At this thriving rate, demand for polypropylene random copolymers is expected to register a valuation of US$ 101.32 billion by 2033
Polypropylene Random Copolymers are versatile thermoplastics used in various applications like pipes and packaging. Their unique molecular structure, combining propylene and ethylene monomers, enhances flexibility and impact resistance. PP-R's favorable balance of strength and flexibility makes it an ideal choice for manufacturing durable, lightweight products across different industries.
The global polypropylene random copolymers market is
projected to reach a valuation of US$ 41.94 Billion in 2023.
The trend is estimated to create new opportunities for the market, leading to
an assumed CAGR of 10.5% between 2023 and 2033. The market is
likely to reach a total valuation of US$ 101.32 Billion by
2033.
The growth of the polypropylene random copolymers
market is anticipated to be driven by the rise in consumption of
polypropylene (PP) in end-use industries like automotive, packaging, and
building and construction leading to an increase in fuel efficiency. This
factor is anticipated to be a key factor driving the market over the forecast
period.
Polypropylene faces significant competition from
plastic compounds. Polyethylene is dominantly used and manufactured from
plastic polymers. It can also be made into both soft and flexible products as
well as rigid and durable ones. Polyethylene can be formed into a variety of
shapes that range from the most basic to the most sophisticated.
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Key Takeaways from the Market Study:
- Europe
is anticipated to expand at a CAGR of 6.8% from 2023 to
2033. Asia Pacific is predicted to register at a CAGR of 5.7% from
2023 to 2033.
- Based
on application, the blow molding segment is likely to expand with a CAGR
of 6.89% from 2023 to 2033.
- Based
on end-users, the medical packaging segment is projected to register
a CAGR of 8.99% from 2023 to 2033.
- The
polypropylene random copolymers market insights rose at a 9.67%
CAGR between 2018 and 2022.
“The introduction of new application areas
has significantly expanded the market’s horizons and is considered to be one of
the key drivers of the polypropylene random copolymers market”, comments
a Future Market Insights analyst.
Competitive Landscape
The polypropylene random copolymers industry consists
of a consequential number of market players. Research and development are used
for introducing environment-friendly product lines from the core aspect of
these manufacturers. In addition, the industry players to reinforce their
position in the market also follow other expansion strategies, inclusive of
collaborations, mergers and acquisitions, and exploration of regulatory
approvals.
Key Companies Profiled
- LyondellBasell
Industries
- Braskem
- China
Petroleum & Chemical Corporation (Sinopec)
- Total
S.A.
- Entec
Polymers
- ExxonMobil
- Sasol
- Chevron
Corporation
- Royal
Dutch Shell
- ConocoPhillips
- Borealis
- Formosa
Plastics Group
- Reliance
Industries
- SABIC
Key Developments
- In
November 2022, Braskem announced the construction of a new Renewable
Innovation Center located in Lexington, Massachusetts at the Lexington
Labs at 10 Maguire Road in Lexington, MA owned by Greatland Realty
Partners.
- In
January 2023, ExxonMobil confirmed plans to move forward with a fifth oil
production project off the coast of Guyana.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified,
recipient of the Stevie Award, and a member of the Greater New York Chamber of
Commerce) offers profound insights into the driving factors that are boosting
demand in the market. FMI stands as the leading global provider of market
intelligence, advisory services, consulting, and events for the Packaging, Food
and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals
markets. With a vast team of over 5,000 analysts worldwide, FMI provides
global, regional, and local expertise on diverse domains and industry trends
across more than 110 countries.
Contact
Us:
Nandini Singh Sawlani
Future Market Insights Inc.
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