Global Propylene Market By Derivatives (Polypropylene, Propylene oxide, Cumene, Acrylonitrile, Acrylic acid & Acrylates, Alcohols, Others), Industrial Vertical (Automotive, Construction, Packaging, Textile, Others), Types (Purity 99%, Purity 99.5%, Others), Application (Organic Chemical Raw Materials, Synthetic Resins, Fine Chemicals, Other), Production Process Technology (Steam Cracking, Refinery, On- Purpose), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Propylene Market
Global propylene market is set to witness a steady CAGR of 4.15% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand of propylene from construction industry and rising prevalence for polyurethane is the major factor for the growth of this market.
Market Definition: Global Propylene Market
Propylene or propene is a colorless and flammable gas which is derived by cracking petroleum hydrocarbons. They are usually the byproduct of natural gas processing and oil refining. Cumene, alcohols, acrylic & acrylates, propylene oxide are some of the derivatives of the propylene. They are often used as fuel. They are usually converted into liquid by increasing the pressure so that they can be stored easily. Propylene is widely used in industries such as construction, packaging, textile, automotive and others.
- Increasing demand for commercial vehicles will drive the market
- Rising preference for sustainable products is also driving the market growth
- Growing demand for propylene in packaging industry will also act as a driver for this market
- Increasing demand for polyurethane worldwide is also contributing as a factor for the growth of this market
- Volatility in the price of raw material will restrain the market growth
- Increasing environmental concern associated with the production of propylene will also hamper market
Global Propylene Market Segmentation:
- Propylene oxide
- Acrylic acid & Acrylates
- Oxo- Alcohols
- Isopropyl Alcohols
- Isobutyl Benzene
- EPDM Rubbers
By Industrial Vertical
- Purity 99%
- Purity 99.5%
- Organic Chemical Raw Materials
- Synthetic Resins
- Fine Chemicals
By Production Process Technology
- Steam Cracking
- On- Purpose
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In January 2019, Tamil Nadu Petro Products announced that they have started the production of an industrial intermediate chemical Propylene Oxide. This new production is specially started to serve domestic market and is set up by the ECH manufacturing plant which was closed in 2013.
- In December 2015, The Dow Chemical Company announced that they have started the operations at its new propylene production facility in Freeport. This new site has the ability to produce 750 kilotons of propylene annually. This new launch will help the company to strengthen their position in their market and will also improve their structural feedstock hedge.
Global propylene market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of propylene market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global propylene market are Dow, BASF SE, Sumitomo Chemical Co., Ltd., Exxon Mobil Corporation., INEOS, LyondellBasell Industries Holdings B.V., SABIC, Asahi Kasei Corporation, China Petrochemical Corporation, Chevron Phillips Chemical Company, Manali Petrochemical, AGC Chemicals, Royal Dutch Shell, Oleon NV, Repsol, Linde, Honeywell International Inc, Huntsman International LLC., Archer Daniels Midland Company, Solventis and others.
Research Methodology: Global Propylene Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved