Light olefins market is an important part of the overall chemicals market across the globe. Light olefins or propylene and ethylene are an integral part of petrochemicals. Propylene is used for manufacturing acrylic acid, propylene oxide, and other chemical derivatives. Plastic processing, the packaging industry, the furnishing sector, and the automotive industry use several derivatives of propylene. On the other hand, ethylene is used for making ethylene chloride, polyethylene, and ethylene oxide. These derivatives are popularly used in the construction and textile industry, for plastic processing, and packaging.
Demand from the emerging economies of Brazil, India, and China will drive the global light olefins market in the next few years. Though North America has dominated the global light olefins market in the recent past, predictions state that Asia Pacific is expected to overtake it with a good growth rate. Currently, Asia Pacific contributes 34% of the total demand from the global light olefins market. The near future will also witness a stagnant demand for light olefins in areas such as Western Europe, the U.S., and Japan.
The reports on the global light olefins market offer an in-depth insight into the trends and dynamics governing this market. The reports study various factors such as strengths, weaknesses, opportunities, and threats that this market faces. They also evaluate the demand and supply relation and the gives a forecast for the production in key regions. The reports give a 360-degree view of the various aspects integral to the functioning of this market. They have been compiled by using a primary and a secondary research method by various industry experts.