According to a new report titled ‘Market Study: Polypropylene’ from Ceresana, the global market for polypropylene is expected to generate over $145 billion in revenues in 2019. Particularly, the strong economic development in up-and-coming markets will drive polypropylene demand.
The report also predicts that the polypropylene market may surpass its 4.4% average annual growth rate of the past eight years in the future. Asian-Pacific countries are the largest consumers of polypropylene, representing over 50% of global consumption, followed by Western Europe and North America. However, polypropylene demand distribution in different parts of the world is expected to change considerably. Rising demand for polypropylene in a myriad of applications, especially in the automobile industry benefits several developing countries.
Regional demand changes will also affect the manufacturing structure of producers. The worldwide polypropylene capacity of nearly 62 million tons is expected to increase by over 23.5 million tons by 2019. The Asia-Pacific region will account for over 57% of these new capacities to be built.
The report also discusses the pattern of polypropylene consumption in individual markets. Rigid and flexible packaging manufacturers are the major consumers of polypropylene, representing over 50% of demand. Consumer goods and polypropylene fibers represent a share of approximately 12% each, while the construction, transportation and electrical and electronics industries represent a share of roughly 6% each.
Other applications fields include security foils for banknotes, corrugated cardboard, decorative ribbons, and medical products such as catheter, diagnostic devices, petri dishes, and single-use syringes. With 5.8% per year for the next eight years, the transportation industry is likely to represent the largest rise in demand. Fibers are at the other end of the spectrum with only 2.8% increase in demand per year. Nevertheless, the rigid and flexible packaging sector will remain the largest application market in spite of regional and nation-specific variations.
The report covers key data on polypropylene’s properties, applications, disposal options, recycling options and legal situation. It discusses production, capacities, demand, price, and revenue growth of polypropylene in detail.
Geographic markets covered in the report include Africa, the Middle East, Asia-Pacific, South America, North America, Eastern Europe and Western Europe. It also profiled 117 major polypropylene manufacturers, which include Exxon Mobil, Ineos Group, Borealis, Reliance Industries, Saudi Basic Industries, Total, China National Petroleum, Braskem, LyondellBasell Industries and Sinopec.
Source: http://www.ceresana.com/