Booming Packaging Industry Fueling Global Demand for Polypropylene

The expansion of the packaging industry is fueling the demand for polypropylene across the world. This is because polypropylene is extensively used in the packaging industry. As per PlasticsEurope, the global plastics production in 2018 stood at 359 million tons. This was primarily because of the huge demand for plastics in the packaging and building & construction industries. Further, out of the various types of plastics, the sales of polypropylene were the highest across the world.

Besides, the booming nonwoven polypropylene fiber consumption is also driving the demand for polypropylene. According to an article published in the International Fiber Journal, 14.9 million tons of nonwoven roll goods were utilized globally in 2018. Staple fibers held a share of 59% in the global nonwoven industry. Furthermore, polypropylene staple fibers accounted for a 11% share in the industry, with polypropylene staple fibers accounting for around 1.0 million tons of the total nonwoven roll goods sold across the world. 

Hence, with the mushrooming consumption of nonwoven fiber, the demand for polypropylene is shooting up across the world, thereby, fueling the growth of the global polypropylene market. As a result, the market value is predicted to grow from $122.7 billion in 2019 to $226.8 billion by 2030. Furthermore, the market will progress at a CAGR of 5.7% from 2020 to 2030. Depending on application, the market is categorized into blow molding, fiber, raffia, film & sheet, and injection molding.

Across the globe, the Asia-Pacific (APAC) region will hold the largest share in the polypropylene market in the forthcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This will be because of the surging investments being made in research and development (R&D) projects and the increasing implementation of policies by the governments of the regional countries for promoting the production of sustainable polypropylene packaging. 

Hence, it is safe to say that the demand for polypropylene will skyrocket in the upcoming years, mainly because of the rising usage of the material in packaging applications, expansion of the packaging industry, and the growing consumption of nonwoven polypropylene fiber around the world.

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