According to MarkNtel Advisors study the Global Propane Dehydrogenation (PDH) to Propylene Market size is estimated to grow at a CAGR of around 9.20% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: Propane Dehydrogenation (PDH) to Propylene market
Global Propane Dehydrogenation (PDH) to Propylene Market Driver:
Increasing Demand for Propylene in the Consumer Goods Industry to Drive Market Growth – Over the past few years, the e-commerce area in nations like India, Saudi Arabia, the UAE, and many others has significantly improved due to better internet penetration & the changing customer desire for quick commerce. For instance,
- In the year 2022, according to Dubai CommerCity, investments in infrastructure to boost e-commerce growth, such as internet connectivity, data centers, and logistics, have led to a remarkable 33% increase in e-commerce sales from 2019 to 2022.
The rising inclination of consumers has additionally led to the release of numerous online e-commerce systems like Squarespace, Bigcommerce, etc., and the booming trend of Quick-commerce has in addition extended the demand for plastic-based packaging. In addition, these plastic-based packaging products are generally inexpensive, readily available, and protect the products from breaking and leakage. Therefore, quick commerce companies have been offering their products in plastic packaging.
This intensifying requirement for plastic-based packaging has augmented the demand for propylene & its derived products since they are needed in plastic manufacturing. As a result, chemical industries like Mitsubishi, Saudi Polyolefin Co. (SPC), etc., in countries such as China, India, etc., have been increasingly producing on-purpose propylene by opting for PDH technology, thus driving the Global Propane Dehydrogenation (PDH) to Propylene Market.
Moreover, several countries across the globe are actively implementing many initiatives to enhance and solidify their position as a hub for global e-commerce. For instance,
- In the year 2022, Saudi Arabia’s Ministry of Commerce launched 10 new initiatives to develop e-stores in the country.
Through these initiatives across different countries, the demand for packaging solutions is further projected to increase, which would augment the size & volume of the Propane Dehydrogenation (PDH) to Propylene Market in the coming years.
Global Propane Dehydrogenation (PDH) to Propylene Market Challenge:
High Capital Investment Hinders Market Growth & Development – The requirement of high capital investment due to factors such as the complex infrastructure of the PDH plants that comprise reactors, catalysts, separation units, etc., has been limiting the adoption of PDH technology by small-scale enterprises. The components, like compressors, reactors, etc., that are required in the plants to work with the PDH solutions are relatively more expensive than the traditional production method. As a result, small-scale industries have been preferring conventional methods in place of PDH technology to produce propylene, thus restraining market growth.
In addition, PDH units are large-scale manufacturing units, requiring remarkably substantial investments for the construction & installation of the right components. Thus, small-scale enterprises have preferred the most cost-effective solution and generally opted for the traditional process. Additionally, the energy consumption by the PDH units is also quite high, since the propylene production process requires a high amount of heat and electricity. Hence, the requirement for large-scale energy infrastructure also posed an issue for small-scale enterprises to adopt PDH technology, which has been hindering market growth.
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Scope of the Report and Propane Dehydrogenation (PDH) to Propylene Market Segmentation:
By Technology
- CATOFIN – Market Size & Forecast 2019-2030, (USD Million)
- UOP Oleflex- Market Size & Forecast 2019-2030, (USD Million)
- Fluidized Catalytic Dehydrogenation (FCDh)- Market Size & Forecast 2019-2030, (USD Million)
- Steam Active Reforming (STAR)- Market Size & Forecast 2019-2030, (USD Million)
- Fluidized Bed Technology (K-Pro)- Market Size & Forecast 2019-2030, (USD Million)
By End-User
- Small & Medium-scale PDH Plants (0.1-0.6 metric tons per year)- Market Size & Forecast 2019-2030, (USD Million)
- Large-scale PDH Plants (>0.6 metric tons per year)- Market Size & Forecast 2019-2030, (USD Million)
Of them all, the CATOFIN technology has a long-standing track record of having the highest market share due to successful commercial operations.
Propane Dehydrogenation (PDH) to Propylene Market Development:
- In 2023, Lummus Technology was selected by Alujain National Industrial Co., based in Saudi Arabia, to provide C3 CATOFIN propane dehydrogenation (PDH) technology for their new propylene plant in Yanbu, Saudi Arabia.
- In 2022, Lummus Technology, in partnership with Clariant, a specialty chemical manufacturer, announced the successful operation of the CATOFIN PDH unit in China to fulfill the requirement for on-purpose propylene.
Geographical Analysis:
By Region
- North America
- Europe
- The Middle East & Africa
- Asia-Pacific
Among all of them, Middle Eastern & African countries like Saudi Arabia, Qatar, etc., have an abundance of natural gas reserves, which contribute significantly to market growth due to the amounts of propane present here.
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