Propylene Market By Derivatives (Polypropylene, Propylene oxide, Cumene, Acrylonitrile, Alcohols, Acrylic acid & Acrylates, and Others), By End-Use Industry (Automotive, Construction, Textile, Packaging, and Others) and Region - Trends, Analysis and Forecast till 2030

Propylene Market accounted for USD 3.67 Billion in 2020 and is estimated to be USD 5.66 Billion by 2030 and is anticipated to register a CAGR of 4.50%.

Propylene is considered an essential building block in petrochemicals. Propylene has a wide array of applications ranging from automotive, textile, and packaging to construction, etc. Major derivatives of propylene include polypropylene and propylene oxide. Propylene with its derivatives is majorly used in packaging and automotive industries across the globe. Propylene is an alkene, which means it has three double-bonded carbon atoms. After ethylene, it is the second most often used petrochemical. Propylene, also known as propene, is a byproduct of oil and natural gas refining.

As a result of splitting bigger hydrocarbons during oil refining, ethylene, propene, and other chemicals are generated. Naphtha cracking, which is meant to produce ethylene and results from refinery cracking producing other products, is a key source of propylene. Propane dehydrogenation produces propylene and hydrogen as a byproduct. The most extensively utilised propylene manufacturing technologies are fluid catalytic cracking splitters and On-Purpose Technology (OPT). Films, fibres, containers, packaging, and caps and closures are only a few of the applications.

Rising demand for polypropylene

Rising demand for polypropylene and its various derivatives from various end-use industries, especially from the automotive industries across the globe is a major factor driving growth of the global market currently. However, problem associated with use of propylene at high temperatures is a major factors hampering growth of the global market. One of the primary factors driving the growth of the propylene market is the increase in demand for propylene from the building industry around the world. The increased use of propylene in various sectors such as packaging, textiles, construction, automotive, and others, as well as the increased demand for polymers made from propylene monomer in the automotive sector, are driving market expansion. The market is also influenced by rising demand for polypropylene goods, which are used in the manufacture of interior trim, instrument panels, door trims, battery boxes and trays, fender liners, bumpers, and other components, as well as the continued expansion of the e-commerce industry. In addition, the propylene market benefits from the expansion of end-user industries, urbanisation and industrialization, and an increase in investment for infrastructure development.

Propylene market has been segmented on the basis of derivatives, end-use industry, and region.

The propylene segment includes polypropylene, propylene oxide, cumene, acrylonitrile, alcohols, acrylic acid & acrylates, and others. Further the global market is segmented by end-use industry, which includes automotive, construction, textile, packaging, and others.

Regional Insights:

On the basis of region, the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market in Asia Pacific is expected to account for major revenue share as compared to that of other regions. This can be attributed to rapid industrialization and rising demand for propylene from various end-use industries in countries in the region. Also, the market in North America is expected to account for second-highest revenue share in the global market, followed by the market in Europe.

Moreover, the market in Asia Pacific is projected to witness significant growth over the forecast period. This is due to growing demand for propylene and propylene derivatives from automotive and construction industries in emerging economies in the region. 

Segments Covered in the Report:

This report forecasts revenue growth at , regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2030. For the purpose of this study, has segmented the Global Propylene Market report based on Derivatives, End User and Region.

Propylene Market, By Region:

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

The key players operating in the propylene market include, China Petroleum & Chemical Corporation, BASF SE, ExxonMobil Corporation, The DOW Chemical Company, LyondellBasell Industries N.V., SABIC, BP Plc., and IRPC Plc.

• China Petroleum & Chemical Corporation
• BASF SE
• ExxonMobil Corporation
• The DOW Chemical Company
• LyondellBasell Industries N.V.
• SABIC, BP Plc.
• IRPC Plc.