MOL Group Has Announced its Plan of Investing USD1.9 Billion in 2017-2021

Hungary: MOL Group, one of the leading integrated Central & East European oil and gas corporation, based in Hungary, has planned to invest USD 1.9billion until 2021 to develop its petrochemicals business. The company would be focusing on improving the yield of propylene and other propylene derivatives in the coming next five years. MOL Group has been able to secure a prominent position in the global propylene industry due to its extensive product portfolio and wide supply and distribution network. The company is planning to further increase its investment into the development of superior propylene and propylene oxide based polyols, a high-value product applied in the automotive industry, packaging and furniture manufacturing.

TechSci Research depicts that five-year plan for the development of propylene would cater to the demand supply gap in the propylene market of the country. The planned investment would also contribute to the growing demand for propylene and its various derivatives across various end user industries globally.

According to a recent report published by TechSci Research, “Global Propylene Market By Application, By Region, Competition Forecast and Opportunities, 2011 - 2025”, the global propylene market is forecast to grow at a CAGR around 6% during 2016-2025, on account of growing industrialization and rising demand for demand for eco-friendly paints across commercial and residential set ups. Additionally, announcements of various emerging OPT plants for propylene coupled with smooth trading practices between countries is boosting global propylene market. Furthermore, polypropylene is projected to dominate global propylene market, on account of increasing government regulations for reducing greenhouse gas emissions in environment supported by tremendous growth in the production of light commercial vehicles and packaging industries.