Propylene, a versatile chemical compound, plays a pivotal role in various industries. As a key building block in the production of plastics, it contributes to the manufacturing of essential products like packaging materials and textiles. Additionally, propylene serves as a crucial component in the creation of antifreeze, lubricants, and even pharmaceuticals. Its adaptability and widespread use highlight its significance in modern industrial processes.
As per the recent research conducted by a leading market insights provider FMI, the global Propylene market size will expand at a healthy CAGR over the forecast period between 2023 and 2033. The aim of this study is to analyze key market dynamics affecting the sales of Propylene and provide vital insights to business owners to get benefit from forthcoming opportunities.
The report conducts an in-depth analysis of factors affecting the change in consumer behavior and purchasing patterns. It highlights the key growth prospects for demand and sales across seven major regions. It also provides refined sales projections and assists market players in identifying the remunerative segments among the verticals.
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Upsurge in the Trend of Green Chemistry to Facilitate the Growth in the Propylene Market
Governments of several countries are emphasizing implementing regulations on chemicals that are hazardous for the environment, owing to the rising concerns regarding environmental sustainability. Hence, growing trend of green chemistry or sustainable chemistry is being witnessed across the chemical industry.
Citing this trend, chemical manufacturers are reviewing their business strategies and shifting their focus towards adopting eco-friendly practices for the production of sustainable alternatives or less toxic chemicals. This is expected to favor the growth in the Propylene market.
Key Propylene Market Takeaways and Projections
- The US will lead the North America Propylene market, projecting the fastest growth in the region between forecast period
- Germany will collectively hold the largest share in the Europe market over the assessment period.
- India will emerge as a highly remunerative market in South Asia, contributing significant revenue share in the region through forecast period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- In terms of segments, will hold the lion’s share in the market, expanding at a robust CAGR during the next ten years.
Competitive Landscape Analysis
The survey offers insights into critical trends and opportunities across technology industry and studies their impact on demand-supply forces in the Propylene market. It also profiles a list of prominent companies including
- BASF SE
- The Dow Chemical Company
- ExxonMobil Corporation
- LyondellBasell Industries N.V.
- Saudi Basic Industries Corp. (SABIC)
- BP Plc.
- Sinopec Corp.
- Total S.A.
- Valero Energy Corp.
- Royal Dutch Shell PLC
- Reliance Industries Ltd.
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Key Segments Profiled in the Propylene Industry Survey
On the basis of derivatives, the propylene market is segmented into:
- Propylene Oxide
- Polypropylene
- Acrylonitrile
- Acrylic Acid
- Cumene/Phenol
- Oligomers
- Alcohols
- Acrylates
- Others
On the basis of end-use industry, the propylene market is segmented into:
- Automotive
- Construction
- Consumer Goods
- Electronics
- Packaging
- Textiles
- Others
Why Buy FMI’s Report?
- Extensive analysis on high growth niche markets across major regions
- Detailed assessment on key segments and sub-segments
- Recent and upcoming strategies tracked of manufacturers for the Propylene market
- Reliable information on new product launches, technological advancements, and more
- Valuable insights on the impact of regulatory framework on the global Propylene market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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