Propylene Tetramer Market - Forecast(2023 - 2028)

Propylene Tetramer Market Overview

Propylene Tetramer Market size is forecasted to grow at a CAGR of 4.2% during the forecast period 2022-2027. The oligomer propylene tetramer, also known as dodecane, is an olefine oligomer with four propylene monomers grouped in a quaternary structure. It's made synthetically using propylene and phosphoric acid catalyst in a polymerization process. Propylene tetramer is an intermediate chemical that is used to make a variety of downstream chemicals. Because of its unsaturated double bond and high branching, propylene tetramer is used in a wide range of applications. These agents are currently used as an intermediate in the production of a variety of chemicals, including surfactants, agricultural chemicals, polymerization agents, and corrosion inhibiting coatings, all of which are driving the market forward. Additionally, increased demand for fuel additives and lubricating additives is expected to drive market growth over the forecast period. The novel coronavirus pandemic had far-reaching consequences in a variety of industries, including lubricants. Due to the production shutdowns, industrial lubricant adoption fell sharply, while passenger vehicle lubricants took the brunt of the blow due to strict lockdowns. These factors had an indirect impact on the propylene tetramer industry's growth in 2020.

Report Coverage

The report: “Propylene Tetramer Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Propylene Tetramer Industry.

By Packaging: Drums, Bags, Bottles, and Others.
By Application: Plasticizers, Surfactants, Lubricating Additives, Fuel Additives, Herbicides, Coatings, Detergents, and Others.
By End-Use Industry: Building & Construction (Residential, Commercial, Industrial, and Infrastructural), Transportation (Automotive, Aerospace, Marine, and Locomotive), Agriculture, Home & Industrial Cleaning, Oil & Gas, Chemical, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

• North America dominates the Propylene Tetramer Market, owing to the growing transportation industry in the region. The increasing per capita income and evolving lifestyle of individuals coupled with the rising population are the major factors expanding the transportation industry in North America.
• The widespread use in the production of lubricant additives, the recovering oil and gas industry, and booming automobile production are expected to drive up demand for propylene tetramer.
• Similarly, rising urbanization has increased the demand for surfactants, which are an important component of household chemicals like detergents, and this demand is expected to create significant opportunities for the market over the forecast period.
• The rising production and consumption of fertilizers and other agricultural chemicals also contribute to the market's long-term viability.
• However, strict environmental regulations governing the use of non-biodegradable substances and the availability of chemical substitutes are expected to limit market revenue sales.

Figure: North America Propylene Tetramer Market Revenue, 2021-2027 (US$ Million)

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Propylene Tetramer Market Segment Analysis – By Packaging

The drum segment held a significant share in the Propylene Tetramer Market in 2021 and is forecasted to grow at a CAGR of 3.5% during the forecast period 2022-2027. Drums, such as plastic, steel, and fiber drums, are ideal for storing and transporting propylene tetramer. As bottles and bags are less capable of holding or transferring toxic or hazardous materials, steel and plastic drums are frequently used for propylene tetramer packaging. In addition, because of their versatility, steel and fiber drums are an excellent choice for storing and transporting large or bulk quantities of propylene tetramer. They're also simple to palletize and wrap, making them an excellent choice for propylene tetramer bulk shipping. All of these advantages of using plastic, steel, and fiber drums as packaging are gaining segment traction.

Propylene Tetramer Market Segment Analysis – By End-Use Industry

The transportation segment held a significant share in the Propylene Tetramer Market in 2021 and is forecasted to grow at a CAGR of 5.3% during the forecast period 2022-2027. Propylene tetramer is often used as an intermediate to manufacture fuel and lubricating additives, which are then widely utilized in the transportation sector in automobiles, aircraft, ships, and trains. Fuel and lubricating additives are used in the transportation sector for improving the capabilities and performance of a vehicle's engine while it is running or in use. The transportation industry is flourishing in various countries, for instance, according to the UK Government, 38,000 large passenger aircraft worth around £4.65 trillion are needed globally over the next 20 years. According to India Brand Equity Foundation (IBEF), the Indian automotive industry is expected to reach Rs. 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. This is directly supporting the Propylene Tetramer Market growth in the transportation industry.

Propylene Tetramer Market Segment Analysis – By Geography

North American region held the largest share in the Propylene Tetramer Market in 2021 up to 34% and is forecasted to grow at a CAGR of 6.1% during the forecast period 2022-2027, owing to the bolstering growth of the transportation sector in North American countries. The North American transportation industry is growing owing to increasing per capita income coupled with the increasing population. For instance, according to the Boeing Commercial Market Outlook 2021-2040, North America will require 9,160 new airplane deliveries by 2040. Between 2019 and 2040, North America's airline fleet is expected to grow by 1.7 percent. In June 2021, the Government of Mexico launched the Tren Maya project as part of its National Development Plan for 2019-2024. Alstom will construct the new X'trapolis train. Union Pacific Railroad will purchase ten battery-electric locomotives from Progress Rail, a Caterpillar Company, according to Caterpillar Inc. The buying is part of the largest battery-electric technology investment by a Class I railroad in the United States. According to the International Organization of Motor Vehicle Manufacturers, the production of light commercial vehicles in Mexico increased from 2,072,699 units in 2020 to 2,271,034 units in 2021, an increase of 10% compared to the previous year. And with the increasing production of vehicles, it is anticipated that the demand for fuel and lubricating additives will significantly increase, which will accelerate the demand for the Propylene Tetramer Market in North America over the forecast period.

Propylene Tetramer Market Drivers

Bolstering Growth of the Detergent Industry

Propylene tetramer is often employed in the manufacturing of detergents. The detergent industry is growing in various regions, for instance, Heavy-duty and universal detergent production in Germany increased from 2,20,447 metric tonnes in 2017 to 3,33,159 metric tonnes in 2020, according to the Verband der Chemischen Industrie e. V. According to the Government of India's Ministry of Chemicals and Fertilizers and Department of Chemicals and Petrochemicals' Chemical and Petrochemical Statistics at a Glance 2020 report, the manufacturing of soap and detergents, cleaning and polishing preparations, perfumes, and toilet preparations increased from 75,071 crores (US$11.2 billion) in 2016-2017 to 81,478 crores (US$12.5 billion) in 2017-2018. According to the German Agency for International Cooperation (GIZ), the overall market size for Home Care Products in Vietnam in value terms was estimated at US$1.2 billion (VND 27,255 billion) in 2018 and is expected to reach US$1.6 billion by 2023. According to Shop Association, the Australian cosmetics sector is expected to grow from 1,387.7 million in 2017 to 1,840.1 million in 2022, while the Australian skincare sector is expected to grow from 1,868.5 million in 2017 to 2,645.1 million in 2022. With the increasing detergent industry, the demand for propylene tetramer is likely to increase at a robust pace, thereby driving market growth.

Increasing Crop Production Within the Same Area of Arable Land

Herbicides containing propylene tetramer are commonly used in crop production because it plays an important role in providing crops with the nutrients they require to grow and increase crop yield. Crop production is rising globally as the global population continues to rise. According to the Food and Agriculture Organization (FAO), primary crop production in 2018 was 9.2 billion tonnes, up 50% from 2000. In recent years, agricultural growth has accelerated, but the majority of this expansion has been driven by higher yields per unit area rather than more farmed land. It is recommended that annual crop production and yield be increased annually within the same area of arable land by 2030 to meet the demand for grain and feed the expanding population on existing arable land. Herbicide demand will rise significantly to improve crop yield within the same area of arable lands and provide crops with proper nutrients, which will undoubtedly drive the Propylene Tetramer Market growth during the forecast period.

Propylene Tetramer Market Challenges

Health Risks Associated with Propylene Tetramer

Drowsiness and dizziness may be caused by propylene tetramer vapors. Respiratory tract irritation is possible. The following symptoms may be caused by inhalation: Nasal congestion. Cough. Inhaling high vapor concentrations can cause narcosis and CNS depression. High vapor concentrations can cause headaches, dizziness, tiredness, nausea, and vomiting when inhaled. Skin dryness and cracking may result from repeated exposure. Contact with the skin may irritate. Eye irritation may occur, leading to Lachrymation. In addition, if swallowed, it may cause lung damage. Pneumonitis and pulmonary oedema can result from aspiration. Gastrointestinal irritation, nausea, vomiting, and diarrhea may occur after ingestion. During the forecast period, all of these health risks associated with propylene tetramer are expected to be one of the major factors limiting the Propylene Tetramer Market.

Propylene Tetramer Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Propylene Tetramer Market. Propylene Tetramer Market top 10 companies are:

1. Parchem
2. Oronite
3. TPC Group
4. Beyond Industries (China) Limited
5. Jinan Boss Chemical Industry
6. ExxonMobil Chemical
7. Sunoco Chemicals
8. Dow Chemical Company
9. SI Group
10. Janex SA

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