Global polypropylene catalyst market expected to reach USD 1.61 billion in 2024 and is anticipated to grow at a CAGR of 6.0% between 2018 and 2024. Polypropylene is used extensively in various end-user industries. Polypropylene is produced by the reaction known as polymerization by using polypropylene catalyst.
Sarasota, FL -- (SBWIRE) -- 10/12/2018 -- Zion Market Research has published a new report titled "Polypropylene Catalyst Market by Type (Ziegler-Natta Catalyst, Metallocene Catalyst, and Others), by Process (Gas Phase, Bulk Phase, and Others) and by Application (Films, Fibers, Tubes, Injection-molded Products, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024". According to the report, global polypropylene catalyst market was valued at USD 1.07 billion in 2017, is expected to reach USD 1.61 billion in 2024 and is anticipated to grow at a CAGR of 6.0% between 2018 and 2024.
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Polypropylene is used extensively in various end-user industries. Polypropylene is produced by the reaction known as polymerization by using polypropylene catalyst. This polypropylene is widely used in the packaging and labeling industry. There are various types of polypropylene catalysts such as Ziegler-Natta catalyst, the metallocene catalyst, and others. Amongst these catalysts, Ziegler-Natta catalyst is widely used catalyst due to its versatility.
The polypropylene catalyst market is projected to grow at the fastest pace in the forecast period, owing to the increasing demand for polymeric products in several industries across the world. Moreover, increasing requirement for lightweight, high-performance, durable plastics in appliances, automotive, and packaging industries is estimated to boost the demand for the polypropylene catalyst market in the forecast period. Rising demand for polypropylene in home furnishings such as indoor-outdoor carpets and upholstery is expected to propel the demand for the polypropylene catalyst market. However, fluctuating prices of polypropylene catalyst may hamper the polypropylene catalyst market growth in the future. Nevertheless, the growing automotive industry in emerging countries is expected to increase the usage of polypropylene.
The global polypropylene catalyst market can be segmented on the basis of type, process, application, and regions. On the basis of type, the global polypropylene catalyst market is classified into Ziegler-Natta catalyst, the metallocene catalyst, and others. In 2016, the Ziegler-Natta catalyst segment of polypropylene catalyst market accounted for the highest market share. Due to its versatile properties like lightweight and high durability, polypropylene is widely used in a varied range of application. The Ziegler-Natta catalyst is an inexpensive and controlled production of polypropylene, which, in turn, is projected to spur the polypropylene catalyst market in future.
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Metallocene catalyst is expected to grow gradually due to the high price as compared to a Ziegler-Natta catalyst. Based on application, the polypropylene catalyst market is segregated into fibers, tubes, films, injection-molded products, and others. Increasing demand for polypropylene fiber in home furnishing and in automotive is expected to boost the demand for polypropylene. Therefore, this, in turn, is estimated to escalate the demand for polypropylene catalyst market in the upcoming years. Growing usage of injection-molded products across the globe is expected to witness considerable growth in the forecast period.
The Asia Pacific emerged as the leading market for polypropylene catalyst, followed by North America. Increasing demand for polypropylene from home appliance and automobile applications is likely to boost the polypropylene production, thereby, propelling the polypropylene catalyst market. Europe is expected to grow substantially in the upcoming years due to increasing demand for polypropylene in the packaging industry. Moreover, various major manufacturers of polypropylene catalyst are expanding their manufacturing facilities, which, in turn, is anticipated to escalate the polypropylene catalyst market growth. Moreover, rapid industrialization in Latin America is likely to hold immense potential for polypropylene catalyst market. The Middle East & Africa is anticipated to grow moderately owing to the growing demand from the automotive industry.
The polypropylene catalyst market consists of a large number of players and is highly fragmented. Companies involved in this market are AkzoNobel N.V., Mitsui Chemicals, W.R. Grace Chemicals, Sinopec, Albemarle, Lyondell Basel, Univation Inc., and BASF SE, among others.
Browse the full "Polypropylene Catalyst Market" report at https://www.zionmarketresearch.com/report/polypropylene-catalyst-market
The report segments the global polypropylene catalyst market as:
Global Polypropylene Catalyst Market: Type Analysis
Global Polypropylene Catalyst Market: Process Analysis
Global Polypropylene Catalyst Market: Application Analysis
Global Polypropylene Catalyst Market: Regional Analysis
The Middle East and Africa