PROPYLENE MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Rise of polypropylene based derivatives

A major driver accelerating propylene consumption is the rise of polypropylene-based downstream products. Polypropylene (PP) is synthesized from propylene and finds extensive applications across industries. The global polypropylene capacity has been significantly enhanced over the years to cater to the growing needs of various. PP possesses characteristics such as durability, heat resistance, corrosion protection, and flexibility which makes it appropriate for diverse applications. The automotive industry has emerged as a prominent consumer of polypropylene compounds. Different interior and exterior automotive parts such as seat belts, airbags, bumpers, instrument panels, side panels, and spoilers incorporate PP for its properties like lightweight, thermal stability, and durability. Appliance manufacturers also depend on PP for water supply pipes, dispenser components, home care product containers, and wire and cables coating.