Propylene Oxide - Global Market Outlook (2017-2023)
According Stratistics MRC, the Global Propylene Oxide Market is expected tgrow from $12.54 billion in 2016 treach $19.72 billion by 2023 with a CAGR of 6.7%. Growing demand from the major end-use industries such as automotive, construction, packaging, textile and furnishing is projected tpositively influence the global propylene oxide market over the forecast period. The global propylene oxide market is mainly driven by growing demand for polyether polyols, increasing applications of propylene oxide, rising demand for polyether polyols for the production of polyurethanes, huge infrastructural spending in emerging regions and increasing demand for automotive products. Restraints for the global propylene oxide market include high raw material prices, toxic nature of propylene oxide, emerging alternatives of propylene oxide and negative effects on environment and human health.
Propylene oxide is primarily used as intermediate chemical in production of rigid foams, injection moldings, adhesives, coatings, flexible foams and elastomers. Increasing consumption of the propylene oxide in the production of polyalkylene glycols, propylene glycol ethers and propylene glycols is further expected tboost up the global propylene oxide market. Propylene oxide is used tmanufacture flexible foams for furniture, bedding, carpet underlay and seat cushioning in automotive applications; and polyurethanes tproduce rigid foams for thermal insulation in the construction industry, packaging & commercial refrigeration.
Chlorohydrins process is the largest manufacturing processes segment of the propylene oxide market. Chlorohydrins process is the oldest production process and it is used by several companies in production of propylene oxide. Whereas, hydrogen peroxide process segment is expected tgrow at the highest CAGR from 2016 t2023 due ttechnological developments by top market players for the production of propylene oxide. By application, the polyether polyols segment dominated the market in 2016 due tgrowing demand for polyurethane foams which are used in construction, textile and automotive applications.
Growing demand for propylene oxide from major end-use industries is touted tbolster the global market growth over the forecast period. High growth in building & construction industry in India, China, Brazil, Qatar, Saudi Arabia and UAE in the past few years is expected tbolster the global propylene oxide market. Furthermore, automotive industry is projected tgrow rapidly in emerging countries such as India, China, Mexicand Brazil, thereby aiding the market growth.
Asia pacific is currently the largest market and is expected tdominate over the forecast period owing tits demand from various verticals such as building & construction, packaging, automotive and textile & furnishing. In addition, emerging manufacturing base for propylene oxide in China, and extensive availability of raw materials in China and India is likely tpropel the demand for propylene oxide in this region. North America is expected twitness considerable growth due ttechnological advancements by key players and growing automotive and electronics sectors.
Some of the key companies profiled in the report include Asahi Glass Co., Balchem, BASF SE, DOW Chemical Company, Huntsman International, Ineos Group Limited, Lyondellbasell Industries Holdings, Manali Petrochemical Limited, Repsol, Royal Dutch Shell, Saudi Arabia Basic Industries Corporation, SKC, SumitomChemicals Cand Tokuyama Corporation.
Manufacturing Processes Covered:
• Chlorohydrin Process
• Cumene-based Process
• Hydrogen Peroxide Process
• Styrene Monomer Process
• TBA Co-Product Process
• Glycol Ethers
• Polyether Polyols
• Propylene Glycols
• Other Applications
• Chemical & Pharmaceutical
• Building & Construction
• Textile & Furnishing
• Other Verticals
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements