Business intelligence provider GBI Research predicts polypropylene consumption in the global packaging industry will increase from 12.8 million tons in 2011 to around 20.1m tons in 2020.
The New York-based analyst says the increase will be fuelled by rising demand for food packaging and flexible packaging.
In its report ‘Polypropylene Global Market to 2020’, published in June 2013, GBI Research forecasts global polypropylene consumption overall will rise from 42.3m tons in 2011 to 62.4m tons by 2020.
Growth will be driven by developing regions of Asia-Pacific and Middle East and Africa, and achieve a “healthy compound annual growth rate (CAGR) of 4.5%”, the company says.
The packaging industry will account for almost a third of the total market for PP by 2020.
“The polypropylene market will see demand rise as a result of economic growth, improving lifestyles and developing industrialisation,” the company claims in the report summary.
“During the forecast period, polypropylene demand in North America is expected to recover from the negative market growth observed in 2010-2011, while the Eurozone crisis is expected to restrict the future growth of the European market.”
