According to ChemAnalyst report, “Global Propylene Oxide (PO) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, The Propylene Oxide (PO) market has grown remarkably in the historic period of 2015-21 and is estimated to further grow at a steady CAGR of 5.63% in the forecast period.
Propylene Oxide (PO) is a colourless and volatile liquid with chemical formula CH3CHCH2O. PO can be synthesized by the traditional chlorohydrin of the hydroperoxide process. In the chlorohydrin process, propylene reacts with chlorine and water to form propylene chlorohydrin, which is converted into PO by reaction with sodium or calcium hydroxide, along with formation of a chloride salt. Whereas in the hydroperoxide process, ethylbenzene or isobutane is oxidized to hydroperoxide, after which propylene and the hydroperoxide are further reacted to produce PO with significant amounts of styrene monomer or t-butanol co-products. PO finds application as a solvent to manufacture dipropylene glycol and glycol ethers, which are further used to make lubricants, detergents, and oil demulsifiers as well as herbicides and solvents. Additionally, propylene oxide is also used in the fumigation of foodstuffs like cocoa, starch, processed nutmeats, and some spices. PO is used as an important feedstock to manufacture Polyether Polyols, Propylene Glycol, Glycol Ethers, etc. The major raw ingredient for unsaturated polyester resins, particularly in the textile and construction industries, is propylene glycol. Additionally, it is utilized in foods, medicine, and cosmetics as an emollient, solvent, and humectant. Its other applications include plasticizers, hydraulic oils, antifreeze, varnishes, heat transfer, and dicing agents for airplanes.
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The primary purpose of the propylene oxide (PO) market is as a source of raw materials for the production of polyether polyols, which are then used to create polyurethanes. In the construction industry, polyurethane foams are widely utilised for a variety of uses such gap filling, sealing, and installing doors and windows in structures. The sealing reduces heat losses and energy consumption, which lowers heating costs. The expanding use of polyurethanes in flooring, adhesives, and thermal insulators will probably cater the expansion of the PO market in the upcoming years. High-quality foam seats, B-pillars, stiff foam insulation panels, suspension insulators, bumpers, and other interior elements of passenger cars are all also other applications polyurethane in the automobile industry.
due to the enormous global demand for packaged foods and beverages. It keeps food products fresh longer and increases their shelf life. The popularity of the Propylene Oxide (PO) product has increased as a result of growing urbanization and the rise in the number of working-class individuals. Due to longer workdays and a need for nutrient-rich food, consumers are choosing packaged foods over prepared meals, which is anticipated to further expand the Propylene Oxide (PO) market in the forecast period. In addition, its usage in the plasticizer industry is also a potential growth segment for the forecast period owing to consistent advancements in the global plastic industry.
The Propylene Oxide (PO) market is segmented based on end-use, sales channel, and region. Based on the end-user industry, the global Propylene Oxide (PO) market is segmented into Polyether Polyols, Propylene Glycol, Glycol Ethers, and Others. Among these, Polyether Polyols are dominating the global Propylene Oxide (PO) market and consumed approximately 70% of the market in 2022 and are expected to maintain their position in the forecast period.
Based on demand, Asia Pacific is dominating the Propylene Oxide (PO) market among all other regions. It is anticipated that it will continue to remain the most significant consumer owing to the growing demand for polyurethanes by the various industries such as automotive sector coupled with an upswing in construction activities in developing nations like India, China, and Japan.
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“Global Propylene Oxide (PO) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, the significant players in the Propylene Oxide (PO) market are LyondellBasell, DOW Chemicals, BASF & Dow, Shell, CNOOC and Shell Petrochemicals Company Limited, Sadara Chemical Company, Jishen Chemical Industry Co. Ltd., Fujian Lianhe Chemica, Zibo Qixiang Tengda Chemical Co., Ltd., Ningbo ZRCC Lyondell Chemical Co., Ltd., SK Chemicals, Blue Planet Eco New Materials, Shandong Befar Group Co., Ltd., Wanhua Chemical Group Co. Ltd., and Others.
“Consistently growing demand for Propylene Oxide (PO) as a precursor to manufacture polyether polyols for further manufacturing polyurethane which are further employed in various industries such as automotives, construction and other industries is anticipated to further fuel the Propylene Oxide (PO) market expansion in the forecast period till 2032. Due to the excellent mechanical properties of polyurethane such as resistance to oil & chemicals, abrasion resistance, high-load capacity, and abrasion-resistance, polyurethanes are used in various sectors. Asia Pacific region is the leading consumer of Propylene Oxide (PO) and due to fast-paced industrialization coupled with growing urbanization is likely dominated the Propylene Oxide (PO) market even in the forthcoming years. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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