The propylene market is estimated to be valued at USD 4.66 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. The propylene market has been witnessing significant growth over the past few years owing to the increasing demand from various end-use industries. Propylene is an organic chemical that finds wide usage as a monomer to produce various petrochemical and plastic products. It is a colorless gas with a faint petroleum-like odor and is produced as a co-product along with ethylene during the refining of crude oil and the steam cracking of natural gas liquids. Rising consumption of polypropylene which utilizes propylene as a raw material in applications such as packaging films, plastic parts for automotive, and consumer durables has been driving the growth of the propylene market. Additionally, increasing penetration of propylene in various derivatives including propylene oxide, cumene, and acrylic acid will continue to support the market expansion in the coming years.

 Market Dynamics:

The key factors spurring the growth of the propylene market include rapid industrialization and infrastructure development activities in emerging economies boosting polypropylene consumption, growing demand for unsaturated polyester resins from construction industry, expansion of petrochemical industry, and increasing polymer applications in various end-use sectors. However, volatility in crude oil prices leading to uncertainties in raw material supply and costs is expected to restrain the market growth. On the other hand, shifting focus towards bio-based propylene production using biomass is likely to present new opportunities for market players over the forecast period.

 Key Features of the Study:

• This report provides in-depth analysis of the global propylene market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global propylene market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include BASF SE, BP Plc., China Petroleum & Chemical Corporation, ExxonMobil Corporation, IRPC Plc., LyondellB, DHALOP CHEMICALS, Vizag Chemical, Borealis AG, Braskem, Daelim Co. Ltd, TotalEnergies, INEOS, SABIC, SIBUR International GmbH, Sumitomo Chemical Co. Ltd, INEOS, Daelim Co. Ltd, and Borealis AG
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global propylene market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global propylene market

Detailed Segmentation-

• By Derivatives:
• • Polypropylene
  • Propylene oxide
  • Cumene
  • Acrylonitrile
  • Alcohols
  • Acrylates
  • Others
• By End-use Industry:
• • Automotive
  • Construction
  • Textiles
  • Packaging
  • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • BASF SE
  • BP Plc.
  • China Petroleum & Chemical Corporation
  • ExxonMobil Corporation
  • IRPC Plc.
  • LyondellB
  • DHALOP CHEMICALS
  • Vizag Chemical
  • Borealis AG
  • Braskem
  • Daelim Co. Ltd
  • TotalEnergies
  • INEOS
  • SABIC
  • SIBUR International GmbH
  • Sumitomo Chemical Co. Ltd
  • INEOS
  • Daelim Co. Ltd
  • Borealis AG