Farmington, March 14, 2023 (GLOBE NEWSWIRE) -- The Global Piperylene Market Is Projected To Grow At A CAGR Of 5.6% From 2022 To 2030. Piperylene is a hydrocarbon that can catch fire and is used to make high-octane alkylates and other products. It is also used to make medicines, rubber, paints, and solvents. Piperylene is a chemical raw material that is used to make caprolactam, which is a key molecule used to make nylon. It can be made from oil or by adding hydrogen to benzene or toluene in the presence of nickel. The growth can be explained by a number of things, such as the growing demand for glues, paints, rubber, and other products used in industry. During the time frame of the forecast, North America is predicted to grow the fastest.
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Piperylene Market Recent Developments:
- In June 2018, ExxonMobil began production of "Escorez" hydrocarbon resins and halobutyl elastomers (rubbers) at its integrated petrochemical plant in Singapore. The hydrocarbon resin plant will have a total capacity of 90 tons per year to meet the demand for hot melt adhesives used in baby diapers and packaging solutions. Demand for piperylene in Singapore is estimated to increase significantly as piperylene is used as a raw material for the manufacture of hydrocarbon resins.
- In May 2019, Eastman Chemical Company announced the expansion of production of non-hydrogenated and hydrogenated hydrocarbon resins at two of its petrochemical facilities - Middelburg (Netherlands) and Pennsylvania (USA). The expansion will be completed by mid-2020, after which the hydrocarbon resin will be further used for the manufacture of hot-melt adhesives. The expansion of hydrocarbon resin plants will further boost demand for piperylene in the United States and the Netherlands.
- In July 2019, Henkel announced plans to invest $45 million to expand its UV acrylic adhesives plant in Salisbury, North Carolina, USA. UV acrylic adhesives will be further used in the manufacture of self-adhesive labels and tapes. The expansion will further increase the demand for piperylene in the U.S. as piperylene acts as a binder in the manufacture of adhesives.
Piperylene Market Dynamics:
Drivers And Restraints:
- In the past few years, the market for piperylene has grown a lot, and that growth is likely to continue in the years to come. Piperylene is needed because more and more people are using goods that are made from it.
- In the near future, demand for high-performance plastics, adhesives, and coatings is likely to rise because developing countries are putting more money into industries like infrastructure, automotive, and aircraft. Market players who make parts for the automotive, aerospace, and building industries need a special coating that gives better protection for long-term operations. This helps them save money on upkeep and repairs.
- In addition to this, the car and aerospace industries are putting more effort into replacing heavy metal parts with lighter ones to improve performance and fuel economy. Also, the ability of piperylene-based plastics and coatings to meet specific industry needs in an efficient way is likely to increase the market for piperylene-based products.
- Since the piperylene market is driven by innovation, everyone along the value chain is working on research and development to come up with new piperylene products. Chemical qualities like high flammability and toxicity that affect the body and respiratory system could slow the growth of the market.
Regional Outlook:
During the reporting period, the global market for piperylene is likely to be led by North America. It will bring in a lot of money, and Asia Pacific will come in second. North America includes, among other places, the United States, Canada, and Mexico. Over the next few years, the piperylene market in the area will be driven by the growing need for glues, paints, rubber, and other things. During the time frame of the projection, the piperylene market in Latin America is expected to grow at the fastest rate. The construction and auto businesses in Brazil are growing, and there is a higher demand for packaging materials. The Brazilian government has plans to build roads and railroads, which will boost the need for piperylene in the area. The European piperylene market is expected to grow because of a number of reasons, such as the growing demand for chemicals made from pepper in the auto industry and the growing interest among consumers in herbal products made with piperidine derivatives that contain high-purity grades of PIPE. There will be growth in the chemical, personal care, and pharmaceutical businesses. The most piperylene is likely to be used in the Asia-Pacific market.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 5.6% from 2023 to 2030 |
| By Type |
|
| By Applications |
|
| By Formulation | Powder, Tablet & Capsule, Liquid, Granule & Gelling Agent |
| By Companies | 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 |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Piperylene Market Key Segments Covered:
Top Market Players:
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.
Piperylene Market by Types:
- 40% Purity
- 40% -65% Purity
- 65% Purity
Piperylene Market by Applications:
- Plastics
- Adhesives
- Resins
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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