About Propylene Oxide
Propylene oxide is an organic, colorless, and volatile liquid at normal temperature and pressure. It is manufactured from raw materials, such as propene, isobutene, propanol, and butanol. The compound is highly flammable and reactive. It reacts violently with ammonia, chlorine, and strong oxides and acids causing fire and explosion hazards. It is generally used as an intermediate to produce numerous commercial materials. The largest application of propylene oxide is for deriving polyether polyols and propylene glycols. Polyether polyols are one of the main components used in the manufacture of polyurethanes that are widely used in apparel, building and construction, composite wood, and automotive applications.
Technavio’s analysts forecast the global propylene oxide market to grow at a CAGR of 3.71% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global propylene oxide market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of propylene oxide.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Propylene Oxide Market 2017-2021
Technavio recognizes the following companies as the key players in the global propylene oxide market: Asahi Glass, BASF, The Dow Chemical, Huntsman International, and Royal Dutch Shell
Other Prominent Vendors in the market are: INEOS, Balchem, SKC, Sumitomo Chemical, Viswaat Chemicals, Repsol, LyondellBasell Industries, SABIC, and Tokuyama.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Advances in technology. Propylene oxide is used as an intermediate in the manufacture of many chemical products, such as propylene glycols and polyether polyols. However, the production processes involved in the manufacture of propylene oxide, chlorohydrin, and styrene monomer process have many disadvantages. For example, the chlorohydrin process generates an enormous amount of salt water waste and chlorinated by-products.”
According to the report, one of the major drivers for this market is Rise in the demand for polyurethane applications. Polyurethanes are made from propylene oxides. The polyurethane market mainly drives the global propylene oxide because of the demand from its end-users and its various applications. It has unique properties when compared with that of rubber, metal, or plastic.
Further, the report states that one of the major factors hindering the growth of this market is Volatility in raw material prices. The prices of crude oil affect the manufacturing cost of many chemicals. Propylene oxide is generally derived from propylene or propanol that is again derived from crude oil. Hence, the price of propylene oxide is directly dependent on crude oil prices. Generally, vendors face many problems because the supply of the raw materials, fluctuations in demand, and the pricing volatility are dependent on the propylene oxide market. Chemicals involved in the manufacture of propylene oxide are also derived from crude oil, which is impacting the propylene oxide production.
Asahi Glass, BASF, The Dow Chemical, Huntsman International, Royal Dutch Shell, INEOS, Balchem, SKC, Sumitomo Chemical, Viswaat Chemicals, Repsol, LyondellBasell Industries, SABIC, and Tokuyama.