COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Polypropylene Market
Polypropylene Market is likely to witness an impressive CAGR of 5.7% during the forecast period. The major factors propelling the Polypropylene Market are the increasing construction activities, growth in automotive & transportation sector, industrial development, and the stringent regulations regarding Volatile Organic Compound (VOC) control, including initiatives, such as REACH Europe and Clean Air Act, respectively.
Asia-Pacific is estimated to be the largest market for polypropylene during the forecast period. China, Japan, South Korea, Taiwan, and India are the largest consumers of polypropylene in the region. Significant economic development in the region is paving the path for electrical & electronic, packaging, building & construction, and automotive industries. Further, huge consumer base and significant economic development in the region are likely to boost the demand for polypropylene in the region. North America and Europe are also expected to witness a healthy demand for polypropylene material owing to the revival of the construction industry from the global economic slowdown.
Market Scope & Market Segmentation
Polypropylene Market Share: By Type
Based on the type, the market is segmented as homopolymer and copolymer. The homopolymer type dominated the market in 2020, and is expected to maintain its position during the forecast period. Homopolymer polythene is widely used in a large number of industries such as packaging, automotive, building & construction, and electrical & electronics owing to its better mechanical properties.
Polypropylene Market Share: By Application Type
Based on the application type, the polypropylene market is segmented as injection molding, fiber & raffia, film & sheet, and blow molding. Fiber & raffia is expected to remain the largest application of the market owing to its widespread usage in carpets, carpet backing, and tapes. Injection molding is expected to remain the second-largest segment owing to the growing demand for molded products in increasing number of end-use industries.
Polypropylene Market Share: By End-Use Industry Type
Based on the end-use industry type, the polypropylene market is segmented as packaging, automotive, building & construction, electrical & electronics, medical, and others. Packaging industry is expected to maintain its dominant position in the market during the forecast period. Polypropylene is used in packaging of food and consumer products.
Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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