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07-25-2014

China and Russia to Lead Global Polypropylene Capacity Additions by 2018

Global polypropylene capacity increased at a Compound Annual Growth Rate (CAGR) of 5.2% from 2003, reaching 65 million tons per year in 2013, and is expected to continue rising to 86 million t/a by 2018, at a slightly higher CAGR of 5.8%, according to research and consulting firm GlobalData, London, UK.

The company’s latest report ("Global Demand, Capacity and Prices for Polypropylene – End-Use Sectors in Asia-Pacific to Drive Growth") states that China and Russia will be the leading contributors to future polypropylene capacity increases, and will account for a combined 45% of global additions over the next five years. A demand-side push is driving additional capacity in China, forcing it to produce more domestic polypropylene. China will lead new global polypropylene capacity increases over the next five years, as its goal of self-sufficiency drives 7.48 million t/a of additions, of which 97.6% will come from new plants and the remainder from the expansion of existing facilities. GlobalData forecasts that the country will account for 62.4% and 35.5% of planned Asian and global capacity additions by 2018, respectively.

According to the analyst, Russia will be the second largest contributor to growth, mainly due to the country’s recent diversification into the petrochemicals sector, which has seen substantial investment in bulk polymer industries, such as polyethylene and polypropylene. GlobalData also states that Venezuela and India will be the respective third and fourth largest contributors to capacity increases over the next five years, with both countries investing in the polypropylene sector to cater to the domestic market and replace imports.

GlobalData's report provides in-depth analysis of the demand and supply dynamics of the global polypropylene industry, including historic and forecast capacity, market size, demand volume and production volume by region. It also provides details of planned polypropylene plants, major producers’ capacity shares and profiles of the three largest companies in the polypropylene industry. The report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.

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