The global Propylene market is estimated to touch US$92.06 bln by the year 2017, growing consistently over the years with a sustained CAGR of 3.7%. Some of the major drivers of this industry are believed to be the ever-increasing demand from automotive and packaging industrial sectors, apart from the expansions of some of the key vendors of global propylene markets. Polyethelene is gradually being replaced by polypropylene in certain applications and this has led to the expansion of polypropylene. Petroleum hydrocarbons are cracked which releases gaseous state of hydrocarbon which is then utilized in the process of organic synthesis and is also known as ‘propen’. The world propylene market is undergoing a transition in numerous portions of the globe, particularly in the feedstock area. The utilization of such advanced technologies have been observed in North America and also the APAC or Asia-Pacific regions. This market is also existent in Middle East, Europe and African nations.
As per Research on Global Markets, it is expected that the supply of propylene from steam crackers would diminish in North America in the following years as they are replaced by reasonably-priced NGLs or ‘natural gas liquids’ feedstock obtained from shale gas. The exorbitant price of crude oil is also adversely impacting the usage of naphtha in Europe and China. Therefore in order to cope with this issue associated to feedstock scenario, several producers are employing ‘on-purpose’ propylene technologies which are capable of releasing generous quantities of propylene with the aid of other kinds of feedstocks such as coal and NGL.
29-May-14 
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