New York, NY -- (SBWire) -- 03/08/2021 --The Global Propylene Market is forecast to reach USD 137.02 Billion by 2027, according to a new report by Reports and Data. Propylene, also known as methyl ethylene, is an organic compound on which the plastic and chemical sector is highly dependent. It has a wide range of applications, which contributes to the growth of the market. It is widely used in industrial & consumer products. Methyl Ethylene witnesses high demand from the automotive sector wherein polypropylene (PP), one of its major derivate and its alloys, is widely used over other types of plastics. It is also used in building insulation.
Top Players Covered in the Report Include:
ExxonMobil
Dow Chemicals
LyondellBasell Industries
INEOS
BASF
LyondellBasell Industries
Sumitomo Chemical
SABIC
Chevron Phillips
Formosa Plastics Group.
Others
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The COVID-19 Impact: The COVID-19 pandemic is acting as an opportunity for growth of the sector. Plastics Industry Association, in its effort of reducing the outbreak, has requested to endorse the concept of single-use plastics, which can be considered as the safest option during the pandemic. It paves the path for polypropylene bags that are generally not recyclable and on carrying goods like dairy & meat products may leaks. It results in reducing the scope for reuse and further spreading the virus.
In regards to region, North America can be seen to occupy a considerable share of the sector. The market share held by the region is attributed to the well-established automotive industry and continuous expansion of the packaging industry that is supporting the growth of the market in this region. However, due to the global COVID-19 epidemic, the demand for methyl ethylene from the automotive sector may be negatively impacted. However, the fact that this region has a high number of COVID-19 positive cases just U.S. having 245,442 cases as of April 3, would result in increasing demand for packaging products for the medical and other associated services that would support the growth of the market in this region.
Further key findings from the report suggest:
In context to Derivatives, the Polypropylene segment held more than 50.0% of the market in 2019. The market share held by the Polypropylene segment is attributed to its wide range of applications ranging from manufacturing containers, packaging, among others. Due to the COVID-19 pandemic, the emphasis on using single-use plastics and focus on developing a mask with a replaceable meltblown polypropylene N95-level filter would also contribute to the market share held by the Polypropylene segment.
In regards to End-user, the Construction segment is projected to witness a considerable growth rate of 6.9% during the forecast period. Continuous emphasis on infrastructural development across the globe, like King Abdulaziz Airport Expansion and emergency constructions like Leishenshan Hospital in China, to tackle the COVID-19 outbreak wherein it is used in paints, coatings and rigid foams for building insulation contributes to the growth rate witnessed by this segment.
Initiatives taken by market players like Dow, which focused on low capital intensity, high-return incremental growth investments, announced on 20 August 2019, that the company will retrofit proprietary (FCDh) technology with Louisiana cracker to produce on-purpose propylene. Such initiatives by market players would support the market growth.
The presence of well-established automotive sector and growing e-commerce industry would support the growth of the sector in Europe. The high number of coronavirus positive cases in European regions like Italy, which had 115,242 cases as of April 3, would also result in its increasing demand for packaging & various other applications for medical uses.
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For the purpose of this report, Reports and Data have segmented the global Propylene market according to Grade, Derivative, End-user, and Region:
Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Polymer grade
Refinery grade
Chemical grade
Derivative Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Polypropylene
Cumene
Propylene oxide
Alcohols
Acrylonitrile
Acrylates
Others
End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Packaging
Automotive
Textiles
Construction
Others
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
North America
U.S
Europe
U.K
France
Asia Pacific
China
India
Japan
MEA
Latin America
Brazil
Key Questions Answered:
What are the key strategies used by prominent players and service providers that are predicted to impact the growth of the Propylene Solutions market?
What are the resources that exist in respective regions that attract the major players in the Propylene Solutions market?
What are the latest technologies that are being used by the market?
How are the recent trends affecting the growth in the global Propylene Solutions market?
What will be the estimated value of the Propylene Solutions market in the forecast period?
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In conclusion, the Propylene Solutions Market report is a reliable source for accessing the Market data that will exponentially accelerate your business. The report provides the principal locale, economic scenarios with the item value, benefit, supply, limit, generation, request, Market development rate, and figure and so on. Besides, the report presents a new task SWOT analysis, speculation attainability investigation, and venture return investigation.
Table of contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Propylene Market Segmentation & Impact Analysis
4.1. Propylene Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. The increasing demand for Propylene in end-user industries like the construction sector
4.2.2.2. The growth of the e-commerce and logistics industry, resulting in expansion of the packaging sector
4.2.2.3. Increasing demand for N-95 masks
4.2.3. Market restraints analysis
4.2.3.1. The fluctuating price of raw materials
4.2.3.2. Reduced demand from the automotive industry due to COVID-19 pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price Trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Chapter 5. Propylene Market By Grade Insights & Trends
Continued…..
Propylene Market to Witness Astonishing Growth by 2027 : ExxonMobil, Dow Chemicals, LyondellBasell Industries, INEOS, Etc
Propylene Market Size – USD 96.04 Billion in 2019, Market Growth - CAGR of 5.9%, Market Trends – The increasing demand for N-95 masks due to COVID-19 outbreak