Global Propylene Market Expanding Rapidly with German Chemicals Giant BSAF Introducing New fluidic catalytic cracking technology ‘ZEAL’ to deliver more propylene for refiners

 

Propylene (C3H5) is a colorless, odorless liquid fuel gas with a pleasant sweet smell. Although similar in composition to gasoline, it also has a double-bonded molecular structure that gives it an enhanced combustion advantage i.e. it burns faster. Propylene can be obtained through the refinement of crude petroleum at high-pressure industrial levels. However, it can also be created by breaking, cracking, and crystallizing hydrocarbon mixtures at room temperature. In addition, a variety of other methods are available for its production. Propylene has a unique characteristic that makes it particularly useful in many areas where automotive lubrication is concerned. For instance, its properties make it a preferred solvent for the removal of heavy contaminants from petroleum fluids. It is also ideal as a solvent for lubricating the internal components of internal combustion engines.

Increasing demand for commercial vehicles is expected to drive growth of the global propylene market during the forecast period. According to the European Automobile Manufacturers Association, in 2019, over 18 million commercial vehicles were produced across the globe, of which around 19% were manufactured in Europe with China accounting for the largest share. The demand for commercial vehicles is increasing in both developed and emerging economies for transportation goods as well as passengers. Hence, these factors are expected to drive growth of the global propylene market during the forecast period. Furthermore, increasing demand for the propylene packaging industry, as well as rising preference for sustainable products, is expected to boost the global propylene market growth over the forecast period.

However, price volatility of raw materials combined with rising environmental concerns due to the production of propylene is expected to hinder the global propylene market growth over the forecast period. Among regions, North America is expected to witness significant growth in the global propylene market during the forecast period. This is owing to the presence of a well-established automotive and packaging industry in the region. Furthermore, Asia Pacific is expected to register robust growth over the forecast period, owing to rising demand for propylene in China and India.

Key companies operating in the global propylene market are BASF SE, Huntsman International LLC., Dow, Honeywell International Inc., Exxon Mobil Corporation, Manali Petrochemical, LyondellBasell Industries Holdings B.V., Asahi Kasei Corporation, Chevron Phillips Chemical Company, Royal Dutch Shell, China Petrochemical Corporation, and Oleon NV.

For instance, in May 2020, BASF SE introduced ZEAL, a new fluidic catalytic cracking (FCC) additive product designed to deliver more propylene for refiners.


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