Propylene-Petrochemicals Global Market Sees Growth Rate Of 5% Through 2022
14 Oct, 2022
The global propylene-petrochemicals market size is expected to grow from $92.81 billion in 2021 to $97.56 billion in 2022 at a compound annual growth rate (CAGR) of 5.10%. The global propylene-petrochemicals market size is expected to grow to $117.88 billion in 2026 at a CAGR of 4.80%.
What is the Global Propylene-Petrochemicals Market?
The propylene-petrochemical market consists of sales of propylene gas and its related services used in various industry verticals such as automotive, construction, and packaging industries. Propylene is a building block for the addition polymer, poly (propane), and is also used in the manufacturing of epoxy propane and propanol.
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What drives the Global Propylene-Petrochemicals Market?
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, instrumental panels, fender liners, door trims, and other components.
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Global Propylene-Petrochemicals Market Segments
The global propylene-petrochemicals market is segmented:
By Type: Homopolymer, Copolymer
By Application: Injection Molding, Fiber & Raffia, Film & Sheet, Blow Molding
By End User Industry: Automotive, Construction, Packaging, Textile, Other End-Use Industries
By Geography: The regions covered in the propylene-petrochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global propylene-petrochemicals market.
Propylene-Petrochemicals Global Market Report 2022provides market size and growth forecasts for the global propylene-petrochemicals market, global propylene-petrochemicals market share, propylene-petrochemicals market segments and geographies, propylene-petrochemicals market competitive landscape including leading competitors’ revenues, profiles and market shares. The propylene-petrochemicals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Propylene-Petrochemicals Industry Playersinclude in the propylene-petrochemicals market are AGC Chemicals, Archer Daniels Midland Company, Asahi Kasei Corporation, BASF SE, Chevron Phillips Chemical Company. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.