Polypropylene Market Size | Share and Trends 2024 to 2034

Polypropylene Market Size and Forecast 2024 to 2034

The global polypropylene market size accounted for USD 88.38 billion in 2024 and is expected to reach around USD 149.54 billion by 2034, expanding at a CAGR of 5.4% from 2024 to 2034. 

Polypropylene Market Key Takeaways

• Asia Pacific led the global market with the highest market share of 56% in 2023.
• By polymer type, the homopolymer segment was the highest revenue holder in 2023 which was 81%.
• By process, the injection molding segment accounted for 49% revenue share in 2023.
• By end-use, the automotive segment has held a revenue share of over 28.6% in 2023.
• By applications, the film and sheet segment accounted for a revenue share of over 37% in 2023.

Asia Pacific Polypropylene Market Size and Growth 2024 to 2034

The Asia Pacific polypropylene market size was estimated at USD 46.96 billion in 2023 and is predicted to be worth around USD 83.74 billion by 2034, at a CAGR of 5.6% from 2024 to 2034.

The Asia Pacific emerged as the market leader and accounted for a largest revenue share in the year 2023. Furthermore, the region also predicted to grow at a prominent rate over the predicted time period. Increasing demand for polypropylene particularly from the packaging and automotive sectors, predominantly in countries such as China, India, and Japan anticipated to thrive the market growth in the region. Additionally, the region is a home of market leaders such as LG Chem, China Petrochemical Corporation, Formosa Plastics Group, and Sumitomo Chemical that accounted as the another prime factor to augment the market size during the coming years.

North America accounted for a value share of 17% in 2023 owing to its rising application for packaging in the food & beverage industry. In addition to this, rising number of R&D centers coupled with increasing demand for lightweight automobiles and their parts estimated to propel the demand for polypropylene in the region.

Polypropylene Market Growth Factors

The increasing application of polypropylene across various end-use industries including automotive, packaging, medical, building & construction, and many others drives the demand for the product over the upcoming years. Polypropylene is a light weight material that offers broad range of superior properties such as high tensile strength, low moisture resistance, staining resistance, and resistant to various chemical solvents, acids, & bases because of which it is largely preferred in the aforementioned industries.

Shifting trend towards lighter materials in automotive sector in order to improve the fuel efficiency and curb the pollution rate act as a booming factor for the market growth of polypropylene in the industry. Similarly, it is highly preferred as a packaging solution in food & beverage industry owing to its excellent moisture resistance property that increases the life of the packaged food and prevents it from degradation.

On the other hand, lockdown imposed by different governments to control the spread of COVID-19 pandemic has significantly impacted to the consumption of polypropylene as well as its demand has declined rapid across various end-use industries. Manufacturers are facing difficulties while running production lines because of insufficient supply of raw material and restrictions on logistics along with limitations for the movement of people that further cascade negative impact towards the product demand. Besides this, increasing requirement for specialized polypropylene particularly in the healthcare sector in order to manufacture medical gowns, masks, and other safety equipment expected to propel the demand for the product in the upcoming years.

Market Scope 

Type Insights

Homopolymer dominated the global polypropylene market and accounted highest revenue share in the year 2023. Increasing demand for homopolymer polypropylene in the manufacturing of different components that include prosthetic & orthotics devices, secondary containments, pump components, and storage tanks, for different end-use sectors, for example automotive, healthcare, and construction anticipated to prosper the growth of the segment during the analysis period.

However, the counterpart of homopolymer, copolymer polypropylene is comparatively softer, though has high strength and is more durable compared to homopolymer. Because of its toughness at low temperature along with higher stress crack resistance, the demand for copolymer expected to witness significant growth over the forecast timeframe.

Application Insights

Film & sheet accounted for the highest revenue share in the global market for polypropylene in 2023. The growth of the segment is mainly attributed to the rising demand for polypropylene in boxes, binders, packaging materials, and portfolios due to its high temperature stability, excellent chemical resistance, better chemical resistance, high temperatures stability, excellent moisture barrier, and exceptional contact clarity.

Prominent growth of the packaging sector, mainly in countries that include China and India, because of growing penetration of e-commerce platform to purchase products projected to impact positively on the growth of the segment over the forthcoming years.

Fiber estimated to be the second largest application segment accounting for a value share of around 30% in 2023. Rising demand from automotive industry in seat cover construction, pull straps, automotive flooring, and seam reinforcement predicted to bolster the demand for polypropylene in the forthcoming years.

Polypropylene Market Companies

• Lyondellbasell Industries Holdings B.V.
• Exxon Mobil Corporation
• SABIC
• China Petrochemical Corporation
• Eastman Chemical Company
• BASF SE
• LG Chem
• Trinseo S.A.
• Total S.A
• Westlake Chemical Corporation

Key Companies Share Insights

The global polypropylene market is characterized by the presence of numerous small as well as medium scale companies. These players are largely focused towards forward integration via raw material production, product manufacturing, and distribution across various industry verticals.

Segments Covered in the Report

By Process

• Blow Molding
• Extrusion
• Injection Molding
• Others

By Type

• Copolymer
• Homopolymer

By Application

• Film & Sheet
• Raffia
• Fiber
• Others

By End-use

• Building & Construction
• Electrical & Electronics
• Automotive
• Medical
• Packaging
• Others

By Regional

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World