Propylene The Propylene Market Recovers
The U.S. edged out to the second place in terms of propylene consumption? Very probable, says a new study. China is rising to become the greatest propylene consumer worldwide.
Konstanz/Germany―For propylene, which is one of the most important starting products in the petrochemical industry, a new study from Ceresana Research forecasts a dynamic development of the global demand, namely an increase of more than 20 million tons by 2017. “Sales of propylene reached their peak value of over 90 billion US dollars in 2008“, reports Oliver Kutsch, the president of the market research institute. ”This level will be surpassed as soon as in 2012.“
The massive capacity expansions for propylene and downstream products in the Middle East and China are stated as an important factor, which will impact the global propylene market. Middle East countries exhibit the largest increases in propylene production and demand. Ceresana Research expects that supply and demand in these countries will have doubled by 2014. For example, China is rising to become the greatest propylene consumer worldwide and will most likely edge out the U.S. to the second place in 2011.