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Propylene Oxide Market by Application ,Production Process, End-Use Industry And Geography - Global Forecast to 2026

Propylene Oxide Market by Application ,Production Process, End-Use Industry And Geography - Global Forecast to 2026

  • July 2021
  • 193 pages
  • ID: 5076311
  • Format: PDF
  • MarketsandMarkets

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The propylene oxide market is projected to grow from USD 22.5 billion in 2021 to USD 29.5 billion by 2026, at a CAGR of 5.6% from 2021 to 2026. The increasing demand for polyether polyols for the production of polyurethane is expected to increase the demand for propylene oxide over the next few years.
Increase in demand for polyurethane from the healthcare industry is expected to open new revenue pockets for the propylene oxide market. However, the impact of COVID–19 on the automotive and construction industries may restrain the market growth.

Polyether polyols application segment is projected to lead the propylene oxide market during the forecast period.
Based on application, the polyether polyols segment is estimated to grow at the highest CAGR during the forecasted period.Polyether polyols are manufactured by the catalyzed addition of epoxides to propylene oxide or ethylene oxide.

They are mainly used in the manufacturing of polyurethanes (flexible foams).Polyether polyols are a class of organic chemicals that contain multiple ether linkages and have multiple hydroxyl groups.

The majority of polyether polyols are used in the manufacturing of urethanes and other products, such as surface-active agents, functional fluids, and synthetic lubricants.

Building & Construction is the second-largest end-use industry segment propylene oxide market.

Based on the end-use industry, the building & construction segment accounted for the second-largest share in the propylene oxide market.Building & construction industry is one of the major end-use industries of propylene oxide.

In this end-use industry, fiber-reinforced plastics (FRPs) are used primarily for manufacturing building panels, bathroom components, fixtures, corrosion-resistant tanks, and pipes and ducts.These FRPs are produced by reinforcing nearly three–quarters of unsaturated polyester resins (UPR) with fiberglass or mineral fillers.

UPR are made from monopropylene glycol (MPG), which is obtained from propylene glycol.

Asia Pacific is projected to grow the highest CAGR in the propylene oxide market during the forecast period.
Asia Pacific is projected to grow at the highest CAGR in the propylene oxide market from 2021 to 2026.Increasing demand for propylene oxide from the polyether polyols and propylene glycol application segments is a major factor driving the Asia Pacific propylene oxide market.

China is projected to be the world’s largest consumer of propylene oxide during the forecast period.The country has witnessed capacity expansion projects by companies, such as Royal Dutch Shell plc (Netherlands) in recent times.

This capacity expansion will enable the production of an additional 300 kilotons of propylene oxide and 600 kilotons of polyols in the country.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 30%, Tier 2 – 35%, and Tier 3 – 35%
• By Designation: C-level Executives – 30%, Directors – 60%, and Others – 10%
• By Region: Asia Pacific – 40%, Europe – 15%, North America – 30%, the Middle East & Africa- 10%, and South America – 5%

Furthermore, as a part of the qualitative analysis of the propylene oxide market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players such as Dow Inc. (US), LyondellBasell Industries Holdings B.V. (Netherlands), Royal Dutch Shell PLC (Netherlands), BASF SE (Germany), SKC Company (South Korea), AGC Inc. (Japan), Repsol (Spain), Sumitomo Chemical Co., Ltd. (Japan), Tokuyama Corporation (Japan), Indorama Ventures Public Company (Thailand).

Research Coverage:
The report defines, segments, and projects the size of the propylene oxide market based on application, production process, end-use industry, and region.It strategically profiles the key players and comprehensively analyzes their market share and core competencies.

It also tracks and analyzes competitive developments such as acquisitions, agreements, expansions, and joint ventures undertaken by them in the market.
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the propylene oxide market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the propylene oxide market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies.

It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.

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