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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.