Increasing consumption of PP homopolymer in the packaging industry is one of the key factors driving its demand in the global market. Characteristics such as high physical strength and chemical resistance makes PP homopolymer a material of choice for packaging applications. With the rise of the retail and e-commerce sectors, demand for high end packaging is increasing, which in turn is expected to drive the demand for PP homopolymer across the globe.
In order to comply with various government and environmental regulations, automobile manufacturers around the world are focussed on decreasing carbon emissions from vehicles and PP homopolymer plays a key role here. Use of PP homopolymer in automotive applications leads to reduced weight of the vehicle, consequently increasing its fuel efficiency. In order to capitalise on the opportunities in the market, market players are introducing new grades of PP homopolymer for various new applications to increase their market share in the global market.
However, in the last few years, automobile OEMs have been switching from PP homopolymer to PP copolymer and aluminium for manufacturing specific vehicle parts as PP copolymer and aluminium provide better toughness and durability than PP homopolymer. This is likely to restrict the growth of the global PP homopolymer market over the forecast period.
By Processing Technology
- Injection Moulding
- Film
- Other Extrusion
- Fibre
- Others (blow moulding, sheet etc.)
By End Use
- Packaging
- Flexible Packaging
- Rigid Packaging
- Electrical and Electronics
- Textile
- Automotive
- Building and Construction
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
Injection Moulding processing technology segment anticipated to hold largest market value share throughout the forecast period The injection moulding segment is projected to account for 39.4% value share in the global PP homopolymer market by 2016 end, registering a CAGR of 6.1% over the forecast period. High demand for injection moulded products for home care, personal care, appliances, and other applications is expected to be a key reason for the segment’s growth through 2026.
Packaging end use segment likely to dominate the global PP homopolymer market throughout the forecast period The packaging segment dominated the global PP homopolymer market in 2015 and the segment is forecast to exhibit a CAGR of 6.0%. Increasing consumption of PP homopolymer – particularly for flexible packaging used in the food and beverage industry – is expected to fuel the growth of this segment.
APEJ estimated to dominate the global PP homopolymer market in terms of value The APEJ PP homopolymer market is estimated to represent 38.9% value share in the global PP homopolymer market by the end of 2016, and this regional market is expected to increase at a value CAGR of 5.8% over the forecast period. The MEA homopolymer market is anticipated to register a CAGR of 5.4% during the forecast period.
Leading market players are focussing on increasing global market presence through new product launches and strategic joint ventures and partnerships
According to a new report published by Future Market Insights titled “PP Homopolymer Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”, the global PP homopolymer market was valued at US$ 42.87 Bn in 2015 and is anticipated to register a CAGR of 5.5% during the forecast period (2016 – 2026). The report throws light on the key drivers, trends, and restraints likely to impact the growth and performance of the global PP homopolymer market over the next 10 years and offers information on opportunities for PP homopolymer manufacturers operating in the global PP homopolymer market.
According to Future Market Insights, an increasing consumption of PP homopolymer in the packaging industry along with a high growth of the retail sector is likely to boost the demand for PP homopolymer and subsequently drive market growth over the forecast period. PP homopolymer plays a major role in decreasing carbon emissions from vehicles and manufacturers around the world are increasingly using PP homopolymer in vehicle production to comply with various government and environmental regulations regarding the reduction of carbon emissions from vehicles. Use of PP homopolymer in automotive applications leads to reduced weight of the vehicle, consequently increasing its fuel efficiency. This is another factor fuelling the growth of the global PP homopolymer market. In order to capitalise on the opportunities in the market, market players are introducing new grades of PP homopolymer for various new applications to increase their market share in the global market.
However, in the last few years, automobile OEMs have been switching from PP homopolymer to PP copolymer and aluminium for manufacturing specific vehicle parts as PP copolymer and aluminium provide better toughness and durability than PP homopolymer. This is likely to restrict the growth of the global PP homopolymer market over the forecast period.
Segmentation highlights
The global PP homopolymer market is segmented on the basis of processing technology into Injection Moulding, Film, Other Extrusion, Fibre, and Others (blow moulding, sheet etc.); and on the basis of end use into Packaging (Flexible Packaging, Rigid Packaging), Electrical and Electronics, Textile, Automotive, Building and Construction, and Others.
- The Injection Moulding processing technology segment is anticipated to hold the largest market value share throughout the forecast period and is expected to create total incremental opportunity of US$ 14.62 Bn between 2016 and 2026
- The Packaging end use segment is estimated to dominate the global PP homopolymer market throughout the forecast period due to high demand in North America and Western Europe. This segment is expected to create total incremental opportunity of US$ 15.16 Bn by the end of 2026
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Regional analysis
The global PP homopolymer market is segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). The APEJ regional market is estimated to dominate the global PP homopolymer market in terms of value and register a CAGR of 5.8% over the forecast period. The MEA homopolymer market is anticipated to witness a CAGR of 5.4% during the forecast period, making MEA the second largest market in terms of CAGR.
Vendor insights
The global PP homopolymer market report features some of the top companies operating in this market. 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. are the companies profiled in the report. Global manufacturers are introducing new grades of PP homopolymer in order to meet different technical and regulatory requirements for various end-use industries.
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About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
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