Propylene Market Analysis and Future Outlook, Size, Strategies and Forecasts

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.

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.

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Key Developments in the Market:

• In January 2019, Tamil Nadu Petro Products announced that they have started the production of an industrial intermediate chemical Propylene Oxide. This new production is specially started to serve domestic market and is set up by the ECH manufacturing plant which was closed in 2013.
• In December 2015, The Dow Chemical Company announced that they have started the operations at its new propylene production facility in Freeport. This new site has the ability to produce 750 kilotons of propylene annually. This new launch will help the company to strengthen their position in their market and will also improve their structural feedstock hedge.

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.

Segmentation: Global Propylene Market

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

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

Reasons to Purchase this Report

• Current and future of global anesthesia monitoring market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
• Regions/Countries that are expected to witness the fastest growth rates during the forecast period

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved

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Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.