Piperylene Market to Hit US$ 1,155.17 Million By 2031 | Updated Analysis Insights
Consegic Business Intelligence analyzes that the piperylene market is growing with a healthy CAGR of 5.6% during the forecast period (2023-2031), boosted by the high demand for piperylene in the manufacturing of petroleum resin across the globe, and major participants includes are LOTTE Chemical, Braschem, Henghe, Shell Chemicals, China Petrochemical Corporation
New York, Sept. 25, 2023 (GLOBE NEWSWIRE) — The global Piperylene Market is expected to witness significant growth at a CAGR of 5.6% during the forecast period of 2023-2031. Factors such as the high demand for piperylene in the manufacturing of petroleum resin, and growing demand for piperylene in the manufacturing of adhesives & sealants, which, in turn, is boosting the market growth. In addition, the Increasing spending on infrastructure development for constructing new highways will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the piperylene market is poised for strong expansion and is expected to reach USD 1,155.17 million by 2031. The market, which was valued at USD 710.73 million in 2022, and USD 744.88 million in 2023 is predicted to grow at a compound annual growth rate of 5.6% during the period 2023-2031. 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.
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Piperylene is an unsaturated hydrocarbon bonded with five carbon atoms. It is mainly used in petroleum resin(adhesive) raw material. Piperylene is primarily produced as a byproduct of petroleum refining and cracking processes, typically from naphtha or light hydrocarbon fractions. It is an important raw material in the chemical industry and serves as a building block for the synthesis of various chemicals and polymers such as resins, adhesives, and plastics.
Piperylene is commonly used as a monomer in the production of synthetic rubber, such as styrene-butadiene rubber (SBR) and polybutadiene rubber (PBR). It is also used in the manufacturing of various chemical products. Moreover, piperylene is also used as a monomer in the production of plastic.
Global Piperylene Market: Report Attributes
|Report Attributes||Report Details|
|Market Size in 2031 (USD Million)||USD 1,155.17 Million|
|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|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.|
|By Region||North America, Asia-Pacific, Latin America, Europe, Middle East & Africa|
|Key Players||Shell Chemicals, China Petrochemical Corporation, Sunny Industrial System GmbH, LyondellBasell Industries N.V., Mitsui & Co., Shandong Yuhuang Chemical, LOTTE Chemical, Braschem, Henghe (Nanjing)Materials & Science Technology Co.,Ltd., and Zibo Luhua Hongjin New Material Group Co.,Ltd|
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Global Piperylene Market Segmentation Details:
Based on Type, the above 65% purity segment contributed the largest shares to the market growth in 2022. Above 65% purity piperylene, which is also known as high purity piperylene is a specialized grade of chemical compound having significant applications in the manufacturing of synthetic rubber, adhesives & sealants, resins & coatings, plastic modifiers, and others. The high benefits of above 65% purity in various applications are driving the segment’s growth globally
Based on Application, the synthetic rubber segment accounted for the largest market share in 2022. Piperylene is an essential raw material in the production of synthetic rubber and it is primarily used in the production of two important types of synthetic rubber polybutadiene rubber (PBR) and styrene butadiene rubber (SBR). Polybutadiene rubber is used in the manufacturing of industrial belts, tire threads, footwear golf ball cores, and others. The significant growth in the production of polybutadiene rubber is driving the market segment growth worldwide
Based on End-user Industry, the automotive segment accounted for the largest market share in the year 2022. Piperylene is used in various applications such as the manufacturing of synthetic rubber, sealants, adhesives, paints and coatings, plastic, and others. These applications are heavily incorporated in the automotive industry. significant growth in the automotive industry across the globe is driving the segment growth.
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Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth. The significant growth in the automotive and paper & packaging industry across the region is fueling the market growth. For instance, according to the report by the International Trade Administration in April 2023, China is the largest vehicle market in the world by both sales and manufacturing output, with automotive production expected to reach 35 million vehicles by 2025.
Shell Chemicals, China Petrochemical Corporation, Sunny Industrial System GmbH, and LyondellBasell Industries N.V., are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of piperylene. Further, the piperylene market is expected to grow steadily due to the increasing spending on infrastructure development for constructing new highways, especially in regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing expansion of piperylene players in the international market is expected to increase the competition in the industry.
- In February 2022, Shell announced the expansion of its chemicals business as a part of the company’s transition strategy.
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 37.15% valued at USD 264.04 million in 2022 and USD 277.25 million in 2023 and is expected to reach USD 431.11 million in 2031. Moreover, in Asia Pacific, China accounted for the highest market share of 22.35% during the base year of 2022.
- Based on type, the above 65% purity segment accounted for the highest share contribution to the piperylene market statistics in 2022.
- In the application, the synthetic rubber segment is expected to contribute significant shares to the growth of piperylene market statistics during the forecast period.
- In the end-user industry, the automotive segment is expected to contribute significant shares to the growth of the piperylene market statistics during the forecast period.
- North America is expected to boost the market demand for piperylene due to the increasing investments in infrastructure projects across the region.
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List of Major Global Piperylene Market:
- Shell Chemicals
- China Petrochemical Corporation
- Sunny Industrial System GmbH
- LyondellBasell Industries N.V.
- Mitsui & Co.
- Shandong Yuhuang Chemical
- LOTTE Chemical
- Henghe (Nanjing)Materials & Science Technology Co.,Ltd.
- Zibo Luhua Hongjin New Material Group Co.,Ltd.
Global Piperylene Market Segmentation:
- By Type
- Below 40% Purity
- 40%-65% Purity
- Above 65% Purity
- By Application
- Synthetic Rubber
- Adhesives & Sealants
- Resins & Coatings
- Plastic Modifiers
- By End-user Industry
- Aerospace & Marine
- Consumer Goods
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Frequently Asked Questions in the Piperylene Market Report
- What was the market size of the piperylene industry in 2023?
- In 2023, the market size of piperylene was USD 744.88 million.
- What will be the potential market valuation for the piperylene industry by 2031?
- In 2031, the market size of piperylene will be expected to reach USD 1,155.17 million.
- What are the key factors restraining the growth of the piperylene market?
- Fluctuation in the feedstock prices is restraining the market growth at the global level.
- What is the dominating segment in the piperylene market by application?
- In 2022, the synthetic rubber segment accounted for the highest market share in the overall piperylene market.
- Based on current market trends and future predictions, which geographical region is growing at the fastest CAGR over the forecast period in the piperylene market?
- North America accounted for the highest CAGR in the overall piperylene market.
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