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Piperylene Market | Shell Chemicals, LOTTE Chemical Corporation, Chevron Phillips Chemical Company
Piperylene Market
Piperylene is used as a monomer in manufacturing adhesives, resins, and plastics, attributing to properties such as lightweight, toughness, high mechanical strength, and resistance towards radiation and corrosion. Increasing use of lightweight components in aerospace and automotive industry is expected to fuel the growth of the piperylene market over the forecast period.
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Piperylene Market Taxonomy
On the basis of application, the global piperylene market is segmented into:
Plastics
Adhesives
Resins
Others (Paints, Rubber, Epoxy Hardener, and Tackifier)
In June 2018, Exxonmobil has started the production of “Escorez” Hydrocarbon resin as well as halobutyl elastomer (rubber) at its integrated petrochemical complex at Singapore. The hydrocarbon resin plant will have a total production capacity of 90 kilo tons per year to meet the demand for hot melt adhesives used in baby diapers and packaging solutions. As piperylene is used as a raw material for manufacturing hydrocarbon resin, the demand of piperylene is estimated to rise significantly in Singapore.
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Key Developments
In May 2019, Eastman Chemical Company announced the expansion of non-hydrogenated as well as hydrogenated hydrocarbon resin at two of its petrochemical facilities – Middelburg (The Netherlands) and Pennsylvania (United States). The expansion will be completed by mid-2020 and the hydrocarbon resins will then further be used in manufacturing hot-melt adhesives. The expansion in the hydrocarbon resin plants will further drive-up the demand for piperylene in the United States and Netherlands.
In July 2019, Henkel announced its plans to invest US$ 45 Mn to expand its UV acrylic adhesives plant in Salisbury, North Carolina (United States). The UV acrylic adhesives will be further used for manufacturing adhesives labels and tapes. As piperylene acts as binder in manufacturing of adhesives, the expansion will further increase the demand for piperylene in the U.S.
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