Market Summary:

The global polypropylene market size was USD 100 Billion in 2022 and is expected to register a revenue CAGR of 6% over the forecast period, according to the latest report by Reports and Data.

Polypropylene, an adaptable synthetic polymer, finds application in a diverse array of fields owing to its unique attributes such as remarkable rigidity, exceptional tensile potency, and remarkable resilience against chemical agents. Furthermore, the escalating utilization of polypropylene in the packaging of Food & Beverage (F&B), Cosmetics, and pharmaceutical products is poised to propel the market's revenue growth.

Polypropylene is widely favored across various applications for its ability to impart durability and provide protection. In the automotive sector, polypropylene plays a crucial role as it offers lightweight characteristics, cost-effectiveness, and recyclability. It finds applications in numerous vehicle components, including bumpers, interior trims, and door panels. Similarly, the construction industry relies on polypropylene due to its robust chemical resistance and durability, which make it suitable for applications such as pipes, insulation, and roofing.

Furthermore, the growing demand for affordable and secure medical equipment and packaging materials is expected to contribute to the market's revenue growth. In the healthcare sector, polypropylene is extensively used due to its non-toxic and non-reactive properties, making it suitable for medical devices, surgical tools, and packaging materials. Additionally, the increasing adoption of environmentally friendly and sustainable products is anticipated to drive market revenue growth. Polypropylene is favored by numerous industries as it aligns with sustainability goals and environmentally conscious practices.

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Strategic Development:

• In 2021, LyondellBasell announced that it was expanding its polypropylene compounding capacity in Europe, with a new production line at its existing facility in Poland. The expansion was aimed at meeting the growing demand for lightweight and sustainable materials in the automotive industry.

• In 2020, INEOS Group completed the acquisition of BP's global Aromatics and acetyls business, which included a polypropylene plant in Decatur, Alabama. The acquisition was aimed at expanding INEOS's presence in the North American market and increasing its production capacity.

• In 2020, Total S.A. announced that it had entered into an agreement with PureCycle Technologies to develop a new recycling facility for polypropylene. The facility was aimed at producing high-quality recycled polypropylene that can be used in various applications, including packaging, automotive, and consumer goods.

• In 2020, SABIC launched a new range of high-impact polypropylene copolymers that are designed for use in automotive applications. The new range, called STAMAX, offers excellent impact resistance and dimensional stability, making it ideal for use in exterior and interior automotive parts.

• In 2020, ExxonMobil Chemical announced that it had developed a new polypropylene grade, called Achieve Advanced PP, that offers improved performance and reduced environmental impact. The new grade is designed for use in various applications, including packaging, automotive, and consumer goods.

The United States Environmental Protection Agency (EPA) controls polypropylene production and usage through a variety of rules, including those pertaining to hazardous air pollutants, Volatile Organic Compounds (VOCs), and other criterion pollutants.

In Europe, the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) Regulation established safety requirements for substances produced or imported into the European Union and limits the use of certain materials, such as polypropylene, that are known to be carcinogenic or toxic to reproduction.

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