Ceresana reports global PP market to reach $145 billion in 2019
Packaging most important market sector
Polypropylene (PP) can be found in a wide range of toiletries and cosmetics and is becoming increasingly important in the plastics extrusion blow-moulded category, to which the research firm says is now in particular demand in emerging markets.
‘The average annual growth rate of 4.4 percent in the last eight years is likely to be surpassed in the future." the report states.
Furthermore the market researcher notes that major consumers of PP are producers of flexible and rigid packaging, who accounted for an aggregated demand of more than 50 percent in 2011
Asia-Pacific on the rise
According to the Ceresana, Asia-Pacific countries already account for more than half of worldwide PP consumption. Thus, this region is the most important sales market, followed by Western Europe and North America. Yet distribution of demand for PP in the various regions of the world is likely to change markedly.
The analysts further expect countries in Asia-Pacific to increase their shares in the global PP market – mainly at the expense of saturated markets in industrialized countries.
Other reported sectors for growth
Another recent report from Ceresana Research noted that it also expects the global surfactant market to generate revenues of more than $41bn in 2018; translating to an average annual growth of 4.5 percent, with demand from the cosmetics market expected to be one of the main drivers.
Surfactants are used in many industrial applications, such as agrochemicals, photo chemicals, oil field chemicals, construction materials, foodstuffs, and adhesives, with body care products and cosmetics holding a 9.5 percent market share.
Again, Asia-Pacific was reported as being the largest surfactant outlet, with approximately a 37 percent share of global consumption, followed by North America and Western Europe.
Speaking of Asia...
Cosmetics Design is also targeting the rising demand in Asia-Pacific with the launch of a new site focused on the breaking news in the region.
CosmeticsDesign-Asia.com will be launched on September 4 2012 and will cover all the formulation, packaging and business news in the region.
The output of the new site will also focus on the key areas in the region such as market entry, regulation, animal testing, beauty from within, amongst others.
