Propylene Market to Grow at CAGR 6% till 2025
Rising
demand for propylene and its derivatives from automotive and packaging sectors
to drive global propylene market through 2025
According to TechSci Research
report, “Global Propylene Market By Application, By Region, Competition Forecast and Opportunities, 2011
- 2025’’, global propylene market is forecast to
grow at a CAGR of around 6% during 2016-2025, on account of increasing industrialization
and commercialization, and growing emphasis on development of fuel-efficient cars by government. Global
automobile production stood at 79.88 million in 2011 and reached 90.78 million
by 2015. Government associations
across the world have laid down strict regulations regarding greenhouse gases
emissions from vehicles in order to control pollution. Additionally, increasing
disposable income levels of people in BRIC nations is propelling growth in
global propylene market. Some of the major propylene manufacturers includes Sinopec, CNPC, ExxonMobil, LyondellBasell and Royal
Dutch Shell.
Browse 6 market data Tables and 73 Figures
spread through 144 Pages and an in-depth TOC on "Global Propylene Market"
https://www.techsciresearch.com/report/global-propylene-market-by-application-polypropylene-acrylonitrile-acrylic-acid-propylene-oxide-cumene-others-by-region-north-america-asia-pacific-europe-south-america-and-middle-east-africa-competition-forecast-and-opportunities-2011-2025/798.html
Additionally, propylene
is also witnessing huge demand from the global packaging industry on account of
increasing demand for high quality and safe packaging material from the food
& beverage, chemicals and pharmaceutical sectors. Rising demand for
propylene derivatives such as acrylonitrile (ACN) and acrylic acid can be
attributed to increasing demand from the paints and coatings industry. Global paints
& coatings industry stood at USD122.52 billion in 2011 and is forecast to
reach USD168.55 billion by 2017, on account of increasing industrialization and
demand for low VOC emitting, water based decorative paints from the commercial
and residential buildings.
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“New product
developments are projected to boost growth in global propylene market during
2016-2021. Additionally, increasing awareness about environment protection and
stringent government regulations has led to the launch of new refrigerant grade
propylene, that serves as an excellent alternative against harmful fluorocarbon
refrigerants or synthetic refrigerants. Some other companies are also focusing
on production of bio-based propylene, which is used as a raw material in manufacturing
bio-based polypropylene and other derivatives. Development of innovative
propylene derivatives is anticipated to augur well for the global propylene
market in the coming years.”,
said Mr. Rishi Srivastava, Research Manager with TechSci Research, a research
based global management consulting firm.
“Global
Propylene Market By Application, By Region, Competition Forecast and
Opportunities, 2011 - 2025” has evaluated the future growth potential of global
propylene market and provides statistics and information on market size, share,
structure, forecast and future growth potential. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes emerging trends
along with essential drivers, challenges and opportunities in global propylene
market.
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