18 April 2013 06:07 [Source: ICIS news]
SINGAPORE (ICIS)--China's consumption of polyethylene (PE) and polypropylene (PP) is expected to grow at an overall compounded annual growth rate (CAGR) of 6.8% and 7.5% respectively during 2012-2017, an industry consultant said on Thursday.
The country's consumption of high density polyethylene (HDPE) is expected to grow to 12.5m tonnes/year in 2017, up from 9.2m tonnes/year in 2012, and will register the highest CAGR among all polyolefin products, according to Pearl Ma, a consultant at China National Chemical Information Centre's polymer business unit.
HDPE consumption is projected to expand at a CAGR of 6.4% in 2012-2017, according to Ma.
Domestic consumption of linear low density polethylene (LLDPE) will grow to 9.7m tonnes/year in 2017, from 6.2m tonnes/year in 2012, driven by its "low price, good impact resistance and high tensile strength" properties which has made it more popular than low density polyethylene (LDPE), Ma said.
LLDPE consumption is projected to rise at a CAGR of 9.2% in 2012-2017, she said.
China's consumption of LDPE will grow to 4.3m tonnes/year in 2017, up from 3.7m tonnes/year, with a CAGR of 3.2% during the 2012-2017 period, according to Ma.
Meanwhile, consumption of PP will grow to 22.7m tonnes/year in 2017, up from 15.8m tonnes/year in 2012, she said.
PP consumption will register a CAGR of 7.5% in 2012-2017, compared with a CAGR of 9.2% in 2007-2012, according to Ma.
Ma was speaking at the day-long China Petrochemical Industry Conference in Singapore.
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