London, 21 August 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Polypropylene Market 2014-2018, which is expected to grow at a CAGR of 8.85 percent during 2013-2018.
Polypropylene is the single most widely used polymer resin in the world. It accounts for more than 20 percent of the total polymer demand, worldwide and is produced by the polymerization of propylene. Three main grades of polypropylene produced are: homopolymer, co-polymer, and impact co-polymer. Polypropylene possesses intrinsic properties of high stiffness, good tensile strength, and inertness toward acid, alkalis, and solvents, which makes it suitable for applications in various industries.
“An increase in the demand for bio-based products has shifted the focus of polypropylene manufacturers from synthetic to bio-based polypropylene,” says Faisal Ghaus, Vice President of TechNavio.
“The growing environmental concern about the usage of synthetic plastic, which is mostly derived from petroleum feedstock, has encouraged the industry to develop eco-friendly plastics for consumers.”
Key Market Drivers
- Increase in Demand from China
- Increase in Demand from Packaging Sector
- A Monomaterial Solution for Automotive Sector
- Large Capacity Addition in MEA Region
- Technological Advancement
Key Market Trends
- Increase in Demand for Bio-based Polymers
- Increase in Demand from Non-woven Fabric
- Increase in Strategic Alliance
- Europe will be a Net Importer
- Increase in Usage of Propylene Splitter
Key Market Vendors
- Braskem SA
- LyondellBasell NV
- PetroChina Corp.
- Reliance Industries Ltd.
- Saudi Basic Industries Corp.
- Sinopec Corp.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
