“Data Bridge Market Research” recently published a market study on the Polypropylene Market. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities & restraints, and detailed information about the market structure. The Polypropylene Market study presents exclusive information about how the market will grow during the forecast period.
Global polypropylene market is expected to register a steady CAGR of 3.6% in the forecast period of 2019-2026.
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Segmentation: Global Polypropylene Market
Global polypropylene market is segmented into two notable segments on the basis of type and application.
- On the basis of type, the market is segmented into homopolymers and copolymers.
- In August 2018, Sinopec petrochemical announced the restart of its polypropylene (PP) business segment in Guangdong China. The new polypropylene plant that has been reopened for manufacturing purposes has a capacity of 200,000 mt/year. This initiation of the polypropylene unit will help the company in the enhancement of overall production of polypropylene.
On the basis of application, the market is segmented into packaging, automotive, medical, construction, consumer products, electrical & electronics and others.
- In February 2019, Total acquired Synova, a France based manufacturer of polypropylene. The acquired company specializes in the production of PP for the automotive sector. With this expansion, the company will expand their business in the French market.
- In April 2019, Mitsubishi Chemical Corporation has expanded the production capacity of their polypropylene compounds, in their Neemrana facility, which is in Rajasthan, India. The production capacity of polypropylene compound is increased from 12,000 tons per year to 18,000 tons per year. With this expansion, the huge demand for PP in the automation sector will be fulfilled.
- In September 2019, LyondellBasell Industries Holdings B.V. has planned to expand their business in China, by going through a joint venture with Liaoning Bora Enterprise Group (Bora). In this project, the company will be using their latest technology in order to produce olefins & polyolefins. With, this expansion, the company will expand their business in the Chinese market
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Competitive Analysis: Global Polypropylene Market
Some of the major players operating in this market are China Petroleum & Chemical Corporation, Total, PetroChina Company Limited, Exxon Mobil Corporation, SABIC, BASF SE, Borealis AG, Braskem, Celanese Corporation, Formosa Plastics Corporation, U.S.A., LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Niche Polymer, PolyOne Corporation, Reliance Industries Limited, Sasol Limited, SCG Chemicals Co., Ltd., Sumitomo Chemical Co., Ltd., Trinseo, Westlake Chemical Corporation among others
Some of the key questions answered in this report:
- Detailed Overview of Polypropylene Market helps deliver clients and businesses making strategies.
- Influential factors that are thriving demand and constraints in the market.
- What is the market concentration? Is it fragmented or highly concentrated?
- What trends, challenges and barriers will impact the development and sizing of Polypropylene Market?
- SWOT Analysis of each key players mentioned along with its company profile with the help of Porter’s five forces tool mechanism to compliment the same.
- What growth momentum or acceleration market carries during the forecast period?
Reasons to Purchase this Report
- Current and future of Global Polypropylene Market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
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