India Propylene Market Size, Share to Grow at a CAGR of 6.01% by FY2035 | ChemAnalyst

India Propylene Market Size, Share to Grow at a CAGR of 6.01% by FY2035 | ChemAnalyst

According to ChemAnalyst report, “India Propylene Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2035”, The Indian India Propylene Market is likely to reach around 13 million tonnes by FY2035, at a CAGR of 6.01% during the forecasted period. The end-use industries like Polypropylene, Isopropanol, Acrylonitrile, and Oxo alcohol are anticipated to grow the India Propylene Market in the upcoming times. ​

Propylene is a colourless and combustible gas with chemical formula C3H6. Propylene, which  also known as propene, is derived from petroleum. Commercially, propylene is made by thermally or catalytically cracking hydrocarbons. Additionally, propane can be catalytically dehydrated to produce propylene (C3H8). It is widely utilised in the production of epoxies, resins, fibres, and other chemical products. Primarily, propylene is used to make polypropylene polymers for injection moulding, fibres, and cumene (used in phenol production). Additionally, isopropanol, acrylic acid, oxo alcohols, and propylene oxide are all made from propylene. Polypropylene, a significant member of the polyolefin resin family, is moulded or extruded into a wide variety of plastic goods and parts. Propylene oxide has various application such as for manufacturing furnishings, automotive components, boats and other watercraft, appliances, and resins.

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Polypropylene displays properties like hardness, elasticity, low weight, and heat resistance and find application in various industries such as automobile components, flexible food packaging, upholstery, camping goods, etc. Polypropylene is also frequently utilized in the automotive sector, including for batteries casings, tray and beverage holders, bumpers, interior details, and door mouldings. The need for polypropylene will most likely increase along with the demand for automobiles, rising per capita income, and nation-wide modernization, which is anticipated to lead to the increased consumption of propylene.

The India Propylene Market is segmented based on end-use, sales channel, and region. Based on the end-uses, the India Propylene Market is segregated into Polypropylene, Isopropanol, Acrylonitrile, Oxo alcohol, and Others. Among these industries, the Polypropylene industry is dominating the Propylene market. In FY2022, this industry consumed 90% of the Propylene market. With the food and beverage industry's growing need for flexible packaging made of polypropylene films, the propylene industry is anticipated to further expand in the forecast period.

Indian Propylene market is segregated into four regions based on regional consumption: West, South, North, and South. West India has been leading among these regions during the years FY2015- FY2020 due to the location of most Propylene-consuming sites in this area, with Gujarat being the prominent consumer. To meet the nation’s demand of propylene, India Oil Corporation Limited (IOCL) is planning to construct up a new manufacturing line in Gujarat with a capacity of about 500 KTPA. This line is expected to be operational by FY2025. In Vadinar, Gujarat, a propylene recovery unit is anticipated to be established by a new market player, Nayara Energy Limited.

 “India Propylene Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2035” Key players in the Propylene market in India are Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, Reliance Industries Limited, Haldia Petrochemicals Limited, HPCL-Mittal Energy Limited, ONGC Petro additions Limited, and Others.

“The rapidly increasing demand for propylene to manufacture industrially significant polymers such as polypropylene which is employed by various industries is expected to boost the India Propylene Market in the forecast period until FY2035. Due to the exceptional properties of propylene such as hardness, elasticity, low weight, and heat resistance and finds application in various industries such as automobile, food packaging, upholstery, and others. West India is the major consumer of propylene due to the location of plenty of polypropylene manufacturers located in this region. Owing to all these applications of propylene, a rise in its demand is projected to drive its market growth through the forecast period and offer various openings for manufacturers to expand their capacities to fill the demand and supply gap in future in the nation in the forecast period.”Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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