Global Polypropylene Catalyst Market 2019-2023| Increasing Production to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Jan 10, 2019--The global polypropylene catalyst market is expected to post a CAGR of nearly 6% during the period 2019-2023, according to the latest market research report by .
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Technavio has released a new market research report on the global polypropylene catalyst market for the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing demand for polypropylene. In industries such as construction, packaging, and automotive, the use of lightweight materials will increase the demand for polypropylene. In the food and beverage industry, the demand for lightweight plastic is a key driving factor for the market. Polypropylene is extensively used to manufacture bottle caps, packaging films, plastic bags, and other packaging materials. It is also used in food packaging, sweet and snacks wrappers, hinged caps, and microwave-proof containers for packaging applications.
As per Technavio, the rising production of polypropylene will have a positive impact on the market and contribute significantly to its growth over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global polypropylene catalyst market: Rising production of polypropylene
The increasing demand for polypropylene from certain end-user industries has led to capacity expansions over the last five years. The manufacturers of polypropylene are expanding their production capacity and establishing new plants owing to high demand.
“Significant opportunities have come up for the polypropylene catalyst manufacturers due to the establishment of new production facilities. This also helps end-user industries such as the construction, automotive, and packaging industries,” says a senior analyst at Technavio for research on diversified chemicals.
Global polypropylene catalyst market: Segmentation analysis
This market research report segments the global polypropylene catalyst market by technology (gas phase, bulk phase, and others) and geographical regions (APAC, EMEA, and the Americas).
The gas phase segment held the largest market share in 2018, accounting for 51% of the market. This technology segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of nearly 53%. This region is expected to dominate the market through 2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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