Global Propylene Market – Industry Trends and Forecast to 2026

Propylene or propene is a colorless and flammable gas which is derived by cracking petroleum hydrocarbons. They are usually the byproduct of natural gas processing and oil refining. Cumene, alcohols, acrylic & acrylates, propylene oxide are some of the derivatives of the propylene. They are often used as fuel. They are usually converted into liquid by increasing the pressure so that they can be stored easily. Propylene is widely used in industries such as construction, packaging, textile, automotive and others.

Market Analysis: Global Propylene Market

Global propylene market is set to witness a steady CAGR of 4.15% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand of propylene from construction industry and rising prevalence for polyurethane is the major factor for the growth of this market.

Global Propylene Market Segmentation:

• Global Propylene Market By Derivatives (Polypropylene, Propylene oxide, Cumene, Acrylonitrile, Acrylic acid & Acrylates, Alcohols, Others)
• Industrial Vertical (Automotive, Construction, Packaging, Textile, Others)
• Types (Purity 99%, Purity 99.5%, Others)
• Application (Organic Chemical Raw Materials, Synthetic Resins, Fine Chemicals, Other)
• Production Process Technology (Steam Cracking, Refinery, On- Purpose)
• Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)

Key Market Competitors:

Few of the major competitors currently working in the global propylene market are Dow, BASF SE, Sumitomo Chemical Co., Ltd., Exxon Mobil Corporation., INEOS, LyondellBasell Industries Holdings B.V., SABIC, Asahi Kasei Corporation, China Petrochemical Corporation, Chevron Phillips Chemical Company, Manali Petrochemical, AGC Chemicals, Royal Dutch Shell, Oleon NV, Repsol, Linde, Honeywell International Inc, Huntsman International LLC., Archer Daniels Midland Company, Solventis and others.

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Market Drivers:

• Increasing demand for commercial vehicles will drive the market
• Rising preference for sustainable products is also driving the market growth
• Growing demand for propylene in packaging industry will also act as a driver for this market
• Increasing demand for polyurethane worldwide is also contributing as a factor for the growth of this market

Market Restraints:

• Volatility in the price of raw material will restrain the market growth
• Increasing environmental concern associated with the production of propylene will also hamper market

Competitive Analysis:

Global propylene market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of propylene market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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