ポリプロピレンコンパウンドの世界市場 - 産業動向と予測（～2030年）

世界のポリプロピレンコンパウンドの市場規模は、2022年の231億3,641万6,580米ドルから2030年までに328億5,264万4,350米ドルに達し、2023年～2030年の予測期間にCAGRで4.6%の成長が予測されています。

当レポートでは、世界のポリプロピレンコンパウンド市場について調査分析し、産業動向と予測、セグメント分析、企業プロファイルなどを提供しています。

目次

第1章 イントロダクション

第2章 市場セグメンテーション

第3章 エグゼクティブサマリー

第4章 重要考察

• PESTLE分析
• ポーターのファイブフォース分析
• 輸出入シナリオ
• 推定生産消費の分析
• ベンダーの選択基準
• 気候変動シナリオ
  • 環境への懸念
  • 産業の対応
  • 政府の役割
  • アナリストの推奨事項
• 価格分析
• 原材料の範囲
  • プロピレン
  • 添加剤
  • 充填剤
  • 潤滑剤
  • 難燃剤
  • 帯電防止剤
• 世界のポリプロピレンコンパウンド市場のサプライチェーン
  • 概要：
  • ロジスティクスコストシナリオ
  • ロジスティクスサービスプロバイダーの重要性
• メーカーによる技術の進歩

第5章 規制の範囲

第6章 市場の概要

• 促進要因
  • 最終用途産業からの需要の増大
  • 材料技術の進歩
  • 従来の材料の代替品としての台頭
• 抑制要因
  • 原材料価格の変動性
  • 環境への懸念と規制
• 機会
  • 環境に優しく持続可能な材料に対する需要の高まり
  • 工業部門の拡大
• 課題
  • 競合の激しい材料市場
  • リサイクルの課題

第7章 世界のポリプロピレンコンパウンド市場：地域別

• 概要
• 北米
• 欧州
• アジア太平洋
• 南米
• 中東・アフリカ

第8章 世界のポリプロピレンコンパウンド市場：企業情勢

• 企業シェア分析：世界
• 企業シェア分析：北米
• 企業シェア分析：アジア太平洋
• 企業シェア分析：欧州
• 製品の発売
• 投資
• 賞
• 拡大
• 新しい施設
• 提携
• 買収

第9章 SWOT分析

第10章 企業プロファイル

• LYONDELLBASELL INDUSTRIES HOLDINGS B.V.
• SABIC
• BOREALIS AG
• TOTALENERGIES
• EXXON MOBIL CORPORATION
• AVIENT CORPORATION
• BASF SE
• BRASKEM
• CELANESE CORPORATION
• CHINA PETROCHEMICAL CORPORATION (SINOPEC)
• FORMOSA PLASTICS GROUP
• GS GLOBAL CORP
• INEOS
• LG CHEM
• MITSUI CHEMICALS, INC.
• RELIANCE INDUSTRIES LIMITED
• REPSOL
• SASOL
• SCG CHEMICALS PUBLIC COMPANY LIMITED
• TRINSEO

第11章 アンケート

第12章 関連レポート

LIST OF TABLES

• TABLE 1 REGULATORY COVERAGE 53

LIST OF FIGURES

• FIGURE 1 GLOBAL POLYPROPYLENE COMPOUNDS MARKET 20
• FIGURE 2 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: DATA TRIANGULATION 23
• FIGURE 3 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: DROC ANALYSIS 24
• FIGURE 4 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: GLOBAL VS REGIONAL MARKET ANALYSIS 25
• FIGURE 5 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: COMPANY RESEARCH ANALYSIS 25
• FIGURE 6 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: THE PRODUCT LIFELINE CURVE 26
• FIGURE 7 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: MULTIVARIATE MODELLING 27
• FIGURE 8 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: INTERVIEW DEMOGRAPHICS 28
• FIGURE 9 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: DBMR MARKET POSITION GRID 29
• FIGURE 10 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: MARKET APPLICATION COVERAGE GRID 30
• FIGURE 11 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: THE MARKET CHALLENGE MATRIX 31
• FIGURE 12 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: VENDOR SHARE ANALYSIS 32
• FIGURE 13 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: SEGMENTATION 36
• FIGURE 14 ASIA-PACIFIC IS EXPECTED TO DOMINATE THE GLOBAL POLYPROPYLENE COMPOUNDS MARKET, WHILE NORTH AMERICA IS EXPECTED TO GROW WITH THE HIGHEST CAGR IN THE FORECAST PERIOD 37
• FIGURE 15 GROWING DEMAND FROM END-USE INDUSTRIES IS EXPECTED TO DRIVE THE GLOBAL POLYPROPYLENE COMPOUNDS MARKET IN THE FORECAST PERIOD 38
• FIGURE 16 THE MINERAL FILLED POLYPROPYLENE IS EXPECTED TO ACCOUNT FOR THE LARGEST SHARE OF THE GLOBAL POLYPROPYLENE COMPOUNDS MARKET IN 2023 AND 2030 38
• FIGURE 17 MIDDLE EAST AND AFRICA IS THE FASTEST-GROWING MARKET FOR POLYPROPYLENE COMPOUNDS MARKET MANUFACTURERS IN THE FORECAST PERIOD 39
• FIGURE 18 IMPORT-EXPORT SCENARIO (USD THOUSAND) 44
• FIGURE 19 VENDOR SELECTION CRITERIA 46
• FIGURE 20 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES OF THE GLOBAL POLYPROPYLENE COMPOUNDS MARKET 55
• FIGURE 21 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: BY SNAPSHOT (2022) 62
• FIGURE 22 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: BY REGION (2022) 63
• FIGURE 23 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: BY REGION (2023 & 2030) 63
• FIGURE 24 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: BY REGION (2022 & 2030) 64
• FIGURE 25 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: BY PRODUCT (2023 - 2030) 64
• FIGURE 26 NORTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY SNAPSHOT (2022) 65
• FIGURE 27 NORTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022) 66
• FIGURE 28 NORTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2023 & 2030) 66
• FIGURE 29 NORTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022 & 2030) 67
• FIGURE 30 NORTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY PRODUCT (2023 - 2030) 67
• FIGURE 31 EUROPE POLYPROPYLENE COMPOUNDS MARKET: BY SNAPSHOT (2022) 68
• FIGURE 32 EUROPE POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022) 69
• FIGURE 33 EUROPE POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2023 & 2030) 69
• FIGURE 34 EUROPE POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022 & 2030) 70
• FIGURE 35 EUROPE POLYPROPYLENE COMPOUNDS MARKET: BY PRODUCT (2023 - 2030) 71
• FIGURE 36 ASIA-PACIFIC POLYPROPYLENE COMPOUNDS MARKET: BY SNAPSHOT (2022) 72
• FIGURE 37 ASIA-PACIFIC POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022) 73
• FIGURE 38 ASIA-PACIFIC POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2023 & 2030) 73
• FIGURE 39 ASIA-PACIFIC POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022 & 2030) 74
• FIGURE 40 EUROPE POLYPROPYLENE COMPOUNDS MARKET: BY PRODUCT (2023 - 2030) 74
• FIGURE 41 SOUTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY SNAPSHOT (2022) 75
• FIGURE 42 SOUTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022) 76
• FIGURE 43 SOUTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2023 & 2030) 76
• FIGURE 44 SOUTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022 & 2030) 77
• FIGURE 45 SOUTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: BY PRODUCT (2023 - 2030) 77
• FIGURE 46 MIDDLE EAST AND AFRICA POLYPROPYLENE COMPOUNDS MARKET: BY SNAPSHOT (2022) 78
• FIGURE 47 MIDDLE EAST AND AFRICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022) 79
• FIGURE 48 MIDDLE EAST AND AFRICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2023 & 2030) 79
• FIGURE 49 MIDDLE EASE AND AFRICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2022 & 2030) 80
• FIGURE 50 MIDDLE EAST AND AFRICA POLYPROPYLENE COMPOUNDS MARKET: BY COUNTRY (2023 - 2030) 80
• FIGURE 51 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: COMPANY SHARE 2022 (%) 81
• FIGURE 52 NORTH AMERICA POLYPROPYLENE COMPOUNDS MARKET: COMPANY SHARE 2022 (%) 82
• FIGURE 53 ASIA-PACIFIC POLYPROPYLENE COMPOUNDS MARKET: COMPANY SHARE 2022 (%) 83
• FIGURE 54 EUROPE POLYPROPYLENE COMPOUNDS MARKET: COMPANY SHARE 2022 (%) 84

Global polypropylene compounds market is expected to reach USD 32,852,644.35 thousand by 2030 from USD 23,136,416.58 thousand in 2022, growing at a CAGR of 4.6% in the forecast period of 2023 to 2030

Market Segmentation:

Global Polypropylene Compounds Market, By Product (Mineral Filled Polypropylene, Compound TPOs/TPVs, Additive Concentrates, Glass Reinforced, and Others), Polymer Type (Homopolymers and Copolymers), Application (Fiber, Film & Sheet, Raffia, and Others), End-User (Automotive, Packaging, Building and Construction, Electrical and Electronics, Consumer Goods, Medical, Textile, and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, France, U.K., Spain, Russia, Turkey, Belgium, Netherlands, Sweden, Switzerland, Denmark, Norway, Finland, Rest of Europe, China, India, Japan, South Korea, Indonesia, Thailand, Malaysia, Philippines, Taiwan, Singapore, Australia, New Zealand, Hong Kong, Rest of Asia-Pacific, Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, Kuwait, Oman, Qatar, Bahrain, and Rest of Middle East and Africa) - Industry Trends and Forecast to 2030.

Overview of Global Polypropylene Compounds Market Dynamics:

• Drivers
• Growing demand from automotive industry.
• Increasing usage in consumer goods.
• Packaging industry expansion
• Restraints
• Fluctuation in the prices
• Competition from alternate materials.
• Opportunities
• Rise in demand from construction sector.
• Increase in partnerships for the growth of the construction sector in emerging countries

Market Players:

Some of the key players operating in the global polypropylene compounds market are:

• Mitsui Chemicals, Inc.
• Exxon Mobil Corporation
• SABIC
• Borealis AG
• Braskem
• China Petrochemical Corporation (SINOPEC)
• Celanese Corporation

TABLE OF CONTENTS

1 INTRODUCTION 13

• 1.1 OBJECTIVES OF THE STUDY 13
• 1.2 MARKET DEFINITION 13
• 1.3 OVERVIEW 13
• 1.4 LIMITATIONS 15
• 1.5 MARKETS COVERED 15

2 MARKET SEGMENTATION 20

• 2.1 MARKETS COVERED 20
• 2.2 GEOGRAPHICAL SCOPE 21
• 2.3 YEARS CONSIDERED FOR THE STUDY 22
• 2.4 CURRENCY AND PRICING 22
• 2.5 DBMR TRIPOD DATA VALIDATION MODEL 23
• 2.6 PRODUCT LIFELINE CURVE 26
• 2.7 MULTIVARIATE MODELING 27
• 2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 28
• 2.9 DBMR MARKET POSITION GRID 29
• 2.10 MARKET APPLICATION COVERAGE GRID 30
• 2.11 DBMR MARKET CHALLENGE MATRIX 31
• 2.12 DBMR VENDOR SHARE ANALYSIS 32
• 2.13 SECONDARY SOURCES 33
• 2.14 ASSUMPTIONS 34

3 EXECUTIVE SUMMARY 35

4 PREMIUM INSIGHTS 38

• 4.1 PESTLE ANALYSIS 40
  • 4.1.1 POLITICAL FACTORS 40
  • 4.1.2 ECONOMIC FACTORS 41
  • 4.1.3 SOCIAL FACTORS 41
  • 4.1.4 TECHNOLOGICAL FACTORS 41
  • 4.1.5 LEGAL FACTORS 41
  • 4.1.6 ENVIRONMENTAL FACTORS 41
• 4.2 PORTER'S FIVE FORCES: 42
  • 4.2.1 THREAT OF NEW ENTRANTS: 42
  • 4.2.2 THE THREAT OF SUBSTITUTES: 42
  • 4.2.3 CUSTOMER BARGAINING POWER: 42
  • 4.2.4 SUPPLIER BARGAINING POWER: 43
  • 4.2.5 INTERNAL COMPETITION (RIVALRY): 43
• 4.3 IMPORT-EXPORT SCENARIO 44
• 4.4 ESTIMATED PRODUCTION CONSUMPTION ANALYSIS 45
• 4.5 VENDOR SELECTION CRITERIA 46
• 4.6 CLIMATE CHANGE SCENARIO 48
  • 4.6.1 ENVIRONMENTAL CONCERNS 48
  • 4.6.2 INDUSTRY RESPONSE 48
  • 4.6.3 GOVERNMENT'S ROLE 48
  • 4.6.4 ANALYST RECOMMENDATION 48
• 4.7 PRICING ANALYSIS 49
• 4.8 RAW MATERIAL COVERAGE 50
  • 4.8.1 PROPYLENE 50
  • 4.8.2 ADDITIVES 50
  • 4.8.3 FILLERS 50
  • 4.8.4 LUBRICANTS 50
  • 4.8.5 FLAME RETARDANTS 50
  • 4.8.6 ANTISTATIC AGENTS 50
• 4.9 SUPPLY CHAIN OF THE GLOBAL POLYPROPYLENE COMPOUNDS MARKET 51
  • 4.9.1 OVERVIEW: 51
  • 4.9.2 LOGISTIC COST SCENARIO 51
  • 4.9.3 IMPORTANCE OF LOGISTICS SERVICE PROVIDERS: 51
• 4.10 TECHNOLOGICAL ADVANCEMENT BY MANUFACTURERS 52

5 REGULATION COVERAGE 53

6 MARKET OVERVIEW 54

• 6.1 DRIVERS 56
  • 6.1.1 GROWING DEMAND FROM END-USE INDUSTRIES 56
  • 6.1.2 ADVANCEMENTS IN MATERIAL TECHNOLOGY 57
  • 6.1.3 RISING AS SUBSTITUTES FOR TRADITIONAL MATERIALS 57
• 6.2 RESTRAINTS 58
  • 6.2.1 VOLATILITY IN RAW MATERIAL PRICES 58
  • 6.2.2 ENVIRONMENTAL CONCERNS AND REGULATIONS 58
• 6.3 OPPORTUNITIES 59
  • 6.3.1 RISING DEMAND FOR ECO-FRIENDLY AND SUSTAINABLE MATERIALS 59
  • 6.3.2 EXPANDING INDUSTRIAL SECTORS 59
• 6.4 CHALLENGES 60
  • 6.4.1 COMPETITIVE MATERIAL MARKET 60
  • 6.4.2 RECYCLING CHALLENGES 61

7 GLOBAL POLYPROPYLENE COMPOUNDS MARKET BY GEOGRAPHY 62

• 7.1 OVERVIEW 62
• 7.2 NORTH AMERICA 65
• 7.3 EUROPE 68
• 7.4 ASIA-PACIFIC 72
• 7.5 SOUTH AMERICA 75
• 7.6 MIDDLE EAST & AFRICA 78

8 GLOBAL POLYPROPYLENE COMPOUNDS MARKET: COMPANY LANDSCAPE 81

• 8.1 COMPANY SHARE ANALYSIS: GLOBAL 81
• 8.2 COMPANY SHARE ANALYSIS: NORTH AMERICA 82
• 8.3 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 83
• 8.4 COMPANY SHARE ANALYSIS: EUROPE 84
• 8.5 PRODUCT LAUNCH 85
• 8.6 INVESTMENT 86
• 8.7 AWARD 86
• 8.8 EXPANSION 87
• 8.9 NEW FACILITY 87
• 8.10 COLLABORATION 88
• 8.11 ACQUISITION 88

9 SWOT ANALYSIS 89

10 COMPANY PROFILES 90

• 10.1 LYONDELLBASELL INDUSTRIES HOLDINGS B.V. 90
  • 10.1.1 COMPANY SNAPSHOT 90
  • 10.1.2 REVENUE ANALYSIS 90
  • 10.1.3 COPANY SHARE ANALYSIS 91
  • 10.1.4 PRODUCT PORTFOLIO 91
  • 10.1.5 RECENT DEVELOPMENT 93
• 10.2 SABIC 94
  • 10.2.1 COMPANY SNAPSHOT 94
  • 10.2.2 REVENUE ANALYSIS 94
  • 10.2.3 COPANY SHARE ANALYSIS 95
  • 10.2.4 PRODUCT PORTFOLIO 95
  • 10.2.5 RECENT DEVELOPMENT 95
• 10.3 BOREALIS AG 97
  • 10.3.1 COMPANY SNAPSHOT 97
  • 10.3.2 REVENUE ANALYSIS 97
  • 10.3.3 COPANY SHARE ANALYSIS 98
  • 10.3.4 PRODUCT PORTFOLIO 98
  • 10.3.5 RECENT DEVELOPMENT 100
• 10.4 TOTALENERGIES 101
  • 10.4.1 COMPANY SNAPSHOT 101
  • 10.4.2 REVENUE ANALYSIS 101
  • 10.4.3 COPANY SHARE ANALYSIS 102
  • 10.4.4 PRODUCT PORTFOLIO 102
  • 10.4.5 RECENT DEVELOPMENT 103
• 10.5 EXXON MOBIL CORPORATION 105
  • 10.5.1 COMPANY SNAPSHOT 105
  • 10.5.2 REVENUE ANALYSIS 105
  • 10.5.3 COPANY SHARE ANALYSIS 106
  • 10.5.4 PRODUCT PORTFOLIO 106
  • 10.5.5 RECENT DEVELOPMENT 106
• 10.6 AVIENT CORPORATION 108
  • 10.6.1 COMPANY SNAPSHOT 108
  • 10.6.2 REVENUE ANALYSIS 108
  • 10.6.3 PRODUCT PORTFOLIO 109
  • 10.6.4 RECENT DEVELOPMENT 109
• 10.7 BASF SE 110
  • 10.7.1 COMPANY SNAPSHOT 110
  • 10.7.2 REVENUE ANALYSIS 110
  • 10.7.3 PRODUCT PORTFOLIO 111
  • 10.7.4 RECENT DEVELOPMENT 111
• 10.8 BRASKEM 112
  • 10.8.1 COMPANY SNAPSHOT 112
  • 10.8.2 REVENUE ANALYSIS 112
  • 10.8.3 PRODUCT PORTFOLIO 113
  • 10.8.4 RECENT DEVELOPMENT 114
• 10.9 CELANESE CORPORATION 116
  • 10.9.1 COMPANY SNAPSHOT 116
  • 10.9.2 REVENUE ANALYSIS 116
  • 10.9.3 PRODUCT PORTFOLIO 117
  • 10.9.4 RECENT DEVELOPMENT 118
• 10.10 CHINA PETROCHEMICAL CORPORATION (SINOPEC) 119
  • 10.10.1 COMPANY SNAPSHOT 119
  • 10.10.2 REVENUE ANALYSIS 120
  • 10.10.3 PRODUCT PORTFOLIO 120
  • 10.10.4 RECENT DEVELOPMENT 120
• 10.11 FORMOSA PLASTICS GROUP 121
  • 10.11.1 COMPANY SNAPSHOT 121
  • 10.11.2 REVENUE ANALYSIS 121
  • 10.11.3 PRODUCT PORTFOLIO 122
  • 10.11.4 RECENT DEVELOPMENT 122
• 10.12 GS GLOBAL CORP 123
  • 10.12.1 COMPANY SNAPSHOT 123
  • 10.12.2 REVENUE ANALYSIS 123
  • 10.12.3 PRODUCT PORTFOLIO 124
  • 10.12.4 RECENT DEVELOPMENT 124
• 10.13 INEOS 125
  • 10.13.1 COMPANY SNAPSHOT 125
  • 10.13.2 REVENUE ANALYSIS 125
  • 10.13.3 PRODUCT PORTFOLIO 126
  • 10.13.4 RECENT DEVELOPMENT 126
• 10.14 LG CHEM 127
  • 10.14.1 COMPANY SNAPSHOT 127
  • 10.14.2 REVENUE ANALYSIS 127
  • 10.14.3 PRODUCT PORTFOLIO 128
  • 10.14.4 RECENT DEVELOPMENT 128
• 10.15 MITSUI CHEMICALS, INC. 129
  • 10.15.1 COMPANY SNAPSHOT 129
  • 10.15.2 REVENUE ANALYSIS 130
  • 10.15.3 PRODUCT PORTFOLIO 130
  • 10.15.4 RECENT DEVELOPMENTS 131
• 10.16 RELIANCE INDUSTRIES LIMITED 132
  • 10.16.1 COMPANY SNAPSHOT 132
  • 10.16.2 REVENUE ANALYSIS 132
  • 10.16.3 PRODUCT PORTFOLIO 133
  • 10.16.4 RECENT DEVELOPMENT 134
• 10.17 REPSOL 135
  • 10.17.1 COMPANY SNAPSHOT 135
  • 10.17.2 REVENUE ANALYSIS 135
  • 10.17.3 PRODUCT PORTFOLIO 136
  • 10.17.4 RECENT DEVELOPMENT 138
• 10.18 SASOL 139
  • 10.18.1 COMPANY SNAPSHOT 139
  • 10.18.2 REVENUE ANALYSIS 139
  • 10.18.3 PRODUCT PORTFOLIO 140
  • 10.18.4 RECENT DEVELOPMENT 140
• 10.19 SCG CHEMICALS PUBLIC COMPANY LIMITED 141
  • 10.19.1 COMPANY SNAPSHOT 141
  • 10.19.2 REVENUE ANALYSIS 141
  • 10.19.3 PRODUCT PORTFOLIO 142
  • 10.19.4 RECENT DEVELOPMENT 143
• 10.20 TRINSEO 144
  • 10.20.1 COMPANY SNAPSHOT 144
  • 10.20.2 REVENUE ANALYSIS 144
  • 10.20.3 PRODUCT PORTFOLIO 145
  • 10.20.4 RECENT DEVELOPMENT 145

11 QUESTIONNAIRE 146

12 RELATED REPORTS 149