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Polypropylene Market Key Players:The Dow Chemical Company (U.S.), LyondellBasell (U.S.), Exxon Mobil Corporation (U.S.), SABIC (Saudi Arabia), INEOS (Switzerland.), LANXESS (Germany), Chevron Phillips Chemical Company (U.S.), Eni S.p.A. (Italy), BASF SE (Germany), and LG Chem (South Korea) among others are some of the prominent players at the forefront of competition in the global Polypropylene Market and are profiled in MRFR Analysis.
Polypropylene Market Segmentation:
Polypropylene is segmented into application. On the basis of application, the market is further categorized into agriculture, automotive, construction, packaging, electrical & electronics. Among these, automotive segment holds a major share in the market owing to growing use of plastic materials to produce high performance and efficient vehicles. The investors in the agriculture industry are encouraging the manufacturers to use lightweight materials in increasing the quality and the production of food in the agriculture segment.
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Moreover, the packaging segment is estimated to witness a rapid growth in the market due to advantages offered by the product such as flexibility, less storage space and ability to survive in extreme conditions. The electrical & electronics segment is set to grow at a higher CAGR due to boundless consumption of plastics in mobile phones, tablets, computers, and others. Moreover, the increasing substitution of heavy metals by lightweight materials in automotive and electrical & electronics segments are projected to drive the market during the forecast period.
Polypropylene Market Overview:
Polypropylene is a thermoplastic material which is used for manufacturing fibers or molded materials. It offers good mechanical and chemical resistance along with translucent features. Excellent stiffness, flexibility and lightweight properties are the important trends and factors promoting the market confidently. Owing to these factors, they are used in various applications such as agriculture, automotive, construction, packaging, electrical & electronics, and others.
As per our analysis, the global polypropylene market is bifurcated based on application. On the basis of application, the market is sub-divided into agriculture, automotive, construction, packaging, electrical & electronics, and others. Among these, automotive segment holds a major share of the market on account of the growing use of polypropylene materials to manufacture high standard and efficient vehicles.
Polypropylene Market Regional Analysis:
Asia pacific is expected to be the fastest growing region during the forecast years. The increasing Globalization and urbanization in the developing economies of the region has propelled the construction of residential and commercial infrastructure which is a dominant factor for the demand for paint and coatings in the region. Moreover, increasing population in India and China has brought about more government spending in infrastructural developments coupled with the growing automobile industry in the region is also expected to drive the market of polypropylene positively during the forecast years. Furthermore, the presence of agrarian economies such as India and China have further boosted the demand for polypropylene in the agricultural sector, which is also positively affecting the market growth.
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Industry/ Innovation/ Related News:
18th December 2017 - Saudi Arabian chemicals company SABIC has set up a new production facility in Geleen, Netherland. This new facility is built on the state of art process technology and is expected to produce next generation polypropylene copolymers to cater to the growing demand from the automotive and building & construction industries. This new expansion strategy is a part of SABIC’s 2025 global expansion strategy which is expected to further boost the global market of polypropylene.
1st January 2018 - The Canadian hydrocarbon pipeline and processing firm has accepted a US$ 2.7 billion propylene and propane dehydrogenation plant with a production capacity of 525000 metric tons of polypropylene per year in Alberta, Canada. This plant is expected to be the most cost-effective plant in the region. This plant is expected to further boost the market of polypropylene in North America.
Polypropylene Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Polypropylene Market
Polypropylene Market Table of Content to be Continue...….,
Complete List of Tables and Figures @ https://www.marketresearchfuture.com/reports/polypropylene-market-1063
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