Table of Contents
The market for polypropylene resins is one of the most important and growing markets in the plastic and polymer industrial sector. The polypropylene resins are used in a wide array of industries and each industry requires thermoplastics with enhanced high performance attributes.
The global market for polypropylene resins is growing at a high pace to reach $ xx m by 2020 and is projected to grow at a CAGR of around xx % during the forecast period of 2014-2020.The global polypropylene resins market for 2014 was segmented into the above mentioned categories based on the grades. The market has the geographic presence through the Americas, Europe, Asia-Pacific and Rest of the world.
China, followed by the U.S. is the largest consumer of polypropylene with around 25% share in the global polypropylene consumption. The increased demand of polypropylene is arising from APAC countries with increasing usage of polypropylene to substitute materials such as paper, metal, glass and wood. This will positively drive the global market for polypropylene resins in the years to come. However, the volatility in the prices of raw materials needed to produce polypropylene resins poses a challenge to the growth of the market.
The usage of resins, especially polypropylene in the medical industry is primarily for consumables and disposable items. It is estimated that in 2015, the global resin market would be dominated by polyvinyl chloride (PVC) resins which occupy about 35% of the global resins market catering for disposable medical supplies. Polypropylene resins follow PVC resins with 28% estimated market share in 2015.
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