IMARC Group has recently released a new research study titled “Propylene Oxide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Propylene Oxide industry?
The global propylene oxide market reached a value of US$ 18.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 26 Billion by 2027, exhibiting a CAGR of 5.7% during 2022-2027.
What is a Propylene Oxide?
Propylene oxide (C3H6O), also called epoxypropane, refers to a synthetic cyclic ether usually manufactured by the dehydrochlorination of propylene chlorohydrin or the indirect oxidation of propylene. It is a clear, volatile, flammable liquid that is soluble in water and alcohol and non-corrosive to metals. Consequently, it is extensively used in automotive, electronics, textile, and furnishing and as a raw material in manufacturing various chemicals.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the Propylene Oxide Market?
The expanding applications of propylene oxide across several end-use industries are primarily driving the propylene oxide market. Propylene glycol ethers and polyether polyols derived from propylene oxide are often used in the automotive, textile, construction, automotive, and aerospace sectors. They are also adopted as fumigants to contain insect infestations and bacterial contamination in soil and packaged food products. Furthermore, small quantities of propylene oxide can be used for sterilizing medical equipment. Moreover, it is also used as a transitional fluid for tissue processing in transmission electron microscopy (TEM). Besides this, a significant growth in the food processing sector is propelling the demand for packaged food products, thereby further driving the market for propylene oxide.
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Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Production Process:
- Chlorohydrin Process (CHPO)
- Styrene Monomer Process
- Hydrogen Peroxide Process
- TBA Co-Product Process
- Cumene-based Process
Breakup by Application:
- Polyether Polyols
- Propylene Glycols
- Propylene Glycol Ethers (PGE)
- Polyalkylene Glycols
- Others
Breakup by End Use Industry:
- Automotive
- Construction
- Chemicals and Pharmaceuticals
- Packaging
- Textile and Furnishing
- Others
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
- AGC Chemicals Americas Inc.
- Air Liquide S.A.
- BASF SE
- Dow Inc.
- Eastman Chemical Company
- Huntsman International LLC
- Ineos Chemicals Company
- LyondellBasell Industries Holdings B.V.
- Mitsui Chemicals
- Repsol S.A.
- Royal Dutch Shell PLC
- Saudi Arabia Basic Industries Corporation (Saudi Aramco)
- SK Chemicals Co. Ltd.
- Sumitomo Chemical Co. Ltd.
- Tokuyama Corporation.
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
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