The export of Polypropylene from China has shown significant growth from 2013 to 2023, where in 2023 it stood at 397.5 million kilograms. The year-on-year variation in 2022 was 10.46%, while in 2023 it slowed to 4.61%. The compound annual growth rate (CAGR) over the last five years until 2023 was 4.99%, indicating steady growth. Dynamically, the period from 2013 to 2017 witnessed high growth rates, highlighting an emergent phase, which moderated post-2017 into a phase of slower, more stable gains.
Trends for the future, up to 2028, forecast a continued increase, albeit at a decelerated rate, with a projected 5-year CAGR of 3.27%, summing to an overall growth rate of 17.44% over the forecast period. This suggests that the market is moving towards a more mature phase with incremental improvements, driven by sustainable demand rather than explosive growth.
Future trends to watch for:
- Shifts in global demand influenced by macroeconomic factors
- Technological advancements in production efficiency
- Regulatory changes pertaining to environmental concerns
- Competitor moves in the international market
