Asia Pacific Polypropylene random copolymer market is expected to observe a remarkable growth over the coming timeframe.
— Polypropylene Random Copolymer Market revenue is expected to experience a high surge, driven by escalating product demand across various food storage applications. Moreover, favorable product features such as high impact resistance, flexibility, light-weight, and transparency will contribute considerably towards the industry expansion. Global food containers sector, which is estimated to surpass USD 175 billion by 2024, is projected to influence the industry trends over the coming timeframe. Growing significance of artistic packaging and labeling among the food manufacturers is expected to favorably impact the global polypropylene random copolymer industry growth over the next few years.
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Booming healthcare, packaging, and building & construction sectors are expected to make significant contributions towards polypropylene random copolymer industry size over the coming timeframe. Polypropylene random copolymer market revenue in packaging sector is expected to grow significantly over the coming years, driven by high product demand for packaging applications. In addition to this, a significant rise in the working population across the world is projected to create a huge demand for packaged food & beverages, and this in turn will support the growth of polypropylene random copolymer market. Healthcare applications, which were estimated at USD 1 billion in 2015, are expected to boost industry expansion over the coming seven years. High product use to manufacture medical instruments and laboratory equipments, due to its heat-resisting and light-weight properties, will drive the expansion.
Polypropylene random copolymers are basically thermoplastic resins that are manufactured during the polymerization process of propylene. These resins have a wide range of seal initiation temperature, excellent gloss and transparency, high heat resistance, and aesthetic properties. On these grounds, PRC products are light weight, they possess high radiation resistance, and have the capacity of retaining the organoleptic properties of food. Consequently, these products are heavily used for manufacturing food containers made of plastic, glass, paperboard, and metal. As per estimates, global food container market was valued around USD 110 billion in 2015 and is forecast to cross a valuation of USD 175 billion by 2024, which is another factor driving polypropylene random copolymer market.
Polypropylene random copolymers find applications in blow molding, thermoforming, BOPP & blown films, pipes, injection molding, and transparency packaging. On these grounds, polypropylene random copolymer products are used principally across the healthcare, construction, and packaging sectors. Global polypropylene random copolymer market from packaging applications is slated to observe the maximum growth over the coming seven years, subject to the ever-growing packaging sector and the superior product properties. In addition, shifting consumer trends toward packaged meals will augment the packaging sector, which held more than 50% of the overall polypropylene random copolymer market in 2015.
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The rising F&B sector across Asia Pacific is one of key drivers of the regional polypropylene random copolymer market. With India, Japan, and China at the helm, APAC led the overall polypropylene random copolymer industry in the year 2015. Changing consumer lifestyles, increased middle class population, and rising disposable incomes of consumers will primarily drive APAC polypropylene random copolymer market, which is slated to experience the maximum gains of 5.5% over 2016-2024.
Key industry participants include LyondellBasell Industries, Reliance Industries Limited, Braskem Company, Entec Polymers, Sasol, China National Petroleum Corporation, Royal Dutch Shell plc, INEOS Olefins & Polymers USA, Pinnacle Polymers LLC, Formosa Plastics Corporation, Total Petrochemicals & Refining USA Incorporation, and Flint Hills Resources. According to Global Market Insights, Inc., “Polypropylene Random Copolymer market value, which was valued at USD 6 billion in 2015, is forecast to surpass USD 9 billion by 2024.”
Major Point From Table Of Content:
Chapter 4. Polypropylene Random Copolymer market End-use Insights
4.1. Global polypropylene random copolymer market share by end-use, 2015 & 2024
4.2.1. Polypropylene random copolymer market estimates and forecast, 2013 - 2024
4.2.2. Polypropylene random copolymer market estimates and forecast, by region, 2013 – 2024
4.3. Building & Construction
4.3.1. Market estimates and forecast, 2013 - 2024
4.3.2. Market estimates and forecast, by region, 2013 - 2024
4.4.1. Market estimates and forecast, 2013 - 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5.1. Market estimates and forecast, 2013 - 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
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