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The global cracking catalysts for propylene market is expected to grow at a CAGR of about 5% in the forecast period of 2024-2032 owing to the rising demand for propylene for the production of polypropylene.
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Due to the increased demand for propylene for the production of polypropylene, the Asia Pacific region is predicted to expand significantly throughout the forecast period. The rising adoption of naphtha in the feedstocks is anticipated to further fuel the growth of the cracking catalysts for propylene market. The rise in refining activity, coupled with a developed end-use industry in the region, has impelled the demand for fluid catalytic cracking catalysts. Petroleum-based products are likely to have increased demand in this region due to their widespread availability and lower pricing when compared to bio-based products. Low labour costs and the presence of abundant raw materials have resulted in a shift in manufacturing base from Western countries to Asia Pacific, which is predicted to augment the fluid catalytic cracking demand in the region.
The market's expansion in North America is expected to be fuelled by the increased product demand in fluid catalytical cracking. The increased need for steam cracking in the manufacturing of propylene is credited for the expansion in Europe. With the growing use of polypropylene in packaging, Latin America, the Middle East, and Africa are expected to experience significant growth in the forecast period of 2024-2032.
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Propylene is a colourless and flammable gas, which is used as a main building block, produced from steam cracking, ethane and liquid feeds, and naphtha reformers. In the production process of propylene, the long-chain hydrocarbons feedstocks are split into simpler molecules or light hydrocarbons namely ethylene and propylene, by breaking carbon-carbon bonds. This process is done in the presence of temperature and pressure. The cracking catalysts for propylene are used to increase the rate of cracking process.
By type, the market includes:
The major applications of the market are:
The regional markets for the cracking catalysts for propylene market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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The global market for cracking catalysts for propylene is likely to observe rapid growth in the forthcoming years. The growth can be attributed to the rising product demand for polypropylene production, a thermoplastic polymer used in various applications. Polypropylene carries many physical and chemical characteristics, such as strong chemical resistance, high tensile strength, and high surface solidity. These characteristics make it useful in several applications, like automobile, packaging, medical, construction, electrical and electronics, among others, thereby augmenting the demand for cracking catalysts for propylene production. Rapid urbanisation in developing countries like India and China is fuelling the growth of the chemical industry. This is leading to a surge in demand for petroleum products, which in turn, is driving the cracking catalysts for propylene industry growth. Additionally, propylene is used to manufacture acetone, methyl methacrylate, acrylic acid, and acrylonitrile. A myriad of applications is expected to significantly drive the market growth in the forthcoming years. Globalisation and rising international trade practices have triggered a number of industries utilising the rapidly diminishing resource. Escalating global fuel consumption to meet rising demand from transportation and industrial sectors is likely to augmenting the market demand.
The report gives a detailed analysis of the following key players in the global cracking catalysts for propylene industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Application |
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Breakup by Region |
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Competitive Landscape |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global cracking catalysts for propylene market is projected to grow at a CAGR of 5% between 2024 and 2032.
The major drivers of the market include the rising adoption of naphtha in the feedstocks, rapid urbanisation, surge in demand for petroleum products, globalisation, rising international trade practices, and escalating global fuel consumption.
Rising product demand for polypropylene production and increasing applications in industries, like automobile, packaging, medical, construction, electrical and electronics, among others, are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different types of cracking catalysts for propylene are CHP, CRP, CIP, and MMC, among others.
The major applications of the market are steam cracking and fluid catalytic cracking.
The major players in the industry are BASF SE, Albemarle Corporation, Sinopec RIPP, Clariant, and Royal Dutch Shell Plc, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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