Polypropylene market to reach US$133.39 billon by 2023
Published by Angharad Lock,
Digital Assistant Editor
Hydrocarbon Engineering,
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/
You might also like
Hydrocarbon Engineering Podcast
Leakhena Swett, President of the International Liquid Terminals Association (ILTA), and Jay Cruz, Senior Director of Government Affairs and Communications, join us to consider the key role that industry associations have to play in the sectors that they serve.
Catalyst Technologies to be sold to Honeywell for £1.8 billion
An agreement to sell Catalyst Technologies for £1.8 billion with cash return of £1.4 billion has been reached between Johnson Matthey and Honeywell.
