In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Piperylene is high volatile, flammable organic compound which consists five carbons chain with two double bonds. Piperylene also known as 1,3-pentadiene. Generally it is derived from the crude oil extraction via several numbers of extractions. It is produced as a by-product during the ethylene manufacturing and combustion of biomass. Piperylene is colorless liquid with unpleasant smell.it also consists moderate toxicity which can be harm the biotic components in the environment. Mainly Piperylene is used as an intermediate reactant for the plastic production, adhesive production, and resin production.
Global piperylene market is expected to flourish at a CAGR of 6% over the forecast period. Rising demand of the end product manufactured by the piperylene such as diaper fastenings, parcel tapes, inks and building materials and others is expected to foster the growth of the global piperylene market in upcoming years.
In term of regional market Asia Pacific dominates the overall market and expected to continue its control over the forecast period. Continuously increasing demand of the end product synthesized by piperylene is anticipated to bolster the growth of the piperylene market across the globe. Moreover, growth in plastic and resin industries are believed to open a gateway of opportunities for the companies entering into the business of soft magnetic composites. Healthy outlook of the plastic industries in the region is expected turbocharge the growth of the piperylene market.
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Further, Europe is expected to contribute to the growth of the piperylene market over the forecast period. It has several applications in various sectors such as automotive, aerospace and others which are expected to showcase significant rise piperylene market over the forecast period. The market is mainly expanding on the back of the growth and expansion of plastic industries in the region.
North America piperylene market is expected to grow at a substantial rate over the forecast period. Further, factor such as increase in disposal income, change in life style is expected to be the dynamic factor for the growth of piperylene market.
The piperylene market has been segmented by application such as adhesives, resins, plastics and others out of which resins and plastics segment is anticipated to account for the largest market share in overall piperylene market over the forecast period.
Our in-depth analysis has segmented piperylene market into the following segments:
Piperylene Market is further classified on the basis of region as follows:
Increasing demand of the light weight components of the automobile and aerospace for increasing the fuel economy is anticipated to foster the growth of the Piperylene Market across the globe. . Increasing expenditure in end product made up of plastic with high performance is expected to garner the growth of the piperylene Market during the forecast period. Further, advancement, research & development activities in piperylene increases the demand of the light weight component of the automobile into the market which is expected to positively impact the growth of the piperylene Market across the globe over the forecast period.
Moreover, government strict rules and regulation is expected to restrain the growth of the piperylene market over the forecast period. Further, the chemical properties such as flammability and toxicity in nature badly impact the biotic component may act restraint to the growth of the piperylene market.