Polypropylene is being increasingly used in food and beverage packaging, due to the rising consumer awareness regarding health and wellness. This form of plastic is primarily used in the production of safe packaging materials and microwave containers. Additionally, this plastic is also used in the industrial packaging and building and construction industries, due to its high tensile strength. Thus, the increasing demand for safe and rigid sustainable packaging will create an extensive requirement for polypropylene in the coming years.
Besides, the flourishing nonwoven polypropylene fiber industry will also help the polypropylene market advance at a CAGR of 5.7% during 2020–2030. According to P&S Intelligence, the market was valued at $94.3 billion in 2020, and it will generate $165.6 billion revenue by 2030. Nonwoven polypropylene is used in the production of hygiene and medical products, such as toddler training pants, infant diapers, adult diapers, and feminine hygiene pads. In recent years, the demand for this plastic has exponentially increased in Asian countries, due to the rising public awareness regarding hygiene and the mounting disposable income of people.
The type segment of the polypropylene market is bifurcated into copolymer and homopolymer. Of these, the homopolymer category generated higher revenue in 2020, and it is projected to continue this trend throughout the forecast period (2021–2030). This can be primarily credited to the high strength-to-weight ratio of this polypropylene, which makes it stronger and stiffer than copolymer polypropylene. Additionally, the excellent weldability and high-chemical resistance properties of this product make it ideal for corrosion-resistant structures.
Geographically, the Asia-Pacific (APAC) region accounted for the largest share in the polypropylene market in 2020, and it is expected to retain its dominance in the forecast years as well. This can be attributed to the surging government expenditure on research and development (R&D) of new polypropylene applications and the increasing consumption of flexible food packaging materials and electrical components in the region. Additionally, the presence of prominent players also contributes to the market growth in the region.
Therefore, the escalating demand for hygienic and rigid packaging materials and the growing nonwoven polypropylene industry will facilitate the production of polypropylene globally.
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