Propylene Tetramer Market : Segmentation, Industry trends and Development to 2027
Global Propylene Tetramer Market: Drivers & Restraints
The consumption and demand of propylene tetramer market is expected to grow with the increase in demand from end use industries. The recuperating oil and gas industry and thriving automobile production are expected to create significant demand for propylene tetramer owing to its extensive application in the manufacturing of lubricant additives. Likewise, increasing urbanization has led to an escalation in the demand for surfactants, which are a critical part of household chemicals such as detergents, this demand is expected to create significant opportunities for the global propylene market during the forecast period. The increasing production and consumption of fertilizers and other agricultural chemicals also contribute to the sustainable demand for propylene tetramer market. However, stringent environmental regulations regarding the utilization of non- biodegradable substances and presence of alternate chemical substitutes are expected to restrain the revenue sales of the market.
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Global Propylene Tetramer Market: Segmentation
Global Propylene Tetramer Market can be segmented on the basis of application as:
Oil and Fuel additives
Fertilizer and herbicide
Surfactants and detergents
Paint and Coatings
Water Treatment chemicals
Global Propylene Tetramer Market: Regional Outlook
In the global propylene tetramer market, North America is a prominent consumer of propylene tetramer, which is due to the increased sales of tetramer due to its application in the lubrication and chemical surfactants and to large industrial sector. Followed by North America, Europe is also one of the major markets attributed to the high use of propylene tetramer in the lubricant industry. The demand of propylene tetramer market in North America and Europe is expected to be moderate for the forecast period owing to increasing significance of bio friendly chemicals and presence of stringent regulations restraining the production and consumption of non-bio degradable products and chemicals. However, the market dynamics is projected to shift towards Asia Pacific owing to relatively higher consumption and modest presence of environmental regulations. Consumption growth is forecasted to be most significant in Asia, followed by Middle East & Africa and South America. In Asia Pacific region, major industrial economies such as India, China and South Korea are expected to project higher growth in terms of both consumer and producer end. Middle East & Africa and Eastern Europe are estimated to participate significantly in the market dynamics of propylene tetramer owing to the escalating consumption in oil and gas sector.
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Global Propylene Tetramer Market: Market Participants
Examples of some of the market participants in the global propylene tetramer market, Bayer AG E.I. du Pont de Nemours & Company, Exxon Mobil Chemical, Shanghai Petrochemical, Dow Chemical Company, TPC Group,Chevron Oronite Company LLC, PJSC Nizhnekamskneftekhim and Qilu Petrochemical among others. The propylene tetramer market is highly fragmented and participants are focussing on both organic and inorganic expansions.
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