The increase in the end-use industry in the emerging nations and growth in alternate lifestyle are propelling the market for Polypropylene (PP) Resins.
The global Polypropylene (PP) Resins Market is forecast to reach USD 410.77 Billion by 2028, according to a new report by Reports and Data. A surge in demand for bioplastics is a significant trend in the global Polypropylene (PP) Resins market. They are biodegradable products that are derived from renewable and natural sources such as vegetable oil, potatoes, tapioca, pea starch, rice, sugar cane, cornstarch, grains, wheat, and cellulose from wood. Bioplastics are preferred over conventional plastics due to their eco-friendly nature.
The food and beverage sector is fueling the demand for Polypropylene (PP) Resins market along with consumer goods. The lucrative opportunity provided by the healthcare industry is also boosting market demand. Increasing application of the healthcare industry are also fueling the Polypropylene (PP) Resins market. Furthermore, various properties of Polypropylene (PP) Resins, such as its resistance to continuously changing weather conditions is another factor that will propel the market.
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Top Leading Players: Sinopec Corporation, SABIC, Petrochina Ltd., Borealis AG, Dowdupont Inc., MG Chemicals, Indorama Ventures Public Company Ltd., Braskem S.A., Far Eastern New Century Corporation, and Jiangsu Sanfangxiang Group Co., Ltd, among others.
Polypropylene (PP) Resins Market Future Analysis:
The PET resins market is expected to experience significant growth in the coming years due to the rising demand for PET packaging in various industries such as food and beverage, healthcare, and personal care. PET is a preferred choice of material for packaging due to its lightweight, durability, and recyclability.
The increasing focus on sustainable packaging is also driving the growth of the PET resins market. Governments and organizations across the world are taking steps to reduce plastic waste and promote the use of recyclable materials. PET is highly recyclable and can be used to make new products, which makes it an attractive option for manufacturers.
However, the PET resins market may face challenges due to the volatility of raw material prices and the increasing competition from alternative packaging materials. Manufacturers will need to keep innovating and improving their processes to stay competitive and meet the changing demands of customers.
Overall, the PET resins market is expected to experience steady growth in the coming years, driven by the increasing demand for sustainable packaging solutions.
Polypropylene (PP) Resins Market Further Key Finding from the Report Suggestion:
- Adhesive Resins held a market share of 37.2% in the year 2018. This type of resin shows high resistance to light and weathering meanwhile swelling very little in water. It also offers reduced flexibility and high saponification resistance. Adhesive resin is also used to enhance retention of both compomers and composites to tooth structure which helps in preventing bacterial microleakage.
- Low-density polyethylene (LDPE) is one of the products of Polypropylene (PP) Resins which dominates the market with a 21.9% market share in the year 2018. The polymer is formed by a wide variety of thermoplastic processing methods and are used in cost-effective and moisture resistant applications. High thermal expansion, poor weathering resistance, and flammable nature of the Polypropylene (PP) Resins market are limiting the product’s growth.
- Food and Beverage are forecasted to hold a market share of 27.3% in the year 2026. Plastic packaging of food and beverage products lowers the possibility of product contamination and also helps protect products from moisture, light, gas, and temperature.
- North America held a market share of 22.6% in the year 2018. Discovery of Shale Gas in the U.S. has pushed down the price of natural gas and has also increased the availability of Natural-gas Liquids (NGLs), including ethane. This is reshaping the country’s petrochemical competitiveness and ultimately, the competitiveness of plastic resins in the global platform.
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The global Polypropylene (PP) Resins market is segmented into:
Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)
- Adhesive Resins
- Barrier Resins
- Modifier Resins
Product Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)
- LDPE
- PP
- PET
- PVC
- HDPE
- PS EPS
- Others
Application Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)
- Food and Beverage
- Healthcare
- Consumer Goods
- Industrial
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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