Japanese demand for PP seen rising 3.9% in '97

Dec 26, 1996 01:00 AM

Japanese demand for polypropylene in 1997 is expected to rise 3.9% year-on-year to 2,567,000 tons, setting a record for the fourth straight year. The robust projection is attributed to brisk demand for automobiles, consumer electronics and other such items ahead of the consumption tax increase of 3% to 5% in April. Demand for PP for the January-March quarter of 1997 is likely to jump some 15% from a year earlier. In contrast, exports for the year as a whole are seen declining 4.4% to 300,000 tons as annual production capacity in Southeast Asia will increase by 1.4 mmt during the year.
Demand for the key industrial material in Asia overall will continue expanding in the double-digit range, however, with China acting as the engine for growth. Chinese purchases of PP are likely to determine the pace of market growth for the year.

Source: not available
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