NEW YORK, Sept. 23, 2021 /PRNewswire/ — The global polypropylene market value, which was $94.3 billion in 2020, will reach $165.6 billion by 2030, growing at a CAGR of 5.7%.
During the COVID-19 pandemic, the polypropylene market was hit severely as the shutting down of most manufacturing plants led to a reduced demand for the plastic. Although the demand for it increased for the production of N95 masks, plungers, and gloves for the healthcare sector, curtailed industry operations led to a low-volume output despite the falling prices of raw materials, most importantly crude oil.
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The homopolymer bifurcation dominated the type segment of the polypropylene market in the past. The higher strength-to-weight ratio of homopolymers makes them stronger and stiffer than polypropylene copolymers. Other benefits of…