LONDON--(BUSINESS WIRE)--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 Technavio. Request a free sample report
A key factor driving the growth of the market is the increasing demand for polypropylene. Lightweight materials are extensively being used in construction, packaging, and automotive industries. This subsequently increases the demand for polypropylene. 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, which in turn, will boost the market growth.
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As per Technavio, the rising production of polypropylene will have a positive impact on the market and contribute to its growth significantly 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
Rising production of polypropylene will be one of the critical trends in the global polypropylene catalyst market. The polypropylene catalyst sector has increased due to the high use of polypropylene by end-users. The manufacturers of polypropylene are expanding their production capacity and establishing new plants owing to high demand. Significant opportunities have emerged 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 sector, which will boost the market growth.
“Apart from the rising production of polypropylene, the high focus on metallocene catalyst-based polypropylene production and the increased demand for Ziegler-Natta catalyst are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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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 (Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by EMEA and Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growth of construction, automotive, and packaging industry in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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