Polypropylene Market growth surging ahead at a CAGR of 3.4% by 2028
Polypropylene Industry Overview The global polypropylene market size was valued at USD 117.8 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 3.4% from 2021 to 2028. Ascending application of polypropylenes in fiber, raffia, and film and sheet, coupled with the growing trend of the application of polypropylene (PP) in the automotive sector to manufacture lightweight vehicles for increased fuel efficiency, is anticipated to be the major factors driving the market over the forecast period. Polypropylene is a lightweight material and has a broad range of superior properties, such as resistant to several chemical solvents, acids, and bases, high tensile strength, staining resistance, and low moisture resistance. Owing to its excellent chemical and mechanical properties, it is extensively used in manufacturing automotive components, packaging and labeling, medical devices, and construction, diverse laboratory equipment, among variou...