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The packaging industry is expanding globally and this will drive the growth of the PP Homopolymer Market

HYDERABAD, TELANGANA, INDIA, December 12, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The PP Homopolymer Market size is forecast to reach US$78.2 billion by 2027 after growing at a CAGR of 5.4% during 2022-2027. PP homopolymer finds its usage in a wide range of industries owing to its robust properties such as high strength to weight ratio and good impact resistance. This type of polypropylene is used extensively in the manufacturing of various automobile parts battery cases and trays, fender liner, bumpers, etc. The automotive industry is booming globally with increasing production and sales globally and this will contribute to the growth of the market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Pp-Homopolymer-Market-Research-504327

Key takeaways:

This IndustryARC report on the PP Homopolymer Market highlights the following areas -

1. Injection molding is leading the pp homopolymer market. This processing technology helps in the production of rigid and complex parts with high efficiency, making it a desirable choice in the market.

2. The automobile industry will drive the growth of the market in the forecast period. As per the statistics by European Automobile Manufacturers Association, passenger cars registrations jumped by +10.4% in July 2021 compared to the registrations done in the same period in 2020.

3. The Asia-Pacific region will witness the highest demand for pp homopolymer due to the booming automobile industry in the region. For instance, as per the stats by the China Association of Automobile Manufacturers, the annual sales volume of new energy vehicles (NEVs) is projected to touch 3 million units in China by 2025 which was 1.2 million units in 2019.

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Segmental Analysis:

1. Injection molding dominated the pp homopolymer market in 2021. This processing technology offers the production of various molded parts with the help of pp homopolymer. Injection molding is one of the most commonly used pp homopolymer processing technology. This processing technology allows the production of complex pp homopolymer molded parts with high efficiency. Owing to such robust benefits, market players and research organizations are engaging in the higher implementation of this processing technology.

2. The Asia-Pacific region held the largest market share in the pp homopolymer market in 2021 with a market share of up to 34%. The high demand for pp homopolymer is attributed to the growing automobile sector in the region.

3. The automobile industry dominated the pp homopolymer market in 2021 and is growing at a CAGR of 5.8% in the forecast period. PP homopolymer is used extensively in the automobile industry for the manufacturing of various automobile components mostly through injection molding processing technology. The automobile industry is booming globally and this will drive the growth of the market in the forecast period.

Competitive Landscape:

The top 5 players in the PP Homopolymer Industry are -

1. LyondellBasell
2. Ineos Group Ltd
3. Exxon Mobil Corporation
4. Borealis AG
5. Sasol Limited

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Related Reports:

A. Europe Polypropylene Market
https://www.industryarc.com/Report/15051/europe-polypropylene-market.html

B. Polypropylene (PP) Resin Market
https://www.industryarc.com/Report/1295/polypropylene-resin-market-analysis.html

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