Propylene Oxide Market Forecasts report provided to identify significant trends, drivers, influence factors in global and regions, agreements, new product launches and acquisitions, Analysis, market drivers, opportunities and challenges, risks in the market, cost and forecasts to 2026.
The global propylene oxide market is estimated to reach $29.5 billion in 2026 from $22.5billion with a CAGR value of 5.6% during the projected period. The rising demand for polyether polyols for producing polyurethane will raise the demand for propylene oxide over the years.
Key Market Players:
The research report provides an extensive analysis of key market players thriving in the propylene oxide market with their recent developments, revenue share, company profile, restraints, and more. Some of the leading market players are 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), Dow Inc. (US), LyondellBasell Industries Holdings B.V. (Netherlands).
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The growth in demand for polyurethane in the healthcare industry will open new ways for the propylene oxide market and boost the propylene oxide market in upcoming years. Unfortunately, the sudden outbreak of Covid-19 has impacted the construction, and automotive industries are the drawback that will affect the propylene oxide market growth.
By Application: Polyether polyols segment to dominate the propylene oxide market
The polyether polyols segment will dominate the propylene oxide market during the forecast period. Polyether polyols are the basic raw materials utilized for producing polyurethane foam. They are manufactured by the catalyzed addition of the epoxides to ethylene oxide or propylene oxide. Based on application, globally, polyurethane foam has witnessed an increase in adoption from end-users due to its utility and versatility. Polyether polyols are a class of organic chemicals that contain multiple hydroxyl groups and ether linkages. Many polyether polyols are utilized to manufacture urethanes and other products like surface-active agents, functional fluids, and synthetic lubricants. Therefore, the demand for polyether polyols will continue in upcoming years that will propel the propylene oxide market.
By end-use: The construction and Building segment is the second-largest segment
By end-user, the construction and building segment is the second-largest segment of the propylene oxide market. In the end-use industry, fiber-reinforced plastics are used for manufacturing bathroom components, building panels, fixtures, ducts, corrosion-resistant tanks, and pipes. These FRPs are produced by reinforcing three-quarters of unsaturated polyester resins(UPR) with mineral fillers or fiberglass.
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By region: APAC to witness highest CAGR
Due to rising demand for propylene oxide from the polyether polyols and propylene glycol segment Asia Pacific region will witness the highest CAGR in the propylene oxide market during the estimated period. China is the largest consumer of propylene oxide and has noticed capacity extension projects by leading companies like Royal Dutch Shell plc(Netherlands). This capacity extension will allow an additional 300 kilotons of propylene oxide and 600 kilotons of polyols in the country.
Research Report covers:
The research report provides in-depth insights into the propylene oxide market and its size, share, and closest approximation of revenue. It segments the market by type, application, and region. It comprehensively analyzes core competencies, challenges, market drivers, and restraints. It also provides information about key market players such as their company profiles, product launches, mergers and acquisitions, and recent developments.
The report incorporates detailed information of the world’s major regions, including North America, Asia Pacific, Latin America, Europe, Middle, and East Africa. The market is segmented on region and country levels to understand the competitive geographies of the propylene oxide market. Moreover, it offers a qualitative and quantitative analysis of the market, which helps businesses to plan robust market strategies.
Why Should you buy a report?
– The report helps to understand market drivers, restraints, challenges, and opportunities of the market
-It provides market strategies that will help businesses to tackle Covid -19 impact
-It provides information about the competitive landscape that helps businesses to make suitable market strategies.
-It provides different types of analysis like SWOT analysis, Porter’s five force analysis, pricing analysis, and PEST analysis to thrive in business successfully.
-It keeps updated with key market trends and provides analysis of the impact of the covid-19 pandemic on significant regions of the world.
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