Significant Growth in Fast-Moving Consumer Goods Sector to Augment Growth of PP Homopolymer Market

 

PP Homopolymer Market

A homopolymer is a polymer which has the identical polymer unit, or strand, in the complementary chain of polymer. Examples of common homopolymers are PVC with Vinyl chloride units, Polyvinyl Chloride units with Vinyl chloride units, Acrylate with Vinyl chloride units, and Polypropylene with Vinyl chloride units. Each Homopolymer may be further broken down into its terminal polymers, which include Vinyl and PVC or Acrylic, along with other less well-known polymers such as Polyurethane, Polysulfone, and Polyacrylate. In general a Homopolymer will have one to three hydrogen atoms fused together at their four electron centres.

Homopolymer molecules are very much like regular polymer molecules in terms of their physical properties, but in addition they have unique chemical bonds and complete sets of amino acids. The reason for this is that unlike regular polymers, a homopolymer molecule can be made only from one sequence of chemical bonds. Although it is possible to make all different types of homopolymers, in most situations a chemist will use one of the standard homopolymer designs available. In chemical reactions, where multiple chemical bonds are required, it is often necessary to use complementary sequences of Homopolymers in order to ensure that the desired reaction occurs.

Market Dynamics

Significant growth in the fast-moving consumer goods (FMCG) sector is expected to propel growth of the global PP homopolymer market over the forecast period. For instance, according to India Brand Equity Foundation, FMCG market in India is expected to grow at a CAGR of 27.86 per cent and is expected to reach US$ 103.70 billion by 2020 from US$ 52.75 billion in FY18.  

However, increase in export prices of PP homopolymer is expected to hinder growth of the global PP homopolymer market. For instance, in January 2021, according to ICIS-MRC Price report, European producers announced an increase in export prices of polypropylene to be shipped to the CIS markets in January at levels above the propylene contract cost increase.

Among end-use industries, the automotive segment is expected to witness decline in the global PP homopolymer market, owing to decreeing sales of automobiles. For instance, according to the Society of Motor Manufacturers and Traders, the new car registrations in the U.K. decreased by 44% in March 2020 compared that in March 2019.

Competitive Analysis 

Major players operating in the global PP homopolymer market include, LyondellBasell Industries Holdings B.V., Reliance Industries Limited, Braskem SA, INEOS Group Ltd., ExxonMobil Corporation, Borealis AG, Total S.A., Sasol Limited, IRPC Public Company Limited., National Petrochemical Industrial Company, The Polyolefin Company (Singapore) Pte Ltd., and L.C.Y. Chemical Corporation

Major players operating in the global PP homopolymer market are focused on adopting various strategies to enhance their market share. For instance, in January 2021, LyondellBasell signed an agreement with the China Petroleum & Chemical Corporation (Sinopec), an integrated energy company in China, to form a 50:50 joint venture (JV) which will produce propylene oxide (PO) and styrene monomer (SM) in China's domestic market. 

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