As data from analysis of the global Propylene market suggests, this industrial segment is estimated to touch US $92.06 billion by the year 2017, growing consistently over the years with a sustained CAGR of 3.7%.
Some of the major drivers of this industry is believed to be the ever-increasing demand from automotive and packaging industrial sectors, apart from the expansions of some of the key vendors of global propylene markets. Polyethelene is gradually being replaced by polypropylene in certain applications and this has led to the expansion of polypropylene. Petroleum hydrocarbons are cracked which releases gaseous state of hydrocarbon which is then utilized in the process of organic synthesis and is also known as ‘propen’.
Key Global Areas of Propylene Market
The world propylene market is undergoing a transition in numerous portions of the globe, particularly in the feedstock area. The utilization of such advanced technologies have been observed in North America and also the APAC or Asia-Pacific regions. This market is also existent in Middle East, Europe and African nations.
Key Vendors of Global Propylene Market
Some of the key vendors of this market are Exxon Mobil Corporation, Reliance Industries Limited, Lyondell Basell Industries and Total SA.
Overall Market Outlook
It is expected that the supply of propylene from steam crackers would diminish in North America in the following years as they are replaced by reasonably-priced NGLs or ‘natural gas liquids’ feedstock obtained from shale gas. The exorbitant price of crude oil is also adversely impacting the usage of naphtha in Europe and China. Therefore in order to cope with this issue associated to feedstock scenario, several producers are employing ‘on-purpose’ propylene technologies which are capable of releasing generous quantities of propylene with the aid of other kinds of feedstocks such as coal and NGL.
For further insights,
Visit: Global Propylene Industry - On-Purpose Technologies to Gain Prominence
About Research on Global Markets
Research on Global Markets is a leading source for market research on various sectors globally, offering premium research content from worldwide publishers of market research reports. Our database hosts premium market research content developed by global publishers. It offers premium industry research reports, company profiles and country briefs. We have a dedicated team of research professionals who can facilitate, in an unbiased manner, the process of identifying appropriate market research reports that are targeted to fulfill all your information-related requirements.
For more details on the content of each report and ordering information please contact:
Email: customerservice@researchonglobalmarkets.com
US: +1 800 986 6819
UK: +44 203 514 2363
India: +91 22 4098 7600
SOURCE: Researchonglobalmarkets.com
Blog: blog.researchonglobalmarkets.com
Related Video:
No comments:
Post a Comment