Lucintel Report Outlines Rising Demand in End-user Market to Drive Polypropylene Industry Globally

Feb. 23, 2013 - PRLog -- Texas, United States: 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 firm, has analyzed the global polypropylene industry and presents its findings in “Global Polypropylene Industry 2012-2017: Trend, Profit, and Forecast Analysis.”

The polypropylene 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 market 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.

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