Global PP market to grow in the next 4 years at 4–4.5% CAGR

29-Dec-14

The global polypropylene (PP) market is predicted to grow in the next 4 years, posting an annual growth rate of 4–4.5%. The APAC and Middle East and African regions are expected to be the major regional PP markets, ass per Merchant Research & Consulting Ltd. The APAC region dominates the global PP market in terms of consumption, primarily owing to the rising consumption in the key end-use sectors in the region. China currently leads the world PP market in terms of PP imports volumes. Meantime, the European PP demand is anticipated to record positive yoy growth in the offing, mainly due to the increasing PP usage instead of such conventional materials as metal and glass.In 2013, the packaging industry was the major PP application sphere, accounting for 32% of the total PP consumption. New PP production capacities are scheduled to be installed in the APAC region and across the CIS countries. Besides, some of PP facilities in the Middle East, which are under reconstruction, are set to be re-launched in the upcoming years.