LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global polypropylene (PP) market report from 2017-2021. This market research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
Due to the presence of many regional vendors the market is fragmented. Factors such as the cost of production, innovation in products, price, operational cost, investment in R&D, and product quality will further intensify the market over the next five years. Companies such as China Petrochemical is developing bio-based polypropylene and extending their product portfolio with increased investment in R&D.
According to Kshama Upadhyay, a lead analyst at Technavio for plastics, polymers, and elastomers, “The global polypropylene market is expected to grow at a moderate pace during the forecast period due to its high demand from the packaging and automobile segments. However, the growth prospects of polypropylene market differ from one region to another. Recently, polypropylene is used increasingly in the packaging segment, which is expected to witness rapid growth in the coming years.”
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Technavio market research analysts identify the following key vendors:
Braskem has grown to become one of the leading producers of propylene in the US and a major player in the international petrochemical market. The company's product portfolio is quite vast and includes benzene, polyethylene, PP, toluene and xylene, solvents, propylene, ethylene, naphtha, PVC/ caustic soda/EDC, butadiene, ETBE/ gasoline, cumene, and other chemical products. Braskem is known for serving numerous industries, such as agriculture, automobile, civil and construction, cleaning supplies, personal hygiene, cosmetics, packaging, electronics and home appliances, toys, clothing and shoes, sanitation, and fuel additives.
China Petrochemical (Sinopec Group) is an oil and energy company. The company offers household and commercial products, including oil products, fuel cards, lubricants, liquid petroleum gas, catalyst, asphalt, and natural gas. The company is involved in the exploration, production, distribution, storage, and marketing of petroleum oil and natural gas. In addition, the company is also involved in oil refining and distribution of petrochemicals, coal chemicals, and synthetic fiber products. In addition, the company is involved in R&D activities and marketing of mechanical and electrical equipment.
Exxon Mobil is a global gas and oil exploration company and is present in 21 countries. The company functions through two geographical regions- the US and the non-US and has drilling wells in different countries, including the UK, Angola, and Indonesia. Exxon Mobil manufactures and markets olefins, aromatics, fluids, synthetic rubber, polyethylene, oriented PP packaging films, additives for fuels and lubricants, plasticizers, synthetic lubricant base stocks, zeolite catalysts, and other petrochemical products.
INEOS Group Holdings
The company manufactures chemicals and operates in three segments: Olefins & Polymers Europe, Olefins & Polymers North America, and Chemical intermediates. The company manufactures petrochemicals, specialty chemicals, and oil products. The company’s petrochemicals business is handled by INEOS Olefins & Polymers USA and produces four main products- olefins, high-density polyethylene, polypropylene, and high-density polyethylene pipe.
LyondellBasell Industries Holdings
LyondellBasell Industries Holdings carries out the production and sale of polyolefins and polypropylene compounds, propylene oxide, polyethylene, ethylene, propylene, and biofuels. In addition, the company is involved in refining crude oil into products such as gasoline, diesel, and jet fuel. The company’s products are widely applicable in various sectors such as packaging, biofuels, automotive components, electronics, home furnishings, medical supplies, and construction materials.
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