Market Size of Polypropylene Industry
Study Period | 2019 - 2029 |
Market Volume (2024) | 91.98 Million tons |
Market Volume (2029) | 121.81 Million tons |
CAGR (2024 - 2029) | 5.78 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Polypropylene Market Analysis
The Polypropylene Market size is estimated at 91.98 Million tons in 2024, and is expected to reach 121.81 Million tons by 2029, growing at a CAGR of 5.78% during the forecast period (2024-2029).
A slight decline in the demand for polypropylene has been observed due to COVID-19. A drastic slowdown was witnessed in the construction and automotive sector, where polypropylene is in high demand. With the resumption of operations in major end-user industries, it significantly recovered in 2022.
- Over the short term, major factors driving the market studied are the increasing usage of plastics to reduce vehicle weight and enhance fuel economy and the growing demand for flexible packaging.
- On the other hand, the presence of different substitute products in the market is a key factor anticipated to restrain the growth of the target industry over the forecast period.
- The increasing trends of recycled polypropylene are likely to act as an opportunity in the future.
- The Asia-Pacific dominated the market across the world and is expected to dominate in the forecast period, with the largest consumption from countries such as China and India.
Polypropylene Industry Segmentation
Polypropylene is a thermoplastic polymer produced from the chain-growth polymerization of propylene monomer.
The market is segmented based on type, application, end-user industry, and geography. By type, the market is segmented into homopolymer and copolymer. By application, the market is segmented into injection molding, fiber, film and sheet, and other applications (extrusion coating and blow molding). By end-user industry, the market is segmented into packaging, automotive, consumer products, electrical and electronics, and other end-user industries (textiles, construction). The report also covers the market size and forecasts for the polypropylene market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (million tons).
Type | |
Homopolymer | |
Copolymer |
Application | |
Injection Molding | |
Fiber | |
Film and Sheet | |
Other Applications (Extrusion Coating, Blow moulding) |
End-user Industry | |
Packaging | |
Automotive | |
Consumer Products | |
Electrical and Electronics | |
Other End-user industries (Textiles, Construction) |
Geography | ||||||||
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Polypropylene Market Size Summary
The polypropylene market is witnessing significant growth, driven by its increasing use in the automotive and construction sectors, among others. Key factors propelling the market include the growing demand for flexible packaging and the use of plastics to reduce vehicle weight and enhance fuel economy. However, the presence of substitute products could potentially restrain market growth. Trends such as the recycling of polypropylene present future opportunities for the industry. The Asia-Pacific region, particularly China and India, dominates the global market due to high consumption rates. Polypropylene is primarily used for injection molding, a process extensively used in electrical and electronic applications. The material's flexibility makes it suitable for a wide range of products, from children's toys to automotive applications and household goods. The growth of the packaging and chemical processing industries is expected to boost the demand for injection molding, thereby favoring the polypropylene market. Additionally, the adoption of lightweight components in automobiles to increase fuel efficiency is anticipated to stimulate market demand. The industry is fragmented, with the top five companies holding around 35% of the global market share.
Explore MorePolypropylene Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Usage of Plastics to Reduce Vehicle Weight and Enhance Fuel Economy
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1.1.2 Growing Demand for Flexible Packaging
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1.2 Restraints
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1.2.1 Availability of Substitute Products
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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1.5 Price Trends
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1.6 Import-Export Trends
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1.7 Feedstock Analysis
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1.8 Technological Snapshot
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Type
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2.1.1 Homopolymer
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2.1.2 Copolymer
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2.2 Application
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2.2.1 Injection Molding
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2.2.2 Fiber
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2.2.3 Film and Sheet
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2.2.4 Other Applications (Extrusion Coating, Blow moulding)
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2.3 End-user Industry
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2.3.1 Packaging
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2.3.2 Automotive
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2.3.3 Consumer Products
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2.3.4 Electrical and Electronics
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2.3.5 Other End-user industries (Textiles, Construction)
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 ASEAN Countries
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2.4.1.6 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 France
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2.4.3.4 Italy
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2.4.3.5 Russia
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2.4.3.6 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East and Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Rest of Middle East and Africa
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Polypropylene Market Size FAQs
How big is the Polypropylene Market?
The Polypropylene Market size is expected to reach 91.98 million tons in 2024 and grow at a CAGR of 5.78% to reach 121.81 million tons by 2029.
What is the current Polypropylene Market size?
In 2024, the Polypropylene Market size is expected to reach 91.98 million tons.