Sakir, the IHS CMAI Americas PP business manager, said that the growth rate of the PP market in various regions of the world is very different. Affected by the volatility of PP prices, demand for the PP market in North America is expected to decline by 0.5% this year, but it will increase by 2.4% in 2012. Some producers are more pessimistic about the prospects of North American PP market. According to Ineos, a major PP producer in North America, “This year North American PP market demand will decline by 3%-5%, mainly due to the economic downturn.†In other developed regions, including Western Europe, is also experiencing very low Demand growth.
Sakir said that demand in other parts of the world is relatively strong. The world's leading PP producer, Borealis, predicts that India will become the fastest growing country in global PP market demand from 2011 to 2012, followed by China, which will increase by 8.2%, while Africa expects demand to increase by 8.2%. Its base is smaller. Demand in the Commonwealth of Independent States, South America, and Southeast Asia will increase by 6.7%, 6.1%, and 4.6% respectively.
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