Propylene market report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. The report provides actionable intelligence on major factors influencing the Propylene market (drivers, opportunities, industry specific challenges, and other critical issues) along with the Propylene market size of various segments.
Propylene is produced through traditional processes like steam cracking and fluid catalytic cracking (FCC). It is obtained as a byproduct of the steam cracking process of natural gas liquids and naphtha that is used for the production ethylene and from gasoline-producing refinery through the FCC process. Propylene and its derivatives are used in industries such as construction, automotive, furniture, decorative molding, and others.
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On the grounds of comprehensive, reliable data derived from extensive research of multiple sources (both primary and secondary) and in-depth market analysis with inputs from industry experts, Propylene market projected to grow at a CAGR of 5.65% during the period 2017-2021.
Propylene Market Drivers, Challenges and Trends: –
Market Driver: – Increase in demand for polyurethane will be a key driver for market growth. polyurethanes are made from propylene oxide and are used in sealants, thermal insulators, and flooring materials that are used in industries like packaging, automotive, footwear, furniture, and construction.
Market Challenge: – Propylene is derived from heavy feedstocks, which is derived from crude oil. thus, the price of propylene depends on global crude oil prices. vendors face challenges in areas such as the supply of raw materials, fluctuation in demand, and pricing volatility. environmental concerns regarding the production of propylene derivatives of crude oil will lead to a decline in their consumption. oil price fluctuation affects the production costs for many chemicals that constitute the downstream segment for petrochemicals. a continued oil price recovery will lead to the use of naphtha instead of ethane as a feedstock. more propylene can be produced from naphtha-based steam cracking process. hence, propylene producers in economies such as china will increase the use of this method. higher grades of ethylene can be produced from naphtha steam cracking, which also leads to the production of large amounts of propylene.
Market trend: – Growing preference for sustainable products will be a key trend for market growth. According to a European Commission survey, 80% of the consumers in Europe prefer buying products that have minimal impact on the environment. Bio-polypropylene is already used extensively as a packaging material for making beverage bottle closures. Due to the growing consumer inclination toward bio-based products, food and beverage manufacturers are increasingly focusing on using bio-polypropylene as a packaging material. It is lightweight and has less wall-thickness capabilities, which helps in producing more finished goods using less raw materials
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Geographic Segmentation: – APAC, Europe, North America, ROW
To calculate the Propylene market size the report considers the sales volume of downstream propylene derivatives like polypropylene, propylene oxide, acrylonitrile, cumene, acrylic acid, and others. The report covers the market landscape and its growth prospects over the coming years. Further it converses about key vendors operating in Propylene market like BASF, Dow Chemical, ExxonMobil Chemical, INEOS, LyondellBasell Industries and many more.
Some of the Exhibits included in Propylene Market report: –
Exhibit 01: Segmentation of global propylene market
Exhibit 02: Market segmentation by production process
Exhibit 03: Market segmentation by downstream products
Exhibit 04: Segmentation by geography
Exhibit 05: Propylene production process
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With geographic breakdown of the Propylene market in terms of detailed analysis and impact, this report provides business dimensions with an eye on growth opportunities and contribution of upcoming market segments.