Global Piperylene Market Is Expanding Owing to Increasing Use of Plastic and Resin and Rising Demand for End-Products Like Parcel Tapes and Diapers


Overview:

Piperylene is a volatile, flammable hydrocarbon and one of the five positional isomers of pentadiene. It is an important starting compound used in the manufacturing of plastics, adhesives and resins. It has excellent thermal properties that make it a good alternative to ethylene and propylene. It can be used as a starting material in the production of hot melting and pressure sensitive products. These products include road marking paint, waterproof coatings, building materials and printed circuit boards. The growth of the market is attributed to the upsurge in the demand for a variety of applications including adhesives, resins, and plastics. This growth is also attributed to the increase in the use of hot melting and pressure sensitive products such as road marking paints, waterproof coatings, building materials, and printed circuit boards.

Market Dynamics:

Increasing technological advancements are estimated to augment growth of the global piperylene market over the forecast period. For instance, in February 2023, Chevron Phillips Chemical and Charter Next Generation declared that their overwrap film made with CPChem’s Marlex® Anew™ Circular Polyethylene will be brought to retail store in the U.S. This overwrap film will help in preserving food items and medical equipment, and also keep them sterile. Moreover, toxic nature and high flammability are is anticipated to restrain growth of the global market during the forecast period.

According to Coherent Market Insights the Piperylene Market Size, Share, Outlook, and Opportunity Analysis, 2022-2028.

Impact of COVID-19:

COVID-19 was first reported in 2019 and this public emergency was transmitted to many countries globally. Countries like Spain Italy, China, India, UAE and many more imposed nationwide lockdowns for avoiding the transmission of the disease. These lockdown hampered the growth of many businesses, and even caused the global economy. Trade activities were hampered, as industries had to halt manufacturing activities. There was a shortage of raw materials in many sectors like automobile, electronics, and chemicals. Skilled professionals were also not available, which again hampered daily operations in many industries. Thus, there was a decrease in demand for piperylene. This hindered the growth of the global piperylene market.

Key Takeaways:

The global piperylene market is expected to witness high growth, exhibiting CAGR of 5.6 % over the forecast period, due to increasing acquisitions among key players. For instance, in February 2023, Eastman Chemical Company acquired Ai-Red Technology (Dalian) Co., Ltd, which is a manufacturer and supplier of paint protection. This acquisition strengthens the company’s ability to deliver superior value specialty materials and also expand their services in the Asia Pacific region.

Asia-Pacific is anticipated to witness significant growth in the global market during the forecast period, owing to rising expansion of automotive and aerospace sectors. Key players active in the global market are Nanjing Yuangang, Sinopec, YNCC, Formosa Chemical, Shandong Yuhuang Chemical, Zeon Corporation, Braskem, LOTTE Chemical, Mitsui, Eastman, and LyondellBasell.


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