Global Piperylene Market growing at a CAGR of 5.6% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Sep 2023
Key Market Overview
Consegic Business Intelligence analyzes that the piperylene market is predicted to grow at a compound annual growth rate of 5.6% from 2023 to 2031 and is expected to reach USD 1,155.17 million in 2031 and 744.88 million in 2023 which was valued at USD 710.73 million in 2022.
The report highlights the high demand for piperylene in the manufacturing of petroleum resin across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the piperylene market.
Global Piperylene Market By Overview
The piperylene market is bifurcated into the type, application, and end-user industry. Based on type, the market is segmented into Below 40% Purity, 40%-65% Purity, and Above 65% Purity. In 2022, the above 65% purity segment dominate in the overall piperylene market. The application segment is categorized into synthetic rubber, adhesives & sealants, resins & coatings, plastic modifiers, and others. In 2022, the synthetic rubber segment accounted for the highest market share in the piperylene market. Based on the end-user industry, the market is segmented into automotive, construction, packaging, aerospace & marine, consumer goods, and others. In 2022, the automotive segment dominate in the overall piperylene market.
Get Free SampleMarket Dynamics
Driver:
- High demand for piperylene in the manufacturing of petroleum resin
- Growing demand for piperylene in the manufacturing of adhesives & sealants
Restraints:
- Fluctuation in the feedstock prices
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Below 40% Purity, 40%-65% Purity, and Above 65% Purity |
| By Application | Synthetic Rubber, Adhesives & Sealants, Resins & Coatings, Plastic Modifiers, and Others |
| By End-user Industry | Automotive, Construction, Packaging, Aerospace & Marine, Consumer Goods, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Shell Chemicals, China Petrochemical Corporation, Sunny Industrial System GmbH, and LyondellBasell Industries N.V., which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the piperylene market is expected to witness substantial growth in the coming years due to the Increasing spending on infrastructure development for constructing new highways in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Shell Chemicals
- China Petrochemical Corporation
- Sunny Industrial System GmbH
- LyondellBasell Industries N.V.
- Mitsui & Co.
- Shandong Yuhuang Chemical
- LOTTE Chemical Corp.
- Braschem
- Henghe (Nanjing)Materials & Science Technology Co.,Ltd.
- Zibo Luhua Hongjin New Material Group Co.,Ltd