PUBLISHER: The Business Research Company | PRODUCT CODE: 1209965
PUBLISHER: The Business Research Company | PRODUCT CODE: 1209965
“Propylene-Petrochemicals Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on propylene-petrochemicals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for propylene-petrochemicals ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The propylene-petrochemicals market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: AGC Chemicals; Archer Daniels Midland Company; Asahi Kasei Corporation; BASF SE; Chevron Phillips Chemical Company
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Major players in the propylene-petrochemicals market are: AGC Chemicals, Archer Daniels Midland Company, Asahi Kasei Corporation, BASF SE, Chevron Phillips Chemical Company, China National Petroleum Corp (CNPC), China Petrochemical Corporation, Dangote Industries Ltd, Eni SpA, Enterprise Products Partners L.P, and Exxon Mobil Corporation.
The global propylene-petrochemicals market will grow from $104.04 billion in 2022 to $107.4 billion in 2023 at a compound annual growth rate (CAGR) of 3.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The propylene-petrochemicals market is expected to grow from $121.74 billion in 2027 at a CAGR of 3.2%.
The propylene petrochemical market consists of the sales of propylene petrochemicals used in the production of acrylics, rubbing alcohol, epoxy glue, and carpets. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Propylene petrochemical is a basic versatile chemical as ethylene used in the manufacture of common household items. Propylene is a component of the addition polymer poly (propane), and it is also used in the production of epoxy propane and propanol.
Asia Pacific was the largest region in the propylene-petrochemical market in 2022. Middle East was the second-largest region in the propylene-petrochemicals market. The regions covered in the propylene-petrochemical report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of propylene petrochemicals are homopolymers and copolymers. A homopolymer is a polymer like polyethylene consisting of identical monomer units. The various applications are injection molding, fiber and raffia, film and sheet, and blow molding. The end-user industries are automotive, construction, packaging, textiles, and other end-user industries.
The propylene market is expected to benefit from growth in the automobile industry during the forecast period. Polypropylene is a polymer produced from the propylene monomer which is used in the automobile industry. Large-scale production of automobiles is leading to an increase in demand for polypropylene products, which are used in the manufacturing of battery cases and trays, bumpers, interior trim, instrument panels, fender liners, door trims, and other components. For instance, according to an estimation by Goldman Sachs, a US-based investment banking company, the global sales of new cars in emerging markets is expected to increase from 68 million in 2020 to 78 million by 2025. Thus, increased use of plastics in automobiles is expected to increase the demand for propylene during the forecast period.
Stringent safety regulations associated with the manufacture and transportation of propylene were a significant market restraint. Propylene is highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Propylene suppliers should invest in equipment, technologies, and processes to limit the toxic levels and chemical concentrations. These regulations increased the operating costs of companies in the propylene industry, thus limiting the scope for investments relating to the launch of new products and expansion into new markets, thereby affecting the market growth.
Petrochemical companies are adopting on-purpose propylene production technologies to produce propylene as a sole product but not as an alternate or co-product. On-purpose propylene technology refers to a modified version of the traditional fluid catalytic cracking unit which increases propylene yield by 20% more than the actual output. Traditional sources for propylene, which include steam crackers and oil refineries, yield fewer propylene as a derivative or co-product due to a shift in feedstocks from naphtha to ethane. To meet the increased demand for propylene, petrochemical companies are investing in developing on-purpose technologies to accelerate the shortfall in propylene production. Major on-purpose technologies include propane dehydrogenation, methanol-to-olefins/methanol-to-propylene (MTO/MTP), high-severity fluidized catalytic cracking (HS-FCC), coal-to-olefins/coal-to-propylene (CTO/CTP), and gas-to-olefins (GTO). For Instance, major companies adopting this technology include, BASF, Dow Chemical, ExxonMobil Chemical, and Sidi Kerir Petrochemicals Co (SIDPEC).
In January 2022, Invista, a US-based fiber, resin and intermediates company acquired propylene business of Flint Hills Resources for an undisclosed amount. The acquisition includes chemical facilities in Houston and Longview, Texas, ownership of pipelines that supply facilities, and support employees. The deal added propylene portfolio to Invista and enables future growth. Flint Hills Resources is an American refining company.
The countries covered in the propylene-petrochemicals market are: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The propylene-petrochemical market research report is one of a series of new reports from The Business Research Company that provides propylene-petrochemical market statistics, including propylene-petrochemical industry global market size, regional shares, competitors with a propylene-petrochemical market share, detailed propylene-petrochemical market segments, market trends and opportunities, and any further data you may need to thrive in the propylene-petrochemical industry. This propylene-petrochemical market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.