propylene oxide market accounted for USD 13.51 billion and is projected to grow at a CAGR of 5.7% during the forecast period of 2020 to 2025. Propylene oxide is a highly reactive chemical intermediate used, for the most part, in the manufacture of polyether polyols for urethanes, propylene glycols, glycol ethers, 1,4-butanediol, and polyalkylene glycols for a variety of chemical intermediates and functional fluids.
There is a growing demand for propylene oxide in automotive, building & construction, chemical & pharmaceutical, textile & furnishing, packaging and electronics industrial activates, which is expected to be one of the major drivers of the market over the next seven years.
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Major Market Competitors: Global Propylene Oxide Market
Some of the major players in propylene oxide market LyondellBasell Industries Holdings B.V., The Dow Chemicals, SK Chemicals, Royal Dutch Shell, Sumitomo Chemical Co., Ltd., BASF SE, Huntsman International LLC., AGC Chemicals, Repsol, CSPC Pharmaceutical Group Limited, Air Liquide, Air Products and Chemicals, Inc., China Petrochemical Corporation, Eastman Chemical Company, Mitsui Chemicals, Inc., LOTTE CHEMICAL CORPORATION, PetroChina International Co., Ltd., Ineos Group Limited, Tokuyama Corporation, Hanwha Group and many more.
Market Segmentation: Global Propylene Oxide Market
The propylene oxide market is segmented on the basis of production process into chlorohydrin, styrene monomer, TBA co-product, hydrogen peroxide and cumene-based.
- On the basis of application, the market is segmented into polyether polyols, propylene glycol, glycol ethers, and others.
- On the basis of end-user, the market is segmented into automotive, building & construction, chemical & pharmaceutical, textile & furnishing, packaging, electronics and others.
- On the basis of geography, the propylene oxide market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
Competitive Landscape: Global Propylene Oxide Market
The global propylene oxide market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Drivers:
- Rising demand for propylene oxide from end-use industries
- Demand for polyether polyols for the production of polyurethanes
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Market Restraint:
- Toxicity of propylene oxide
- New bio-based feedstock for polyurethane
- Price volatility of raw materials
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