Asia-Pacific Polypropylene Market By Type (Homopolymers, Copolymers), Application (Packaging, Automotive, Medical, Construction, Consumer Products, Electrical & Electronics, Others), Country (China, India, Japan, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific) – Industry Trends and Forecast to 2026
Polypropylene is a linear saturated hydrocarbon polymer that offers many properties such as good chemical resistance, good fatigue resistance, good heat resistance, integral hinge property and translucent behaviour. The polymer provides excellent chemical and electrical resistance to be used in several applications at a very high temperature. Polypropylene polymers are manufactured when monomers of propylene are subjected to heat and pressure in the presence of a catalyst system. Polypropylene homopolymers provide high strength and are stronger and stiffer than copolymers. Growing demand for polypropylene for the packaging of various goods is leading to growth in demand for global polypropylene market.
Asia-Pacific polypropylene market is expected to register a steady CAGR in the forecast period of 2019-2026.
Segmentation: Asia-Pacific Polypropylene Market
Asia-Pacific polypropylene market is segmented into two notable segments on the basis of type and application.
- On the basis of type, the market is segmented into homopolymers and copolymers.
- On the basis of application, the market is segmented into packaging, automotive, medical, construction, consumer products, electrical & electronics and others.
Competitive Analysis: Asia-Pacific Polypropylene Market
Some of the major players operating in this market are China Petroleum & Chemical Corporation, 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.
- 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.
- In December 2018, Hanwha Total Petrochemical, a joint venture between Hanwha and Total, has expanded their petrochemical complex of South Korea in order to increase the capacity of polypropylene production by 60%. With this move, the company will be able to fulfil the demands of customers across the globe.
- In May 2017, Esso Italiana & Exxon Mobil Corporation entered into multi-year and technological contracts. The company made partnership agreement with SONATARCH for refinery products. The agreement covers all the products of waxes and base stocks from Augusta that will now be sold under the name ExxonMobil.
Research Methodology: Asia-Pacific Polypropylene Market
Primary Respondents: Key Opinion Leaders (KOL’s): Manufacturers, Distributors, Industrial Professionals. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers.