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市场调查报告书
商品编码
1661641
印度的丙烯市场评估:衍生物,各终端用户,纯度,不同製造流程,各地区,机会及预测,2018~2032年India Propylene Market Assessment, By Derivatives, By End-User, By Purity, By Production Process, By Region, Opportunities, and Forecast, FY2018-2032F |
2024财年印度丙烯市场规模为695万吨,预计2032财年将达1,103万吨。由于工业涂料、热熔胶、塑胶和橡胶加工助剂、身体护理产品、金属铸造、药品和电气绝缘领域的使用量不断增加,在 2025 财年至 2032 财年的预测期内,市场以 5.95% 的复合年增长率增长。
此外,近三分之二的丙烯用于製造聚丙烯。聚丙烯是一种塑胶树脂,用于製造服装、塑胶挤压瓶、户外家具等。同样,汽车零件、船舶、家具、器具和溶剂也是由环氧丙烷製成的,从而增加了对丙烯的需求。
由于全球需求旺盛,印度正在吸引大量投资建立新的聚丙烯工厂。印度目前已跻身世界五大丙烯生产国和出口国之列,随着新投资和计画的启动,预计到2028财年末,印度将成为世界第二大丙烯生产国。其中最大的项目之一是印度化工和石化集团信实工业(RIL),该公司正在贾姆讷格尔开发一个完整的原油化工炼油厂,用于生产丙烯。该项目耗资87亿美元,预计2027年完工。
上述公司不根据其市场占有率保留订单,并且可能会在工作过程中发生变化。
The India Propylene Market size was valued at 6.95 million tons in FY2024 and is estimated to reach 11.03 million tons by FY2032. The market is growing at a CAGR of 5.95% for the forecast period between FY 2025 and FY 2032, owing to increasing usage in the manufacturing of industrial coatings, hot melt adhesives, plastic & rubber processing aids, body care products, metal casting, medicines, and electrical insulations.
Additionally, almost two-thirds of propylene is utilized to make polypropylene, a plastic resin used to manufacture clothes, plastic squeeze bottles, outdoor furniture, etc. Similarly, automotive components, boats, furniture, appliances, and solvents are also made from propylene oxide, thereby increasing the demand for propylene.
India is witnessing massive inflow of investments for establishing of new polypropylene plant owing to high global demand. India is already in top 5 largest propylene manufacturers and exporters as well and with the new investments and projects, India is set to become 2nd largest manufacturer globally by the end of FY 2028. Some of the biggest projects include Reliance Industries (RIL), an India based chemical and petrochemical conglomerate is developing a complete crude to chemicals refinery in Jamnagar, where propylene will be manufactured. The project will cost USD 8.7 billion and construction will be completed by 2027.
Government Initiatives Acting as a Catalyst for Indian Propylene Market
Government initiatives play a pivotal role in driving the Indian propylene market. Schemes like the Production Linked Incentive (PLI) aim to boost domestic production and attract large-scale manufacturing. These initiatives support advanced and sustainable production methods, enhancing efficiency and meeting the growing domestic demand. Government policies also encourage investment in infrastructure, further igniting the sector's growth. Such measures collectively drive the propylene market by supporting domestic manufacturing, technology adoption, and overall market expansion.
For instance, in November 2024, Haldia Petrochemicals Ltd. (HPL) has signed a license amendment with Lummus Technology to expand its phenol production in Haldia, West Bengal. This capacity upgrade from 300 KTPA to 345 KTPA aligns with the company's growth strategy and India's chemicals industry initiatives. HPL's significant investment in greenfield projects and its focus on using advanced technologies like the first on-purpose propylene plant using olefin conversion technology (OCT) emphasizes the impact of government-backed initiatives. Such projects highlight the role of government initiatives in supporting and driving the expansion and modernization of India's propylene market, enhancing production capabilities and meeting rising domestic demand.
Automotive Sector Has Gained the Maximum Share
India propylene market is anticipated to gain momentum from the automotive sector; used to manufacture battery cases and trays, bumpers, interior trim, instrument panels, fender liners, door trims, and other crucial parts of automobiles. Therefore, the rise in the mass manufacture of vehicles leads to growth of the India propylene market.
In India, new automotive sales have increased by 24% in 2022 compared to 2021 reaching 54.56 million vehicles produced. High automotive production directly reflects to higher demand of propylene in the country. Also, as more vehicles are on road, higher demand for the material will be generated. Ind India, one accident is witnessed every few seconds which not just damages car but generated demand for replacement impacting polypropylene consumption through aftermarket sales of automotive components.
Safety Issues Limit the Growth of the Market
A key market limitation is the strict safety rules related to the production and shipping of propylene. When exposed to high temperature and pressure, propylene is very flammable, poisonous, and dangerous. The propylene manufacturers are investing in new methods and procedures to reduce the chemical concentrations and harmful levels. The challenging characteristics of propylene raised the operating expenses of both its manufacturers and consumers, reducing the opportunity for investments in the introduction of new products and development into new markets, which in turn had a negative impact on the India propylene market growth.
Moreover, exposure to low levels of propylene in the air results in dizziness, drowsiness, and unconsciousness. Skin contact with liquid propylene causes frostbite, serious damage, or burns. To reduce exposure, workers require access to personal protective equipment and are trained how to use it in occupational contexts where there is a presence of propylene.
Propylene is a colourless, flammable, gaseous hydrocarbon that is derived from petroleum. It is widely used to make resins, fibres, elastomers, as well as a variety of other chemical products. Propylene is a by-product of natural gas and crude oil and is the most utilized petrochemical, after ethylene. Both natural and artificial sources, such as emissions from vegetation, burning of organic matter, incomplete combustion of fossil fuels, and its manufacture and usage, contribute to the atmospheric presence of propylene.
Impact of COVID-19 on India Propylene Market
Rising demand for N95 masks during COVID-19 pandemic and lockdown, the propylene market experienced exponential growth. The India propylene market flourished due to the increasing demand for safe packaging during the pandemic. Many businesses are working on masks that are frequently reusable, thus increasing the need for propylene in the future.
Furthermore, due to the rising cautious behaviours of the population, strong demand for propylene is being driven by the market's continued growth in the packaging industry. With the ease of lockdown and restrictions, the automotive sector, which previously faced hindrances due to the disruption of supply lines, is regaining its growth impact. However, the market's expansion is hampered by the restricted supply of propylene due to inadequate labour and logistical challenges.
Impact of Russia-Ukraine War on India Propylene Market
Due to supply chain interruptions, a rise in commodity prices, and economic sanctions against other countries because of the conflict between these two nations, there has been inflation in propylene prices not just in India but throughout the world. High crude oil prices also impacted its production and transportation, making it more costly.
Key Players Landscape and Outlook
Companies continue to dominate the India propylene market by increasing their manufacturing capacity, R&D efforts, and product launches. Different tactics are used, such as strategic partnerships, agreements, mergers, and collaborations.
Companies mentioned above DO NOT hold any order as per market share and can be changed during course of work