Global demand for propylene by 132 million tons in 2025
Thanks to strong demand for propylene derivatives in emerging markets such as Asia, Nexant, a US-based consulting firm, recently forecasted that global propylene demand will increase to 132 million tons by 2025, compared with approximately 50 million in 2011. Ton. Research shows that the global propylene demand growth rate will gradually slow down after 2015, and global propylene consumption will increase at an average annual rate of 2.9% from 2015 to 2025, and the average annual growth rate from 2005 to 2015 will be 3.8%.
Nexant believes that the tight supply of propylene in the United States will continue to support price increases, because a large number of ethylene crackers in the United States will use lighter natural gas as raw materials, and propylene production will continue to decline. In the future, the United States will be the world’s highest price for propylene. However, the gradual application of emerging technologies such as biomass-based propylene and proprietary propylene process technology will help ease the tight supply situation.
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