NEW YORK, Oct. 4, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The Global Piperylene Market size is estimated to grow by USD 499.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.56% during the forecast period. growing demand for piperylene-based adhesives is driving market growth, with a trend towards growing demand for piperylene from emerging economies. However, increasing pollution and degradability issues related to plastic poses a challenge - Key market players include Braskem SA, Chevron Corp., China Petrochemical Corp., Dow Inc., Exxon Mobil Corp., Hanwha Corp., Kai Yen International Trading Corp., Lotte Corp., LyondellBasell Industries N.V., Mitsui and Co. Ltd., NOVA Chemicals Corp., Shandong Yuhuang Chemical Group Co. Ltd., Zeon Corp., and Zibo Luhua Hongjin New Material Group Co. Ltd..
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Piperylene Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 5.56% Market growth 2024-2028 USD 499.9 million Market structure Concentrated YoY growth 2022-2023 (%) 5.19 Regional analysis APAC, Europe, North America, Middle East and Africa, and South America Performing market contribution APAC at 60% Key countries China, US, India, Japan, and Germany Key companies profiled Braskem SA, Chevron Corp., China Petrochemical Corp., Dow Inc., Exxon Mobil Corp., Hanwha Corp., Kai Yen International Trading Corp., Lotte Corp., LyondellBasell Industries N.V., Mitsui and Co. Ltd., NOVA Chemicals Corp., Shandong Yuhuang Chemical Group Co. Ltd., Zeon Corp., and Zibo Luhua Hongjin New Material Group Co. Ltd.
Market Driver
The global piperylene market is experiencing growing demand, particularly in emerging economies such as China and India. Rapid industrialization and urbanization in these countries have led to increased demand for various chemicals and materials, including piperylene. Key industries like automotive and construction are major consumers of piperylene due to its use in producing synthetic rubber, resin, adhesives, and other materials. Additionally, the rising consumption of consumer goods and packaging materials, driven by a growing middle-class population and increasing disposable incomes, is contributing to the demand for piperylene. Favorable government policies and initiatives are also attracting foreign investments and encouraging the establishment of chemical manufacturing facilities, expanding the global piperylene market. Furthermore, the importance of sustainability and eco-friendliness is driving the adoption of bio-based piperylene derived from renewable feedstocks. These factors are expected to fuel the growth of the global piperylene market in the forecast period.
The global Piperylene market is witnessing significant growth, driven by its wide applications in adhesives, paints, and rubber industries. Market research and analysis indicate promising opportunities, especially in the country-level commercial development. However, market challenges include increasing production costs and supply issues. The market landscape is undergoing transformation, with market players focusing on product pricing strategies to stay competitive. Political and social scenarios, as well as macroeconomic analysis, are crucial for market assessment and evaluation. Market forecasts predict continued growth, with a market size synopsis expected to expand in the coming years. Market exploration and appraisal reveal that market insights and perspectives are essential for understanding the market scenario and making informed decisions. Market estimation and survey reports provide valuable information on the current market scenario, market scenario, and market trends. Market scrutiny and inspection offer in-depth analysis, diagnosis, and examination of the market, enabling effective market strategy formulation.
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Market Challenges
The global piperylene market is facing challenges due to the environmental concerns surrounding plastic waste. Plastic products, primarily made from crude oil derivatives, do not degrade easily and contribute significantly to pollution. The accumulation of plastic waste in landfills and natural habitats harms both land and marine life. Plastics are widely used in industries such as food and beverage, consumer goods, electrical and electronics, and automotive, often resulting in large quantities of disposable plastic products. Governments and health and environmental agencies are taking steps to reduce plastic usage and promote biodegradable alternatives. Europe , India , Italy , and Argentina are among the countries encouraging industries to replace plastic products. This shift is expected to decrease the demand for piperylene significantly. Additionally, the incineration of plastic contributes to global warming, further increasing the pressure on the industry. The challenges posed by plastic waste are significant, and the piperylene market growth may be negatively impacted during the forecast period. The environmental concerns and regulations aimed at reducing plastic usage and promoting biodegradable alternatives are key factors to consider.
, , , and are among the countries encouraging industries to replace plastic products. This shift is expected to decrease the demand for piperylene significantly. Additionally, the incineration of plastic contributes to global warming, further increasing the pressure on the industry. The challenges posed by plastic waste are significant, and the piperylene market growth may be negatively impacted during the forecast period. The environmental concerns and regulations aimed at reducing plastic usage and promoting biodegradable alternatives are key factors to consider. The Piperylene market is experiencing various challenges in the areas of prices, growth, and outlook. Price volatility in raw materials like chemicals, polymer resins, elastomers, and adhesives impacts the overall cost structure of Piperylene production. Despite this, the market continues to grow, driven by applications in industries such as automotive, construction, electronics, packaging, pharmaceuticals, textile, and coatings. Regulations and sustainability concerns are key factors influencing market innovation and developments. Strategic insights from research indicate potential in emerging markets and technological advancements. Market segmentation by end-users reveals significant demand from automotive, construction, and electronics sectors. Market entry and positioning require understanding of market competition, regulations, and strategic partnerships. Collaborations, investments, and trade are crucial for market players to stay competitive. Cost analysis, trade, exports, and imports of Piperylene and its raw materials are essential for understanding the market dynamics. The market faces barriers due to environmental impact and regulatory compliance. Market players must focus on sustainability, technological advancements, and cost efficiency to remain competitive. Keep an eye on key market players, their strategies, and regulatory updates for the latest market trends.
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Segment Overview
This piperylene market report extensively covers market segmentation by
Application
1.1 Adhesives
1.2 Plastics
1.3 Others
Product
2.1 Less than 40% purity
2.2 40-65% purity
2.3 More than 65% purity
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 Middle East and Africa
and 3.5 South America
1.1 Adhesives- The global piperylene market caters to the demand for various adhesive types used in numerous industries, including construction, automotive, and packaging. Piperylene adhesives, particularly piperylene-styrene copolymers, offer advantages such as high peel adhesion, tack strength, and lower viscosity. These copolymers are compatible with a wide range of other polymers, making them ideal for customized adhesive formulations. Piperylene-styrene copolymer adhesives exhibit excellent adhesion to various substrates, including glass, steel, aluminum, wood, paper, leather, and certain plastics. The increasing focus on reducing material costs has fueled the demand for primerless adhesives, further boosting the market growth for piperylene-styrene copolymers. Industrial sectors, including automotive, construction, consumer goods, electrical and electronics, and others, are significant consumers of piperylene-based adhesives. These industries require adhesives with diverse properties, and piperylene-styrene copolymers and butadiene-piperylene copolymers offer the versatility needed to meet their demands. As a result, the growing demand for adhesives in these industries is expected to drive the growth of the global piperylene market during the forecast period.
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Research Analysis
Piperylene is a versatile chemical compound used in various industries, including adhesives, paints, and rubber production. The global piperylene market is forecast to experience steady growth over the next decade due to increasing demand for these end-use applications. The cost of piperylene production and supply is influenced by macroeconomic factors such as oil prices, exchange rates, and raw material costs. Commercial development in emerging markets, particularly in Asia Pacific, is driving consumption in the region. Political scenarios, such as trade policies and regulations, and social scenarios, such as demographic shifts and consumer preferences, can also impact the market outlook. Macroeconomic analysis indicates continued growth in the global piperylene market, with consumption expected to reach new heights in the coming years. Applications of piperylene extend beyond adhesives, paints, and rubber, making it a valuable component in various industries. Regions such as Europe and North America are also significant consumers of piperylene, contributing to the global market growth.
Market Research Overview
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Adhesives
Plastics
Others
Product
Less Than 40% Purity
40-65% Purity
More Than 65% Purity
Geography
APAC
Europe
North America
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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