Global Propylene Oxide Market is estimated to reach USD 27.24 Billion by 2028, according to a new report by Reports and Data. Propylene oxide is an organic flammable, volatile, and colorless liquid compound that is soluble in both alcohol and ether. The compound is used as an intermediate for the manufacture of various commercial products.
Increase in demand for the product by various end-use industries such as constructions, packaging, automotive, furnishings, and textiles is anticipated to patronize the growth of the market in the coming years. The market is mainly driven by the growth in demand for polyether polyols, rising demand owing to the increase in its applications, huge investment in infrastructural spending, and an increase in the demand for automotive products.
Propylene oxide finds its application in tub-shower, gasoline tanks, and boat hulls. Rise in the consumption of products that include polyalkylene glycols, popylene glycols, and propylene glycol ethers will propel market expansion. High consumption in lubricants, defoamers, greases, oil-field chemicals, latex paints, wetting agents, and water scavengers will increase the revenue generated by the market.
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Prominent players analyzed in the report are :
Raytheon Company, Lockheed Martin Corporation, Boeing, Israel Aerospace Industries, BAE Systems Plc., MBDA, Kongsberg Group, Rafael Advanced Defense Systems Ltd., L-3 Technologies Inc., and FN Herstal S.A among others.
Further key findings from the report suggest
Polyether polyols are forecasted to have the highest CAGR of 6.6% during the forecast period owing to its high demand in cushioning and insulation foams in automotive.
Glycol Ethers is forecasted to hold the market share of 22% in the year 2028. They are used in cleaners, degreasers, adhesives, and aerosol paints.
Glycol Ethers growth in the market is mainly due to the switch of solvent-based coatings to water-based coatings. Water-based coatings use glycol ethers as their coalescing agent.
Chlorohydrin Process is forecasted to have a CAGR of 6.6% during the forecast period. It involves the reaction of propylene and chlorine in the presence of water to produce the two isomers of propylene chlorohydrin.
The Dow Chemical Company is the sole manufacturer to use the chlorohydrin process in the U.S. Across the globe; it is used by several more companies in various countries.
Chemical and pharmaceutical held the largest market share of 21% in the year 2020.
Building and construction are forecasted to hold a market share of 14% in the year 2028. Propylene Oxide is used in adhesives, grouts, paints, coatings, waterproofing materials in both the construction and infrastructure industry.
Increase in construction in emerging, and developed nations such as China, India, Brazil, Saudi Arabia, UAE, and Qatar will influence the growth of the market.
Propylene oxide is also used in various end-use products such as hydraulic fluids, automotive coolants, engineering fibers, and plastics. It is also beneficial in areas such as flame retardants, fumigates, textile surfactants, and modified starch.
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Key Contents of the Global Propylene Oxide Market Report:
Market Overview
Research Methodologies
In-depth study of the latest market trends, growth drivers, emerging opportunities, and potential threats and challenges
Demand supply gap analysis
Detailed market segmentation
Regional and country-wise market segmentation
Market projections in terms of regional and global market revenue growth rate over the forecast period
Company profiling of the key market players and details on their key business strategies and recent developments
Market share analysis of the top companies in the market
Strategic recommendations for new market entrants
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On the basis of types, the segmentation covers:
Chlorohydrin Process
Styrene Monomer Process
Hydrogen Peroxide Process
TBA Co-Product Process
Cumene-based Process
Others
On the basis of application spectrum, the market is segmented into :
Polyether Polyols
Propylene Glycol
Glycol Ethers
Others
Regional analysis covers the following key regions:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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