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Propylene Market Size Worth USD 150.83 Billion in 2032 | Key Companies - Exxon Mobil Corporation, Dow, LyondellBasell Industries Holdings B.V.

04-24-2024 04:31 PM CET | Chemicals & Materials

Press release from: Emergen Research

Propylene Market

Propylene Market

The global propylene market is poised to witness significant growth, with a projected revenue CAGR of 3.8% during the forecast period. Key factors driving this growth include the increasing use of propylene in commercial vehicles and rising demand from the automotive and packaging industries.

Market Drivers
The rising use of propylene in commercial vehicles is attributed to its role as a common lubricant, contributing to cost and fuel savings. With propylene-based materials replacing traditional ones like steel, there's a notable shift towards enhancing passenger safety and comfort in modern vehicles.

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Market Demands
A surge in demand for propylene derivatives is another driving force. These derivatives find applications across various industries, including automotive, packaging, and textiles. From polypropylene (PP) to propylene oxide and cumene, each derivative serves a specific purpose, further fueling market growth.

Market Restraints
However, concerns regarding the environmental impact and health risks associated with propylene pose challenges. The improper disposal of propylene-based products leads to increased plastic pollution, necessitating the development of innovative recycling techniques. Moreover, high levels of propylene exposure can have adverse effects on human health.

Market Trends
Despite these challenges, the market is witnessing trends such as the increasing usage of propylene in textiles. Polypropylene, alongside other synthetic fabrics, finds extensive application in various products, including apparel, face masks, and filters. Its moisture-wicking properties make it ideal for close-to-skin applications.

Market Segment Insights

Propylene Grade Insights:
• Chemical Grade Segment: Dominating the market, chemical grade propylene finds versatile applications in petrochemical industries, contributing to its largest market share.

• Polymer Grade Segment: With a focus on plastics manufacturing, the polymer grade segment is expected to register moderate growth, driven by the demand for high-purity propylene.

Propylene Derivative Insights:
• PP Segment: Expected to hold a significant market share, polypropylene finds widespread application across various industries due to its strength, stiffness, and cost-effectiveness.

• Propylene Oxide Segment: Witnessing steady growth, propylene oxide serves as a crucial raw material in industrial applications such as surfactant production and organic synthesis.

Propylene End-Use Industry Insights:
• Construction Segment: Accounting for the largest market share, the construction industry benefits from the durability and resilience of polypropylene in various applications, including siding and roofing membranes.

• Packaging Segment: Projected to register the fastest growth rate, the packaging industry leverages the cost-effectiveness and heat resistance of polypropylene for food containers and storage solutions.

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Propylene Top Companies and Competitive Landscape

The global propylene market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective propylene solutions in the market.

Some major players included in the global propylene market report are:
• Exxon Mobil Corporation
• Dow
• LyondellBasell Industries Holdings B.V.
• INEOS Group Limited
• BASF SE
• Sumitomo Chemical Co., Ltd.
• SABIC
• ADM
• Formosa Plastics Group
• Asahi Kasei Corporation
• Borealis AG
• Chevron Phillips Chemical Company LLC
• Manali Petrochemicals Limited
• AGC Chemicals Americas
• Shell Global
• Oleon NV
• BP p.l.c.
• Sinopec Corp
• IRPC Public Company Limited
• Reliance Industries Limited

Propylene Latest Industry News
• On 15 July 2023, Abu Dhabi National Oil Company prompted formal talks with Austrian energy company OMV on the establishment of a new joint petrochemicals holding company. The companies will combine their separate ownership stakes in Borouge and Borealis. With a combined annual production capacity of over 10 million tonnes, the planned merger would establish a global leader in propylene, PP, and other petrochemical products.

• On 26 June 2023, Grupa Azoty Group announced the launch of PP production under the Gryfilen brand at Polimery Police, the biggest propylene and PP plant in Central and Eastern Europe. The new manufacturing facility of Grupa Azoty Group was expected to generate 429,000 tonnes of propylene and 437,000 tonnes of polypropylene per year. The European market was set to sell Gryfilen PP in August 2023. The budget for the Polimery Police project was USD 1.58 billion.

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Propylene Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global propylene market on the basis of grade, derivative, application, end-use industry, and region:

• Grade Outlook (Revenue, USD Billion; 2019-2032)
o Refinery Grade
o Polymer Grade
o Chemical Grade

• Derivative Outlook (Revenue, USD Billion; 2019-2032)
o Polypropylene
o Propylene oxide
o Cumene
o Acrylonitrile
o Acrylic acid and Acrylates
o Alcohols
o Others

• Application Outlook (Revenue, USD Billion; 2019-2032)
o Organic Chemical Raw Materials
o Synthetic Resins
o Fine Chemicals
o Others

• End-use Industry Outlook (Revenue, USD Billion; 2019-2032)
o Packaging
o Automotive
o Textile
o Construction
o Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights

About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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