Polypropylene Market For Packaging, Automotive, Consumer Products, Electrical & Electronics, Construction and Other End-User Industries - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

Albany, NY -- (SBWire) -- 01/09/2015 --In its market research report published recently, Transparency Market Research, a U.S. - based market intelligence firm states that the global polypropylene market which had a market value worth US$77.46 billion in 2012 is expected to report a value of US$124.01 billion by 2019 growing at a CAGR of 6.3% between the years 2013 and 2019. The report, titled 'Polypropylene Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,' is now available for sale on the company's website.

As per this market research report, the global polypropylene market is fueled by rising demand from end-use markets like that of construction, consumer products, packaging, and automotive. These end-use industries are mainly driven by factors like changes in lifestyles, and rising disposable incomes worldwide especially in the economies of the Asia Pacific. The main growth restraining factors prevailing in the global polypropylene market are fluctuating prices of raw materials, and rising environmental problems. The latest trend facing the global polypropylene market is a shift of focus from synthetic polypropylene to bio-based polypropylene.

This research report has discussed in detail the significance and importance of polypropylene. As the name suggests, polypropylene which is a thermoplastic polymer is derived from the catalytic polymerization of propylene monomer. Polypropylene, a highly versatile polymer is a widely applied material across several industries owing to its characteristic properties like high resistance to chemicals, hard surface, and high tensile strength. Due to these properties, many polyolefins are being replaced by polypropylene. The production of polypropylene depends on the availability of inputs to a marked extent. The availability of the inputs in turn depends significantly on the production of natural gas and crude oil.

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The TMR report has segmented the global polypropylene market on the basis of the end-use industries and geography. On the basis of end-use industries, the global polypropylene market has been classified into consumer goods, construction, electrical goods, packaging, and automotive. Hitherto, the largest polypropylene market is that of packaging because of its unique properties like moisture resistance, transparency, twist retention, seal ability, and stiffness. It is expected that the packaging segment of the global polypropylene market will grow at 5.9% CAGR between the years 2013 and 2019. The second largest consumer of polypropylene in the global polypropylene market is the automobiles industry. The demand for polypropylene in the automobiles market is driven by its excellent mechanical and moldability properties, and its low cost as against most of the plastic materials used in manufacturing automobiles. The processing of polypropylene can be carried out via the three main thermoplastic methods which are extrusion, blow molding, and injection molding.

According to this market research report, geographically, the polypropylene market is dominated by the Asia Pacific. The European market for polypropylene is also witnessing significant growth from the automotive segment which is witnessing the substitution of the traditional materials like glass and metal with polypropylene. The polypropylene market in North America is mainly driven by the automobiles sector and the packaging sector. It is expected that China will be the most rapidly growing market in the Asia Pacific polypropylene market in the forthcoming years.

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Some of the prominent players mentioned in the report are Total Refining and Chemicals Business, China Petroleum & Chemical Corporation (Sinopec), SABIC (Saudi Basic Industries Corporation), Reliance Industries Limited, PetroChina Co. Ltd., LyondellBasell, Japan Polypropylene Corporation, INEOS Olefins and Polymers Europe, Formosa Plastic Corporation, U.S.A, ExxonMobil Chemical, Braskem, Borealis AG, and BASF AG.

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