Chemicals

Global Propylene Market Is Estimated To Witness High Growth Owing To Increasing Demand From Packaging Industry

Gauri Cmi

Global Propylene Market Is Estimated To Witness High Growth Owing To Increasing Demand From Packaging Industry

The global Propylene Market is estimated to be valued at US$ 3.9 billion in 2021 and is expected to exhibit a CAGR of 5.9% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Propylene is a flammable gas that is used in the production of various industrial products. It is a byproduct of petroleum refining and is commonly used in the manufacturing of plastics, fibers, and packaging materials. The growing demand for packaging materials, especially in the food and beverage industry, is one of the key factors driving the growth of the global propylene market. Additionally, the increasing demand for propylene derivatives, such as polypropylene and propylene oxide, is further fueling the market growth.

B) Market Dynamics:

Global Propylene Market dynamics are influenced by drivers and opportunities that propel the growth of the propylene market. One driver is the increasing demand for packaging materials. With the growth of the e-commerce industry and the rise in online shopping, the demand for packaging materials has witnessed a significant surge. Propylene is extensively used in the manufacturing of packaging materials, such as films, bottles, and containers. The wide range of applications of propylene in the packaging industry is driving market growth.

Another driver is the increasing production of automobiles. Propylene is used in the production of automotive components, such as interior trims, bumpers, and hoods. With the growth of the automotive industry, the demand for propylene is expected to increase significantly.

C) Segment Analysis:

The propylene market can be segmented based on application into polypropylene, propylene oxide, acrylonitrile, cumene, and others. Among these, polypropylene is the dominating segment due to its wide range of applications in industries such as automotive, packaging, and construction. Polypropylene is used in the production of various products, such as packaging films, automotive parts, and household appliances, which is driving the growth of the segment.

D) PEST Analysis:

- Political: The propylene market is subject to government regulations and policies concerning environmental protection and safety. Regulatory compliance and environmental concerns are important factors influencing the market dynamics.

- Economic: Economic factors, such as GDP growth, disposable income, and consumer spending, play a significant role in the growth of the propylene market. The economic stability of a region directly impacts the demand for propylene and its derivatives.

- Social: Changing consumer preferences and lifestyle trends influence the demand for packaging materials and other products manufactured using propylene. Increasing awareness about environmental sustainability has also led to the adoption of eco-friendly packaging materials.

- Technological: Technological advancements in propylene production and processing techniques have resulted in improved efficiency and cost-effectiveness. These advancements have positively impacted the market growth.

E) Key Takeaways:

In conclusion, the global propylene market is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period. The increasing demand for packaging materials, driven by the growth of the e-commerce industry, is one of the key factors driving market growth. Polypropylene is the dominating segment due to its wide range of applications in various industries. The Asia-Pacific region is expected to be the fastest-growing and dominating region, driven by the presence of major players and the increasing demand from end-use industries. The key players operating in the global propylene market include BASF SE, BP Plc., China Petroleum & Chemical Corporation, ExxonMobil Corporation, and IRPC Plc.

Overall, the propylene market is poised for significant growth in the coming years, driven by the increasing demand for packaging materials and propylene derivatives. Technological advancements and regulatory factors will also play a crucial role in shaping the market dynamics.

Gauri Cmi

Propylene Market is Projected to Grow at a CAGR of 5.25% by 2030 - ChemAnalyst

ChemAnalyst 2021-12-09

According to ChemAnalyst report, “Propylene Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. com/ChemAnalyst/RequestFormDepending upon level of purity, Propylene market is segmented into different grades such as Polymer Grade (>=99. have wide range of applications in numerous industries and are also going to boost Propylene demand in the forecast period. Further, rapidly growing Construction and Automotive industry along with Packaging industry can offer lucrative growth opportunities in Global Propylene market. Due to rising environmental concerns, leading Propylene manufacturers are aiming to shift from petrochemical driven Propylene to biobased Propylene to reduce carbon footprint would extend potential prospects for the expansion of Propylene market size in the forecast period.

Energy efficient cooEnergy efficient cooling technologies is fastest growing segment fueling the growth of Propylene Market ing technologies is fastest growing segment fueling the growth of Propylene Market

samruddhicmi123 2023-11-15

The Global Propylene Market is estimated to be valued at US$ 4. 0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Segment Analysis The global propylene market is segmented by end use industry and derivative. Regional analysis: Asia Pacific dominated the global propylene market in 2023 and is likely to continue its dominance over the forecast period. Key players: Key players operating in the propylene market are BASF SE, BP Plc.

The Propylene Market Is Driven By Growing Demand From PET And Polypropylene Industries

ashwini bakhade 2024-02-02

Companies are undertaking significant capacity expansions and investments in new propylene plants to meet the rising demand. For instance, Dow Chemical is increasing its propylene production capacity at its Texas operations facility by 500,000 tons per annum. Porter’s AnalysisThreat of new entrants: The threat of new entrants into the propylene market is moderate. Bargaining power of buyers: The bargaining power of buyers in the propylene market is high. Regional analysis: North America accounts for the largest share in the propylene market owing to presence of major petrochemical industry.

Propylene Oxide Market CAGR 5.95% by 2029, Industry Overview & Size, Share by Company, Trends and Growth Analysis | Data Bridge Market Research

Bishal Gupta 2022-06-24

This Propylene Oxide Market research report also contains strategic profiling of major players in the market, meticulously analyzing their core competencies, and drawing a competitive landscape for the market. Top Players Analyzed in the Report are:Some of the major players operating in the propylene oxide market report areDuPont. Key Market Segmentation:On the basis of component, the Propylene Oxide Market is segmented into tools and services. On the basis of data type, the Propylene Oxide Market is segmented into customer data, product data, financial data and supplier data. Table of ContentsExecutive SummaryMarket Landscape Market Sizing Five Forces AnalysisGet TOC Details:https://www.

Propylene Glycol Market Size 2023 Challenges and Opportunities Forecast by 2030

Sakshi Shah 2023-02-20

The study provides a competitive landscape for the industry as well as an analysis of Porter's Five Forces model to provide market participants with a comprehensive understanding of the Propylene Glycol Market. The research examines the market's current position, as well as recent trends and drivers, as well as the overall market environment. com/sample-request/1472Market SegmentationTo provide a comprehensive view of the industry, the research divides the Propylene Glycol Market by application, end-user, and geography. Reasons to Buy the Propylene Glycol Market ReportThis study provides a precise projection of each segment's contribution to the Propylene Glycol Market's growth, as well as actionable market insights on COVID-19's impact on each segment. Table of Contents- Major Key PointsIntroductionResearch MethodologyMarket DynamicsImpact AnalysisValue Chain AnalysisPorter’s 5 Forces ModelPEST AnalysisGlobal Propylene Glycol Market, By SourceGlobal Propylene Glycol Market, By GradeGlobal Propylene Glycol Market, By End-Use IndustryRegional AnalysisCompany ProfilesCompetitive LandscapeConclusionBuy Single User PDF of Propylene Glycol Market Research @ https://www.

Global Propylene Market to Reach a Valuation of US$ 5.8 Billion by 2023

Ashish Thapa 2023-10-13

With the increasing concerns regarding environmental sustainability and the need for renewable and eco-friendly alternatives, there is a rising adoption of bio-based propylene. The incorporation of bio-based propylene in various applications, such as plastics, paints, adhesives Segment Analysis: The propylene market can be segmented based on application into polypropylene, acrylonitrile, propylene oxide, Cumene, and others. The Propylene Market Share is estimated to be valued at US$ 3. The market is driven by various factors, including the increasing demand for polypropylene in industries such as packaging, automotive, and textiles. In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the propylene market.

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