Polypropylene (PP) World Market Outlook and Forecast up to 2025
by Agastya Bellamkonda Business Consulting
Produced by polymerization of propylene, Polypropylene is a thermoplastic polymer used for packaging, electrical appliances, and automotive components, etc. Polypropylene is currently the fastest-growing polymer.
The growth of the polypropylene market is attributed to its ability to displace conventional materials like wood, metal, glass and other thermoplastics at a lower cost. Polypropylene is produced in various molecular weight and crystallinity as it is tough and rigid plastic.
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Considerable cost savings in the PP industry have been brought by capacity additions. Focus on costs and cash flows are being expected of the producers. The net importer for the forecasted period is expected to be from Western Europe.
- Petrochina Company Limited
- Exxon Mobil Corp
- Borealis Ag
- Reliance Industries
- Sinopec Corporation
Key players in the global Polypropylene (PP) market include:
Lyondellbasell, SABIC, ExxonMobil, Dupont, INEOS, Total, Formosa, LG Chem, Sumitomo Chemical, Eastman Chemical, BASF, Reliance Industries, Westlake Chemical, Braskem, Haldia Petrochemicals, Lotte Chemical, Trinseo, HMEL, Brahmaputra Cracker and Polymer and Saco Aei
Market segmentation, by product types:
- Impact copolymer
- Market segmentation, by applications:
- Building & Construction
- Market segmentation, by regions:
- North America, Middle East, Europe, Asia Pacific & Africa and Latin America.
Growth by region:
The polypropylene resin global production was 55 MMT in 2018. It is estimated to reach 83.17MMT by 2025 with a CAGR of 5.84%.
In terms of demand, the market is USD SD 97.4 billion in 2018 and would reach USD 147.23 billion by 2025 growing at a rate of 6.08% compounded annually.
North America is anticipated to witness a decline in its share in the global polypropylene market.
One of the largest consumers of polypropylene in terms of production and consumption, China sees an increase in its production due to an increase in disposable income and changing lifestyles.
Furthermore, capacity additions in China and the Middle East are anticipated to boost the market growth.
Drivers vs. Constraints
Demand from the automotive, construction and automotive industries, increasing demand for consumer disposable products, preference in the packaging industry are some of the factors that are expected to drive the market.
Whereas, volatile raw material prices, economic uncertainty on some countries drive to constrain the growth.
Created on Jul 31st 2019 04:54. Viewed 65 times.