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3. New Product Developments, and Agreements were the Key Strategies Adopted by the Major Players to Achieve Growth in the Global Polypropylene Market Between 2013 and 2017

The polypropylene market size is projected to reach USD 99.17 Billion by 2022, at a CAGR of 5.6% between 2017 and 2022. Polypropylene is a thermoplastic polymer which is used in a variety of applications, and is produced by the combination of the propylene monomer with catalysts. It is majorly used in the packaging industry for consumer products, food containers, cosmetic products, beverages, and others. Polypropylene is also used in the automotive industry to manufacture plastic parts, car bumpers, dashboards, and others. There has been a growing demand for polypropylene since the last few years from applications, such as injection molding, fiber and raffia, film and sheet, blow molding, and others.

Expansions, new product developments, and agreements were the key strategies adopted by the major players to achieve growth in the global polypropylene market between 2013 and 2017. The major players in the polypropylene market are LyondellBasell (The Netherlands), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), DuPont (US), INEOS (Switzerland), Total S.A. (France), Formosa Plastics Group (Taiwan), China Petrochemical Corporation (China), LG Chem (South Korea), and Sumitomo Chemicals (Japan).

LyondellBasell Industries Holdings B.V. is a Netherlands based chemical producer. The company majorly operates through five business segments, namely, olefins & polyolefins Americas; olefins & poly-olefins Europe, Asia, international; intermediates & derivatives; refining; and technology. The company produces polypropylene through its olefins and polyolefins segments. The company offers polypropylene for applications in packaging, construction, and automotive industries. In September 2017, LyondellBasell started a new 20 kilotons per year polypropylene compounding plant in Dalian, China. Through this expansion, the company aimed to serve the demand from China’s growing automotive market.

SABIC is a Saudi Arabia based producer of polypropylene. The company operates through four business segments, namely, chemicals, agri-nutrients, metals, and corporate. The company produces polypropylene through its chemicals segment. It produces polypropylene for applications in packaging, automotive, and electronic industries. In September 2017, SABIC continued its global expansion with the establishment of a new polypropylene pilot plant in Geleen, Netherlands. Through this expansion, the company aims to serve the rising demand for polypropylene.

Related Reports:

Polypropylene Market by Type (Homopolymer, Copolymer), Application (Injection Molding, Fiber & Raffia, Film & Sheet, and Blow Molding), End-Use Industry (Packaging, Automotive, Building & Construction, Medical), and Region - Global Forecast to 2022

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