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China to surpass US in propylene use
14 Mar '11
1 min read
As per a latest report by German consulting firm Ceresana, global demand for propylene will touch a new high in next few years and will exceed US $90 billion mark in 2012 surpassing the record demand in 2008.
The main reason behind this will be capacity expansion of propylene and its downstream products in the Middle East and China, the report claimed. In Middle East, the petrochemical industry is on boom for last few years with impressive growth rate and propylene supply and demand is expected to double by 2014.
In the global propylene consumption perspective, Asia-Pacific region accounts for more than 45 percent. In 2011, China is expected to surpass the U.S. in propylene consumption.
With China becoming world's largest consumer of propylene, Asia-Pacific region will continue to dominate global propylene market.
With a lion share of more than 65 percent, polypropylene is still the most important derivative of propylene and will continue to dominate till 2017, says the report. The second largest demand comes from producers of acrylonitrile, followed by propylene oxide.
The main reason behind this will be capacity expansion of propylene and its downstream products in the Middle East and China, the report claimed. In Middle East, the petrochemical industry is on boom for last few years with impressive growth rate and propylene supply and demand is expected to double by 2014.
In the global propylene consumption perspective, Asia-Pacific region accounts for more than 45 percent. In 2011, China is expected to surpass the U.S. in propylene consumption.
With China becoming world's largest consumer of propylene, Asia-Pacific region will continue to dominate global propylene market.
With a lion share of more than 65 percent, polypropylene is still the most important derivative of propylene and will continue to dominate till 2017, says the report. The second largest demand comes from producers of acrylonitrile, followed by propylene oxide.
Fibre2fashion News Desk - China
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