Based on a recent market research study, the global piperylene market is expected to be dominated by the North American region during the forecast period. However, the Asia Pacific market is expected to exhibit the highest demand for piperylene. This suggests that the demand for this chemical compound is likely to be driven by a range of factors, including regional economic conditions, regulatory policies, and consumer preferences. Overall, these findings underscore the importance of understanding the complex dynamics that shape the global piperylene market and highlight the need for ongoing research to identify emerging trends and opportunities in this space.
The global piperylene market is expected to experience a Compound Annual Growth Rate (CAGR) of 5.6% from 2022 to 2030, as reported by market projections. Piperylene is a hydrocarbon that is flammable in nature and is primarily used to produce high-octane alkylates, as well as a range of other products, including medicines, rubber, paints, and solvents. It is an essential chemical raw material that is utilized in the production of caprolactam, a key molecule that is used in the production of nylon. Piperylene can be obtained either from oil or by adding hydrogen to benzene or toluene in the presence of nickel.
The projected growth in the global piperylene market can be attributed to a number of factors, including the increasing demand for various industrial products such as glues, paints, and rubber. Additionally, the development of new products that utilize piperylene as a raw material, coupled with increasing investments in research and development activities, is expected to contribute to the growth of the piperylene market during the forecast period.
Developments In Recent Piperylene Market :
In June 2018, ExxonMobil initiated the production of “Escorez” hydrocarbon resins and halobutyl elastomers (rubbers) at its petrochemical plant located in Singapore. The hydrocarbon resin plant has a total production capacity of 90 tons per year, which is intended to cater to the rising demand for hot melt adhesives used in baby diapers and packaging solutions.
In May 2019, the Eastman Chemical Company revealed its plans to expand the production of non-hydrogenated and hydrogenated hydrocarbon resins at two of its petrochemical facilities located in Middelburg (Netherlands) and Pennsylvania (USA). This expansion is expected to be completed by mid-2020, following which the hydrocarbon resin will be utilized for the production of hot-melt adhesives.
In July 2019, Henkel, a leading adhesive manufacturing company, declared its intention to invest $45 million in expanding its UV acrylic adhesives plant situated in Salisbury, North Carolina, USA. The UV acrylic adhesives produced at the plant will be used in the production of self-adhesive labels and tapes.
According to the report, the global market for piperylene is expected to be dominated by North America, followed by Asia Pacific. The North American market, which includes the United States, Canada, and Mexico, will be driven by increasing demand for adhesives, paints, rubber, and other materials over the next few years. Latin America is expected to have the highest growth rate in the piperylene market during the projection period, due to growth in the construction and automotive industries in Brazil, along with increased demand for packaging materials. The Brazilian government’s plans to build roads and railways are also expected to drive demand for piperylene in the region.
The European piperylene market is also expected to grow due to various factors such as increasing demand for pepper-derived chemicals in the automotive industry, and rising consumer interest in herbal products made with high-purity grades of PIPE. The chemical, personal care, and pharmaceutical industries are also expected to contribute to the growth of the European piperylene market. Finally, the Asia-Pacific market is expected to use the most piperylene.
Some of the top players in the piperylene market include LyondellBasell Industries N.V., The Dow Chemical Company, Exxon Mobil, Shell Chemicals, Triveni Chemicals, Braskem, Yuhuang Chemical Inc., Zeon Corporation, Shanghai Shangyi Chemical Technology Co., Ltd., and others.
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