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.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global polypropylene random copolymers market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the polypropylene random copolymers market, it is segmented based on key Applications: (Blow Film, Blow Molding, Injection Molding, Extrusion Molding), End-use: (Medical Packaging, Food Packaging, Consumer Products) and by Region: (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding China & Japan, Japan, China, Middle East & Africa).
Key Segments Covered in the Polypropylene Random Copolymers Market Report
By Application:
- Blow Film
- Blow Molding
- Injection Molding
- Extrusion Molding
By End Use:
- Medical Packaging
- Food Packaging
- Consumer Products
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- The Middle East & Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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