The global Polypropylene Terpolymer Market was valued at USD 6,832 Million in 2020 and is projected to reach USD 10,967.9 Million by 2028, expanding at a CAGR of 5.4% during the forecast period. Polypropylene Terpolymer refers to an inorganic compound and is one of the oxides of copper. Polypropylene terpolymer is formed by the combination of propylene segments, ethylene monomers, and co-polymer. Polypropylene Terpolymer - It is made up of propylene segments that are joined together by ethylene and butane monomers (co-monomers) that appear at random along the polymer chain. PP terpolymer has a higher transparency than PP homo. The addition of co-monomers reduces the polymer's crystalline uniformity, making it suitable for sealing film applications. Composite films, metal composite films, and bags are examples of processing and manufacturing fields.
The key end-use industries of propylene terpolymer are expanding. Packaging is the most important end-use industry for PP TER. Several types of polymers are currently used in food packaging. Plastics have risen to prominence as the most widely used packaging material for a wide range of products, including food, beverages, healthcare, chemicals, and electronic devices. They clearly outperform traditional materials. The packaging industry's growth, combined with the industry's heavy use of PP TER, is expected to drive the market during the forecast period.
Propylene terpolymer products are in high demand. Propylene terpolymer is used in a wide range of applications, including automotive, consumer goods, medical, FMCG, lubricant, adhesive and sealant, packaging, and other industrial applications. The primary application driving the growth of the global propylene terpolymer market is the use of propylene terpolymer as ethylene-propylene-diene monomer (EPDM) rubber.
Increased Chemical manufacturing and infrastructure investment The global chemicals manufacturing industry is a complex and important part of the global economy and supply chain network. People in the United States spend less on transportation infrastructure than the rest of the world, including the OECD and China, in terms of GDP.
In the automotive industry, it is widely used. It is used in a wide range of applications, including consumer product packaging and the automotive industry. Polypropylene is used in car bumpers and wheel covers, as well as chemical tanks, cable insulation, and carpet fibres. This positive factor is expected to increase its demand for anti-bacterial purposes and drive the market during the forecast period.
Various Government policies and regulations implemented by governments worldwide to regulate the production of polypropylene terpolymer are expected to have a significant impact on product growth and pricing. Short-term demand for polypropylene terpolymer is expected to be hampered by stringent requirements for small and medium-sized producers. Substitutes are a significant threat to polypropylene. Polystyrene (PS), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and polyethylene are examples of plastics other than polypropylene (PE). These plastic materials pose a significant threat to polypropylene terpolymer. This factor is expected to impede the market during the forecast period.
In recent years, Consumer demand for safe, healthy, and high-quality foods, preferably with a long shelf life; preference for sustainable packaging materials; and high demand for appropriate and transparent packaging all contributed to the advancement of new packaging technologies, such as active packaging (AP). Plastic films are inexpensive and have good barrier properties. These benefits are estimated to propel polypropylene terpolymer market during the forecast period.
Based on sealing temperature, the global polypropylene terpolymer market is segmented into 75-94°C, 95-104°C, 105-114°C, and 115°C & Above.
The 95-104°C segment is anticipated to hold a significant share of the market and is expected to grow at a substantial CAGR during the forecast period. The 115°C & Above segment is expected to boost substantial growth opportunities in the near future, as it is used in many applications such as a sealing temperature of more than 115° C is required in the automotive, aerospace, and electronic industries.
Based on applications, the global Polypropylene Terpolymer market is segmented into BOPP, CPP, shrink film, and others.
The BOPP segment is expected to hold a significant share of the market due to of their low cost and favorable properties. BOPP is used in a wide range of applications such as food packaging, multipurpose packaging, and adhesive-tape packing. BOPP film is used for a variety of purposes, including packaging, labelling, and lamination, and is expected to expand at a considerable CAGR during the forecast period.
The Shrink film segment is projected to grow, owing to Shrink film is commonly used to bundle, collate, or overwrap products for unitization, display aesthetics, and/or tamper resistance, are expected to record significant growth opportunities in the near future.
Based on regions, the global Polypropylene Terpolymer market is fragmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific accounted for a significant share of the market in 2020 and the market in Asia Pacific is anticipated to expand at high CAGR in the forecast period of 2021 to 2028. Due to changes in the industry, such as growing middle-class population, and massive capacity expansion investments by key players in the region, the propylene terpolymer market in emerging economies such as China and India are expected to grow at a rapid pace during the forecast period. The market in Europe is predictable to hold a sizeable share of the market during the forecast period and expand at a considerable CAGR during the forecast period due to due to the growing use of polypropylene terpolymer in material packaging, such as flexible packaging.
The market in Asia Pacific is projected to account for a significant share of the market during the forecast period due to a customer expectation in the region are being shaped by the expansion of the e-commerce industry as well as the growing desire for convenience.
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Borealis AG, Braskem, Hanwha Total Petrochemical Co. Ltd, HMC Polymers, INEOS, LG Chem, LOTTE Chemical CORPORATION, LyondellBasell Industries Holdings B.V., JPPC, Mitsui Chemicals Europe GmbH, The Polyolefin Company (Singapore) Pte Ltd.
The base year considered for the global Polypropylene Terpolymer market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018 & 2019 are the historic years and the forecast is provided from 2021 to 2028.
The market is expected to witness considerable slowed in terms of demand during 2020-2021 owing to the shutdown of production units, minor negative impact of COVID-19 pandemic on the Polypropylene Terpolymer Market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
High amount of use in FMCG, Healthcare, and E-commerce industry, plastic manufacturing and growing adoption of Polypropylene Terpolymer across diverse businesses is anticipated to further fuel the market over the forecast period.
The Polypropylene Terpolymer Market is anticipated to grow significantly during forecast period due to Increasing demand for propylene terpolymer products, increased infrastructure investment and chemical manufacturing, and widespread use in the automotive industry.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2020), other data such Macro-economic factors, COVID-19 Impact on the Polypropylene Terpolymer Market is available in final report.
According to this growth market reports report, the market from Polypropylene Terpolymer Market is likely to register a CAGR of 5.4% during forecast period 2021-2028 with an anticipated valuation of USD 10,967.9 million by the end of the 2028.
Yes, the report covers sealing temperature types such as 75-94°C, 95-104°C, 105-114°C, and 115°C & Above.
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