“Global Propylene Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global propylene market report has been segmented on the basis of derivative, industry vertical, and region.
Global Propylene Market: Introduction
Propylene or propene is a byproduct of natural gas processing and oil refining. Propylene is used in the manufacture of polypropylene, acrylonitrile, cumene, propylene oxide, isopropyl alcohol, and oxo-alcohols. These derivatives of propylene are used in various industries verticals such as construction, automotive, packaging, and textiles.
Global Propylene Market: Dynamics
Growing demand for propylene in industry verticals such as automotive, construction, and packaging industry is a major factor expected to drive the growth of the global potential market. Rising demand for automobiles in developing countries owing to increasing spending power of people is expected to boost the revenue growth of the target market. Growing demand for propylene in the packaging industry for various applications is another factor anticipated to support revenue growth of the potential market over the forecast period.
However, fluctuating raw material prices of propylene is expected to hamper the growth of the target market over the next 10 years.
Global Propylene Market: Derivative Analysis
Among the derivative, the polypropylene segment is projected to grow at a higher growth rate over the next few years. Growing demand for polypropylene in packaging and construction application is expected to support revenue growth of the segment over the next ten years.
Global Propylene Market: Segment Analysis
Among the industry verticals segments, the packaging segment is expected to contribute major revenue share in the global market. Increasing demand for polypropylene in the packaging industry for application such as food packaging, bottles, and others in developing economies is a major factor anticipated to drive revenue growth of the segment. Construction segment is expected to grow at a higher growth rate over the next 10 years. The rising number of construction activities in across globe is expected to support revenue growth of the segment.
Global Propylene Market: Regional Analysis
Asia Pacific propylene market is projected to contribute for a major share in terms of revenue in the global market. Rising demand for propylene in various end-use industries is a major factor estimated to support revenue growth of target market. Increasing demand for automobiles in countries such as India, China, and Indonesia owing to rapid urbanization and increasing spending power of people is expected to support revenue growth of the market in the region. Moreover, growing demand for propylene in the construction industry is expected to augment revenue growth of Asia Pacific propylene market over the forecast period.
Asia Pacific contributes for major revenue share in the global propylene market, followed by markets in Asia Pacific and Europe. The propylene market in North America is projected to grow at a steady growth rate over the forecast period. Increasing demand for propylene in the construction industry is expected to support revenue growth of the potential market in North America. Moreover, growing demand for commercial vehicles in the region owing changing living standards is another factor expected to drive revenue growth of North America propylene market.
Global Propylene Market Segmentation:
Segmentation by Derivative:
- Propylene oxide
- Acrylic acid & Acrylates
- Others (Oxo-alcohols, Isopropyl alcohol, Isobutyl benzene, EPDM rubbers)
Segmentation by Industry Vertical:
- Others (Pharmaceuticals, Solvents)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- BASF SE
- The DOW Chemical Company
- China Petrochemical Co., Ltd.
- Exxon Mobil Corporation
- LyondellBasell Industries N.V.
- Formosa Plastics Corporation
- Sumitomo Chemical Co., Ltd.
- Chevron Phillips Chemical Company
- IRPC Public Company Limited
- INEOS Group
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