Propylene market was valued at USD 96.47 billion in 2021 and is expected to reach USD 135.21 billion by 2029, registering a CAGR of 4.31 % during the forecast period of 2022 to 2029.
Propylene Market study by Data Bridge Market Research provides details about the market dynamics affecting this market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years.
Propylene Market report provides top to bottom assessment of the market with respect to income and developing business sector. The report encompasses several market dynamics while also evaluating the growth rate and the market value based on market dynamics and growth inducing factors. The industry analysis report is mainly explored under four major areas which are market definition, market segmentation, competitive analysis and research methodology. Propylene Market business report also covers strategic profiling of the major players in the market, comprehensive analysis of their fundamental competencies, and thereby keeping competitive landscape of the market in front of the client.
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Market Definition
Propylene is an organic compound which is present in the form of gas and it has no colour. It is a hydrocarbon, flammable and is frequently used as fuel. Most of the propylene is extracted during the process of petroleum refining. Propylene molecular weight is 42.08 g/mol and its molecular formula C3H6 and its. Propylene is also called propene which has obtained from petroleum; large amount of propylene are used in the manufacture of elastomers, resins and fibres and many other chemical products.
Propylene Market Dynamics
Drivers
Rise the demand of their derivatives
Acrylonitrile is the derivative of propylene which is used in polymers and elastomeric fiber. Acrylonitrile are used in sweaters, socks and sportswear and home furnishings which contributes their maximum share in the market. Acrylonitrile also used in medical equipment such as valves, mechanical seals, and pumps due to the global coronavirus epidemic growing the demand for medical equipment which increase the demand of acrylonitrile as well increase the demand of propylene in the market.
Rise the demand in automobile sector
The demand of propylene is rapidly increase in the in the automobile industry which are expected to drive the growth of propylene market during the forecast period. Polypropylene is a polymer of propylene which is produced from the monomer of propylene and this monomer is used in the automobile industry. Due to the Large-scale production of automobiles increase the demand for polypropylene products which are used in the manufacturing of bumpers, interior trim, instrumental panels, battery cases and trays, fender liners, door trims, and other machineries.
Opportunities
Petrochemical companies are now adopting on-purpose propylene production technologies to increase the quantity of propylene as a sole product in the market but not as an alternate or co-product. On-purpose propylene technology is a modified version of the traditional fluid catalytic cracking unit which upsurges the propylene yield to 20% or more than this output. The traditional sources for propylene include oil refineries and steam crackers yield less propylene as a derivative. To meet the augmented demand for propylene the petrochemical companies are investing to grow on-purpose technologies to maintain the shortfall of propylene production. These factors will create the opportunities and boost the growth rate of the propylene market.
Propylene Market Scope
The propylene market is segmented on the basis of derivatives, types, production process technology, industrial vertical and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
Organic Chemical Raw Materials
Synthetic Resins
Fine Chemicals
Other
Propylene Market Regional Analysis/Insights
The propylene market is analysed and market size insights and trends are provided by country, derivatives, types, production process technology, industrial vertical and application as referenced above.
The countries covered in the propylene market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the propylene market in terms of revenue during the forecast period. This is due to the increasing demand for propylene in this region. The Asia-Pacific region leads the propylene market due to the high production and rapid pace of shale gas production in this region.
During the projected period, North America is anticipated to be the fastest developing region high production and consumption of propylene products in this region.
Highlights of TOC:
Chapter 1: Market overview
Chapter 2: Global Propylene Market
Chapter 3: Regional analysis of the Global Propylene Market industry
Chapter 4: Propylene Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
Key takeaways from the Propylene Market report:
Detailed considerate of Propylene Market-particular drivers, Trends, constraints, Restraints, Opportunities and major micro markets.
Comprehensive valuation of all prospects and threat in the
In depth study of industry strategies for growth of the Propylene Market-leading players.
Propylene Market latest innovations and major procedures.
Favorable dip inside Vigorous high-tech and market latest trends remarkable the Market.
Conclusive study about the growth conspiracy of Propylene Market for forthcoming years.
Some of the major players operating in the propylene market are:
Dow (US)
LyondellBasell Industries Holdings B.V. (Netherlands)
BASF SE (Germany)
ADM (US)
Global Bio-chem Technology Group Company Limited (China)
DuPont Tate & Lyle Bio Products (US)
SKC Inc (South Korea)
Temix Oleo (Italy)
INEOS Oxide (Switzerland)
Huntsman International L.l..C (U.S.)
ADEKA CORPORATION (Japan)
Chaoyang Chemicals, Inc. (U.S.)
Manali Petrochemicals Limited (India)
Haike Chemical Group Co., Ltd. (China)
Arch Chemicals Inc, (US)
Repsol (Spain)
Midland Company (US)
Helm AG (Germany)
Shell Plc (UK)
By Derivatives (Polypropylene, Propylene oxide, Cumene, Acrylonitrile, Acrylic acid and Acrylates, Alcohols, Others), Types (Purity 99%, Purity 99.5%, Others), Production Process Technology (Steam Cracking, Refinery, On- Purpose), Industrial Vertical (Automotive, Construction, Packaging, Textile, Others), Application (Organic Chemical Raw Materials, Synthetic Resins, Fine Chemicals, Other)
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