Polypropylene Random Copolymer Market Analysis

Polypropylene Random Copolymer Market Analysis

Global polypropylene random copolymer market share for packaging is forecast to witness highest gains by 2024. Increasing product demand across packaging applications mainly due to its higher transparency and thermal resistance will boost industry growth over the projected timeframe. Furthermore, increasing number of working population across the globe has subsequently driven packed food demand, which in turn is analyzed to fuel business growth.
 

Polypropylene random copolymer business for healthcare was valued at over USD 1 billion in 2015. Increasing product demand to manufacture medical equipment such as syringes due to its heat resistance and transparent traits will boost the overall industry growth over the projected timeframe. In addition, the product is extensively used in labware products as a glass alternative due to its unbreakable and light weight will further propel growth.
 

North America, led mainly by the U.S. polypropylene random copolymer industry outlook generated revenue more than USD 950 million in 2015. Prevalence of robust healthcare sector in the U.S. will boost the regional industry size by 2024. The U.S. is a major package food & beverage producer and consumer and accounts for a large section of the polypropylene random copolymer market demand across the globe. This market trend will boost the regional business growth for packaging applications by 2024.
 

Asia Pacific, mainly led by China, India and Japan polypropylene random copolymer industry dominated the global demand in 2015 and is forecast to experience highest gains at over 5.5% over the projected period. Upgrading consumer lifestyles, increasing consumer spending and emerging middle class population in China and India is the major factor contributing to the overall business growth by 2024. The regional industry is also propelled by booming food & beverage industry, resulting in business growth packing applications.