Seoul, South Korea, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, states that the global chlorinated polypropylene market is estimated at US$ 388 million in 2022 and is expected to expand at a high CAGR of 8.1% throughout the forecast period of 2022-2032. Demand growth is mainly seen in end-use markets such as paints, inks, automobiles, etc.
Polypropylene offers a great combination of properties and is considered a versatile material for application in various industries. Polypropylene (PP) is a resin that is widely used for films, molded products, and other useful items. However, due to its low polarity and high crystallinity, it is difficult to bind. A better way to solve this problem is to use Chlorinated Polypropylene (CPP).
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Key chlorinated polypropylene manufacturers have observed an upward trend in pricing and demand while serving the current market consumption. CPP is used in giving adhesion to inks, paints, coatings, and adhesives used in various applications. Out of all the end uses, it is mainly used in printing and plastic inks. Growing demand from various segments such as pains, printing inks, etc., for a glossier look and durability is set to drive the market for chlorinated polypropylene over the coming years.
How is the Growing Paints & Coatings Industry Driving Demand for CPP?
Architectural and decorative coatings are paints that majorly use chlorinated polypropylene in the construction industry. Rapid growth in infrastructure in developing countries is driving the demand for raw materials such as chlorinated polypropylene in the paint industry. CPP is majorly used to enhance the durability and finishing of paints and coatings.
Increase in construction and infrastructure activities in Asia Pacific is one of the main reasons why the chlorinated polypropylene market is growing. Developing countries such as India still present scope for a lot of development in infrastructure for providing support to industries to stimulate economic growth and improve the quality of life of residents.
Consumption of paints & coatings in industrial and decorative applications is expected to witness robust growth during the forecast period. A significant share of overall chlorinated polypropylene consumption is held by the paints and coatings industry. Anticipated steady growth in the consumption of paints and coatings is expected to drive the need for chlorinated polypropylene over the coming years.
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Key Segments Covered in the Chlorinated Polypropylene Industry Survey
- By Form :
- Liquid Chlorinated Polypropylene
- Water-borne
- Solvent-borne
- Powder/Solid Chlorinated Polypropylene
- Liquid Chlorinated Polypropylene
- By Function :
- Primers
- Adhesives
- Primers
- By Application :
- Paint & Coating Production
- Ink Production
- Gravure Inks
- General Inks
- Special Purpose Adhesive Production
- Construction
- Automotive
- Interiors
- Exteriors
- Others
- Paint & Coating Production
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- North America
Competitive Landscape
Companies manufacturing chlorinated polypropylene continue to grow at a steady pace. Manufacturers are deploying strategies such as mergers and acquisitions, developing new products, etc., to remain active and keep their financials growing.
Also, market players are looking to expand their geographical reach to emerging markets with growing demand. They are also focusing on developing solutions that adhere to government policies and are environment-friendly.
Prominent chlorinated polypropylene manufacturers are Anhui Elite Industrial Co. Ltd, Eastman Chemical Company, Nippon Paper Group, Golden Success Chemical Co., Ltd, Haihang Industry Co. Ltd, iSuoChem, N Shashikant & Co., and Sundow Polymer Co. Ltd.
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Key players in the Chlorinated Polypropylene Market
- Anhui Elite Industrial Co. Ltd
- Eastman Chemical Company
- Nippon Paper Group
- Golden Success Chemical Co., Ltd
- Haihang Industry Co. Ltd
- iSuoChem
- N Shashikant & Co.,
- Sundow Polymer Co., Ltd
Key Takeaways from Chlorinated Polypropylene Market Study
- The global chlorinated polypropylene market is expected to expand at a CAGR of 8.1% and be valued at US$ 844.3 million by 2032.
- The market witnessed 4% CAGR from 2017 to 2021.
- Under end use, demand from the paints and coatings segment is the highest and valued at US$ 102.3 million in 2022.
- North America led the global market with 27.1% share at the end of 2021.
- Liquid chlorinated propylene accounts for 68.8% market share in 2022.
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