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Polypropylene Random Copolymer Market Regulations and Competitive Landscape Outlook to 2023
5/2/2022
The demand within the global polypropylene random copolymer market has been rising on account of advancements in the domain of chemical manufacturing, finds Transparency Market Research (TMR). The competitive landscape of the global polypropylene random copolymer reflects a picture of extreme fragmentation. This is due to the presence of minimal barriers to the entry of newbies in the global polypropylene random copolymer market. The tall claims of the leading vendors about quality are supported by their robust research framework. It is expected that the leading players in the global polypropylene random copolymer market would focus on introducing new segments for improved research and development. The emergence of new players in the global polypropylene random copolymer market is prognosticated to prompt a response from the prominent vendors.
A key trend projected with regard to the global polypropylene random copolymer market is the emergence of new strategic alliances. The market players in the polypropylene random copolymer market could use collective selling as a means to increase profits in the long-run. Moreover, partnership firms in the global polypropylene random copolymer market have also contributed towards defining the competitive landscape. Some of the key players in the global polypropylene random copolymer market are Braskem, Pinnacle Polymers LLC, Total Petrochemicals & Refining USA, Inc., SABIC, Borealis AG, Sinopec, Reliance Industries Limited, Sasol, and Formosa Plastics Corporation.
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Transparency Market Research (TMR) projects that the global polypropylene random copolymer market would expand at a healthy CAGR of 5.20% over the period between 2015 and 2023. Furthermore, the global polypropylene random copolymer market is expected to accumulate revenues worth US$9.2 bn by 2023, rising up from a value of US$5.9 bn in 2014. On the basis of geography, the global polypropylene random copolymer market in led by North America.
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Use of Polypropylene Random Copolymer in Manufacture of Containers
The global polypropylene random copolymer market has been attracting voluminous revenues in recent times. This trend majorly owes to the use of polypropylene random copolymer in manufacturing containers, cups, and glasses. Foods stored in containers made of polypropylene random copolymer can remain fresh for longer durations of time. Furthermore, the ease of carrying eatables inside containers has also played a vital role in the growth of the global polypropylene random copolymer market. VCD cases are made up of polypropylene random copolymer, and this was a major driver of market demand a couple of decades back.
Popularity of Toy Market to Aid Growth
The manufacture of seamless, resilient, and durable toys has become a key concern for the manufacturers. Hence, the use of polypropylene random copolymers in toy manufacturing has given a thrust to market growth. Furthermore, cold water pipes are also manufactured with the use of polypropylene random copolymer which has in turn generated stellar market demand. It is expected that the global polypropylene random copolymer market would grow alongside advancements in the manufacture of tubes, bags, pouches, and purses. Moreover, the stellar demand for gearboxes has also played to the advantage of the global polypropylene random copolymer market in recent times.
The review is based on TMR’s report titled, “Polypropylene Random Copolymer Market for Packaging, Building & Construction, Healthcare and Other End-user Industries - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023”.
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