The polypropylene industry in the US has always been one of the largest and most in-demand sectors in the country’s prestigious plastic market. The US is currently one of the world’s top polypropylene producers and the 4th biggest exporter of polypropylene (PP) plastic products in the global market. Polypropylene manufacturers in the US are using innovative technologies and the export market to dominate today’s integrated global supply chain. The US already exports 8% of the world’s polypropylene plastic and polypropylene products; that number is expected to increase significantly in the near future.
Polypropylene (PP) is a thermoplastic linear hydrocarbon polymer resin. It is a semi rigid and translucent material that does not present stress-cracking problems and offers excellent chemical and electrical resistance at high temperatures. Polypropylene is a versatile product, and for that reason it is used in numerous industries such as packaging, toy making, automobiles, carpeting, paper, and manufacturing of laboratory equipment. It is easy to customize and can be coloured in various ways without degrading the original quality of the plastic.
Grow Your Business Network: Connect with the Top Polypropylene Manufacturers in the USA
Global Polypropylene Industry Overview
According to the latest report from Transparency Market Research, the market size for the global polypropylene industry was valued at US $81.6 billion in 2014, and this figure is expected to reach US $133.3 billion by 2023, rising at a healthy CAGR of 5.7% during the forecast period. The increasing demand for polypropylene from end user industries such as packaging, construction, and, most notably, the automotive industry, is the main factor driving the growth of the global polypropylene market.
At present, the packing segment accounted for around 48.6% of the global polypropylene market, and is expected to remain the key driving factor for the polypropylene industry. This is due to rising demand from the food and beverage and personal care industries on account of changing lifestyles in emerging economies. On the other hand, automotive is likely to be the second-most attractive segment of the global polypropylene industry, thanks to the increasing demand for lightweight vehicles and reduction in carbon emissions.
The US’ Polypropylene Industry Continues to Grow
As one of the world’s largest markets for packaging and automotive, the US shows great potential to grow its polypropylene market. According to a recent report from the US International Trade Commission, from January to April this year, the US exported 143,324 metric tonnes of polypropylene to the global market, representing a 15% increase over the same period last year. It is expected that the polypropylene industry in the US will exhibit further growth, as a major capacity addition in the US Gulf Coast is likely to increase supply and lead to more exports in the second of half of 2017.
The potential of the US polypropylene industry has attracted a significant number of buyers and traders from all over the world. To help your plastic business remain at the top of the industry, BizVibe provides the best solutions to source products and make business deals with the top polypropylene manufacturers in the USA. Don’t miss your chance to connect with the best industry suppliers, manufacturers, and companies on BizVibe.
Related to the US’ Polypropylene Industry:
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Top company: The Plastics Exchange. LLC.
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