 "Auto and FMCG sectors driving demand for propylene in India")
The market of propylene in India is anticipated to grow at a CAGR of over 8 percent during 2016-2025 as demand picks up from automotive, FMCG and other industrial sectors, according to TechSci Research report. India accounted for a share of around 10 percent in the global propylene market in 2015.
“In India, propylene is being used in numerous applications across various end use industries such as automotive & auto components, FMCG, paints & coatings, wires & cables, electronic & electrical appliances, home furnishings & bedding, etc. Growing demand from numerous end use industries, increasing industrialization and strong growth in automotive and FMCG sectors are some of the major factors expected to aid the country’s propylene market during 2016-2025,” said TechSci Research in a press release.
On the basis of application, India propylene market has been segmented into five broad categories, namely, polypropylene, propylene oxide, acrylonitrile, cumene & others. Among these categories, polypropylene dominated the Indian market of propylene in 2015, and the same trend is expected to continue over the next five years as well. Propylene serves as a major raw material in the production of polypropylene. It undergoes addition polymerisation to produce polypropylene. Hence, growing demand for polypropylene in India is expected to increases the consumption propylene in the country during forecast period.
“Propylene oxide (PO) is the second major application area for propylene in the country. PO is tailored to produce polyurethanes, which can further be used for developing flexible and rigid foams used in furniture industry. In 2015, furniture market of India stood at $ 16 million, and it is expected to register strong growth rate during 2016-2025 due to surging middle class urban population and increasing disposable income. Hence, booming furniture industry is expected to positively influence the India propylene market during forecast period,” said Karan Chechi, research director, TechSci Research.
