In 2021, the global average price of polypropylene (PP) was 1,285 U.S. dollars per ton – an increase of 340 U.S. dollars, or 36 percent, compared with the previous years. As of February 2022, the average price of PP stood at 1,208 U.S. dollars per ton.
The global polypropylene market
The global polypropylene market was valued at 115.83 billion U.S. dollars in 2021. The market size had been growing annually until 2020, when the market size reduced by roughly 1.2 percent as a result of the COVID-19 pandemic. The global PP market is projected to continue growing over the next decade, registering a CAGR of 3.6 percent during the forecast period of 2022 to 2029 to reach a value of 153 billion U.S. dollars. This will see the polypropylene market volume rise to almost 100 million metric tons.
Polypropylene end-uses
Polypropylene is one of the most commonly used thermoplastics due to its elasticity and durability and is used across a wide range of end-uses including electronics, transportation, and construction. However, the major end- user of polypropylene is the plastic packaging industry.
Price of polypropylene worldwide from 2017 to 2022
(in U.S. dollars per metric ton)
Characteristic
Price in U.S. dollars per metric ton
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Krungsri Research. (May 10, 2023). Price of polypropylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1171084/price-polypropylene-forecast-globally/
Krungsri Research. "Price of polypropylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton)." Chart. May 10, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1171084/price-polypropylene-forecast-globally/
Krungsri Research. (2023). Price of polypropylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1171084/price-polypropylene-forecast-globally/
Krungsri Research. "Price of Polypropylene Worldwide from 2017 to 2022 (in U.S. Dollars per Metric Ton)." Statista, Statista Inc., 10 May 2023, https://www.statista.com/statistics/1171084/price-polypropylene-forecast-globally/
Krungsri Research, Price of polypropylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton) Statista, https://www.statista.com/statistics/1171084/price-polypropylene-forecast-globally/ (last visited July 22, 2024)
Price of polypropylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton) [Graph], Krungsri Research, May 10, 2023. [Online]. Available: https://www.statista.com/statistics/1171084/price-polypropylene-forecast-globally/