Polypropylene (PP) Resin Market - Forecast (2021 - 2026)
Polypropylene (PP) is an isotactic thermoplastic Resin of the vinyl polymer group. It is a downstream petrochemical product that is derived the Olefin monomer, propylene. It is a hydrocarbon following the formula CnH2n. It is the second most used synthetic polymer globally after polyethylene. China is the largest producer of polypropylene with a market share of 20% as of 2016, followed by the rest of Asia (excluding China) at almost 19%, Europe at 11%, North America at 8.6%, Middle east at almost 8%, south America at 3%, Africa at around 2% and then the rest of the world.
Polypropylene Resin Market Outlook:
Polypropylene is a widely used product with a variety of applications in major consumables and disposable products. Polypropylene is manufactured from propylene gas in the presence of a catalyst. There are many licensed technologies for the production of Polymer, with the most widely used processes trademarked as UNIPOL PP Technology licensed by W.R Grace & Co., followed by the Spheripol Technology licensed by LyondellBasell. One of the largest uses of Polypropylene is its application in the packaging industry, which accounts for the largest market share of Polypropylene. The propylene market is forecasted to have a stable growth in the forecast period due to its importance in the consumables and disposable industry and packaging industry.
Polypropylene Resin (PP) Market Growth drivers:
The major growth driver for the Polypropylene Resin market is its, high operational temperature, high fatigue life, excellent resistance to stress and high resistance to cracking. Its high resistance to most alkalis, acids, organic solvents, degreasing agents and electrolytic attack is also a great advantage that has fueled its use in packaging, housewares, piping, containers and automotive parts. Polypropylene is also economical to manufacture and has very good price to performance ratios which have added to its advantages.
Another major growth driver for the market has been the reusability factor of waste polypropylene products. Polypropylene is pretty much harmless to humans on exposure and does not emit toxic fumes on combustion as well. It also does not pose any chemical hazard to the environment. Due to it being a thermoplastic elastomer, it can be melted and re-used. This is cost effective process which is major plus factor for the industry which has driven the application of polypropylene resins.
Polypropylene Resin (PP) Market Challenges:
One of the challenges faced by the polypropylene resins market is the use of polypropylene resins in the foam application due to the low melt strength that is inherent in the PP resin. The foaming of PP leads to poor cell morphology, cell rupture and has limited density reduction. These disadvantages have limited the use of PP resins in the thermoplastic foaming market. There is research being done to improve the melt strength of PP resins.
The major challenge faced by the PP resins market is the polluting factor of the consumables and disposables plastics made by PP resins. Due to its major use in packaging of various consumer articles like food items there is high rate of pollution of the disposed materials in the environment that is physically hazardous to Animals, birds and marine life. Plastic account for almost 22% of the solid wastes globally, and PP resins being one of the most used materials for the manufacture of plastics holds a major share in that pollution. The issue that comes with recycling PP resin products is that the material properties, for which PP resins are preferred, degrade on being melted and recycled.
The dependence of PP resins on crude oil also poses an important challenge to the industry, as crude oil is not renewable and is expensive and volatile. Companies are trying to figure out bio-based sources for the production of Polypropylene.
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Polypropylene Resin market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
We also publish more than 100 reports every month in "Chemicals and Materials",Go through the Domain if there are any other areas for which you would like to get a market research study.
Polypropylene Resin Market Outlook:
Polypropylene is a widely used product with a variety of applications in major consumables and disposable products. Polypropylene is manufactured from propylene gas in the presence of a catalyst. There are many licensed technologies for the production of Polymer, with the most widely used processes trademarked as UNIPOL PP Technology licensed by W.R Grace & Co., followed by the Spheripol Technology licensed by LyondellBasell. One of the largest uses of Polypropylene is its application in the packaging industry, which accounts for the largest market share of Polypropylene. The propylene market is forecasted to have a stable growth in the forecast period due to its importance in the consumables and disposable industry and packaging industry.
Polypropylene Resin (PP) Market Growth drivers:
The major growth driver for the Polypropylene Resin market is its, high operational temperature, high fatigue life, excellent resistance to stress and high resistance to cracking. Its high resistance to most alkalis, acids, organic solvents, degreasing agents and electrolytic attack is also a great advantage that has fueled its use in packaging, housewares, piping, containers and automotive parts. Polypropylene is also economical to manufacture and has very good price to performance ratios which have added to its advantages.
Another major growth driver for the market has been the reusability factor of waste polypropylene products. Polypropylene is pretty much harmless to humans on exposure and does not emit toxic fumes on combustion as well. It also does not pose any chemical hazard to the environment. Due to it being a thermoplastic elastomer, it can be melted and re-used. This is cost effective process which is major plus factor for the industry which has driven the application of polypropylene resins.
Polypropylene Resin (PP) Market Challenges:
One of the challenges faced by the polypropylene resins market is the use of polypropylene resins in the foam application due to the low melt strength that is inherent in the PP resin. The foaming of PP leads to poor cell morphology, cell rupture and has limited density reduction. These disadvantages have limited the use of PP resins in the thermoplastic foaming market. There is research being done to improve the melt strength of PP resins.
The major challenge faced by the PP resins market is the polluting factor of the consumables and disposables plastics made by PP resins. Due to its major use in packaging of various consumer articles like food items there is high rate of pollution of the disposed materials in the environment that is physically hazardous to Animals, birds and marine life. Plastic account for almost 22% of the solid wastes globally, and PP resins being one of the most used materials for the manufacture of plastics holds a major share in that pollution. The issue that comes with recycling PP resin products is that the material properties, for which PP resins are preferred, degrade on being melted and recycled.
The dependence of PP resins on crude oil also poses an important challenge to the industry, as crude oil is not renewable and is expensive and volatile. Companies are trying to figure out bio-based sources for the production of Polypropylene.
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Polypropylene Resin market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
We also publish more than 100 reports every month in "Chemicals and Materials",Go through the Domain if there are any other areas for which you would like to get a market research study.
Comments
Post a Comment