Propylene Oxide Market: Global Industry Analysis, Trends, Market Size & Forecasts up to 2023
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Published : November, 2017
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Rep Id : CM0138
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Category : Chemicals & Materials
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Status : Published
Published : November, 2017
Rep Id : CM0138
Category : Chemicals & Materials
Status : Published
Propylene oxide is a clear colorless, low
boiling, highly volatile liquid with an ethereal odor. It is highly flammable
and reactive. Propylene oxide is traditionally made by chlorohydrins and
epoxidation path but modern way of producing propylene oxide is based on
hydrogen peroxide. Propylene oxide is primarily used for the production of
numerous commercial materials such as cosmetics, fragrance, solvents, carriers,
humectants, residential & commercial construction and surfactants.
Figure 1: Global Propylene Oxide Market by Value 2015 - 2023
Market
Insights
The global propylene oxide market was sized
over USD XX billion in 2015. The global propylene oxide market is projected to
grow with a CAGR between 3.0% and 3.5%. Increasing demand for polyether
polyols, which is mainly used in the production of polyurethanes and for
several end user applications such as packaging, footwear, construction and
furniture is the prime factor driving the growth of global propylene oxide
market. Furthermore, huge demand for propylene glycol as a construction
chemical to be used in paints, adhesives, waterproofing material and coatings
will drive the propylene oxide market globally over the forecast period.
Moreover, rising demand for polyurethanes
in the automotive industry, sealants and thermal industries which in turn drive
the global propylene oxide market as polyurethanes are manufactured using
propylene oxide. However, toxic nature of propylene oxide and volatility in raw
material prices required for the manufacturing of propylene oxide are the key
factors restraining the growth of global propylene oxide market over the
forecast period. Nevertheless, rapid industrialization linked with increasing
disposable income and growing manufacturing base in developing economies will
bring more opportunities to the global propylene oxide market. Hence, emerging
substitutes for propylene oxide such as alkylene carbonate will be the major
challenge faced by the global propylene oxide market over the forecast
period.
Segments
Covered:
The report segments the propylene oxide market
by application, by production process and by region. Market segmentation based
on application includes propylene glycol, polyether polyols, di-propylene
glycol, glycol ethers and others. Moreover, the global propylene oxide market
based on production process is segmented into chlorohydrin process, propylene
oxide only cumene-based process, propylene oxide (PO)/tertiary butyl alcohol
(TBA) process, propylene oxide (PO)/styrene monomer (SM) process, hydroperoxide
process and others.
Geographic
Coverage and Analysis:
The report provides regional analysis
covering geographies such as North America, Europe, Asia-Pacific, Latin America
and Rest of the World. In this section the key trends and market size for each
geography is provided over the period of 2017 – 2023.
Figure 2: Global Propylene Oxide Market by Region
Asia Pacific is the largest region in
propylene oxide market owing to more than 60% market share and is likely to
continue its dominance due to rapid growth in construction and automotive
industry. Moreover, Asia Pacific is likely to grow at the highest CAGR rate
over the forecast period due to increasing production capacity in polyurethanes
and high availability of raw materials for the production of propylene oxide
especially in China and India. North America followed by Europe was accounted as the second largest market in terms of consumption of
propylene oxide in 2016. Moreover, The North America region is likely to witness significant
growth due to increasing automotive and electronic industry across the region over the forecast period.
However, Europe is expected to grow moderately due to stringent environment
& safety regulation and economic slowdown. Nevertheless, RoW and Latin
America propylene oxide market is likely to witness a substantial boom due to
developing infrastructure and increasing end use industries especially in
economies such as Brazil, Mexico and Middle East.
Companies
Profiled:
The companies covered in the report include
LyondellBasell Industries, The Dow Chemical Company, Asahi Glass Company Ltd.,
BASF SE, Royal Dutch Shell, Huntsman International LLC, SABIC, Repsol, Balchem,
INEOS Group Ltd., Nihon Oxirane Company Ltd., Tokuyama Corp. and Manali
Petrochemical Limited.
Report
Highlights:
The report provides deep insights on demand
forecasts, market trends and micro and macro indicators. In addition, this
report provides insights on the factors that are driving and restraining the
demand of propylene oxide globally as well as regionally. Moreover, IGR-Growth
Matrix analysis given in the report brings an insight on the investment areas
that existing or new market players can consider. The report provides insights
into the market using analytical tools such as Porter’s five forces analysis
and value chain analysis of propylene oxide.
Moreover, the study highlights current
market trends and provides forecast from 2017 to 2023. We also have highlighted
future trends in the propylene oxide market that will impact the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight on the market share of the leading players.
Additionally, the analysis highlights rise and fall in the market shares of the
key players in the market. This report will help manufacturers, suppliers and
distributors of the propylene oxide market to understand the present and future
trends in this market and formulate their strategies accordingly.
Global
$5195.00
Global
$5195.00
Global
$5195.00
Global
$5195.00
Global
$5195.00