San Francisco, 28 December 2018: The Report Syntheticand Bio-Based Polypropylene Market Analysis By Application (Injection
Molding, Textiles and Films) And Segment Forecasts To 2022
The global polypropylene market is expected to reach USD 170 billion in 2022, according
to a new study by Grand View Research, Inc. Growth of key end-use industries
such as packaging and automotive in Asia Pacific is expected to drive the
global polypropylene market the forecast period. In addition, increasing
construction spending particularly in emerging markets of China, India and
Indonesia is also expected to have a positive influence on the market growth.
Volatile propylene prices on account of constantly fluctuating crude oil prices
are expected to remain a key challenge for market participants. Stringent
environmental regulations regarding production and disposal of polypropylene is
also expected to degrade the market growth over the forecast period. In order
to overcome these issues, major participants have shifted their focus towards
development of sustainable polypropylene.
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| Synthetic and Bio-Based Polypropylene Market |
Injection molding emerged as the leading
application segment and accounted for 46.1% of total market volume in 2014.
Shift towards replacement of steel automotive industry in order to improve fuel
efficiency of automobiles is expected to remain a key driving factor for this
segment over the forecast period. Films are expected to witness the highest
growth rate of 5.7% from 2015 to 2022. Growing demand for BOPP films for myriad
of applications is expected to drive this segment over the forecast period.
Access Research Report of Synthetic and Bio-Based
Polypropylene Market @ www.grandviewresearch.com/industry-analysis/synthetic-and-bio-based-polypropylene-market
Further key findings from the study suggest:
· Global polypropylene market demand was
58.45 million tons in 2014 and is expected to reach 87.35 million tons by 2022,
growing at a CAGR of 5.2% from 2015 to 2022.
· Asia Pacific continued its dominance in the
global PP market accounted for 44.8% of total consumption in 2014. Asia Pacific
is also expected to witness the highest growth of 5.8% from 2015 to 2022.
Growth of automotive and construction industries in India, China and Indonesia
is expected to drive the regional growth over the forecast period.
· Bio-based polypropylene demand is more
dominant in emerged markets of North America and Europe. These markets are
characterized by stringent regulations and aware consumers regarding the
environmental hazards caused due petrochemical based polypropylene.
· Polypropylene industry is characterized by
low white space, high price sensitivity and numerous producers. The market is
dominated by top multinational corporations which have presence across the
value chain. Key industry participants are investing heavily in R&D
initiatives and engaging in mergers & acquisitions with an aim to improve
their product portfolio and increase production capacity. Some major industry
participants include Braskem, Chevron Phillips Chemical Company, Japan
Polypropylene Corporation, Reliance Industries Limited, BASF, Sinopec, Borealis
AG, ExxonMobil, DuPont, LyondellBasell Industries, SABIC, Bayer Material
Science, Fulton Pacific, INEOS, Total S.A, Washington Penn Plastic Company
Inc., PetroChina Company Limited and Qatar Petrochemical Company.
Browse more reports of this category by Grand View Research
at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the
synthetic and bio-based polypropylene market on the basis of application and
region:
Global Polypropylene Application Outlook
(Volume, Million Tons; Revenue, USD Million, 2012 - 2022)
·
Injection Molding
·
Textiles
·
Films
·
Others
Global Polypropylene Regional Outlook (Volume, Million
Tons; Revenue, USD Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Middle East & Africa
·
Central & South America
Access Press Release of
Synthetic and Bio-Based Polypropylene Market@ www.grandviewresearch.com/press-release/global-synthetic-and-bio-based-polypropylene-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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