One of the worst recessions since World War II occurred as a result of the COVID-19 pandemic. The emergence of the COVID-19 pandemic has also had a devastating effect on the world propylene market. The building and construction, transportation, electrical, and electronics industries—which are significant end-user businesses for the propylene market—were severely hampered as a result of the strict lockdowns enforced by numerous countries throughout the world.
Due to decreased discretionary spending, restrictions on supply and transportation, manufacturing closures, and a global slowdown in infrastructure building activities, these industries are seeing a dramatic reduction in both demand and production. Nonetheless, the packaging industry saw a sharp increase in propylene demand as a result of the pandemic's impact on e-commerce. Nonetheless, the Propylene Market growth is anticipated to rebound throughout the projection period because to the better market conditions in the post-Covid era.
