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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