China Petroleum and Chemical Corporation, Total and PetroChina Company Limited are dominating the Global Polypropylene Market in 2018

Global Polypropylene Market is expected to register a steady CAGR of 3.6% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below:

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The polypropylene market is a highly concentrated market which includes key players and local players. The market is growing owing to the favourable market scenario The market has a prominent growth in upcoming years due to growing electronics demand leading to the high packaging materials consumption and growing preference and consumption of lightweight materials.

The market has witnessed developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technologies. For instance, In April 2018, Braskem launched New Prisma 6810 Polypropylene plastic that offers stiffness, transparency and toughness to be used in various thermoforming applications. The company showcased its product at the world's leading plastics trade show and conference, NPE 2018.

China Petroleum & Chemical Corporation dominated the global polypropylene market. The other key players in the market include Total, PetroChina Company Limited, Exxon Mobil Corporation, SABIC, BASF SE, Borealis AG, Braskem, Celanese Corporation, Formosa Plastics Corporation, U.S.A., LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Niche Polymer, PolyOne Corporation, Reliance Industries Limited, Sasol Limited, SCG Chemicals Co., Ltd., Sumitomo Chemical Co., Ltd., Trinseo, Westlake Chemical Corporation among others.

China Petroleum & Chemical Corporation:

China Petroleum & Chemical Corporation headquartered in Beijing, China was founded in 2000. The company is a leading manufacturer of specialty chemicals that are utilized for various different industries. It operates through six business segments which include marketing and distribution segment, refining segment, chemicals segment, exploration and production segment, corporate and others. Chemicals segment is the market focused segment. The product categories of the company include household products, commercial products, license, fine & specialty chemicals in which fine & specialty chemicals is market focused category. The company has 423,543 employees as of 31st, December 2018.

  • In August 2018, Sinopec petrochemical announced the restart of its polypropylene (PP) business segment in Guangdong China. The new polypropylene plant that has been reopened for manufacturing purposes has a capacity of 200,000 mt/ year. This initiation of the polypropylene unit will help the company in the enhancement of overall production of polypropylene.

It has its global networks through direct sales representatives and distributors China. The company has various subsidiaries such as SINOPEC Zhongyuan Oilfield Company (China), Henan Nanyang Oilfield (China), SINOPEC Hunan Oil Products Company (China), Petro-Cyber Works Information Technology Co., Ltd. (China) among others.

Total:

Total S.A. headquartered in Paris la Défense cedex, France was founded in 1920. The company is diversified into gas, refining, petrochemicals and petroleum product marketing, as well as solar power, bio-energies and energy storage. It operates through five business segments which include refining & chemicals, marketing & services, gas, renewables & power, exploration & production. Refining & Chemicals is the market focused segment. The product categories of the company include aviation, total additives and special fuels, batteries, bitumen, fuels, heating, specialty chemicals, energy efficiency, special fluids, natural gas and power, lubricants, marine, polymers, solar energy in which polymers is market focused category. The company has 104,460 employees as of 31st, December 2018.

  • In February 2019, the company acquired Synova, a France based manufacturer of polypropylene. The acquired company specializes in the production of PP for the automotive sector. With this expansion, the company will expand their business in the French market.

It has its global networks through direct sales representatives and distributors North America, South America, Europe, Middle East and Asia-Pacific. The company has various subsidiaries such as Total Refining & Chemicals Saudi Arabia S.A.S (Saudi Arabia), Total China Investment Co Ltd (China), Total Gestion USA (U.S.), Total Raffinage France (France) among others.

PetroChina Company Limited:

PetroChina Company Limited is headquartered in Beijing, China was established in 1999. The company manufactures chemical and refined products to be used in wide range of applications such as construction, automotive, medical, printing and many others. The company operates through six business segments, which include marketing, natural gas and pipeline, refining and chemicals, exploration and production, head office and others. Refining and chemicals is the market focused segment of the company. The product categories of the company include products and services in which products is market focused category. The company has 476,223 employees as of 31st, December 2018.

  • In July 2019, PetroChina Company Limited signed a joint research framework agreement with China Petroleum and Chemical Corporation (Sinopec). The agreement will help the company to enhance oil and gas exploration and development.

It has its global networks through direct sales representatives and distributors in China. The company has various subsidiaries such as Daqing Oilfield Company Limited (China), PetroChina International Company Limited (China), PetroChina Hong Kong Limited (Hong Kong), PetroChina Pipelines Co., Ltd. (China) among others.