Ethylene Propylene (Epdm) Market Definition And Segments

Ethylene propylene is a type of synthetic rubber formed as a terpolymer of ethylene, propylene, and a diene component. It is resistant to heat and electricity and is non-reactive towards acids and alkali compounds. Ethylene propylene is used in weather-stripping and seals, glass-run channels, radiators, garden and appliance hoses, tubing, belts, and electrical insulation. The main product types of ethylene-propylene are solution polymerization and suspension polymerization. Solution polymerization is the polymerization that takes place in a solution. The presence of a solvent prevents the viscosity of the reaction mixture from becoming too high, which is beneficial for fluid flow and heat transfer. The various applications involved are automotive, building and construction, plastic modification, lubricant additives, wires and cables, and tires and tubes. The ethylene propylene (epdm) market covered in this report is segmented – 1) By Product Type: Solution Polymerization, Suspension Polymerization 2) By Application: Automotive, Building & Construction, Plastic Modification, Lubricant Additive, Wires & Cables, Tires & Tubes The ethylene propylene (epdm) market size has grown rapidly in recent years. It will grow from $6.74 billion in 2023 to $7.47 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to automotive industry, construction and building materials, electrical and electronics, consumer goods. The ethylene propylene (epdm) market size is expected to see strong growth in the next few years. It will grow to $10.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to renewable energy infrastructure, automotive electrification, green and sustainable materials, oil and gas sector. Major trends in the forecast period include bio-based epdm, high-performance formulations, recycled epdm, flexible electronics and conductive applications.

Versatile Applications Of Ethylene-Propylene Driving Market Expansion

The use of ethylene propylene across various industries contributes to the growth of the ethylene-propylene market. In the automotive industry, EPDM products bond well with metals by providing a well-built barrier against the environment. EPDM possesses properties such as heat resistance, abrasion resistance, oil swell resistance, flame retardance, oxidation, ozone, and weather aging due to its stable, saturated polymer backbone structure. Companies such as BRP manufacturing are providing EPDM for the automotive industry that includes under-the-hood, cabin pressure-equalizing assemblies, interior trim, and striker plate blinds. Thus, the usage of EPDM in different industries is contributing to the EPDM market's growth.

Rising Construction Demand Fuels Robust Growth In The Ethylene-Propylene Market

Increasing demand for construction activities is expected to propel the growth of the ethylene-propylene market going forward. Construction refers to the activity of putting together various elements to create a structure for a specific location using a detailed design and plan. Ethylene-propylene diene monomer (EPDM) rubber is highly useful in construction activities due to its versatile properties, such as roofing membranes, waterproofing systems, weather stripping, and vibration isolation. For instance, in June 2021, according to Stats NZ Tatauranga Aotearoa, a New Zealand-based government data agency, building activities increased by 3.7 percent in March 2021. Further, in 2021, residential activities rose 4.3 percent compared to 2020. Additionally, according to the US Census Bureau, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10.2 percent. Therefore, an increasing demand for construction activities is driving the growth of the ethylene-propylene market. Major companies operating in the ethylene propylene (EPDM) market include Dow Chemical Company, Exxon Mobil Corporation, Johns Manville Inc., Kumho Polychem Co. Ltd., Lanxess AG, Lion Elastomers LLC, Mitsui Chemicals Inc., SK Global Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., Versalis SpA, JSR Corporation, Saudi Arabia's Basic Industries Corporation, SSME, Jilin Xingyun Chemical Co. Ltd., Lion Copolymer Holdings LLC, PetroChina Company Limited, Nizhnekamskneftekhim PJSC, BASF SE, China Petroleum and Chemical Corporation, Avient Corporation, Carlisle Companies Inc., Rubber Engineering & Development Company (REDCO), Firestone Building Products Company LLC, Warco Biltrite, Arlanxeo, Trelleborg Group, Freudenberg Sealing Technologies Limited, Parker Hannifin Corporation, James Walker & Co., ERIKS NV, Kemipex Chemicals Trading LLC, Kismet Rubber Products Corp, Carlisle SynTec Systems, Carlisle SynTec, GenFlex Roofing Systems LLC

Voc Emissions In Ethylene-Propylene Manufacturing Hinder Market Expansion

The release of volatile organic compounds (VOCs) while manufacturing ethylene-propylene causes environmental pollution, which is challenging the growth of the EPDM market. VOCs consist of different chemicals that show adverse effects on human health as well as on the environment as they release fine particulates into the atmosphere, resulting in the formation of smog and reduced visibility. For instance, to avoid harmful emissions of VOCs, the Hong Kong government has implemented various regulations, such as products exceeding normal emissions of VOCs are not allowed in the country. Thus, the increased release of VOCs from producing ethylene propylene is limiting its market growth.

Introduction Of High-Performance And Sustainable Engineering Polymers

Major companies operating in the ethylene propylene market are focusing on developing innovative technology, such as Stelora, to preserve an upper hand in the market. Stelora is a new category of synthetic polymers that can be utilized for a variety of technologically sophisticated applications that high-temperature polymers are being utilized for. For instance, in May 2023, Borealis AG, an Austria-based chemicals company, launched Stelora, a brand-new engineering polymer class that sets performance and sustainability standards. This technology is a new line of environmentally friendly engineering polymers that replaces traditional engineering polymers while providing significantly improved strength, durability, and heat resistance. It is intended to improve the performance of current solutions by bridging the thermal performance gap between high-temperature PPS, PTFE, and PEEK films and PP capacitor films.

Growing Demand For Bio-Based Epdm Rubber Fuels Market Expansion

The increasing demand for ethylene propylene diene monomer (EPDM) rubber produced from bio-based feedstock acts as a key trend driving the growth of the EPDM market. Renewable EPDM rubber uses raw materials such as sugar and glycerin to replace traditional feedstock such as isoprene and butadiene in synthetic rubber production to reduce greenhouse emissions and to achieve sustainability. For instance, Keltan, a Netherlands-based company, produced the first commercial bio-based feedstock, KELTAN ECo., based on renewable raw materials. Therefore, renewable EPDM rubber is expected to increase the market share of the EPDM market. Asia-Pacific was the largest region in the ethylene-propylene market in 2023. Middle East was the second-largest region in the global ethylene-propylene market. The regions covered in the ethylene propylene (EPDM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ethylene propylene (EPDM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The ethylene propylene market consists of the sales of ethylene propylene made with ethylene and propylene alone, and ethylene propylene made with small amounts of a diene (generally ethylidene norbornene or 1,4-hexadiene). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The ethylene-propylene market research report is one of a series of new reports from The Business Research Company that provides ethylene-propylene market statistics, including ethylene-propylene industry global market size, regional shares, competitors with an ethylene-propylene market share, detailed ethylene-propylene market segments, market trends and opportunities, and any further data you may need to thrive in the ethylene-propylene industry. This ethylene-propylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Amorphous Polypropylene Terephthalate Market Definition And Segments

The amorphous polypropylene terephthalate refers to a thermal, rigid plastic that belongs to the polyester product family. It is known for its excellent transparency, light processing, and great barrier properties. Some of the advantages of amorphous polypropylene terephthalate are its excellent impact resilience, deep foaming capabilities, and gas and water resistance qualities. The main types of additives in amorphous polypropylene terephthalate are chain extenders, nucleating agents, solid stating accelerators, impact modifiers, and others. Chain extenders are low molecular weight diols or diamines that react with diisocyanates to build polyurethane molecular weight. It comprises a short-chain diol used in polyurethanes and polyurethane-based thermoplastics (TPU) to make hard blocks. The amorphous polypropylene terephthalate is used in food & beverages, pharmaceuticals, dairy, automotive, textiles, and others for manufacturing of bottles, films/sheets, food packaging, and others. The amorphous polypropylene terephthalate market covered in this report is segmented – 1) By Additives: Chain Extenders, Nucleating Agents, Solid Stating Accelerators, Impact Modifiers, Other Additives 2) By Application: Bottles, Films/Sheets, Food Packaging, Other Applications 3) By End-Use: Food & Beverages, Pharmaceuticals, Dairy, Automotive, Textiles, Other End-Uses The amorphous polypropylene terephthalate market size has grown strongly in recent years. It will grow from $41.37 billion in 2023 to $45.13 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increased application in the food and beverage industry, growing demand due to its wide range of applications, increased demand for lightweight and durable packaging materials, growth in the textile industry, with applications in fabrics and garments, adoption in the automotive sector for interior components. The amorphous polypropylene terephthalate market size is expected to see strong growth in the next few years. It will grow to $63.34 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to surge in demand for sustainable and recyclable materials, growth in the medical industry, increasing use in the construction sector for insulation materials, expansion of the renewable energy sector, high disposable income. Major trends in the forecast period include adoption in 3d printing for versatile manufacturing applications, development of bio-based and bio-degradable amorphous, customization of a-pet materials for specific industrial applications, integration of nanotechnology for enhanced properties in a-pet, collaboration between industries for cross-application of a-pet in various sectors.

Increased Food And Beverage Packaging Demand Drives Growth Of The Amorphous Polyethylene Terephthalate Market

The surge in product demand for the purpose of packaging in the food and beverage sector will propel the growth of the amorphous polypropylene terephthalate market. Amorphous polyethylene terephthalate is used extensively for packaging food items and beverages, as it offers high strength and stiffness, clear visibility, and low creep characteristics, which make it perfect for use in food packaging applications. These plastics are used in the food and beverage industry to pack drinks, fresh meats, fruits, and vegetables. According to a United Nations Environment Programme (UNEP) report, 36% of the total plastics produced are used in packaging, including single-use plastic products for food and beverage containers. Thus, a surge in product demand for the purpose of packaging in the food and beverage sector will drive the amorphous polypropylene terephthalate market.

Growth Of The Amorphous Polypropylene Terephthalate Market Fueled By Expanding Automotive Industry

The expanding automotive industry is expected to propel the growth of amorphous polypropylene terephthalate market going forward. The automotive industry refers to a sector that involves various companies and organizations engaged in the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. The amorphous polypropylene terephthalate is used in the automotive industry for manufacturing of various parts such as door handles, fuel systems, and others. For instance, in August 2023, according to the Board of Governors of the Federal Reserve System, a US-based government agency, total vehicle production in the United States increased to 11.77 million units in July, up from 10.91 million units in June. Therefore, the expanding automotive industry is driving the growth of the amorphous polypropylene terephthalate market. Major companies operating in the amorphous polypropylene terephthalate market report are Jiangsu Sanfangxiang Group Co. Ltd., DAK Americas LLC, Teijin Ltd., M&G Chemicals SA., Alpek S. A. B. de C. V., Indorama Ventures Public Company Limited, Far Eastern New Century Corporation, Invista Sarl, Reliance Industries Ltd., The Quadrant Group of Companies, Zhejiang Zhink Group Co. Ltd., MPI Polyester Industries Sdn Bhd, LOTTE Chemical Corporation, Covestro AG, Dow Inc., Eastman Chemical Company, Toray Industries Inc., Saudi Basic Industries Corporation, Mitsubishi Chemical Corporation, SK Chemicals Co. Ltd., JBF Industries Ltd., Polyplex Corporation Limited, Jindal Poly Films Limited, Ester Industries Limited, Garware Polyester Limited, Polygenta Technologies Limited, Polyone Corporation, RTP Company, Plasticoncentrates Inc., Polyram Plastic Industries Ltd., Polyplastics Co. Ltd., Sumitomo Chemical Co. Ltd., LG Chem Ltd., BASF SE, DuPont de Nemours Inc., Solvay SA, Arkema SA, Evonik Industries AG, Lanxess AG

Amorphous Polypropylene Terephthalate Market Fueled By Sustainable Product Innovations And Horizontal Recycling Initiatives

Product innovation is a key trend gaining popularity in the amorphous polypropylene terephthalate market. Manufacturers are coming up with new product innovation that consists of environmentally friendly techniques for manufacturing plastic. For instance, in August 2023, Origin Materials, a US-based chemical company, launched all PET (polyethylene terephthalate) bottle caps, enabling the potential for 100% recycled PET throughout the entire bottle, including the cap, to enhance post-consumer recycling efforts. These PET caps from Origin are exceptionally eco-friendly as they can be made from various PET sources, including recycled PET and Origin's 100% bio-based, carbon-negative virgin PET. PET offers superior oxygen and CO2 barrier properties compared to commonly used cap materials such as HDPE and PP.

High-Strength Polyethylene Drive Competitiveness In The Plastic Packaging Industry

Major companies operating in the market are focused on developing high-strength polyethylene to gain a competitive advantage. High-strength polyethylene is a type of polymer material with superior tensile strength and durability, commonly used in applications requiring robust lightweight components. For instance, in March 2022, Sumitomo Chemical Co., Ltd., a Japan-based chemical company, launched Sumicle, a high-strength polyethylene (PE) designed for plastic packaging and containers. Utilizing Sumicle as the primary material for plastic packaging and containers enables the creation of single-material packaging solutions made from PE. The packaging structure involves employing a polyolefin such as PE for the inner sealing layer, while the outer base layer is made from a rigid material such as nylon or polyethylene terephthalate (PET) with excellent self-supporting properties.

Alpek's Acquisition Of Octal Expands Capacity In Pet Laminate Segment

In May 2022, Alpek, S. A. B. de C. V, a Mexico based chemical manufacturing company, acquired OCTAL Holding SAOC for $620 million. Through this acquisition, Alpek aims to gain entry into the expanding and lucrative PET laminate segment, augmenting its capacity by over 1 million tons. OCTAL Holding SAOC is an Oman-based packaging manufacturer specializing in amorphous polyethylene terephthalate (PET) sheets. Asia-Pacific was the largest region in the amorphous polypropylene terephthalate market in 2023.The regions covered in the amorphous polypropylene terephthalate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the amorphous polypropylene terephthalate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain. The amorphous polypropylene terephthalate market consists of sales of polyethylene terephthalate (PET) and polybutylene terephthalate (PBT). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The amorphous polypropylene terephthalate market research report is one of a series of new reports from The Business Research Company that provides amorphous polypropylene terephthalate market statistics, including amorphous polypropylene terephthalate industry global market size, regional shares, competitors with an amorphous polypropylene terephthalate market share, detailed amorphous polypropylene terephthalate market segments, market trends and opportunities, and any further data you may need to thrive in the amorphous polypropylene terephthalate industry. This amorphous polypropylene terephthalate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Ethylene Propylene Diene Monomer Market Definition And Segments

Ethylene propylene diene monomer refers to a synthetic rubber composed of ethylene, propylene, and diene monomers that is resistant to outdoor and high-temperature conditions. It exhibits properties such as ozone, UV, heat, polar solvents, water-based chemicals, and ageing resistance due to its stable polymer backbone structure. Ethylene propylene diene monomers are used for roofing for waterproofing, as EPDM seals. The manufacturing process of ethylene propylene diene monomer market includes a solution polymerization process, slurry and suspension process, and gas-phase polymerization process. Solution polymerization refers to a method of polymerization where a monomer is combined with a hydrocarbon solvent and a catalyst, which results in a polymer. This process allows easy heat transfer in solvents, generates a low viscosity mixture, is simple and economical, and the bulk polymer does not require any additives. The sales channel of ethylene propylene diene monomer includes direct sales and indirect sales. The application of ethylene propylene diene monomer includes automotive, building and construction, manufacturing, electrical and electronics, and other applications. The ethylene propylene diene monomer market covered in this report is segmented – 1) By Manufacturing Process: Solution Polymerization Process, Slurry And Suspension Process, Gas-Phase Polymerization Process 2) By Sales Channel: Direct Sales, Indirect Sales 3) By Application: Automotive, Building, And Construction, Manufacturing, Electrical And Electronics, Other Applications The ethylene propylene diene monomer market size has grown strongly in recent years. It will grow from $4.16 billion in 2023 to $4.53 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to automotive industry growth, construction and infrastructure development, replacement of traditional materials, enhanced durability, environmental regulations. The ethylene propylene diene monomer market size is expected to see strong growth in the next few years. It will grow to $6.39 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to automotive electrification, solar energy installations, infrastructure rehabilitation, resilient roofing, low voc requirements. Major trends in the forecast period include electric vehicle (ev) sealing, 3d printing applications, advanced sealing technology, advanced sealing technology, customized epdm compounds.

Growing Demand For Zero-Emission Vehicles Accelerates The Ethylene Propylene Diene Monomer (EPDM) Market

The increase in demand for zero-emission vehicles is driving the growth of the ethylene propylene diene monomer market. Zero-emission vehicles mean vehicles that do not emit harmful gases or pollutants and offer a wide range of advantages, such as low maintenance costs, low running costs and zero tailpipe emissions. Ethylene propylene diene monomer is utilized in zero-emission vehicles because it has noise-reducing qualities and attaches readily to metal, providing a solid barrier against weather, road surface, and engine vibration. According to the International Energy Agency (IEA) report, sales of electric cars reached 3 million units in 2020, a 40% increase from previous year, and are estimated to reach 300 million units by 2030. Therefore, the increase in demand for zero-emission vehicles is driving the ethylene propylene diene monomer market.

Construction Industry Growth Expected To Propel Ethylene Propylene Diene Monomer Market Expansion

The increasing construction industry is expected to drive the growth of the ethylene propylene diene monomer market forward. The construction industry refers to a wide range of activities related to the planning, design, development, construction, renovation, and maintenance of physical structures and infrastructure. Ethylene propylene diene monomer is a versatile material used in construction due to its ability to provide long-lasting protection against the elements and contribute to the structural integrity and energy efficiency of buildings. For instance, in September 2023, according to reports shared by the United States Census Bureau, a US-based government agency, the overall value of residential and non-residential construction in the US increased by over 8% between 2020 and 2021. Furthermore, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, global construction output in 2020 stood at US$10.7 trillion. It is projected to experience substantial growth of approximately 42%, adding US$4.5 trillion and reaching a total of US$15.2 trillion by the year 2030. Therefore, the increasing construction industry is expected to propel the growth of the ethylene propylene diene monomer market. Major companies operating in the ethylene propylene diene monomer market include The Dow Chemical Company, Exxon Mobil Corporation, Firestone Building Products Company LLC, Johns Manville Inc., KUMHO POLYCHEM, The Goodyear Tire & Rubber Company, Kumho Polychem, Carlisle Companies Inc., PetroChina, Versalis S.p.A., Sumitomo Chemical, JSR Corporation, Nizhnekamskneftekhim, Polimeri Europa, Jilin Xingyun Chemical, Lion Elastomers, Eni Versalis, Arlanxeo, Mitsubishi Chemical Corporation, Zhejiang Cenway New Materials, Formosa Plastics Corporation, SABIC, TSRC Corporation

Innovative Products Driving The Ethylene Propylene Diene Monomer (EPDM) Market

Product innovation is a key trend gaining popularity in the ethylene propylene diene monomer market. Major market players are concentrating on creating innovative products for delivering durable, high-performance products to meet industry demand in response to technology improvements, membrane research, and contractor requirements for more ergonomic products. For instance, in January 2021, InterApp, a Swiss valves and actuators manufacturing company launched new innovative EPDM liner for its rubber lined butterfly valves Desponia and Desponia plus. The new EPDM liner boasts improved compression set and mechanical properties compared to other rubber compounds such as silicones or fluor elastomers. It is created for working conditions up to 16 bars. The company aims to fulfil the increasing demand for an elastomer compound in extreme temperatures and steam applications.

Major Companies Expand Production Capacity To Meet Growing Demand For Ethylene Propylene Diene Monomer (EPDM)

Major companies operating in the ethylene propylene diene monomer market are focusing on production capacity expansion to meet the growing demand for ethylene propylene diene monomer in the automotive, construction, and other industries. For instance, in March 2022, Arlanxeoa, a Netherlands-based synthetic rubber company, announced that it increased its ethylene propylene diene monomer (EPDM) production capacity by 15% at its Changzhou plant in China in order to meet the growing demand for EPDM in the automotive, construction, and other industries. The increase in production capacity was achieved through the implementation of efficiency improvement measures at the plant.

Strategic Acquisition Enhances Kumho Petrochemicals' Leadership In Synthetic Rubber Industry

In May 2021, Kumho Petrochemicals, a South Korea-based chemical company, acquired Kumho Polychem for an undisclosed amount. The acquisition of Kumho Polychem aimed to strengthen Kumho Petrochemicals’ competitive advantage in the synthetic rubber business. Kumho Polychem is a South Korea-based chemical company that manufactures ethylene propylene diene monomer. Asia-Pacific was the largest region in the ethylene propylene diene monomer market in 2023. North America was the second-largest region in the ethylene propylene diene monomer market. The regions covered in the ethylene propylene diene monomer market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the ethylene propylene diene monomer market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The ethylene propylene diene monomer market consists of sales of vinyl norbornene (VNB), dicyclopentadiene (DCPD), and ethylidene norbornene (ENB). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The ethylene propylene diene monomer market research report is one of a series of new reports from The Business Research Company that provides Ethylene propylene diene monomer market statistics, including ethylene propylene diene monomer industry global market size, regional shares, competitors with ethylene propylene diene monomer market share, detailed Ethylene propylene diene monomer market segments, market trends and opportunities, and any further data you may need to thrive in the ethylene propylene diene monomer industry. This ethylene propylene diene monomer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Polypropylene-Plastic Material And Resins Market Definition And Segments

Polypropylene is a thermoplastic polymer produced by chain-growth polymerization of the monomer propylene and is used in automotive fittings and industrial fibers. It is resilient, resistant to fatigue, and highly resistant to most acids and alkalis. The main product types of polypropylenes are homopolymer and copolymer. A homopolymer is a polymer-like polyethylene that contains identical monomer units. The applications are fibre, film and sheet, raffia, and other applications. The end-use industries are packaging, automotive, consumer products, electrical and electronics, and other end-user industries. The polypropylene-plastic material and resins market covered in this report is segmented – 1) By Product Type: Homopolymer, Copolymer 3) By Application: Fiber, Film and Sheet, Raffia, Other Applications 2) By End User Industry: Packaging, Automotive, Consumer Products, Electrical and Electronics, Other End-user Industry The polypropylene-plastic material and resins market size has grown strongly in recent years. It will grow from $139.82 billion in 2023 to $153.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to packaging industry, automotive sector, consumer goods, construction and building materials. The polypropylene-plastic material and resins market size is expected to see strong growth in the next few years. It will grow to $217.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to sustainable and recyclable materials, renewable energy and electric vehicles, packaging innovation, advanced healthcare devices. Major trends in the forecast period include bio-based polypropylene, advanced additive manufacturing, high-performance formulations, smart materials.

Growing Demand For Thermoplastic Materials Fuels Polypropylene Market Growth

Rising demand for thermoplastic materials has contributed to the growth of the polypropylene market. Due to their unique chemical properties, thermoplastic materials can be recycled and remolded without affecting their physical properties. As a result, thermoplastic materials are far more useful in a wide range of applications, including clothing, packaging, food, and beverages. Additionally, they are also used in heavy-duty applications such as the aerospace, military, and medical industries. According to American Freedonia Group data, the global Thermoplastic Elastomer (TPE) market surpassed $ 24 billion and market demand reached 6.7 million tons in 2019, which will grow at a rate of 5.2% every year in the future. The rising demand for thermoplastic materials increased the demand for the polypropylene market, thereby driving the market.

Rising Automotive Sector Drives Growth In The Polypropylene-Plastic Material And Resins Market

The rising demand for automotive sector is expected to propel the growth of the polypropylene-plastic material and resins market going forward. Automotive sector refers to the collection of companies, organizations, and businesses involved in the design, development, manufacturing, marketing, and sale of motor vehicles.Polypropylene-plasticis used to manufacture a variety of interior components, including dashboard panels, door trims, center consoles, and instrument panels. Its lightweight nature and ability to be molded into complex shapes make it ideal for interior design.For instance, in March 2022, according to a report published by the European Automobile Manufacturers' Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the rising demand for automotive sector is driving the growth of the polypropylene-plastic material and resins market. Major companies operating in the polypropylene-plastic material and resins market include LyondellBasell Industries Holdings BV, China Petroleum & Chemical Corporation, SABIC innovations Plastics US LLC, ExxonMobil Chemical Company, Braskem, PetroChina Company Limited, Reliance Industries Limited, Formosa Plastics Corporation, Borealis AG, Asahi Kasei Plastics North America Inc., Mitsui Chemicals Inc., DuPont de Nemours Inc., INEOS AG, TotalEnergies SE, Sumitomo Chemical co. Ltd., Dynachem & Co. Ltd., HMC Polymers Co. Ltd., Scott Bader Company Limited, Dow Chemical Company, BASF SE, Toray Industries Inc., Lotte Chemical Corporation, Covestro AG, Huntsman International LLC, Westlake Corporation, Eastman Chemical Company, Formosa Plastics Corporation USA, INEOS Olefins & Polymers USA LLC, Chevron Phillips Chemical Company LP, Trinseo LLC, Pinnacle Polymers LLC, Flint Hills Resources LLC

Challenges Posed By Fluctuating Crude Oil Prices In The Polypropylene Market

Variations in the prices of raw materials such as crude oil has always been a major challenge in the polypropylene market. Fluctuating crude oil prices increase the operating expenses, affecting the bottom lines of manufacturing companies in this market. For instance, according to the forecast in the most recent Short-Term Energy Outlook from the US Energy Information Administration (EIA) in 2021, Brent crude oil prices averaged $62.26 per barrel and $60.74 per barrel in 2022. Crude oil is the main source of petrochemicals as plastics are produced primarily from petroleum products. Therefore, crude oil prices are one of the key factors affecting plastic costs, making them very volatile. Volatile prices thereby have a negative impact on the polypropylene market, affecting the market’s growth.

Growing Adoption Of Eco-Friendly Polypropylene Compounds In The Automotive Industry

Eco-friendly polypropylene compounds are increasingly being used due to strict government rules and regulations over recycling and environmental protection. The polypropylene compounds possess unique qualities, making them more favourable as an alternative in the automotive industry. For example, Grand Siam Composites, a joint venture between SCG Chemicals, Mitsui Chemicals Inc., and Prime Polymer, has developed new technologies and inventions to produce high-quality products that are environmentally friendly. With those advancements, GSC’s polypropylene compounds are producing high-quality automobile parts such as consoles, instrument panels, bumpers, door panels, and various accessories.

Advancements In Polypropylene Technology For Enhanced Performance

Major companies operating in the polypropylene-plastic material and resins market are innovating new technologies such as polypropylene technologies to increase their profitability in the market. Polypropylene (PP) technology refers to the processes, methods, and techniques used in the production, processing, and modification of polypropylene plastic. For instance, in November 2022, Lummus Technology LLC, a US-based petrochemical company launched NovolenPPure polypropylene (PP) technology. The goal of NovolenPPure technology is to provide improved performance qualities to fulfill the changing demands of sectors including the automobile, packaging, and healthcare. Improved impact resistance, processability, chemical resistance, and mechanical characteristics are a few examples of this.

Lyondellbasell’S Acquisition Of Polypacific Polymers Sdn. Bhd

In June 2021, LyondellBasell, a Dutch chemical company, acquired PolyPacific Polymers Sdn. Bhd for an undisclosed amount. This acquisition of PolyPacific Polymers Sdn. Bhd, the manufacturing site will undergo a complete transition involving a change in brand name and its employees will become LyondellBasell’s employees. PolyPacific Polymers Sdn. Bhd. is an Australia-based company that manufactures, and markets reinforced and modified grades of polypropylene compounds. Asia-Pacific was the largest region in the polypropylene market in 2023. North America was the second-largest region in the global polypropylene market. The regions covered in the polypropylene-plastic material and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the polypropylene-plastic material and resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The polypropylene market consists of the sales of block copolymers, and random copolymers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The polypropylene market research report is one of a series of new reports from The Business Research Company that provides polypropylene market statistics, including polypropylene industry global market size, regional shares, competitors with a polypropylene market share, detailed polypropylene market segments, market trends and opportunities, and any further data you may need to thrive in the polypropylene industry. This polypropylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Propylene Glycol Market Definition And Segments

Propylene glycol is a water-absorbing synthetic liquid. Propylene glycol is typically used in the production of polyester compounds and as a base in deicing solutions. It works as an antifreeze in various sectors to avoid leakage that may result in propylene glycol getting in contact with food. The main sources of propylene glycol are petroleum-based and bio-based. Bio-based polypropylene is a polymer created from natural resources such as corn, sugar cane, vegetable oil, and other biomass. The various grades include industrial grade and pharmaceutical grade that are applied in animal feed, inks, lacquers, tobacco humectants, and varnishes. These are used by various end users, such as building and construction, consumer goods (cosmetics and personal care), electronics, food and beverages, paint and coatings, pharmaceuticals, the textile industry, tobacco, and transportation. The propylene glycol market covered in this report is segmented – 1) By Source: Petroleum-Based, Bio-Based 2) By Grade: Industrial Grade, Pharmaceutical Grade 3) By Application: Animal Feed, Inks, Lacquers, Tobacco Humectants, Varnishes 4) By End User: Building And Construction, Consumer Goods, Cosmetics and Personal Care, Electronics, Food And Beverages, Paint And Coatings, Pharmaceuticals, Textile Industries, Tobacco, Transportation The propylene glycol market size has grown strongly in recent years. It will grow from $4.45 billion in 2023 to $4.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to versatile applications, humectant and solvent properties, industrial manufacturing, food and beverage industry, pharmaceuticals, and personal care. The propylene glycol market size is expected to see strong growth in the next few years. It will grow to $6.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to bio-based propylene glycol, health and hygiene focus, food preservation and packaging, antifreeze, and coolants in automotive, industrial applications. Major trends in the forecast period include supply chain optimization, market expansion strategies, sustainability and regulations, research and development, industrial utilization.

Rising Demand For Processed Foods Ignites Propylene Glycol Market Growth

An increase in the consumption of processed foods is expected to propel the growth of the propylene glycol market going forward. Processed food is defined as any food that has been altered during the preparation process. Propylene glycol is used in processed foods as it is used as a preservative, flavor enhancer, and processing aid to enhance the appearance of foods. For instance, in April 2021, according to a report published by the Ministry of Commerce & Industry, India's exports of processed food products increased by 26.51 % during April–February (2020–21) compared to the same period in the previous year. Furthermore, in the first 11 months of the fiscal year (2020–21), exports of miscellaneous processed items such as Indian snacks, sauces, starch products, and vegetable flours increased by 36%. The total value of processed product exports was INR 437,980 million ($5.5 billion). Therefore, an increase in the consumption of processed foods is driving the growth of the propylene glycol market.

Propylene Glycol Market Surges As Cosmetic And Personal Care Industries Drive Demand

The expansion of the cosmetic and personal care industries is expected to propel the growth of the propylene glycol market going forward. The cosmetic and personal care industry refers to businesses that manufacture skincare, hair care, makeup, fragrances, toiletries, and personal hygiene products with the intention of improving appearance and preserving human health. Propylene glycol is used as a humectant and solvent in various cosmetic and personal care products, including skin care, hair care, and body care products due to its ability to retain moisture, improve texture, and enhance the stability of formulations. For instance, in August 2023, according to Circana, Inc., a US-based media company, sales of prestige beauty products in the US reached $14 billion in the first half of 2023, a 15% rise over the same period in 2022. On the other hand, the mass beauty market generated $28 billion and saw 9% growth. Therefore, the expansion of the cosmetic and personal care industries is driving the growth of the propylene glycol market. Major companies operating in the propylene glycol market report are Archer-Daniels-Midland Company, BASF SE, The DOW Chemical Company, Bio-Chem Technology Group Co. Ltd., LyondellBasell Industries N.V., Huntsman Corporation, SKC CO. Ltd., INEOS Group Holdings Limited, Manali Petrochemicals Limited, DowDuPont Inc., Royal Dutch Shell PLC, ADEKA Corporation, Chaoyang Chemicals Inc., Temix International SRL, Helm AG, Repsol S.A., Arch Chemicals Inc., HaiKe Chemical Group, Global Bio-chem Technology Group Co. Ltd., DuPont Tate & Lyle Bio Products LLC, Flint Group Holdings Limited, Hubergroup Deutschland GmbH, Wikoff Color Corporation, Zeller+Gmelin GmbH & Co. KG, Marabu GmbH & Co. KG, Nutec Digital Ink Ltd., Chemicoat Co. Ltd., Oleon NV, Penta Manufacturing Company, Kraft Chemical Company

Innovation Product Evolution Embraces Propylene Glycol Market

Product innovation is a key trend gaining popularity in the propylene glycol market. Major companies operating in the propylene glycol market are developing innovative products to strengthen their position in the market. Bio-based propylene becomes increasingly important as health concerns increase. For instance, in March 2022, Evonik, a Germany-based chemical manufacturing company, launched its first renewable isophorone-based products by using renewable acetone for the CO2 footprint. The new isophorone products are chemically equivalent to their fossil-based predecessors and share the same processing, formulation, and performance traits. These products can assist the industry in drastically reducing its global warming potential and CO2 footprint compared to conventional isophorone products.

Hydrogen Peroxide Sector Forge Partnerships For Propylene Glycol Synthesis

Major companies involved in the production of propylene glycol are focused on collaborating with businesses operating in the hydrogen peroxide industries to synthesize propylene glycol (PG) from hydrogen peroxide and propylene and strengthen their position in the market. Strategic collaborations empower companies to forge alliances with other firms possessing the necessary expertise to transform their envisioned concepts into tangible realities. For instance, in October 2023, Dow Chemical Company, a US-based multinational chemical producing corporation and the largest producer of propylene glycol, collaborated with Evonik Industries AG, a Germany-based specialty chemicals company and manufacturer of hydrogen peroxide, to announce the launch and running of an innovative hydrogen peroxide to propylene glycol (HPPG) pilot plant at Evonik's Hanau, Germany. The plant enables the direct synthesis of propylene glycol (PG) from hydrogen peroxide and propylene using the unique HYPROSYN process.

Braskem And Sojitz Forge Global Partnership For Renewable MPG Technology

In April 2022, Braskem, a Brazil-based chemical manufacturing company, and Sojitz Corporation joined hands to bring renewable MPG (monopropylene glycol) technology to the market. With this merger, the joint venture would combine Braskem's in the industrial production and sale of chemicals and plastics made from renewable sources with Sojitz's presence in Asia, the Asia region that concentrates 80% of the global propylene glycol market and where its consumption is registered the highest. Sojitz is a Japan-based manufacturing company that is engaged in a wide range of businesses globally, including propylene glycol production. Asia-Pacific was the largest region in the propylene glycol market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the propylene glycol report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the propylene glycol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The propylene glycol market consists of sales of propylene glycol USP, inhibited propylene glycol, reclaimed propylene glycol, and dowfrost glycol. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The propylene glycol market research report is one of a series of new reports from The Business Research Company that provides propylene glycol market statistics, including propylene glycol industry global market size, regional shares, competitors with a propylene glycol market share, detailed propylene glycol market segments, market trends and opportunities, and any further data you may need to thrive in the propylene glycol industry. This propylene glycol market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Propylene-Petrochemicals Market Definition And Segments

Propylene petrochemical is a basic versatile chemical as ethylene used in the manufacture of common household items. Propylene is a component of the addition polymer poly (propane), and it is also used in the production of epoxy propane and propanol. The main types of propylene petrochemicals are homopolymers and copolymers. A homopolymer is a polymer like polyethylene consisting of identical monomer units. The various applications are injection molding, fiber and raffia, film and sheet, and blow molding. The end-user industries are automotive, construction, packaging, textiles, and other end-user industries. The propylene-petrochemicals market covered in this report is segmented – 1) By Type: Homopolymer, Copolymer 2) By Application: Injection Molding, Fiber & Raffia, Film & Sheet, Blow Molding 3) By End User Industry: Automotive, Construction, Packaging, Textile, Other End-Use Industries The propylene-petrochemicals market size has grown strongly in recent years. It will grow from $107.2 billion in 2023 to $113.14 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to the availability of feedstocks, demand for propylene-based products, developments in catalytic cracking and refining technologies, regulatory policies regarding emissions, global trade dynamics. The propylene-petrochemicals market size is expected to see strong growth in the next few years. It will grow to $140.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to the forecasted abundance of shale gas, emphasis on sustainability and circular economy principles, shift towards renewable energy sources, adoption of electric vehicles, forecasted geopolitical developments. Major trends in the forecast period include adoption of digital technologies, focus on bio-based propylene, rising investment in recycling infrastructure, adoption of advanced catalysts, increased integration in value chains.

Increased Demand For Propylene Expected Due To Growth In Automobile Industry

The propylene market is expected to benefit from growth in the automobile industry during the forecast period. Polypropylene is a polymer produced from the propylene monomer which is used in the automobile industry. Large-scale production of automobiles is leading to an increase in demand for polypropylene products, which are used in the manufacturing of battery cases and trays, bumpers, interior trim, instrument panels, fender liners, door trims, and other components. For instance, according to an estimation by Goldman Sachs, a US-based investment banking company, the global sales of new cars in emerging markets are expected to increase from 68 million in 2020 to 78 million by 2025. Thus, increased use of plastics in automobiles is expected to increase the demand for propylene during the forecast period.

E-Commerce Boom Fuels Expansion Of Propylene-Petrochemicals Market

The growing demand for e-commerce is expected to propel the growth of the propylene-petrochemicals market going forward. E-commerce or electronic commerce involves buying and selling products and services online. The rise of mobile devices and user-friendly mobile apps has made online shopping even more accessible and convenient, allowing users to shop on the go. Propylene-petrochemicals are used in e-commerce to offer shipping materials, such as bubble wrap and packing peanuts, to protect fragile items during shipping. For instance, in November 2023, according to the International Trade Administration, a US-based government agency, consumer e-commerce sales accounted for 36.3% of the UK retail sector in 2021 and are expected to reach $285.60 billion by 2025. Further, the average annual growth rate for eCommerce revenues in the UK is predicted to be 12.6% by 2025. Therefore, the growing demand for e-commerce is driving the growth of the propylene-petrochemicals market. Major companies operating in the propylene-petrochemicals market are AGC Chemicals, BASF SE, Chevron Phillips Chemical Company, China National Petroleum Corp. (CNPC), China Petrochemical Corporation, Dangote Industries Ltd., Eni SpA, Enterprise Products Partners L.P., Exxon Mobil Corporation., Formosa Plastics Group (FPG), Haldia Petrochemicals Ltd., Huntsman International LLC., Ineos Group Ltd., Linde, Reliance Industries Ltd., Repsol, Saudi Basic Industries Corp. (SABIC), Shanghai Secco, Sumitomo Chemical Co. Ltd., The Dow Chemical Company

Challenges Posed By Stringent Safety Regulations In Propylene Industry

Stringent safety regulations associated with the manufacture and transportation of propylene were a significant market restraint. Propylene is highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Propylene suppliers should invest in equipment, technologies, and processes to limit the toxic levels and chemical concentrations. These regulations increased the operating costs of companies in the propylene industry, thus limiting the scope for investments relating to the launch of new products and expansion into new markets, thereby affecting the market growth.

Adoption Of On-Purpose Propylene Production Technologies In Petrochemical Industry

Petrochemical companies are adopting on-purpose propylene production technologies to produce propylene as a sole product but not as an alternate or co-product. On-purpose propylene technology refers to a modified version of the traditional fluid catalytic cracking unit which increases propylene yield by 20% more than the actual output. Traditional sources for propylene, which include steam crackers and oil refineries, yield fewer propylene as a derivative or co-product due to a shift in feedstocks from naphtha to ethane. To meet the increased demand for propylene, petrochemical companies are investing in developing on-purpose technologies to accelerate the shortfall in propylene production. Major on-purpose technologies include propane dehydrogenation, methanol-to-olefins/methanol-to-propylene (MTO/MTP), high-severity fluidized catalytic cracking (HS-FCC), coal-to-olefins/coal-to-propylene (CTO/CTP), and gas-to-olefins (GTO). For Instance, major companies adopting this technology include BASF, Dow Chemical, ExxonMobil Chemical, and Sidi Kerir Petrochemicals Co (SIDPEC).

Strategic Partnerships Drive Innovation In Polypropylene Production

Major companies operating in the propylene-petrochemicals market are focusing on strategic partnerships to meet the growing demand for polypropylene. Through this partnership, it is possible to work together to decrease the amount of fossil fuels required to produce necessities like polypropylene. For instance, in September 2023, LanzaTech Inc., a US-based provider of gas fermentation technology, partnered with Opus 12, a US-based chemical technology company, to produce polypropylene from CO2. The companies aim to create ethanol from CO2 using Twelve's carbon transformation technology and LanzaTech's fermentation process. The partnership received a $200,000 grant from Impact Squared to pursue these developments, highlighting its potential for environmental impact.

Invista Acquires Propylene Business From Flint Hills Resources

In January 2022, Invista, a US-based fiber, resin and intermediates company acquired propylene business of Flint Hills Resources for an undisclosed amount. The acquisition includes chemical facilities in Houston and Longview, Texas, ownership of pipelines that supply facilities, and support employees. The deal added propylene portfolio to Invista and enables future growth. Flint Hills Resources is an American refining company. Asia-Pacific was the largest region in the propylene-petrochemical market in 2023. Middle East was the second-largest region in the propylene-petrochemicals market. The regions covered in the propylene-petrochemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the propylene-petrochemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea,; UK, USA, Canada, Italy, Spain. The propylene petrochemical market consists of the sales of propylene petrochemicals used in the production of acrylics, rubbing alcohol, epoxy glue, and carpets. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified). The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The propylene-petrochemical market research report is one of a series of new reports from The Business Research Company that provides propylene-petrochemical market statistics, including propylene-petrochemical industry global market size, regional shares, competitors with a propylene-petrochemical market share, detailed propylene-petrochemical market segments, market trends and opportunities, and any further data you may need to thrive in the propylene-petrochemical industry. This propylene-petrochemical market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Polypropylene is a thermoplastic polymer produced by chain-growth polymerization of the monomer propylene and is used in automotive fittings and industrial fibers. It is resilient, resistant to fatigue, and highly resistant to most acids and alkalis. The main products of polypropylene are homopolymer and copolymer. A homopolymer is a polymer like polyethylene containing identical monomer units. These are used in applications such as injection molding, fiber and raffia, film and sheet, and blow molding that are used by end users such as packaging, automotive, consumer products, electrical and electronics, and other industries. The global polypropylene market is segmented - 1) By Product Type: Homopolymer, Copolymer 2) By Application: Injection Molding, Fiber & Raffia, Film & Sheet, Blow Molding 3) By End User Industry: Packaging, Automotive, Consumer Products, Electrical and Electronics, Other End-User Industries The global polypropylene market size will grow from $126.75 billion in 2022 to $138.18 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global polypropylene is expected to grow to $192.13 billion in 2027 at a CAGR of 8.6%. Rising demand for thermoplastic materials has contributed to the growth of the polypropylene market. Due to their unique chemical properties, thermoplastic materials can be recycled and remolded without affecting their physical properties. As a result, thermoplastic materials are far more useful in a wide range of applications, including clothing, packaging, food, and beverages. Additionally, they are also used in heavy-duty applications such as the aerospace, military, and medical industries. According to the American Chemistry Council, the production of plastic resins, which serve as the foundation for all plastic products, climbed 0.9 percent in the United States in 2020, compared to 1.2 percent in 2019. The rising demand for thermoplastic materials increased the demand for the polypropylene market, thereby driving the market. Major players in the polypropylene market are Lyondellbasell, Sinopec, Sabic, Exxon Mobil, Braskem, PetroChina, Reliance Industries, Formosa Plastics, Borealis, and Asahi Kasei Plastics. Variations in the prices of raw materials such as crude oil have always been a major challenge in the polypropylene market. Fluctuating crude oil prices increase the operating expenses, affecting the bottom lines of manufacturing companies in this market. For instance, according to the ‘Business Standard’, polypropylene became costlier by 4.6% due to rising oil prices. Crude oil is the main source of petrochemicals as plastics are produced primarily from petroleum products. Therefore, crude oil prices are one of the key factors affecting plastic costs, making them very volatile. Volatile prices thereby have a negative impact on the polypropylene market, affecting the market’s growth. Eco-friendly polypropylene compounds are increasingly being used due to strict government rules and regulations over recycling and environmental protection. The polypropylene compounds possess unique qualities, making them more favorable as an alternative in the automotive industry. For example, Grand Siam Composites, a joint venture between SCG Chemicals, Mitsui Chemicals Inc., and Prime Polymer, has developed new technologies and inventions to produce high-quality products that are environmentally friendly. With those advancements, GSC’s polypropylene compounds are producing high-quality automobile parts such as consoles, instrument panels, bumpers, door panels, and various accessories. In June 2021, LyondellBasell, one of the world’s major plastics, chemicals, and refinery firms based in the Netherlands, acquired PolyPacific Polymers. This acquisition contributes to LyondellBasell’s expansion of its polypropylene business. PolyPacific Polymers Sdn Bhd is a Malaysian firm that produces modified polypropylene olefin compounds. Asia-Pacific was the largest region in the polypropylene market in 2022. North America was the second-largest region in the global polypropylene market. The regions covered in the global polypropylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the polypropylene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The polypropylene market consists of the sales of block copolymers, and random copolymers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The polypropylene market research report is one of a series of new reports from The Business Research Company that provides polypropylene market statistics, including polypropylene industry global market size, regional shares, competitors with a polypropylene market share, detailed polypropylene market segments, market trends and opportunities, and any further data you may need to thrive in the polypropylene industry. This polypropylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Propylene is a basic versatile chemical as ethylene used in the manufacture of common household items. Propylene is a component of the addition polymer poly (propane), and it is also used in the production of epoxy propane and propanol. The main derivatives of propylene are polypropylene, propylene oxide, cumene, acrylonitrile, acrylic acid, acrylates, alcohols, and other derivatives. Polypropylene is a synthetic resin built by the polymerization of propylene. These are used in various applications of organic chemical raw materials, synthetic resins, fine chemicals, and other applications that are implemented by end-user industries such as automotive, construction, packaging, textile, and other end-use industries. The global propylene market is segmented - 1) By Derivatives: Polypropylene, Propylene oxide, Cumene, Acrylonitrile, Acrylic acid & Acrylates, Alcohols, Other Derivatives 2) By Application: Organic Chemical Raw Materials, Synthetic Resins, Fine Chemicals, Other Applications 3) By End User Industry: Automotive, Construction, Packaging, Textile, Other End-Use Industries The global propylene market size will grow from $104.04 billion in 2022 to $107.4 billion in 2023 at a compound annual growth rate (CAGR) of 3.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global propylene is expected to grow to $121.74 billion in 2027 at a CAGR of 3.2%. The propylene market is expected to benefit from growth in the automobile industry during the forecast period. Polypropylene is a polymer produced from the propylene monomer which is used in the automobile industry. Large-scale production of automobiles is leading to an increase in demand for polypropylene products, which are used in the manufacturing of battery cases and trays, bumpers, interior trim, instrument panels, fender liners, door trims, and other components. According to the International Energy Agency, car sales reached 73 million in 2020 and are expected to increase more in the future. Thus, increased use of plastics in automobiles is expected to increase the demand for propylene during the forecast period. Major players in the propylene market are AGC Chemicals, Archer Daniels Midland Company, Asahi Kasei Corporation, BASF SE, Chevron Phillips Chemical Company, China National Petroleum Corp. (CNPC), China Petrochemical Corporation, Dangote Industries Ltd., Eni SpA, and Enterprise Products Partners L.P. Stringent safety regulations associated with the manufacture and transportation of propylene were a significant market restraint. Propylene is highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Propylene suppliers should invest in equipment, technologies, and processes to limit the toxic levels and chemical concentrations. These regulations increased the operating costs of companies in the propylene industry, thus limiting the scope for investments relating to the launch of new products and expansion into new markets, thereby affecting the market growth. Petrochemical companies are adopting on-purpose propylene production technologies to produce propylene as a sole product but not as an alternate or co-product. On-purpose propylene technology refers to a modified version of the traditional fluid catalytic cracking unit which increases propylene yield by 20% more than the actual output. Traditional sources for propylene, which include steam crackers and oil refineries, yield fewer propylene as a derivative or co-product due to a shift in feedstocks from naphtha to ethane. To meet the increased demand for propylene, petrochemical companies are investing in developing on-purpose technologies to accelerate the shortfall in propylene production. Major on-purpose technologies include propane dehydrogenation, methanol-to-olefins/methanol-to-propylene (MTO/MTP), high-severity fluidized catalytic cracking (HS-FCC), coal-to-olefins/coal-to-propylene (CTO/CTP), and gas-to-olefins (GTO). For instance, major companies adopting this technology include BASF, Dow Chemical, ExxonMobil Chemical, and Sidi Kerir Petrochemicals Co (SIDPEC). In January 2022, Invista, a US-based fiber, resin and intermediates company acquired propylene business of Flint Hills Resources for an undisclosed amount. The acquisition includes chemical facilities in Houston and Longview, Texas, ownership of pipelines that supply facilities, and support employees. The deal added propylene portfolio to Invista and enables future growth. Flint Hills Resources is an American refining company. The Asia-Pacific was the largest region in the propylene market in 2022. North America was the second-largest region in the global propylene market. The regions covered in the global propylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the propylene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The propylene market consists of the sales of propylene used in the production of acrylics, rubbing alcohol, epoxy glue, and carpets. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The propylene market research report is one of a series of new reports from The Business Research Company that provides propylene market statistics, including propylene industry global market size, regional shares, competitors with a propylene market share, detailed propylene market segments, market trends and opportunities, and any further data you may need to thrive in the propylene industry. This propylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.