Polypropylene Homopolymer Market: Overview
Polypropylene is a thermoplastic polymer, which is used in various applications. It is produced by the combination of propylene monomer with catalysts. It is primarily employed in the packaging industry for consumer products, food containers, cosmetic products, and beverages. Polypropylene is also used in the manufacture of plastic parts, car bumpers, and dashboards in the automotive industry.
Polypropylene Homopolymer Market: Drivers & Restraints
Homopolymers, also known as polypropylene homopolymers, are the widely used types of polypropylene. They provide high strength-to-weight ratio and are stiffer than copolymers. Excellent chemical resistance enables the usage of polypropylene homopolymers in various corrosion resistant structures. Increase in demand for polypropylene in automotive and medical industries in Asia Pacific is expected to fuel the homopolymers market during the forecast period.
Polypropylene homopolymer is widely used in the manufacture of various products for household, automotive, electrical, electronics, packaging, personal care, medical, and other applications in the plastic processing industry. Polypropylene homopolymer offers high strength-to-weight ratio and good chemical resistance and weldability. Owing to its vast application base, PP homopolymer is a large volume commodity material. Increase in consumption of PP homopolymer in the packaging industry and expansion in the retail sector are estimated to boost the market during the forecast period.
Polypropylene Homopolymer Market: Key Segments
Based on type, the polypropylene homopolymer market can be segmented into injecting molding, film & sheet, fiber, extrusion, blow molding and others. Consumption of polypropylene homopolymer in the blow molding application has been rising due to the increase in demand for packaged food and beverages in emerging countries. Polypropylene is majorly used in the blow molding application due to its ability to withstand elevated temperatures. It can be easily steam sterilized and has high melting point. Its common applications include water bottles, shampoo bottles, and lubricant/pesticide containers.
In terms of end-use industry, the polypropylene homopolymer market can be divided into packaging, electrical & electronics, textile, automotive, building & construction, medical, and others. The packaging segment is expected to dominate the global polypropylene homopolymer market. Rise in consumption of polypropylene homopolymer, particularly in flexible packaging applications, is expected to boost the packaging segment.
Polypropylene Homopolymer Market: Regional Outlook
In terms of region, the global polypropylene homopolymer market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to account for key share of the polypropylene homopolymer market in the near future. This can be ascribed to the well-developed application segments such as packaging, automobile, textile, and others; and large presence of PP homopolymer manufacturers in the region. The market in Europe is anticipated to expand at a remarkable pace from 2018 to 2026, due to increase in consumption of polypropylene homopolymers in the automotive industry and rise in the demand for these homopolymers in the construction industry in the region. The market in Asia Pacific is projected to expand at a rapid pace in terms of revenue, owing to the increase in adoption of polypropylene homopolymers in health care and automobile sectors in emerging economies in the region. Latin America and Middle East & Africa also account for significant share of the global polypropylene homopolymer market. This can be ascribed to increase in demand for PP homopolymers in various end-use industries in these regions.
Polypropylene Homopolymer Market: Key Players
Prominent players operating in the global polypropylene homopolymer market are LyondellBasell Industries, Braskem S.A., The Dow Chemical Company, Reliance Industries Limited, L.C.Y. Chemical Corporation, Total Petrochemicals USA Inc., IRPC Public Company Limited., Sasol Limited., National Petrochemical Industrial Company, and The Polyolefin Company (Singapore) Pte Ltd.
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