Polypropylene Market Growth & Trends

The global polypropylene market size is expected to reach USD 146.2 billion by 2027, according to a report by Grand View Research, Inc., expanding at a CAGR of 3.1% from 2020 to 2027. Increasing product demand from the packaging, automotive, electrical and electronics, and a few other application industries is expected to propel market growth. Moreover, growing demand for lightweight product from these sectors is expected to be a key driver for the market.

Polypropylene (PP) is a thermoplastic linear hydrocarbon polymer resin, with little or no unsaturation. It is a semi rigid and translucent material, which does not present stress-cracking problems and offers excellent chemical and electrical resistance at high temperatures. Polypropylene is a versatile product because of which it is used in numerous industries, such as toy making, automobile, carpeting, paper, and manufacturing of laboratory equipment. Rising demand for polypropylene from the end-use industries, such as packaging, construction, and especially automobile, owing to increasing demand for lightweight vehicles is driving the global market.

The packaging industry emerged as the largest end-use industry of polypropylene in 2019 owing to its unique properties, such as stiffness and twist retention, making it an efficient material for packaging. For the consumer products segment, polypropylene is extensively used in packing of soaps, detergents, and toiletries as well as in the packing of some perishable food items, such as yoghurt. In the electrical and electronics segment, it is used in the production of switch boards, insulation cables, and capacitors because of its high electric shock resistance. The automobile industry uses polypropylene because of its moldability, mechanical properties, and availability in lower cost as compared to other plastics.

Asia Pacific emerged as the largest regional market for polypropylene in 2019 owing to high demand from growing end-use industries. Demand in Europe is expected to rise over the forecast period as manufacturers of this region are gradually using polypropylene more than the conventional materials, like glass and metal.

Polypropylene Market Report Highlights

  • The global market is expected to witness significant growth over the forecast period owing to rising product demand from the packaging and automotive end-use industries
  • The market in U.S. is anticipated to reach USD 18.9 billion by 2027 owing to growing demand for polypropylene from various end-use industries
  • Asia Pacific is projected to witness the fastest growth over the estimated period owing to rapid economic growth across countries, such as India, China, Japan, and Korea
  • Rapid development of the construction and automotive manufacturing industries in APAC is also fueling the product demand in the regional market.