Chemical Industry Updates

  Propylene forms an essential starting material for the manufacturing of various synthetic resins and fibers which are extensively used across diverse end-use industries. Propylene is used in the production of polypropylene which finds widespread usage in packaging films, containers, laboratory equipment, consumer products and automobile interiors among others due to attributes such as high chemical resistance, durability and lightweight. With mounting demand for lightweight and durable materials from automotive and construction industries, production of polypropylene is experiencing considerable growth. The global propylene market is estimated to be valued at US$ 175 Billion in 2023 and is expected to exhibit a CAGR of 5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The demand for propylene  is witnessing significant rise mainly attributable to growing application of polypropylene in the automotive secto

  Propylene forms an essential starting material for the manufacturing of various synthetic resins and fibers which are extensively used across diverse end-use industries. Propylene is used in the production of polypropylene which finds widespread usage in packaging films, containers, laboratory equipment, consumer products and automobile interiors among others due to attributes such as high chemical resistance, durability and lightweight. With mounting demand for lightweight and durable materials from automotive and construction industries, production of polypropylene is experiencing considerable growth. The global propylene market is estimated to be valued at US$ 175 Billion in 2023 and is expected to exhibit a CAGR of 5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The demand for propylene is witnessing significant rise mainly attributable to growing application of polypropylene in the automotive sect