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Growth in the automobile industry are expected to drive innovation in propylene manufacturing, thus driving the market during the forecast period.

The global propylene market is expected to grow from $92.81 billion in 2021 to $102.62 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The global propylene market size is expected to grow to $107.99 billion in 2026 at a CAGR of 1.3%.

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Global Propylene Market Segments Include:

• By Derivatives: Polypropylene, Propylene oxide, Cumene, Acrylonitrile, Acrylic acid & Acrylates, Alcohols, Other Derivatives
• By Application: Organic Chemical Raw Materials, Synthetic Resins, Fine Chemicals, Other Applications
• By End User Industry: Automotive, Construction, Packaging, Textile, Other End-Use Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global propylene market in 2021.

Major Market Players in the propylene market include AGC Chemicals, Archer Daniels Midland Company, Asahi Kasei Corporation, BASF SE, Chevron Phillips Chemical Company.

Petrochemical companies are adopting on-purpose propylene production technologies to produce propylene as a sole product but not as an alternate or co-product. On-purpose propylene technology refers to a modified version of the traditional fluid catalytic cracking unit which increases propylene yield by 20% more than the actual output. Traditional sources for propylene, which include steam crackers and oil refineries, yield fewer propylene as a derivative or co-product due to a shift in feedstocks from naphtha to ethane. To meet the increased demand for propylene, petrochemical companies are investing in developing on-purpose technologies to accelerate the shortfall in propylene production. Major on-purpose technologies include propane dehydrogenation, methanol-to-olefins/methanol-to-propylene (MTO/MTP), high-severity fluidized catalytic cracking (HS-FCC), coal-to-olefins/coal-to-propylene (CTO/CTP), and gas-to-olefins (GTO). For instance, major companies adopting this technology include BASF, Dow Chemical, ExxonMobil Chemical, and Sidi Kerir Petrochemicals Co (SIDPEC).

The Propylene Global Market Report 2023  provides a propylene market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The propylene market forecast analyzes propylene market size, propylene market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Propylene is a basic versatile chemical as ethylene used in the manufacture of common household items. Propylene is a component of the addition polymer poly (propane), and it is also used in the production of epoxy propane and propanol.

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