Propylene Market Size, Share, Demand & Trends Analysis Report by 2028

Propylene Market

Propylene Market- By Grade (Polymer Grade, Chemical Grade, and Refinery Grade), By Derivative (Polypropylene, Cumene, Propylene oxide, Alcohols, Acrylonitrile, and Acrylates), By End-User (Packaging, Textiles, Construction, and Automotive), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028

Category: Chemical & Materials Report Format : PDF Pages: 157 Report Code: ZMR-6819 Published Date: Nov-2021 Status : Published
Market Size in 2020 Market Forecast in 2028 CAGR (in %) Base Year
USD 91.2 Billion USD 138.01 Billion 6.1% 2020

Propylene Market Size & Share

The global Propylene Market accrued earnings worth approximately 91.2 USD Billion in 2020 and is predicted to gain revenue of about 138.01 USD Billion by 2028, is set to record a CAGR of nearly 6.1% over the period from 2021 to 2028. The report offers an assessment and analysis of the Propylene Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Propylene Market: Overview

Propylene is a key raw material for petrochemical firms and is utilized in producing Oxo-alcohols, polygas chemicals, polypropylene, acrylic acid, acrylonitrile, acetone, methyl methacrylate, cumene, propylene glycol, isopropyl alcohol, and propylene oxide. In addition to this, the chemical finds a plethora of applications in solvents, medicine, construction, fabrics, automotive, and construction sectors. Incredible demand for propylene items in production of interior trims, battery cases, trays, instrumental panels, fender liners, and bumpers will spearhead expansion of propylene industry.

Global Propylene MarketRequest Free Sample

Propylene Market: Growth Factors

Increase in use of propylene in commercial vehicles is likely to transcend propylene industry surge in years ahead. Apparently, humungous necessity of sustainable packaging of food products such as nuts, rice, and sauces is set to optimize development of propylene market in upcoming years. A prominent increase in shale gas production in Asia Pacific countries will further contribute towards revenue of propylene market. Moreover, manufacturers are trying to produce green & sustainable products as a part of their corporate social responsibility to protect environment. This, in turn, will culminate in humungous growth of the propylene market in the years ahead.

Furthermore, the product is used for manufacturing polypropylene plastics for fibers and injection molding. Apart from this, it also finds large-scale applications in the plastic & chemical sectors. However, toxicity associated with propylene glycols such as dipropylene glycol, polypropylene glycol, monopropylene glycol, and tripropylene along with strict laws governing its usage is anticipated to truncate propylene industry expansion in upcoming years.

Propylene Market: Regional Landscape

Asia Pacific Propylene Market To Reach Highest Citadel Of Growth By 2028

Regional market growth over assessment period is subject to rise in utilization of the chemical compound in countries such as Japan, China, and India. For the record, China is predicted to contribute nearly over 50% of production capacity in Asia and nearly 47% of global production capacity in upcoming years. The surge in demand for bulk polymers along with demand for propylene in the manufacturing of sweaters, home furnishings, and sportswear fabrics will culminate in humungous growth of the propylene market in Asia Pacific zone.

Propylene Market: Report Scope

Report Attributes Report Details
Report Name Propylene Market Research Report
Market Size in 2020 USD 91.2 Billion
Market Forecast in 2028 USD 138.01 Billion
Growth Rate CAGR of 6.1%
Number of Pages 157
Key Companies Covered Exxon Mobil Corporation, The Dow Chemical Company, LyondellBasell Industries, INEOS Group Limited, BASF SE, Sumitomo Chemical Company Limited, Saudi Basic Industries Corporation, Chemical Company, LLC, and Formosa Plastics Group.
Segments Covered By Grade, By Derivative, By End-User, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2020
Historical Year 2016 to 2020
Forecast Year 2021 - 2028
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Propylene Market: Competitive Landscape

Key players influencing growth of propylene market and profiled in our market research study include

  • Exxon Mobil Corporation
  • The Dow Chemical Company
  • LyondellBasell Industries
  • INEOS Group Limited
  • BASF SE
  • Sumitomo Chemical Company Limited
  • Saudi Basic Industries Corporation
  • Chemical Company LLC
  • and Formosa Plastics Group.

The global Propylene Market is segmented as follows:

By Grade

  • Refinery Grade
  • Polymer Grade
  • Chemical Grade

By Derivative

  • Polypropylene
  • Cumene
  • Propylene oxide
  • Alcohols
  • Acrylonitrile
  • Acrylates

By End-User

  • Packaging
  • Automotive
  • Textile
  • Construction

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Increase in use of propylene in commercial vehicles is likely to transcend propylene industry surge in years ahead. Apparently, humungous necessity of sustainable packaging of food products such as nuts, rice, and sauces is set to optimize development of propylene market in upcoming years. A prominent increase in shale gas production in Asia Pacific countries will further contribute towards revenue of propylene market. Moreover, manufacturers are trying to produce green & sustainable products as a part of their corporate social responsibility to protect environment. This, in turn, will culminate into humungous growth of propylene market in years ahead. Furthermore, the product is used for manufacturing polypropylene plastics for fibers and injection molding. Apart from this, it also finds large-scale applications in plastic & chemical sectors.    

 

According to Zion market research report, the global Propylene Market accrued earnings worth approximately 91.2 (USD Billion) in 2020 and is predicted to gain revenue of about 138.01(USD Billion) by 2028, is set to record a CAGR of nearly 6.1% over the period from 2021 to 2028.

Asia Pacific will contribute lucratively towards the regional market size over the projected timeline. The regional market surge is subject to rise in utilization of the chemical compound in countries such as Japan, China, and India. For the record, China is predicted to contribute nearly over 50% of production capacity in Asia and nearly 47% of global production capacity in upcoming years. Surge in demand for bulk polymers along with demand for propylene in manufacturing of sweaters, home furnishings, and sportswear fabrics will culminate into humungous growth of propylene market in Asia Pacific zone. 

The key market participants include Exxon Mobil Corporation, The Dow Chemical Company, LyondellBasell Industries, INEOS Group Limited, BASF SE, Sumitomo Chemical Company Limited, Saudi Basic Industries Corporation, Chemical Company, LLC, and Formosa Plastics Group.

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