ALBANY, New York, Aug. 20, 2019 /PRNewswire/ -- Globally the demand for polypropylene has increased significantly, as its use in manufacturing films, tubes, fibers, injection-molded products, and other has grown. The demand for polypropylene is growing and that has encouraged several manufacturers are make conscious efforts in research and development activities developing improved polypropylene catalyst. According to market research analysis, the global polypropylene catalyst market seems consolidated, as 70% share are held by two leading manufacturers.
Other players operating in the global polypropylene catalyst market includes INEOS, W. R. Grace & Co.-Conn, Sinopec Corp., Mitsui Chemicals, Inc., and Reliance Industries Limited. Leading players in the market are focusing on using different organic and inorganic strategies to strengthen their position against their competitors. They are also focusing on making strategic alliance with regional players by acquiring them, and planning to strengthen their position in other regions. Exploring new markets and strengthening sales and distribution channels are other key focus areas leading players are emphasizing. For example, in 2017, LyondellBasell inaugurated its third polypropylene compounding plant in Dalian, China. This plant have the capacity of manufacturing 20 kilotons of polypropylene per year. Development of this plant helped the company in effectively meeting the growing demand for polypropylene from the automotive industry.
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By analyzing the market thoroughly, analysts believes that the global polypropylene catalyst market is likely to generate revenue nearly up to US$ 1.4 Bn by the end of 2026 comparatively higher from US$ 1 Bn earned in 2017. During the period of eight years from 2018 to 2026 this market is expected to progress at 4% CAGR.
Asia Pacific to Lead the Global Polypropylene Catalyst Market
The demand for polypropylene catalyst is highest in Asia Pacific due to the supporting manufacturing facilities available in the region. Presence of large number of players such as Mitsui Chemicals, Inc. and LyondellBasell Industries Holdings B.V. has also contributed in making this region a leading market. Prominent players of polypropylene catalyst are willing to expand their manufacturing facilities in countries like China and South Korea due to increasing demand from the home appliance and automobile sectors. Additionally, increasing consumption of polypropylene catalyst in GCC has grown at a significant rate that will increase the production of polypropylene catalyst in MEA region. Sadara Chemical Company, Borouge, and Oman Oil Refineries & Petroleum Industries Company (ORPIC) are three major manufacturers of polypropylene catalyst that will lead the market in the Middle East and Africa.
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Restrict Regulation Obstructing Market Growth
In developed regions, the use of phthalate based polypropylene catalysts is restricted with strict regulations. This factor is projected to obstruct growth in the global polypropylene catalyst market in the coming years. Moreover, increasing focus on cost-effective and hazard-free catalysts that have improved properties have increased the challenges in the global polypropylene catalyst market. However, rising focus on metallocene catalyst that is derived from polypropylene along with growing availability of alternative raw materials for polypropylene production are few positive factors that will help in market's growth. Players are also planning to incorporate different strategies that will help in reducing the effect of these restraints.
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The study presented here is based on a report by Transparency Market Research (TMR) titled "Polypropylene Catalyst Market (Product - Ziegler-Natta Catalyst, Metallocene Catalyst; Process - Gas Phase, Bulk Phase; Application - Films, Fibers, Tubes, Injection-molded Products) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026".
The global polypropylene catalyst market has been segmented as below:
- Ziegler–Natta Catalyst
- Metallocene Catalyst
Process Gas Phase
- Bulk Phase
- Injection-molded Products
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa
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