Cracking Catalysts for Propylene Market Size, Share & Industry Analysis, By Type (CHP, CRP, CIP, MMC, Others), By Application (Steam Cracking, Fluid Catalytic Cracking) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Propylene is a colorless and flammable gas. The propylene is used as a main building block, which is produced from steam cracking, ethane & liquid feeds, and naphtha reformers. In the production process of propylene, the long-chain hydrocarbons feedstock’s (ethane, naphtha, and gas oils) 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 high temperature and pressure. The cracking catalysts for propylene are used to increase the rate of cracking process.
Propylene is majorly used in the production of polypropylene. The polypropylene offers good tensile strength, high surface hardness, and strong chemical resistance. These properties surge the demand for polypropylene in the various application which include packaging, construction, automobile, medical, and electrical & electronics. Furthermore, propylene is utilized for the production of acrylonitrile, methyl methacrylate, oxo-alcohols, acetone, and acrylic acid. The rising demand for these products coupled with the increasing adoption of polypropylene in various applications will fuel the demand for propylene. Thereby provide lucrative market growth to the cracking catalysts for the propylene production.
However, propylene is part of petrochemicals. Hence, fluctuation in the price of petrochemicals will directly impact the overall price of propylene. Hence, this further anticipated to restrict the growth of cracking catalysts for propylene market.
Key Market Driver -
Rising demand for propylene for the production of polypropylene to drive the market growth
Key Market Restraint -
Environmental concern associated with propylene to restrict the market growth
Market Segmentation:
Based on type, the cracking catalysts for propylene market is segmented into CHP, CRP, CIP, MMC, and others. Based on application, the market is segmented into steam cracking and fluid catalytic cracking. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Players Covered:
The key players in the cracking catalysts for propylene market includes W. R. Grace & Co.-Conn., Technip Stone & Webster Process Technology Inc, Axens, Albemarle Corporation, JGC C&C, BASF SE, McDermott, CECO Environmental, MERYT, Shell, Maverick Engineering, Inc., and Gazprom Neft PJSC.
Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenarios
- Porters Five Forces Analysis
Regional Analysis:
Asia Pacific is anticipated to witness sustainable growth in the cracking catalysts for propylene market during the forecast period. The growth is attributed to the rising demand for propylene from the production of polypropylene. Further rising adoption of naphta in the feedstocks will fuel the market growth. The rising product demand in fluid catalytical cracking will fuel the market in North America. The growth in Europe is attributed to the rising demand for steam cracking in the production of propylene. The Latin America and Middle East & Africa are anticipated to witness significant growth, owing to the increasing adoption of the polypropylene in the packaging application.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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