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The report titled “Polypropylene Random Copolymer Market – Size, Share, Growth, Opportunities, and Competitive Analysis, 2022 – 2028” offers strategic visions into the global polypropylene random copolymer market along with the market size (Value in “US$ Mn”) for the historical period 2017 to 2021 and estimates for the forecast period 2022 to 2028. This study covers an in-depth analysis of multiple market segments based on Grade, Application, and End-use Industry across five different regions covering 20+ countries.
Key insights associated with forecast factors for the market during the forecast period 2022-2028 have also been covered. The report also provides the impact of COVID-19 on the global and regional polypropylene random copolymer market in the short, medium, and longer-term for conservative, likely, and optimistic scenarios, respectively.
Polypropylene Random Copolymer Market Dynamics
In the forecast years, rising demand for food containers is expected to boost the global polypropylene random copolymer market. Moreover, increased syringe demand for injectable medications will likely enhance the polypropylene random copolymer market throughout the forecast period. Furthermore, from 2015 through 2023, the beverage industry is expected to provide significant prospects for polypropylene random copolymer manufacturers. Due to its lightweight and clarity, polypropylene random copolymer is expected to replace the glass.
Polypropylene random copolymer is mostly used in the packaging industry. Transparency, rigidity, organoleptic characteristics, sealability, and heat resistance make polypropylene random copolymer one of the most effective food and beverage packaging materials. Polypropylene random copolymer is primarily utilized in large-scale food and storage container packaging. The healthcare business is the second-largest user of polypropylene random copolymer, which is used in syringes, labware, and bottles. Special grades of polypropylene random copolymer have been introduced for medical uses by large multinational corporations. It is mostly utilized in the construction industry for hot and cold water pipes. Hot and cold water pipes, VCD cases, toys, gearboxes, and other items are made of polypropylene random copolymer. Specimen cups, syrup bottles, IV bags, pouches, and tubes are all made from polypropylene random copolymer. Media packaging, toys, sports, furniture, automotive, and household appliances are among other applications of polypropylene random copolymer.
Segmental Analysis
How does the potential demand for blow molding impact Polypropylene Random Copolymer Market?
Blow molding and extrusion processes produce transparent bottles and containers, extruded sheets and profiles, thermoformed packaging, and stationery products. Bottles with high mechanical stiffness, high productivity, and excellent surface finishing are also required for blow-molded packaging for dairy beverages. Blow molding or injection stretch blow molding technologies are used in various industries, including the food sector, technical parts, and cosmetics.
Why is packaging as an end-use industry seen as an attractive segment?
Random copolymer PP has the highest transparency and the lowest HDT of any polymer. It is the most flexible product available and has a reasonable impact strength. Due to its better transparency and thermal resistance, rising product demand across packaging applications will drive industry expansion. Furthermore, an increase in the global working population has fueled demand for packaged foods, which has been analyzed to stimulate corporate growth.
Regional Analysis
Asia-Pacific accounted for the greatest share of the polypropylene random copolymer market due to changing lifestyles as customers steadily turn toward ready-to-eat and packaged food, primarily for food containers. The emergence of a middle class in China and India would also be instrumental factors in driving total growth. The regional economy is also fueled by a thriving food and beverage industry, which has resulted in increased commercial packaging applications.
In terms of revenue, Europe is the second-largest market for polypropylene random copolymer. This is due to the rise in the packaging sector, particularly in Russia. North America’s thriving healthcare business will also likely fuel demand for polypropylene random polymer. In addition, disposable syringes and labware are frequently made with polypropylene random polymer. As a result, the region is experiencing growth.
Competitive Landscape
Key players in the global polypropylene random copolymer market are focusing on continuous product innovation and expansion to improve their market position. For instance, in January 2022, SABIC introduced LNPTM ELCRINTM EXL7414B copolymer, the company’s first bio-based polycarbonate (PC) copolymer, to help the consumer electronics industry achieve its net-zero carbon emission goals. The new copolymer is the first in a growing collection to be awarded the ISCC+ (International Sustainability and Carbon Certification Plus) certification.
The polypropylene random copolymer market is seen as a consolidated market, backed by tier-1 players in the market who accounts for more than 50% of the global revenue. However, the emergence of new players is expected to further result in the distribution of market share at the regional level. Prominent players in the market include SCG Chemicals, China Petrochemical, Borealis, MOL GROUP, HYOSUNG, Indian Oil Corporation, Braskem, Petro Plus, LyondellBasell Industries Holdings, Lotte Chemical Corporation, SABIC, Formosa Plastics, Exxon Mobil and Japan Polypropylene Corporation.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has not only resulted in halted production activity but has also disrupted the global supply chain. It has wreaked havoc on the worldwide economy, causing significant disruption in all of the regions where key corporations, their suppliers, distributors, business partners, and customers operate. COVID-19 has moderately harmed the polypropylene random copolymer market in the face of lockdowns and social isolation.
COVID-19 affected the supply of propylene random copolymer as demand for oil products such as gasoline and polymers dropped. As a result, crude oil prices plummeted, entering the negative zone, due to a collapse in demand and a shortage of storage capacity for excess supply. Furthermore, operating rates have been reduced due to a decline in industrial activity in several industries and greater limits due to lockdown.
This has harmed the pricing of these products in Europe, as well as the growth of the market. On the other side, increased demand for processed goods due to the pandemic increased PP used in the packaging industry. In addition, alternative production movements based on polymers evolved due to the pandemic’s reduction in medical-hospital supplies and personal protective equipment for health professionals and the general public.
Key Questions Answered
. Some of the factors impacting the global polypropylene random copolymer market during the forecast period 2022-2028 are as follows:
i. Expanding Food Industry Drives the Growth for Polypropylene Random Copolymer
ii. Rising Demand for Metallocene-Based Polyolefin
iii. Increasing Usage of Polypropylene Random Copolymer in Various Sectors
3. The aforementioned factors facilitate numerous growth opportunities for the global polypropylene random copolymer market, which is poised to expand at a CAGR of more than 14% between 2022 and 2028.
a. The Asia Pacific region is expected to continue its dominance during the forecast period 2022-2028
Key Segments of Polypropylene Random Copolymer Market
Report Attribute/Metric
Details
Market Size
2028: ~ USD 17,000 Million
CAGR
~ 14.0% (2022-2028)
Base Year
2021
Forecast Period
2022 – 2028
Historical Data
2017 to 2021
Forecast Unit
Value (US$ Mn)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Grade, Application, and End-use Industry
Geographies Covered
North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key Players Analyzed
SCG Chemicals, China Petrochemical, Borealis, MOL GROUP, HYOSUNG, Indian Oil Corporation, Braskem, Petro Plus, LyondellBasell Industries Holdings, Lotte Chemical Corporation, SABIC, Formosa Plastics, Exxon Mobil, and Japan Polypropylene Corporation
Key Market Opportunities
Key Market Drivers
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Recommendation and Analysis
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition & Scope
3. Market Background and Foundation Data Points
3.1. Global Plastic Industry Outlook
3.2. Global Polypropylene Industry Outlook
3.3. Global Plastic Packaging Industry Outlook
3.4. Recent Developments in Polypropylene Random Copolymer Market Segment
3.5. Regulatory Policies and Landscape
3.6. Market White Space Assessment and Opportunity Analysis
3.7. Key Market Trend Analysis
3.7.1. By Grade
3.7.2. By Application
3.7.3. By End-use Industry
3.8. Development Patterns in Polypropylene Random Copolymer Market
3.9. Competitive Scenario and Trends
3.9.1. Market Concentration Rate, by Region
3.9.2. List of Emerging, Prominent and Leading Players
3.9.3. Mergers & Acquisitions
3.10. Scenario Forecast for Demand
3.10.1. Optimistic Scenario
3.10.2. Likely Scenario
3.10.3. Conservative Scenario
3.11. Macro-Economic Factors
3.12. Market Dynamics
3.12.1. Market Driving Factors and Impact Assessment
3.12.2. Prominent Market Challenges and Impact Assessment
3.12.3. Market Opportunities
3.12.4. Challenges in Polypropylene Random Copolymer
3.13. COVID-19 Impact on Market Value
3.13.1. Value Depreciation in 2021
3.13.2. Quarter-On-Quarter Impact and Recovery Assessment
3.14. Expected Demand Volume (Mn Units) and Value (US$ Mn) Recovery Curve
3.14.1. Likelihood of V-Shape Recovery
3.14.2. Likelihood of U-Shape Recovery
3.14.3. Likelihood of L-Shape Recovery
4. Global Polypropylene Random Copolymer Market - Pricing Analysis
4.1. Regional Pricing Analysis by Application
4.2. Pricing Break-up
4.3. Global Average Pricing Analysis Benchmark
5. Global Polypropylene Random Copolymer Market Demand (in Value in US$ Mn) Analysis 2017-2021 and Forecast, 2022-2028
5.1. Historical Market Value (US$ Mn) Analysis, 2017-2021
5.2. Current and Future Market Value (US$ Mn) Projections, 2022-2028
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Global Polypropylene Random Copolymer Market Analysis 2017-2021 and Forecast 2022-2028, By Grade
6.1. Introduction / Key Findings
6.2. Historical Market Value (US$ Mn) Analysis by Grade, 2017-2021
6.3. Current and Future Market Value (US$ Mn) Analysis and Forecast by Grade, 2022-2028
6.3.1. Commercial Grade
6.3.2. Pharmaceutical Grade
6.3.3. Others
6.4. Market Attractiveness Analysis by Grade
7. Global Polypropylene Random Copolymer Market Analysis 2017-2021 and Forecast 2022-2028, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Value (US$ Mn) Analysis by Application, 2017-2021
7.3. Current and Future Market Value (US$ Mn) Analysis and Forecast by Application, 2022-2028
7.3.1. Blown Film
7.3.2. Blow Molding
7.3.3. Injection Molding
7.3.4. Extrusion Molding
7.3.5. Others
7.4. Market Attractiveness Analysis by Application
8. Global Polypropylene Random Copolymer Market Analysis 2017-2021 and Forecast 2022-2028, By End-use Industry
8.1. Introduction / Key Findings
8.2. Historical Market Value (US$ Mn) Analysis by End-use Industry, 2017-2021
8.3. Current and Future Market Value (US$ Mn) Analysis and Forecast by End-use Industry, 2022-2028
8.3.1. Medical Packaging
8.3.2. Food Packaging
8.3.3. Consumer Goods & Retail
8.3.4. Building & Construction
8.3.5. Online Sale Channel
8.3.6. Others
8.4. Market Attractiveness Analysis by End-use Industry
9. Global Polypropylene Random Copolymer Market Analysis 2017-2021 and Forecast 2022-2028, By Region
9.1. Introduction / Key Findings
9.2. Historical Market Value (US$ Mn) Analysis by Region, 2017-2021
9.3. Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028
9.3.1. North America
9.3.2. Europe
9.3.3. Asia Pacific
9.3.4. South America
9.3.5. Middle East and Africa (MEA)
9.4. Market Attractiveness Analysis by Region
10. North America Polypropylene Random Copolymer Market Analysis 2017-2021 and Forecast 2022-2028
10.1. Introduction / Key Findings
10.2. Pricing Analysis
10.3. Historical Market Value (US$ Mn) Analysis by Region, 2017-2021
10.4. Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028
10.4.1. By Country
10.4.1.1. U.S.
10.4.1.2. Canada
10.4.1.3. Mexico
10.4.2. By Grade
10.4.3. By Application
10.4.4. By End-use Industry
10.5. Market Attractiveness Analysis
10.5.1. By Country
10.5.2. By Grade
10.5.3. By Application
10.5.4. By End-use Industry
11. Europe Polypropylene Random Copolymer Market Analysis 2017-2021 and Forecast 2022-2028
11.1. Introduction / Key Findings
11.2. Pricing Analysis
11.3. Historical Market Value (US$ Mn) Analysis by Region, 2017-2021
11.4. Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028
11.4.1. By Country
11.4.1.1. Germany
11.4.1.2. Italy
11.4.1.3. France
11.4.1.4. Spain
11.4.1.5. UK
11.4.1.6. Rest of Europe
11.4.2. By Grade
11.4.3. By Application
11.4.4. By End-use Industry
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Grade
11.5.3. By Application
11.5.4. By End-use Industry
12. Asia Pacific Polypropylene Random Copolymer Market Analysis 2017-2021 and Forecast 2022-2028
12.1. Introduction / Key Findings
12.2. Pricing Analysis
12.3. Historical Market Value (US$ Mn) Analysis by Region, 2017-2021
12.4. Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028
12.4.1. By Country
12.4.1.1. China
12.4.1.2. India
12.4.1.3. Japan
12.4.1.4. South Korea
12.4.1.5. Rest of Asia Pacific
12.4.2. By Grade
12.4.3. By Application
12.4.4. By End-use Industry
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Grade
12.5.3. By Application
12.5.4. By End-use Industry
13. South America Polypropylene Random Copolymer Market Analysis 2017-2021 and Forecast 2022-2028
13.1. Introduction / Key Findings
13.2. Pricing Analysis
13.3. Historical Market Value (US$ Mn) Analysis by Region, 2017-2021
13.4. Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028
13.4.1. By Country
13.4.1.1. Brazil
13.4.1.2. Argentina
13.4.1.3. Rest of South America
13.4.2. By Grade
13.4.3. By Application
13.4.4. By End-use Industry
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Grade
13.5.3. By Application
13.5.4. By End-use Industry
14. Middle East and Africa (MEA) Polypropylene Random Copolymer Market Analysis 2017-2021 and Forecast 2022-2028
14.1. Introduction / Key Findings
14.2. Pricing Analysis
14.3. Historical Market Value (US$ Mn) Analysis by Region, 2017-2021
14.4. Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028
14.4.1. By Country
14.4.1.1. GCC Countries
14.4.1.2. South Africa
14.4.1.3. Rest of MEA
14.4.2. By Grade
14.4.3. By Application
14.4.4. By End-use Industry
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Grade
14.5.3. By Application
14.5.4. By End-use Industry
15. Market Structure Analysis
15.1. Market Analysis by Tier of Companies (Polypropylene Random Copolymer)
15.2. Market Concentration
15.3. Market Dashboard
15.4. Key Player Heat Map Analysis
16. Competition Analysis
16.1. Competition Benchmarking
16.2. Competition Deep Dive
16.2.1. SCG Chemicals
16.2.1.1. Overview
16.2.1.2. Product Portfolio
16.2.1.3. Regional Revenue
16.2.1.4. Segmental Revenue Breakup
16.2.1.5. Recent Development
16.2.1.6. SWOT analysis
16.2.2. China Petrochemical
16.2.3. Borealis
16.2.4. MOLGROUP
16.2.5. HYOSUNG
16.2.6. Indian Oil Corporation
16.2.7. Braskem
16.2.8. Petro Plus
16.2.9. LyondellBasell Industries Holdings
16.2.10. Lotte Chemical Corporation
16.2.11. SABIC
16.2.12. Formosa Plastics
16.2.13. Exxon Mobil
16.2.14. Japan Polypropylene Corporation
16.2.15. Other Key Players
17. Appendix
Published On:June 2022
Base Year:2021
Historical Data:2018-2020
No of Pages:250
Polypropylene Random Copolymer Market Size, Share ...
RD Code : MC22