Global propylene market is estimated to be valued at US$ 3.9 Billion in 2021, according to the Global Propylene Market Report, by Derivative (Polypropylene, Propylene oxide, Cumene, Acrylonitrile, Alcohols, Acrylates, and Others), by End-use Industry (Automotive, Construction, Textiles, Packaging, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global propylene market was valued at US$ 3.9 Billion in 2021. Propylene market is expected to register a CAGR of 5.9% over the forecast period (2022–2030) to reach US$ 6.5 Billion by 2030. Key factors such as increasing demand for propylene in the packaging industry, growth of automotive industry across the world, and rise in sales of passenger & commercial vehicles are driving the growth of the global propylene market. Increasing concern over environmental impact and disposal of plastics may restrain global propylene market growth. For instance, in May 2018, the European Union proposed to ban plastic products such as cotton buds, straws, stirs, and balloon sticks in order to reduce the pollution when the alternatives are easily available.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 50 market data tables* and 40 figures* on "Global Propylene Market” - Forecast to 2030.
Key Trends and Analysis of the Global Propylene Market:
Among derivatives, polypropylene segment is projected to gain major traction in the market over other derivatives throughout the forecast period, owing to increasing demand from end-use industries.
Among end-use industries, automotive and packaging segments held the dominant position in the global propylene market in 2021. The segment is projected to retain its dominance over the forecast period due to substantial growth of automotive and packaging industry across the world.
Key Takeaways of the Global Propylene Market: