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Description
Polypropylene Market size was valued at USD 115.9 billion in 2021, growing at a CAGR of 3.1% during the forecast period 2022-28. Polypropylene is widely used in medical devices, diverse laboratory equipment, manufacturing automotive components, labeling machines and packaging. It is a lightweight material, which has best mechanical and chemical properties. It forms with a number of higher properties like high tensile strength, low moisture resistance, resistant to numerous acids, chemical solvents and staining resistance. Several technologies are incorporated in the production of Polypropylene such as chisso, hypol sherizone, novolen, spheripol and many others. There are many factors boosting the growth of the Polypropylene market and mainly increasing the demand for lightweight and effective plastic from automotive and packaging industries. It works as a versatile polymer preferred by almost every modern industry. Emergence of technological advancements as well as applications make this market booming. Availability of many alternatives gives competition to Polypropylene. Numerous plastic materials like polyethylene, polyurethane, polystyrene and polyvinyl chloride can be used as an alternative to polypropylene. Polyethylene is regularly produced and used material as it can be molded in all types of shapes right from simple to complex one. it can be processed into hard and robust and flexible and soft products. All these major properties of Polyethylene make it a great substitute for polypropylene. Different small and medium scale industries dominated the polypropylene market serving to both local and global demands. It is typified by forward integration via distribution to different application companies, raw material production and polypropylene. R&D proposals by some industries to increase the market reach and augment their product requirements can add to the enhancement of the product demand in upcoming years.The crucial properties of polypropylene like high heat resistance, high clarity, low density, durability and lightweight make it an apt material in packaging industry. It is also used in electronics to make insulation of electronics and in construction and building. All these chief elements drive the growth for polypropylene. Furthermore, huge increase in the use of packing products is observed in both food packaging as well as medical application consequently increasing the demand for polypropylene in the epidemic situation too.
