Piperylene is an organic compound that falls under the class of alkenes with chemical IUPAC name of 1,3 pentadiene. Piperylene compound has an appearance of colorless liquid with acrid odor and is moderately toxic in nature. Piperylene is found as a byproduct during the synthesis and production of ethylene in naptha cracking unit from crude oil.
On commercial level, the Piperylene is regarded as important monomer for the synthesis of adhesives, plastics, resins and intermediates. The end products manufactured using piperylene captures a large market share in application like the manufacturing of parcel tapes, envelopes, diaper fastenings, inks and building materials.
The compound is considered preferred choice as an ingredient in many application industries owing to its properties like high mechanical strength, toughness, and resistance towards corrosion and radiation. The piperylene compound is also used for production of resins required for pressure sensitive and hot melting application such as waterproof coatings, road marking paint and rubber traffic equipment.
The production and consumption of the polymers and derivatives derived from piperylene in terms of volume is dominated by the Asia Pacific, Europe and North America region. In Asia Pacific, developing economies such as China and India are growing at an exceptional pace in past few years and capturing exceptional market share in terms of volume and revenue. However, the countries located in the Western Europe region are expected to drive the utilization of the piperylene based products.
The piperylene market had witnessed the significant growth in demand in the last few years, expected to retain growth in the coming years. The end users of product derived from piperylene are continuously increasing ultimately driving the demand of piperylene.
The investment in developing countries is expected to increase in industries like infrastructure, automobile and aerospace industry in the near future ultimately fuelling the demand for high performance plastics, adhesives and coatings. In order to reduce maintenance and rehabilitation cost, the market players associated in the manufacturing of part in automobile, aerospace and construction industries needs a special class of coating that can provide improved protection for long-term operations.
Adding to this, the automobile and aerospace industries pay more focus on improving the performance and fuel economy by using alternative for heavy metal components. Moreover, Piperylene derived plastics and coatings are capable of addressing specific and tailored industry requirement efficiently expected to create positive impact on the demand of the Piperylene based products..
As piperylene market is innovation driven, the stakeholders in the values chain are focusing on Research & Development in order to develop the innovative products from piperylene. The chemical properties such as high flammability and toxic nature that impact human bodies and respiratory system may act as restraint to the market growth.
Adding to this, the unwanted polymerization may also hamper the adoption of piperylene product in some of the chemical processes. However, the impact is anticipated to be completely complete offset by driving factors in the piperylene market.
The global piperylene Market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). As of 2015. The growth in developed regions such as Western Europe, Japan and North America will be driven by the expansion of industries like aerospace, automotive, and construction.
The APEJ and Latin America region will also register rapid growth due increasing demand for adhesives and resins and increase in manufacturing units mainly in the emerging economies such as China. MEA is also projected to also expand with a significant CAGR over the forecast period
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On the basis of application, the Piperylene Market can be segmented as:
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