Propylene Oxide Market –Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030 is anticipated to reach USD 26.6 billion by 2030. According to this report, increased use of polyurethanes in sealants, thermal insulators, and flooring will fuel industry growth over the next seven years. Increased global infrastructure spending is expected to drive demand over the forecast period. In addition to industry growth, Propylene Oxide market penetration is expected to rise above the forecast level. On the other hand, increasing Investment by the major players in new environmentally friendly techniques to produce Propylene Oxide will create more opportunities that will result in the growth of the Propylene Oxide market over the forecast period.
The market report on Propylene Oxide Market includes in-depth insights as:
- The estimated value of the market was USD 16.12 billion in the year 2020.
- Propylene Oxide in Europe held the largest market share in the year 2020.
- Based on, Application, Polyether Polyols, emerged as a key segment in the Propylene Oxide market.
- Based on Process, Chlorohydrin emerged as a key segment in the Propylene Oxide market.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“Propylene glycol is widely used as a construction chemical for paints, grouts, adhesives, caulking materials, and coatings in both infrastructure and the construction industry. Another industry that is booming recently is the automotive industry, which directly benefits the Propylene Oxide as the products are used in a range of components such as flexible foams, paints, adhesives, and sealants. Thus, it can be said that the Propylene Oxide is inextricably linked with the automotive industry”, according to this report
Propylene oxide (PO) is a highly reactive organic chemical that is useful as a chemical intermediate in the manufacture of various commercial materials. It is a bulk chemical that can be produced through several technologies. Propylene oxide is crucial raw material. Propylene Glycol Production Material. In recent years, propylene glycol production has seen a significant increase due to its increasing number of uses in a wide variety of end-use industries such as food and beverage, pharmaceutical, chemical, and others. Propylene glycol is used as a chemical raw material for the production of unsaturated polyester resins, vaporizers for the supply of pharmaceutical and personal care products, humectants in hand disinfectants, deicing agents in airplanes, and solvents for many substances.
The Propylene Oxide Market is segmented by Application into Polyether Polyols and Propylene Glycol. The Polyether Polyols segment is projected to grow at the highest CAGR from 20202 to 2030. The growth in this segment is due to the increasing demand for polyurethane foams from various end-use industries such as automotive, construction and construction, textiles and furniture, and packaging. Polyether polyols are mainly used in polyurethane foams. Applications such as furniture, bedding, and car seats, as well as under the carpet. Rigid foam is widely used in the construction industry, where it is mainly used for insulation. Rigid foam is also used in commercial refrigeration and packaging
Key Players in the Market
- Some of the key players operating in the Propylene Oxide Market are The Dow Chemical Company, LyondellBasell Industries Holdings B.V., LyondellBasell Industries Holdings B.V., SK Chemicals, BASF SE, Huntsman International LLC., AGC Chemicals, Sumitomo Chemicals Co., Royal Dutch Shell Plc., Huntsman Corporation.
Get Valuable Insights into Propylene Oxide Market.
In the new report, CRI Report thrives to present an unbiased analysis of the Propylene Oxide Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Propylene Oxide market is segmented By Application into Polyether Polyols, Propylene Glycol; By Process Chlorohydrin, Styrene Monomer, TBA Co-Product, Cumene-based, Hydrogen Peroxide; By End-Use Industry into Automotive, Building & Construction. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.