Global PP industry forecast to grow at CAGR of 3.7% from 2012-2017, reach US$92B in 2017, driven by rising demand in end-user markets, including packaging, automotive, construction, according to report
December 26, 2012
– The global polypropylene industry experienced growth over the last five years and is expected to continue its growth momentum reaching approximately US $92 billion in 2017 with a CAGR of 3.7% over the next five years. Rising demand in end-user markets such as packaging, automotive, and construction are expected to drive the industry.
Lucintel, a leading global management consulting and market research company, has analyzed the global polypropylene industry and presents its findings in “Global Polypropylene Industry 2012-2017: Trend, Profit, and Forecast Analysis.”
The chemical market research industry is consolidated and consists of high-density polypropylene, linear low-density polypropylene, and low-density polypropylene as segments. The Asia Pacific (APAC) region dominates this industry, accounting for 55% of the global market. A combination of factors such as demographic conditions, economic stability, and environmental regulations has had a significant impact on the industry dynamics.
Lucintel’s research indicates that in 2011, the industry witnessed robust growth over 2010 due to the rise in polypropylene feedstock prices, such as the price of naphtha, which is directly related to crude oil prices. The industry is moving toward consolidation as the key companies develop expansion plans to seize future opportunities in the polypropylene market, which ultimately consolidates the industry.
Continuous technological progress and strong R&D capabilities increased the application of polypropylene, thereby acting as a driver for the industry’s growth. APAC represents a sound growth market for the polypropylene industry during the forecast period due to changing food consumption patterns and increasing demand from emerging areas within the region.
As the study indicates, technological development improvement through strong R&D activities is expected to drive the industry by leading to more innovative products. Highly volatile feed stock prices and energy inputs for final products create uncertainty and poses a challenge to the global polypropylene industry.
For a detailed table of contents and pricing information on this timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, market insight, and cost efficiency.
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