New York, United States, Sept. 13, 2022 (GLOBE NEWSWIRE) -- There is a huge demand for effective plastic packaging products, especially in the healthcare and food packaging industries. Polypropylene is best suited for packaging due to its properties, such as tensile strength, good chemical and heat resistance, durability, which retains the quality of the product.
Further, the COVID-19 pandemic has reemphasized the indispensable role of plastics in our daily life. Due to their inherent properties, polypropylene in the form of personal protective equipment (PPEs) and other single-use medical equipment, as well as packaging solutions, have emerged as a life-saver for protecting the health and safety of frontline health workers and ordinary citizens during the pandemic.
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Polypropylene is used in various medical applications, including devices, drug-delivery systems, non-woven fabrics, and medical-grade packaging. Due to its unique properties, it is widely used as a critical component in medical implant operations. Polypropylene in the medical devices segment in the United States was valued at USD 247.7 million in 2018 and is expected to grow in the future.
The polypropylene market is expanding due to increased demand for lightweight polymers from consumer goods, electronics, and automotive industries. The automotive industry is also one of the largest end-use industries of polypropylene. Polypropylene is the most frequently used plastic in automobiles due to its easy processability, good sealing, and stiffness. Exponentially rising demand for electric and hybrid electric vehicles (EV/HEV) is propelling the demand for polypropylene further and is likely to augment the market growth in the future. According to Edison Electric Institute (EEI), there were 1 million electric cars on the roads in 2018, and it is estimated to reach 18 million by 2025.
Besides polypropylene, other plastic materials such as polyethylene (PE) and polyethylene terephthalate (PET) compete with polypropylene. These substitutes, particularly polyethylene, have properties that are similar to polypropylene. Their market availability is gradually increasing, posing a threat to the growth of the polypropylene market.
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Regional Analysis The Asia-Pacific region dominated the Polypropylene market in 2020 and is expected to maintain its dominance through the forecast period until 2030. Growing demand for polypropylene from the packaging and automotive industries, particularly in emerging markets such as China, India, and Japan, is expected to drive the Asia Pacific market.
The growing demand for polypropylene by the food and beverage industries in the United States, Canada, and Mexico will drive the North American Polypropylene market. In the United States, the flexible packaging market is growing swiftly, owing to its benefits, such as easy handling, compact packaging, and lightweight. The U.S. packaging industry was valued at USD 181.92 billion in 2019. It is expected to reach a value of USD 216.36 billion by 2025, at a CAGR of 4.5% from 2020–2025. This positive momentum is expected to drive the growth of the polypropylene market over the forecast period. The polypropylene market, with its diversified applications globally, is a booming market.
Key players in the global Polypropylene market are
● Medical ● Packaging ● Consumer Goods ● Automotive ● Building ● Construction
4.3 Porter's Five Forces Analysis
5.1.1 Market Size and Forecast (Value)
5.2.1 Market Size and Forecast (Value)
5.3.1 Market Size and Forecast (Value)
6.1.1 Market Size and Forecast (Value)
6.2.1 Market Size and Forecast (Value)
6.3.1 Market Size and Forecast (Value)
6.4.1 Market Size and Forecast (Value)
6.5.1 Market Size and Forecast (Value)
6.6.1 Market Size and Forecast (Value)
6.7.1 Market Size and Forecast (Value)
6.8.1 Market Size and Forecast (Value)
7.1.1 Market Size and Forecast (Value)
7.6 The Middle East and Africa
7.6.5 The Rest of the Middle East
8 Competitive Landscape — Manufacturers and Suppliers
Table of Content and Figure @ https://straitsresearch.com/report/polypropylene-market/toc
North American Market to Hold Substantial Share in the Polypropylene Market
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