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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 – 2036 |
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CAGR |
~5% |
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Base Year Market Size |
~USD 10 billion |
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Forecast Year Market Size |
~USD 105 billion |
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Regional Scope |
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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:
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Type |
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Application |
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End User |
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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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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