Asia-Pacific to drive growth in polypropylene market, report predicts
KONSTANZ, Germany — According to a new report from industrial market research firm Ceresana, worldwide sales of polypropylene are expected to amount to more than $145 billion in 2019, driven primarily by Asia-Pacific countries.
Asian-Pacific countries already account for more than half of worldwide polypropylene consumption. Thus, this region is the most important sales market, followed by Western Europe and North America. Yet distribution of demand for polypropylene 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 polypropylene market — mainly at the expense of saturated industrialized countries.
Changes in regional demand will also have an effect on the production structure of manufacturers, according to Ceresana. The global polypropylene capacity of about 62 million tons is likely to extend by more than 23.5 million tons by 2019. More than 57% of these new capacities will be built in the Asia-Pacific region.