What is the global market of propylene and who are its producers?
The demand for propylene is highly driven by various industries such as automotive, construction, and packaging industries. This has resulted in the global propylene market to reach a value of around $83.7 billion in 2019. The increase in the production of automobiles has also driven the demand for propylene, as it is used in manufacturing many parts in automobiles such as battery cases and trays, bumpers, interior trim, instrumental panels, fender liners, door trims, etc.
In 2019, the Asia Pacific region was the largest manufacturer of propylene followed by Europe and North America. Other than the Asia Pacific, other regions contributing to the global propylene market are Western Europe, South America and Middle East & Africa. These regions include countries like Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. Among these countries, China is known to be the largest producer of propylene.
A few of the key players in the global propylene market are AGC Chemicals, Archer Daniels Midland Company, Asahi Kasei Corporation, BASF SE, Chevron Phillips Chemical Company, China National Petroleum Corp. (CNPC), China Petrochemical Corporation, etc.