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Emerging markets will continue to boost PP demand
04
Aug '12
The dynamic economic development in emerging markets will continue to boost demand for polypropylene (PP), according to a report by market research analysts Ceresana.
 
The research firm expects the global polypropylene market to reach US$ 145 billion by 2019.
 
The study says that PP market has grown at an annual average growth rate of 4.4 percent during the last eight years, and this growth rate would be surpassed in the coming years.
 
Countries in the Asia-Pacific region already account for more than half of worldwide PP consumption, followed by Western Europe and North America. But the report estimates the distribution of demand for PP in the various regions of the world is likely to change notably.
 
The analysts from Ceresana forecast countries in Asia-Pacific to increase their shares of the global PP market, mainly at the expense of saturated industrialized countries. 
 
The changes in regional demand will also result in modification in production structures. The current global PP capacity of about 62 million tons would increase to over 95.5 million tons by 2019 and more than 57 percent of these new capacities will be built in the Asia-Pacific region, the report states.
 
Producers of flexible and rigid packaging remain major consumers of PP with an aggregated demand of more than 50 percent. Fibres made from PP as well as consumer goods currently have a share of around 12 percent each. 
 
In the coming eight years till 2019, the use of PP in fibres is expected to grow at 2.8 percent per annum, as per the study.
 

Fibre2fashion News Desk - India

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