random copolymers was USD 10 billion. The growth of this market can be attributed to the increasing use of the industrial packaging. For instance, over 25% of the global production of polypropylene random copolymer is consumed by the packaging industry alone.

In addition to these, factors that are believed to fuel the growth of polypropylene random copolymers market include the surging use of polypropylene in the production of various household products. Such as, around 35 million metric tons of polypropylene was manufactured in the year 2022 in India and it stands second to polyethylene as one of the highest-produced plastic materials.


Polypropylene Random Copolymers Market
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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 transparent, robust, and aesthetic plastic products such as storage containers and sports bottles. They are flexible, lightweight, optically clear, odor-free, and heat-resistant which makes them perfect glass and other plastic products. In the year 2019, around 350 million metric tons of plastics were produced globally leading to the expansion of the market in the upcoming years.
  • Rise in the Pharmaceutical Sector – Polypropylene random copolymer is significantly being used in the manufacturing of several pharmaceutical products also in packaging applications which is expected to drive the expansion of the polypropylene random copolymers market in the estimated period. Polypropylene random copolymer is widely used by manufacturers for bottling complex pharmaceutical products due to its purity, transparency, inert properties, lightweight, and durability. Additionally, the demand for pharmaceutical packaging and the adoption of polypropylene random copolymer is increasing due to factors such as growing pharmaceutical applications, contract manufacturing in APAC, and an aging population.
  • Increasing Use for Making Plastic Parts in the Automotive Industry – Polypropylene random copolymer is a durable lightweight, heat-resistant resin used to make plastics that are used in the automotive industry for making several automotive vehicles and parts. For instance, over 78 million motor vehicles were manufactured globally in 2021 which rose by 2% than last year.

Challenges

  • Limited High-Temperature Application – Owing to the presence of polypropylene, the polypropylene random copolymer has a very limited high-temperature application. It is so, s polypropylene is a very flexible, soft material with a low melting point, which begins to melt as a result of the CNC cutter’s heat. Hence, such a factor is anticipated to restrain market growth in the coming years.
  • High Flammability of Polypropylene Random Copolymers
  • Fluctuating Crude Oil Prices

Polypropylene Random Copolymers Market: Key Insights

Base Year

2023

Forecast Year

2024 – 2036

CAGR

~5%

Base Year Market Size

~USD 10 billion

Forecast Year Market Size

~USD 105 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Polypropylene Random Copolymer Segmentation

End User (Packaging, Healthcare, Construction)

In terms of end users, the packaging segment in the polypropylene random copolymers market is poised to account for the highest CAGR OF 40% during the forecast period between 2024 – 2036. The growth can be attributed to the worldwide flourishing e-commerce business and the expansion of the packaging sector to cater to the growing customer needs. For instance, in the year 2021, people globally 2 billion people shopped online and this number is estimated to rise owing to the ease and popularity of online shopping.

Application (Blow Film, Blow Molding, Injection Molding, Extrusion Molding)

Polypropylene random copolymers market from the injection molding segment is expected to observe the largest revenue growth during the projected timeframe. The growth of this market can be ascribed to the surging demand for high-volume production of identical components at slashed costs. Additionally, a dynamic upsurge in the demand for medical devices is another substantial factor that is anticipated to push the segment expansion. According to the World Health Organization, currently, there are an estimated 2 million varied types of medical devices in the global sector, divided into around 7000 generic device categories. 

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

     Type

  • Copolymer
  • Homopolymer

 

     Application

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

 

     End User

  • Packaging
  • Healthcare
  • Construction

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Polypropylene Random Copolymer Landscape: Regional Synopsis

APAC Market Forecasts

Asia Pacific polypropylene random copolymers market is anticipated to hold the largest growth of 33% by the end of the forecast timeframe. The growth can be attributed to the back of increasing customer base along with advancement in the food & beverage industry in this region. Besides, the growing disposable income of people and development in lifestyle are also boosting the growth of the market in the Asia Pacific region.

North America Market Statistics

The polypropylene random copolymers market in the North American region is assumed to grow substantially during the studied period. The growth of this market can be attributed to the increasing healthcare sector in the North American region. For instance, patient care contributed around 66% of industry revenue. In 2021 the US healthcare industry accounted for a growth rate of USD 810. Besides, increasing demand for polypropylene random copolymers in the electrical and electronics industry of the North American region is set to drive the growth of the market in the future times.

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Polypropylene Random Copolymers Market Size
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Companies Dominating the Polypropylene Random Copolymers Landscape

top-features-companies
    • LyondellBasell Industries N.V.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • China Petrochemical Corporation (SINOPEC)
    • Entec Polymers
    • Braskem SA
    • Exxon Mobil Corporation
    • Chevron Corporation
    • Sasol Limited Shell International B.V.
    • Saudi Basic Industries Corporation (SABIC)
    • Borealis AG

In the News

  • LyondellBasell Industries N.V. joined the NEXTLOOPP initiative which was launched in October 2020 together with more than 40 other industry players to make circular food-grade recycled polypropylene from post-consumer packaging.
  • Entec Polymers has presented innovative solutions for polypropylene needs that are much more advanced in comparison with clarified copolymers.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4309
  • Published Date: Sep 25, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing demand in the automotive sector and increasing use in the construction industry are some of the major factors anticipated to drive the growth of the polypropylene random copolymer market.

The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2024 – 2036.

The major players in the market are China Petrochemical Corporation (SINOPEC), Entec Polymers, Braskem SA, Exxon Mobil Corporation, Chevron Corporation, Sasol Limited Shell International B.V., and others.

The packaging segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in Asia Pacific is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Polypropylene Random Copolymers Market Report Scope
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