PP HOMOPOLYMER MARKET ANALYSIS

Market Challenges And Opportunities

Market Restraints

Stringent government policies for the manufacturing of the PP homopolymer due to rising environmental concerns is expected to hamper the market growth.

High production cost due to fluctuating prices of raw material is expected to restrict market growth. This is attributed to the volatile price and production of crude oil due to various economic factors.

Market Opportunities

Increasing use of PP homopolymer in the injection mold technology which is used for the production of various household products is expected to provide potential growth opportunities to the market. Injection mold technology is widely used in the manufacturing of personal care, appliances, and other various home care products. Therefore, increasing use of PP homopolymer in the injection mold technology is expected to augment the market growth.

An increasing application of PP homopolymer in the flexible packaging will favor the market growth of the PP homopolymer over the forecast period. Flexible packaging is gaining huge demand from the food and beverage packaging industry where it is used to package the food product. Also, the growing e-commerce industry is boosting demand for packaged products which is further expected to foster the market growth of the PP homopolymer over the forecast timeframe. 

Figure 2. Global PP Homopolymer Market – Opportunity Analysis

Drivers

Rising demand for PP homopolymer from the automotive industry as it offers advantages such as weight reduction, cost reduction, and improve the overall fuel efficiency is expected to augment the market growth. PP homopolymer is widely used in the manufacturing of interior and exterior components of automobiles that reduce the overall weight of the vehicle. According to the Coherent Market Insights analysis, it is estimated that a 10% reduction in vehicle weight reduces fuel usage by 5% to 10%.

Increasing use of PP homopolymer from the electrical industry for manufacturing various electronic products is expected to foster the market growth of the PP homopolymer. The growth of the PP homopolymer market is also attributed to the growth of the electrical industry due to the growing demand for various high-end electronic products. Its high electrical resistance property makes it ideal for electronic devices. Hence, the growing demand for PP homopolymer from the electronic industry is expected to augment the market growth over the forecast period.