Worldwide PP consumption likely to reach 62.4 million tonnes by 2020
WASHINGTON : According to a recently published research report, the global polypropylene demand is expected to grow at a compounded annual growth rate (CAGR) of 4.5% from 42.3 million tons in 2011 to 62.4 million tons by 2020.
According to the report released by US based GBI research, the PP demand from Asian countries are poised to rise significantly. Asian countries-especially China, South Korea, Japan and India will see increased PP demand. The North American polypropylene demand will see recovery during the period. On the other hand, the demand from Europe will further weaken due to the ongoing Euro zone crisis situation.
The packaging industry demand for PP is estimated to reach 20.1 million tons by 2020, the report says.
GBI Research publishes in-depth strategic intelligence reports in a broad range of professional industries, including, pharmaceuticals, medical devices, alternative energy, power, clean technology, oil and gas and chemicals. The reports draw on in-depth primary and secondary research, proprietary databases and high quality analysis from thier in house and external expert teams.