Polypropylene is a thermoplastic polymer which is prepared by the polymerization of propylene. Catalyst plays a very important role in the polymerization of propylene to polypropylene. During the manufacturing of polypropylene, catalyst component is used depending upon the process. The global polypropylene catalyst market is registering a good growth in the recent years, owing to the increasing demand of catalyst to produce polypropylene for further use. Polypropylene is used in a wide range of applications such as food packaging, ropes, plastic parts, textiles, laboratory equipment, automotive components, and others.
The production of polypropylene is increasing to meet the demand from various industries for different applications including packaging of consumer products, automotive products, textiles, housewares, medicines, tubing, and others. Moreover, polypropylene is one of the most commonly used plastic across the world, hence the demand of the same is increasing, resulting in the growth of the market.
Development of hazard free catalyst with improved properties is the major challenge identified in the polypropylene catalyst market growth. The manufacturers of polypropylene are demanding improved catalysts with better properties for the production of polypropylene.
Propylene prices are highly dependent on the crude oil prices, making it highly volatile, and can also hinder the polypropylene catalyst market growth. Also, the production of propylene is expected to be tighter in the coming years, as very few new projects are commissioned in the recent years, which might not be able to meet the increasing demand of the market. In 2015, the global polypropylene capacity was 72m tonnes per year.
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Asia-Pacific is anticipated to register the highest growth during the forecast period in the polypropylene catalyst market, which is mainly derived by the increasing demand from end-user industries which includes automotive, chemical, packaging, optical, and others. Also, the region is attracting foreign investors, owing to the benefits it offers such as low labor cost, easy availability of raw material, rising urban population, and others.
To enhance the market share in the polypropylene catalyst industry, the companies are adopting various strategies such as acquisitions, expansion, supply contracts, and many others. W.R. Grace & Co., Lyondellbasell Industries, Clariant, Lotte Mitsui Chemicals, Japan Polypropylene Corporation, Toho Titanium, INEOS AG, Sumitomo Chemicals, and Süd-Chemie are some of the key players catalyst for the polypropylene production.
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