Published: 2019-09-27   Views: 3
Author: andrelongbottom
Published in: Business
Polypropylene Market Projected To Show Strong Growth By 2026 | China Petroleum & Chemical Corporation, Total, PetroChina Company Limited

Polypropylene is a linear saturated hydrocarbon polymer that offers many properties such as good chemical resistance, good fatigue resistance, good heat resistance, integral hinge property and translucent behaviour. The polymer provides excellent chemical and electrical resistance to be used in several applications at a very high temperature. Global polypropylene market is expected to register a steady CAGR of 3.6% in the forecast period of 2019-2026. Some of the leading key players profiled in this study: 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

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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.

Business Expansion:

  • 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

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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