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Friday, October 28, 2022

Global Cracking Catalysts For Propylene Market Likely To Grow At A CAGR Of 5% By 2027

The ‘Global Cracking Catalysts for Propylene Market Size, Share, Trend, Growth, Analysis, Report and Forecast 2022-2027’, by Expert Market Research gives an extensive outlook of the global cracking catalysts for propylene market, assessing the market on the basis of its segments like type, application, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analyzes the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

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Cracking Catalysts for Propylene Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2022-2027)

• Forecast CAGR (2022-2027): 5%

Report AttributeDetails
Historical Period2017-2021
Forecast Period2022-2027
Base Year2021
Growth Rate CAGR5%
Major PlayersBASF SE, Albemarle Corporation, Sinopec RIPP, Clariant, Royal Dutch Shell Plc and Others

Asia-Pacific region is expected to grow significantly during the forecast period owing to the increasing demand of propylene for polypropylene production. The increase in feedstock naphtha is expected to further propel the growth of the cracking catalyst in the propylene market. The increased refining activity along with the developed end-use industry in the region has increased the demand for liquid catalytic cracking catalysts.

Petroleum-based products are expected to be in high demand in the region due to their wide availability and lower prices compared to bio-based products. Low labor costs and abundant availability of raw materials will shift the manufacturing base from western countries to the Asia-Pacific region, increasing the demand for fluid catalytic cracking in this region.

The expansion of the North American market is expected to be driven by the increasing demand for fluid catalytic cracking products. Increased demand for steam cracking in propylene production is associated with expansion in Europe. Latin America, the Middle East, and Africa is expected to witness significant growth during the forecast period 2022-2027 owing to the increasing use of polypropylene in packaging.

Cracking Catalysts for Propylene Industry Definition and Major Segments

As a primary construction material, propylene is a colorless, flammable gas obtained from steam cracking, ethane and liquid feedstocks, and naphtha reforming. To produce propylene, long-chain hydrocarbons are broken down into simpler molecules, ethylene, and propylene, by breaking carbon-carbon bonds. Pressure and temperature play key roles in this process. In order to improve cracking, propylene cracking catalysts are used.

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Based on type, the market is divided into:

• Others

Based on application, the market is divided into:

• Steam Cracking
• Fluid Catalytic Cracking

On the basis of region, the Global Cracking Catalysts for Propylene Market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East andAfrica

Cracking Catalysts for Propylene Market Trends

In the coming years, propylene-cracking catalysts will grow rapidly. Polypropylene, a thermoplastic polymer used in numerous applications, has experienced strong growth due to increased product demand. Chemical resistance, elongation, and surface resistance are among the many physical and chemical properties of polypropylene.

Their properties make them useful in a variety of industries, such as automotive, packaging, medical, construction, electrical, and electronic applications, and they increase the demand for propylene cracking catalysts. Developing countries like India and China are experiencing rapid urbanization, which drives the chemical industry’s growth. Consequently, petroleum products are more in demand, and propylene production increases as a result.

In addition to acetone and methyl methacrylate, propylene is also used in the manufacture of acrylic acid and acrylonitrile. There will be many applications that will significantly contribute to the growth of the market in the near future. The rise of international trade and globalization have forced many industries to make the most of diminishing resources.

In order to meet growing transportation and industrial demand, fuel consumption will increase globally. These factors are expected to propel the growth of the global cracking catalysts for propylene market in the forecast period.

Key Market Players

The major players in the Global Cracking Catalysts for Propylene Market report include:

  • Albemarle Corporation
  • Sinopec RIPP
  • Clariant
  • Royal Dutch Shell Plc
  • Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skillful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Media Contact:

Company Name: Claight Corporation
Contact Person: Eliana Grace, Business Consultant
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