San Francisco, Dec. 02, 2015 (GLOBE NEWSWIRE) — Growth of key end-use industries such as packaging and automotive in Asia Pacific is expected to drive the global Synthetic and Bio-Based Polypropylene Market the forecast period. In addition, increasing construction spending particularly in emerging markets of China, India and Indonesia is also expected to have a positive influence on the market growth. Volatile propylene prices on account of constantly fluctuating crude oil prices are expected to remain a key challenge for market participants. Stringent environmental regulations regarding production and disposal of polypropylene is also expected to degrade the market growth over the forecast period. In order to overcome these issues, major participants have shifted their focus towards development of sustainable polypropylene.
Injection molding emerged as the leading application segment and accounted for 46.1% of total market volume in 2014. Shift towards replacement of steel automotive industry in order to improve fuel efficiency of automobiles is expected to remain a key driving factor for this segment over the forecast period. Films are expected to witness the highest growth rate of 5.7% from 2015 to 2022. Growing demand for BOPP films for myriad of applications is expected to drive this segment over the forecast period.
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Further key findings from the study suggest:
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Global Polypropylene Application Outlook (Volume, Million Tons; Revenue, USD Million, 2012 – 2022)
Global Polypropylene Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2012 – 2022)
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