Piperylene MarketSize and Trends
Piperylene is used as a monomer in manufacturing adhesives, resins, and plastics, attributing to properties such as lightweight, toughness, high mechanical strength, and resistance towards radiation and corrosion. Increasing use of lightweight components in aerospace and automotive industry is expected to fuel the growth of the piperylene market over the forecast period.
Market Outlook
- Piperylene-based products are used in manufacturing parcel tapes, diaper fastenings, envelops, building & construction materials, road markings, and others. The upsurge in end-use industries such as automotive, manufacturing, and aerospace is expected to be a major factor propelling the growth of piperylene market. According to a report published by Just-Auto in August 2018, the global automotive industry is growing continuously, wherein global sales for light vehicles increased by 3.7% in 2018 in comparison with the previous year.
- Asia Pacific is projected to witness the highest revenue share in the global piperylene market over the forecast period, owing to growing automotive and manufacturing industries in the region. According to India Brand Equity Foundation (IBEF) report published in October 2018, Automotive industry in India was 4th largest in the world accounting for 4.2 billion sales (excluding two-wheelers) in 2017, recording an increase of 9.5% in comparison with 2016.
- According to a report published by the United Nations Industrial Development Organization (UNIDO) in March 2018, worldwide manufacturing output of piperylene retained a growth of 4.2% in the first quarter of 2018 and China, the world’s largest pipeline manufacturer, continued a growth of 6.3% independently. This scenario is projected to fuel demand for piperylene from manufacturing industry worldwide, largely driven by emerging economies such as China and India.
Market- Trends
- Piperylene is gaining popularity rapidly, driven by an increasing number of applications and improved properties, including better adhesion and higher mechanical strength. The usage span across various industries such as automotive and aerospace, leading to a steady rise in demand over the years.
