The global propylene Market demand was estimated around 100 million metric tons in 2017, and is expected to reach 140 million metric tons by 2025, at an CAGR of 3.8% over the forecast period (2018 – 2025), according to a 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) published by Coherent Market Insights. Key factors such as increasing demand for propylene in the packaging industry, the growth of automotive industry across the world, along with the rise in sales of passenger & commercial vehicles are fueling the growth of the global propylene market. According to India Brand Equity Foundation study, domestic sales of passenger vehicles in India is expected to increase at a CAGR of 12.87% from 2016 to 2026.
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.
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Key Trends and Analysis of the Propylene Market:
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