Global polypropylene market to hit £100bn by 2019
By European Plastics News staff
Posted 6 August 2012
Market research analysts Ceresana say the global market for polypropylene (PP) will reach £100bn by 2019, boosted by especially strong growth in emerging markets.
Countries in Asia Pacific already account for more than half of sales, making the region the most important sales market, ahead of Western Europe and North America. And moving forward, the Asia Pacific area will take up an even greater chunk at the expense of industrialised countries, said Ceresana.
Global PP capacity is likely to increase by more than 23.5m tonnes by 2019 and 57% of these new capacities will be built in Asia Pacific.
Currently, the major consumers of PP are producers of flexible and rigid packaging, who account for an aggregated demand of 50%. Fibres made of PP and consumer goods accounted for a 12% each.
The sectors of electrics and electronics, as well as transportation and construction, accounted for 6% each.
The largest increase in demand over the next eight years will be for the transportation industry – 5.8%.
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