인도의 프로필렌 시장 규모는 2024년에 695만톤으로 평가되었고, 2032년에는 1,103만톤에 달할 것으로 예측되고 있습니다. 산업용 페인트, 핫멜트 접착제, 플라스틱 및 고무 가공 보조제, 바디 케어 제품, 금속 주조, 의약품 및 전기 절연의 제조에서 사용량이 증가함에 따라 시장은 2025년부터 2032년까지 예측 기간 동안 CAGR 5.95%로 성장할 것으로 전망됩니다.
또한, 프로필렌의 거의 3분의 2는 폴리프로필렌의 제조에 이용됩니다. 폴리프로필렌은 의류, 플라스틱 조리개 병, 야외 가구 등의 제조에 사용되는 플라스틱 수지입니다. 마찬가지로 자동차 부품, 보트, 가구, 가전제품, 솔벤트도 프로필렌 옥사이드로 만들어져 프로필렌 수요가 증가하고 있습니다.
인도는 세계 수요의 높이에서 새로운 폴리프로필렌 공장 설립에 대한 투자가 대량으로 유입되고 있습니다. 인도는 이미 프로필렌 제조·수출의 톱 5에 들어가 있어 새로운 투자와 프로젝트에 의해 2028년도 말에는 세계 제2위의 제조업체가 될 전망입니다. 가장 큰 프로젝트는 인도를 기반으로 하는 화학제품 및 석유화학제품 콩그로말리트인 Reliance Industries(RIL)가 잼나가르에 프로필렌을 제조하는 완전한 원유에서 화학제품으로의 정제소를 개발하는 것입니다. 이 프로젝트에는 87억 달러가 투입되어 2027년까지 건설이 완료될 예정입니다.
위에 언급된 회사는 시장 점유율에 따른 순위를 보유하지 않으며 조사 작업 중 이용 가능한 정보에 따라 변경될 수 있습니다.
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