PUBLISHER: Roots Analysis | PRODUCT CODE: 1836228
PUBLISHER: Roots Analysis | PRODUCT CODE: 1836228
As per Roots Analysis, the global propylene market size is estimated to grow from USD 115.75 billion in the current year USD 183.27 billion by 2035, at a CAGR of 4.26% during the forecast period, till 2035.
The opportunity for propylene market has been distributed across the following segments:
Type of Derivative
Type of End-User
Type of Purity
Type of Production Process Technology
Area of Application
Company Size
Geographical Regions
Propylene Market: Growth and Trends
Propylene, also known as propene, is a colorless and flammable gas produced during petroleum refining and natural gas processing. It serves as a vital building block for the production of propylene oxide and other chemical compounds, including polypropylene (PP) plastics and acrylonitrile, among others. Its versatility and importance in the manufacturing of a wide range of everyday items make it critical across multiple industries such as automotive, construction, and packaging.
The rising demand for effective plastic packaging solutions is driving the global market for polypropylene. This material has a variety of advantageous properties that support its use in many sectors, including improved operational temperature tolerance, high tensile strength, excellent resistance to chemicals, and low moisture absorption. Currently, polypropylene is widely used in injection molding processes due to its capacity to be easily melted and molded into different shapes without losing its intrinsic quality. As a result, owing to the above mentioned factors, the propylene market is expected to grow significantly during the forecast period.
Propylene Market: Key Segments
Based on type of derivative, the global propylene market is segmented into acrylates, acrylonitrile, acrylic acid, alcohols, cumene, polypropylene, propylene oxide, and others. According to our estimates, currently, the polypropylene segment captures the majority of the market share. This growth is primarily driven by its lightweight quality, durability, and versatility. Moreover, this material is well-suited for numerous applications, such as packaging, textiles, automotive parts, construction materials, and consumer goods.
Conversely, the propylene oxide segment is expected to grow at a higher compound annual growth rate (CAGR) during the forecast period. This increase can be linked to the fact that propylene oxide is a key derivative utilized in manufacturing polyurethane foams, polyether, and various types of industrial chemicals.
Based on type of end user, the global propylene market is segmented into automotive, construction, consumer goods, electrical & electronics, packaging, and others. According to our estimates, currently, the automotive segment captures the majority of the market share, due to the rising demand for lightweight materials that improve fuel efficiency and lower emissions in vehicles.
On the other hand, the packaging segment is anticipated to grow at a higher CAGR during the forecast period. This growth can be attributed to the growing focus on flexible packaging options, spurred by consumer preferences for both convenience and sustainability.
Based on type of purity, the global propylene market is segmented into purity 99%, purity 99.5% and others. According to our estimates, currently, the purity 99% segment captures the majority of the market share. This can be attributed to its widespread use in various industrial applications, especially in the manufacturing of polypropylene and other polymers, where high purity is essential for achieving the desired characteristics and performance specifications.
Conversely, the 99.5% segment is expected to grow at a higher compound annual growth rate (CAGR) during the forecast period. This increase can be linked to the significant demand for this grade in sectors that require strict chemical standards, such as pharmaceuticals and specialty chemicals, where even minor impurities can greatly affect product quality and effectiveness.
Based on type of production process technology, the global propylene market is segmented into on-purpose, refinery, and steam cracking. According to our estimates, currently, the steam cracking segment captures the majority of the market share, due to its capability to generate various products simultaneously, such as propylene, ethylene, and other gases.
On the other hand, the on-purpose segment is anticipated to grow at a higher CAGR during the forecast period. Techniques such as PDH in the on-purpose category are gaining prominence as they enable the cost-effective production of propylene and can be seamlessly integrated into current facilities. As businesses seek methods to boost output while becoming more environmentally sustainable, on-purpose production techniques are expected to experience considerable expansion during the forecast period.
Based on areas of application, the global propylene market is segmented into fine chemicals, organic chemical raw materials, synthetic resins and others. According to our estimates, currently, the synthetic resins segment captures the majority of the market share. This is largely due to its significant role in the production of polypropylene (PP) and other materials based on polymers. Synthetic resins are essential in a variety of industries, such as automotive, construction, and packaging, where they are appreciated for their durability, flexibility, and chemical resistance.
On the other hand, the fine chemicals segment is anticipated to grow at a higher CAGR during the forecast period, owing to the rising demand for specialty chemicals utilized in pharmaceuticals, agrochemicals, and personal care items.
Based on company size, the global propylene market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprise segment captures the majority of the market share.
On the other hand, the small and medium enterprises are anticipated to grow at a higher CAGR during the forecast period. This can be attributed to their flexibility, innovation, targeting of niche markets, and their capability to adapt to evolving customer needs and market dynamics.
Based on geographical regions, the propylene market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, Asia captures the majority share of the market. This increase can be attributed to the growing applications of propylene in the packaging and automotive sectors.
Propylene Market: Research Coverage
The report on the propylene market features insights on various sections, including:
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