About this market
Rising production of polypropylene to drive market growth. The demand for polypropylene from certain end-user industries has helped the market experience capacity expansions over the last five years. The high demand for polypropylene has compelled its manufacturers to expand their production capacity and establish new plants. analysts have predicted that the polypropylene catalyst market will register a CAGR of nearly 6% by 2023.
Market Overview
Growing demand for low-cost carriers
Increasing demand for polypropylene to drive market growth. The use of lightweight materials in certain industries such as the construction, packaging, and automotive industry will hike the demand for polypropylene. Polypropylene is increasingly used in several end-use applications that include making fibers for carpets, rugs and upholstery, housewares, and automotive components.
Fluctuating raw material prices
The fluctuating prices of raw materials are expected to hamper the demand for polypropylene catalysts during the forecast period. High prices of raw materials are also a rising concern for polypropylene manufacturers.
For the detailed list of factors that will drive and challenge the growth of the polypropylene catalyst market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including LyondellBasell Industries and Mitsui Chemicals the competitive environment is quite intense. Factors such as the rising production of polypropylene and the increasing demand for polypropylene, will provide considerable growth opportunities to polypropylene catalyst manufactures. China Petroleum & Chemical, Clariant, LyondellBasell Industries, Mitsui Chemicals, TOHO TITANIUM, and W.R. Grace & Co are some of the major companies covered in this report.