Propylene is used in various end-use industries such as automotive, construction, textile, packaging, and others. Propylene is considered as one of the key building blocks of petrochemicals and the second highly used petrochemical after ethylene. Major propylene derivatives are polypropylene, propylene oxide, cumene, acrylonitrile, oxoalcohols, isopropyl alcohol, acrylic acid, and acrylate.
Polypropylene segment accounted for highest revenue share in the propylene market in 2016, and the segment is projected to retain its position over the forecast period due to high demand for polypropylene and its alloys in automotive industry. In packaging, polypropylene has a variety of application such as bottles, food packaging, and biaxially oriented polypropylene. Therefore, packaging segment is the major segment in end-use Industry.
Asia Pacific dominated the market in 2016, and the region is projected to be the fastest growing in the global propylene market over the forecast period. The growth of Asia Pacific propylene market is attributed to increasing demand from end-use industries along with strategic investment by market players such as IRPC Plc., Fujian Meide Petrochemical in the region to tap potential market in China, India, and South Korea. For instance, in December 2016, Thai IRPC announced to expand its local production capacity of propylene by 63% to boost its long-term earnings growth.
Key features of the study:
- This report provides in-depth analysis of propylene and provides market size (US$ Million & Million Metric Tons) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2018 – 2025), considering 2017, as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players It profiles leading players in the global propylene market on the basis of the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans Key companies covered as a part of this study includes China Petroleum & Chemical Corporation, China National Petroleum Corporation (CNPC), BASF SE, ExxonMobil Corporation, LyondellBasell Industries N.V., The DOW Chemical Company, SABIC, and BP Plc. Insights from this report would allow marketers and the management authorities of companies to make informed decisions regarding their future product launch, technology upgrade, market expansion, and marketing tactics The global propylene market report caters to various stakeholders in this industry including investors, suppliers, propylene manufacturers, distributors, new entrants, and financial analysts Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the propylene market