According to a report published by Transparency Market Research the polypropylene market is expected to reach US$133.39 billion in 2023, expanding at a CAGR of 5.7% between 2015 and 2023.
The rise in demand in the packaging industry, which accounted for over 45% of the demand in 2014, is likely to augment the global polypropylene market in the next few year, as is the increased demand for lightweight vehicles. The automobile industry was the second-largest consumer of polypropylene in 2014 as polypropylene can reduce the overall weight of the vehicle when used effectively.
Edited from press prelease by Angharad Lock
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/28082015/polypropylene-market-to-reach-us133-billon-by-2023-1322/