APAC Tops the Global Polypropylene Random Copolymer Market| Technavio

LONDON–(BUSINESS WIRE)–#Chemicals–The latest market research report by Technavio
on the global
polypropylene random copolymer market predicts a CAGR of
close to 6% during the period 2017-2021.

The report segments the global polypropylene random copolymer market by
application (packaging, pharma and medical, and building and
construction) and by geography (APAC, the Americas, Europe, and ROW). It
provides a detailed illustration of the major factors influencing the
market, including drivers, opportunities, trends, and industry-specific
challenges.

Here are some key findings of the global polypropylene random
copolymer market, according to Technavio chemicals
and materials researchers:

• Rising demand for metallocene-based polyolefin: a major market driver
• In 2016, the packaging segment dominated the market by occupying
  almost 54% share
• In 2016, APAC held the maximum share of the global polypropylene
  random copolymer market, accounting for a share of more than 48%
• Braskem, China Petrochemical, LyondellBasell Industries Holdings,
  Reliance Industries, and Total are the leading players in the market

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Rising demand for metallocene-based polyolefin: a major market driver

Rising demand for metallocene-based polyolefin is one of the major
factors driving the global polypropylene
random copolymer market. Polymerization of olefins with the
nanoparticles by metallocene catalysts is one of the efficient ways of
the production of polyolefin. Several companies such as BASF and
ExxonMobil, are producing the metallocene-based polyolefin. The increase
in demand for a metallocene-based catalyst, which has better properties
than the conventional catalyst and wide use of this kind of polyolefins
in various application sectors such as automotive, packaging, and
construction is expected to drive the market during the forecast period.

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Packaging: largest application segment

Due to some specific characteristics such as superior dimensional
stability, heat sealing strength, and low-temperature impact resistance,
polypropylene random copolymer is widely used for packaging in the food
and beverages and medical industries. It has substituted the use of
other packaging materials such as metals, glass, and other plastic
polymers. Properties such as a low melting point, chemical resistance,
and high resistance to moisture absorption make it highly useful for
food packaging. It is widely used in packaging of fruit juice, meat,
processed food, and daily consumable items such as sweets, snacks,
biscuits, and dairy products.

According to Kurva Samba Sivudu, a lead analyst at Technavio for
research on plastics,
polymers, and elastomers, “Polypropylene random copolymer
possesses high flexibility and high tensile strength. Therefore, it can
be molded into thin sheets that find use in packaging for cigarettes or
tobacco, hosiery, and bread. Its use in packaging is increasing because
of its lightweight, cost-effectiveness, and lack odor and taste. It is
used in dairy containers and in jars for household use because of its
high transparency. High moisture resistance and good sealing properties
increase the shelf life of the packaged food products.”

Competitive vendor landscape

The global polypropylene
random copolymer market is extremely competitive and moderately
fragmented due to the presence of multinational, regional, and local
vendors. Major manufacturers are present in APAC, the Americas, and
Europe. Some major key vendors dominating the market are Braskem, China
Petrochemical, LyondellBasell Industries Holdings, Total, and Reliance
Industries. The key factor influencing the competitive scenario in the
market is the abundant availability of raw materials, and their prices
vary from supplier to supplier. Although local vendors have a cost
advantage of raw materials, it is difficult for them to compete with
major vendors in terms of price, quality, and supply of differentiated
products. Competitors are investing in R&D for making their products
innovative and different from others.

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