Industry News
Propylene market to go beyond $90 billion this year
Source: China Chemical Information Network Date: 2011-03-09
Global demand for propylene will continue to rise over the next few years and its market value is being estimated at more than $90 billion for 2012. Polypropylene remains the most important derivative of propylene, and will account for two-thirds of total demand for propylene. Experts say it will maintain its dominant position up to 2017.
One important factor in the growth of global propylene use is the expansion of production capacity of propylene and its downstream products, in the Middle East and China. Because of the great advances in the petrochemical industry in Middle Eastern countries, the need for propylene products will double by 2014.
At the same time, demand in the Asia-Pacific region will account for 45 percent of the total, with China is becoming the world's largest consumer of propylene. It is expected to overtake the United States this year.
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