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Global Propylene Oxide Market to Reach US$ 13,328 Mn in 2017
Persistence Market Research (PMR), in its report, projects the global propylene oxide market to
account for revenues worth US$ 13,328 Mn in 2017. This number is expected to surpass US$
20,000 Mn by 2025-end. The market is estimated to register 5.4% CAGR in terms of value.
Increasing applications of propylene glycol as a construction chemical on the back of growing
construction sector is expected to drive market growth.
Increasing demand for automotive products has driven considerable growth in automotive sector.
Demand for Propylene oxide is on a surge for manufacturing various automotive products such as
sealants, adhesives, flexible foams, and paints. Soaring urbanisation and surging production of
automobiles have led to huge demand for some continuously adopted products such as carpets,
mattresses, car seats and insulators. Such products utilize polyurethane which in turn requires
propylene oxide as raw material. The aforementioned factors are expected to drive growth of the
market. In addition, increasing application of propylene oxide and its derivatives in various end-use
products including engineering plastics & fibers, brakes & hydraulic fluids, power cruisers,
automotive coolants, and aircraft deicing fluids are expected to fuel demand for propylene oxide.
However, several alternatives of propylene oxide have been introduced in the market which are
more effective. Moreover, propylene oxide poses negative impacts on the environment and affects
humans. Over consumption of propylene oxide may result into hazardous effects on human
respiratory track, and causes irritation to eyes and skin. These factors are expected to restrain
growth of the global propylene oxide market.
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In terms of volume, polyether polyols is expected to be the largest application of propylene oxide.
Demand for propylene oxide in production polyether polyols is expected to reach nearly 10,000 KT
by 2025-end. In addition, demand for propylene oxide in production of flame retardants is projected
to exhibit fastest expansion through 2025.
Asia Pacific (APAC) is projected to be the most lucrative region for propylene oxide
market, followed by North America. Sales of propylene oxide in APAC will account
for around 4,600 KT in 2017, and it is further estimated to surpass 7,000 KT by 2025.
In terms of volume, market in this region is expected to register highest CAGR. In
addition, North America is expected to be the second largest market for propylene
oxide, with sales pegged to reach nearly 4,000 KT by 2025. In contrast, sales of
propylene oxide in Latin America will exhibit a sluggish expansion at 3.3% CAGR in
terms of volume.
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Key market players identified in PMR’s report include 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.
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