Polypropylene consumption forecast to surpass 62.38 mln tons by 2020

08-Jul-13

In 2011, the global polypropylene consumption was estimated at over 42.28 mln tons. The overall product consumption volume is poised to grow at a nearly 4.4% CARG in the offing and is forecast to surpass 62.38 mln tons by 2020, as per GBI Research. The plastic packaging segment is expected to make the substantial contribution to the market growth. This segment is likely to grow from around 12.79 mln tons in 2011 to more than 19.98 mln tons in 2020, propelled primarily by the flexible and food packaging sub-segments. China has established itself as a leader on the worldwide polypropylene arena.Moreover, the demand for polypropylene from the equipment and facilities and electrical industries is expected to show robust growth and amount to above 2.98 mln tons by 2020, due to sustainable economic growth, developing industrialization and improving lifestyles. Organic plastic polypropylene segment has a healthy outlook through 2020. The Asian polypropylene market is expected to experience the upswing of demand for polypropylene in the next decade.