Research Nester published a report titled “Propylene Oxide Market: Global Demand Analysis & Opportunity Outlook 2025” which delivers detailed overview of the propylene oxide market in terms of market segmentation by production process, end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Driven by increasing application of propylene oxide as a chemical intermediate, the propylene oxide market is estimated to witness significant growth in upcoming years. The market accounted for a value of USD 13875.7 million in 2019, and is expected to grow at a CAGR of 4% during the forecast period of 2021-2025. The market is segmented on the basis of production process into chlorohydrin process, styrene monomer process, hydrogen peroxide process, TBA co-product process, and cumene-based process, out of which, it is projected that the chlorohydrin process (CPHO) will account for a market value of around USD 4920.6 million by 2020. CHPO is the oldest process used in propylene oxide processing and held the highest market share in 2019.
Based on region, the propylene oxide market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa region, out of which, the market in Asia Pacific is projected to witness highest growth. China, India, Japan, Australia, and Southeast Asian nations are some of the main contributing nations in this region. Propylene oxide are widely used in end-use industries, such as automotive, manufacturing, food & beverage, and others. Moreover, an increase in the demand for propylene oxide in countries such as China, India, Vietnam, the Philippines and Indonesia is projected to trigger the demand for propylene oxide in the region.
In Europe, the global demand for propylene oxide is projected to account for a value of USD 4199.5 by 2025, rising over the forecast period at a CAGR of 2.8 percent. Owing to its increasing adoption in end-use industries such as building & manufacturing, vehicles, consumer electronics, and packaging, propylene oxide has gained prominence in the European market. The construction industry is among the largest consumer of propylene oxide in Europe. The growth of the market has also been enhanced by the increasing adoption of Fibre Reinforced Polymers (FRP) in the residential and commercial construction sectors in the region.
Increasing Use Of Propylene Oxide As A Chemical Intermediate to Drive Market Growth
Increased demand for propylene oxide for the manufacturing of chemical intermediates, in particular for the polyurethane and solvent industries, is a key factor that is expected to fuel the market growth during the forecast period. Propylene oxide is mostly used for the manufacturing of polyether polyols, which are a primary precursor to polyurethane processing. Polyurethane has a wide variety of applications such as upholstery for clothing, thermal insulation, vehicle parts, fabrics for painting and sporting goods. This factor is expected to fuel the growth of the global propylene oxide market over the forecast period.
However, potential carcinogenicity linked with the application of propylene oxide together with the environmental degradation associated with the chlorohydrin process (CHPO) for the production of propylene oxide are estimated to act as barriers to the growth of the propylene oxide market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global propylene oxide market which includes company profiling of Dow, Balchem Inc (NASDAQ: BCPC), BASF SE (ETR: BAS), Ashland (NYSE: ASH); Alfa Aesar, Thermo Fisher Scientific.; Sumitomo Chemical Co, Ltd. (TYO: 4005), Huntsman International LLC (NYSE: HUN), Lyondellbasell Industries Holdings B.V. (NYSE: LYB), Eastman Chemical Company (NYSE: EMN) among other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global propylene oxide market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.