[Online Quarterly Update] The propylene market witnessed a demand of 90 million tons in 2021 and is anticipated to grow at a healthy CAGR of 6.5% through 2035. Propylene also known as propene, with a chemical formula C3H6, is an unsaturated organic compound. It is a colorless, highly combustible, and low toxic fuel gas with a naturally pungent smell which becomes liquid under pressure. Propylene is produced commonly by three main processes including Steam cracking, fluid catalytic cracking (FCC), and Olefin conversion technology by using liquid petroleum as feedstock such as LPG, naphtha, propane, etc.
Propylene is a versatile commodity in the chemicals and petrochemicals industry as it is a key raw material to several other chemicals. On the basis of its purity, Propylene is segmented into three grades- - polymer grade (>=99.5 percent pure), chemical grade ((>=93.4 purity), and refinery grade (with a purity of around 60-70 percent). It is widely used as fuel gas and in the manufacturing of fibers, elastomers, and various other chemicals such as Polypropylene, Acrylonitrile, Acetone, Isopropyl Alcohol, Propylene Glycol, propylene oxide, cumene, etc. through various processes like polymerization, esterification, oxidation, hydration, alkylation, and others. The majority of the total Propylene produced globally is consumed in the production of Polypropylene through the polymerization process. Owing to the applications of Propylene and its derivatives plastics, and chemical industries are extensively dependent on it, and it is one of the world’s most largely produced commodities after ethylene. Polypropylene most widely used thermoplastic polymer and key material for plastic parts and is used in several industries including packaging, electronics and electrical, automotive, textile, living hinges, and others. Whereas other derivatives of Propylene find application in various industries including Cosmetics and Personal Care, Food & Beverage, Pharmaceuticals, Building & Construction, Automotive, and Others (textile, paper, and pulp, electronics, consumer goods, chemicals). Hence, depending on the utility of Propylene and its derivatives, the major end-use industries are Automotive, Packaging, Construction, Textiles, and Others. Hence, the growth in these sectors would augment the demand for Propylene in the forecast period. However, the factors like health and environmental hazards related to Propylene along with strict safety guidelines related to its production and transportation are anticipated to be the major restraints in the market growth of Propylene.
In the first half of 2020, the outbreak of the Covid-19 pandemic impacted several industries due to the imposition of nationwide lockdowns by the global economies that resulted in the hindrance in industrial operations and trade. Despite one of the widely used chemicals, a slum in the demand for Propylene was observed, as its end-use industries such as Automotive, Textile, and Construction were drastically affected amid the first wave of Covid-19. Although demand for Propylene has been surged from the Packaging industry due to the acceleration in e-commerce during pandemics. Moreover, in the latter half of 2020, after the relaxations in lockdown, there was a speedy recovery in the Automobile as well as Construction sectors which consequently improved the demand for Propylene in the market. It is anticipated that the market for Propylene is likely to propel at a promising rate in the forecast period owing to its wide range of applications.
Region-wise, Asia-Pacific dominates the market for Propylene globally and is projected to grow significantly over the forecast period owing to the booming Automobile, Construction, Packaging, and Textile sectors in the region. Additionally, China is the leading producer of textile, plastics, electronics among others therefore, expected to lead the propylene industry over the forthcoming years. In the Asia Pacific region, China, India, Japan, and South Korea are among the world’s leading consumers of Propylene and are likely to bolster the market growth of Propylene in the Asia Pacific over the forecast period.
Key players in the Propylene industry include LyondellBasell Industries N.V., The Dow chemical Company, SABIC, BASF SE, Sinopec Corp., BP plc., ExxonMobil Corporation, Shell Plc., Total S.A., Huntsman Corporation, Valero Energy Corp. China Petroleum & Chemical Corporation, IRPC plc. and Reliance Industries Limited among others.
Years Considered for this Report:
Historical Years: 2015 – 2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023 – 2035
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Objective of the Study:
• The primary objective of the study was to evaluate and forecast the Propylene capacity, production, demand, inventory, and demand–supply gap globally.
• To categorize Propylene demand based on End Use, Grades, region and distribution channel
• To identify major customers of Propylene globally.
• To evaluate and forecast Propylene pricing globally.
• To identify and profile major companies operating globally Propylene Market.
• To identify major news, deals and expansion plans globally Propylene Market.
To extract data for Propylene Market, primary research surveys were conducted with Propylene manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Propylene Market over the coming years.
ChemAnalyst calculated Propylene Demand globally by analyzing the historical data and demand forecast which was carried out considering the Application industries growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience
• Propylene manufacturers and other stakeholders
• Organizations, forums and alliances related to Propylene distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Propylene manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report, the Global Propylene Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
3. Distribution Channel (Direct/Institutional Sales, Other Channel Sales)
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Key companies profiled
LyondellBasell Industries N.V., The Dow chemical Company, SABIC, BASF SE, Sinopec Corp., BP plc., ExxonMobil Corporation, Shell Plc., Total S.A., Huntsman Corporation, Valero Energy Corp. China Petroleum & Chemical Corporation, IRPC plc. and Reliance Industries Limited among others.
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
12.7.4.Argentina Propylene Demand-Supply Scenario, 2015-2030, By Volume
12.7.4.1.Demand
12.7.4.2.Supply
12.7.4.3.Gap
12.7.5.Argentina Propylene Demand Outlook, 2015-2030, By Volume
12.7.5.1.By End Use
12.7.5.2.By Grade
12.7.5.3.By Sales Channel
12.7.5.4.By Company Share (At least top 3 companies’ market share
12.7.5.5.By Region
13.Country-wise Import
14.Country-wise Export
15.News and Deals
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Which are the different Grades of Polypropylene Glycol?
Ans:
Propylene is segmented into different grades based on its Purity such as Polymer Grade (>=99.5%), Chemical Grade (>=93.4%), Refinery Grade (60 - 70%)
Q2.
What are the major applications of Polypropylene Glycol?
Ans:
Propylene finds application as a fuel, chemical intermediate, in the production of resins, fibers, elastomers and various other high-end chemicals etc.
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