DUBLIN–(BUSINESS WIRE)–The “Propylene Oxide Market – Growth, Trends, and Forecast (2019 – 2024)” report has been added to ResearchAndMarkets.com’s offering.
The propylene oxide market is expected to grow at a CAGR of around 5.9% during the forecast period of 2019-2024.
The major factors driving the growth of market studied are the rising demand for polyether polyols for polyurethane production, and wide ranging downstream applications of propylene glycol. On the flipside, the threat due to the emerging alternatives, potential carcinogenicity and hazardous effects on mammals, and environmental liabilities of chlorohydrin process are some of the major concerns for the studied market.
- The polyether polyols segment dominated the market in 2018 and is likely to grow during the forecast period, with the growing demand for use with polyurethane to produce flexible and rigid polyurethane foams, and for non-foam applications in products, such as coatings, elastomers, adhesives, and sealants.
- The increasing infrastructure spending in emerging economies, like China, India, and Brazil is likely to provide opportunities for the studied market during the forecast period.
- Asia-Pacific dominated the market across the globe, owing to the robust growth of construction activities and automotive production in the region.
Major Market Trends
Construction & Infrastructure Segment to Dominate Market Demand
- Construction and infrastructure industry is the largest consumer of propylene oxide. Propylene oxide is used in numerous products used in the construction industry, such as flexible & rigid, polyurethane products, coatings, elastomers, adhesives, and sealants.
- The increasing use of propylene derivative, polyurethane, in the construction industry, has widely helped the propylene oxide market to have a strong hold in the construction and infrastructure segments.
- Asia-Pacific has been witnessing strong growth in the residential as well as commercial construction in countries such as India, China, Philippines, Vietnam, and Indonesia, which is further likely to increase the demand for propylene oxide during the forecast period.
- In the Middle East & Africa region, growing hotel construction, and public infrastructure have been driving the construction industry in the region.
- Besides, the residential construction is also strong in North America, due to high housing demand due to growing population demand for homes, and trend of nuclear families, which is further projected to drive the demand for propylene oxide market during the forecast period.
- Whereas, Europe has been witnessing healthy recovery of construction activities, which is expected to further increase the demand for propylene oxide in the years to come.
- Hence, all such trends in the global construction industry are expected to positively influence the demand for propylene oxide during the forecast period.
Asia-Pacific to Dominate the Global Market
- Asia-Pacific region dominated the global market share in 2018. Robust growth of construction sector and increasing automotive production are some of the factors driving the demand for propylene oxide market in the region.
- Residential and commercial construction in the countries, such as India, China, Philippines, Vietnam, and Indonesia, have been increasing at a robust rate, which is fuelled by growing private investments and increasing foreign investments in the region.
- China currently has numerous airport construction projects, such as, which are either in development or planning stage. These include – Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Besides, the government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next ten years.
- In India, the government’s investment target of USD 120.5 billion for developing 27 industrial clusters, which is expected to boost commercial construction in the country.
- In Indonesia, the government planned to invest in construction sector about USD 450 billion by 2021, which is expected to provide a boost to residential construction in the country.
- China, the world’s largest automotive producer, is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country has planned to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025.
- India is witnessing investments in the automotive industry, which is further expected to increase production in the country. For instance, in 2018, Hyundai planned investment of USD 1 billion in India by 2020. Similarly, SAIC Motor has also announced to invest USD 500 million in India by 2020.
- Besides, countries such as Indonesia, Malaysia, and Thailand have also been witnessing strong growth in the production of vehicles in the region.
- Hence, all such market trends are expected to add to the demand for propylene oxide market in the region during the forecast period.
The propylene oxide market is a fragmented market, where numerous players hold an insignificant share to affect the market dynamics individually. Some of the noticeable players in the market include DowDuPont, BASF, Sumitomo Chemical Co, LyondellBasell Industries Holdings, and Huntsman International, amongst others.
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Rising Demand for Polyether Polyols for Polyurethane Production
4.1.2 Wide Ranging Downstream Applications of Propylene Glycol
4.2.1 Threat Due to the Emerging Alternatives
4.2.2 Potential Carcinogenicity & Hazardous Effects on Mammals
4.2.3 Environmental Liabilities of Chlorohydrin Process
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.5 Feedstock Analysis
4.6 Import and Export Trends
4.7 Price Trends
4.8 Major Installation Capacities and Upcoming Projects
4.9 Regulatory Policy Analysis
5 MARKET SEGMENTATION
5.1 Production Process
5.1.1 Chlorohydrin Process (CHPO)
5.1.2 Ethylbenzene Hydroperoxide with Tert-butyl alcohol co-product (POTBA)
5.1.3 Cumene Hydroperoxide Process (CHP)
5.1.4 Ethylbenzene Hydroperoxide with Styrene co-product (POSM)
5.1.5 Epoxidation with Hydrogen Peroxide (HPPO)
5.2 End Products
5.2.1 Polyether Polyols
5.2.2 Propylene Glycols
5.2.3 Propylene Glycol Ethers (PGE)
5.2.4 Polyalkylene Glycols
5.2.5 Other End Products
5.3 End-user Industry
5.3.2 Construction and Infrastructure
5.3.3 Food & Beverages
5.3.5 Functional Fluids
5.3.6 Other End-user Industries
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.2 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.4.4 South America
220.127.116.11 Rest of South America
5.4.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AGC Chemicals
6.4.2 LyondellBasell Industries Holdings B.V.
6.4.4 SK Chemicals
6.4.5 Royal Dutch Shell PLC
6.4.6 Sumitomo Chemical Co. Ltd.
6.4.7 BASF SE
6.4.8 Huntsman International LLC
6.4.10 Air Liquide
6.4.11 Air Products & Chemicals Inc.
6.4.12 China Petrochemical Corporation
6.4.13 Eastman Chemical Company
6.4.14 Mitsui Chemicals Inc.
6.4.15 Lotte Chemical Corporation
6.4.16 PetroChina International Co. Ltd.
6.4.18 Tokuyama Corporation
6.4.19 Hanwha Group
6.4.20 Saudi Arabia Basic Industries Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Infrastructure Spending in Emerging Economies, like China, India, and Brazil
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Related Topics: Plastic Additives , Cosmetic Chemicals, Detergent Chemicals, Chemical Auxiliary Agents