Propylene Oxide Market Upcoming Trends 2019 Big Data Analysis, Growth Rate, Industry Evaluation Strategies, Competitive Landscape, Forecast To 2023
Global Propylene Oxide Market by Application (Polyether Polyols, Propylene Glycol, Fumigation, Adhesives & Sealants, Oil Demulsifier) By End Use Industry (Construction, Paints & Coatings, Oil & Gas, Food, Transportation) And by Region, Forecast
Pune, India – July 10, 2019 /MarketersMedia/ —
Market Overview:
The Global Propylene Oxide Market is projected to grow at a moderate CAGR and reach a significant valuation by the end of the forecast period of 2016-2023, as per a research report published by Market Research Future (MRFR). Propylene oxide acts as an essential primary chemical intermediate and has roles across various industry verticals. Growth in end user industries is the primary driver of the market. The substantial growth of the global automotive industry presents ample of expansion opportunities to the propylene oxide market. Infrastructural and constructional projects such as urban city expansion projects across the globe, especially in the Asia Pacific region is a major driver of the market since propylene glycol is mostly used as a construction chemical for use in adhesives, paints, water-proofing materials and coatings. Growth in the automotive industry directly translates into a surge in demand for propylene oxide. It is used as flexible foams, sealants, hydraulic fluid in braking systems in vehicles, and used as a de-icing agent in aircraft.
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Propylene Oxide Market is a certified compound in the food industry which is used to reduce bacteria and microbes in food products, thus growth in food & beverage industry also augments the growth of the global propylene oxide market. The surge in applications of polyurethane also boosts the growth of the market as polyurethane production requires propylene oxide as a raw material. Polyurethane is used in the production of insulators, mattresses, carpets and car seats which are expected to generate continued demand for propylene oxide.
Industry Updates:
In July 2018, BASF, a world leader in production and manufacturing of chemicals, signed a non-binding agreement with the Chinese government to build a wholly owned chemical complex in Guangdong, China. The scope of the project includes the production of basic chemicals including propylene oxide.
Key Players:
Some of the prominent players operating in the propylene oxide market are
The Dow Chemical Company (U.S.)
LyondellBasell Industries N.V. (Netherlands)
Royal Dutch Shell plc (Netherlands)
Huntsman Corporation (U.S.)
BASF SE (Germany)
Repsol S.A. (Spain)
Asahi Glass Co., Ltd. (Japan)
INEOS Private Limited Company (U.K.)
Sumitomo Group (Japan)
Chevron Phillips Chemical (U.S.)
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Market Segmentation:
The Global Propylene Oxide Market has been segmented based on applications and end use industry. By applications, the market has been segmented into polyether polyols, propylene glycol, fumigation, adhesives, and sealants, & oil demulsifier. By end-use industries, the market has been segmented into construction, paints, and coatings, oil & gas, food, & transportation.
Regional Analysis:
The Global Propylene Oxide Market include Asia Pacific, North America, Europe, Middle East & Africa and Latin America. Asia Pacific is the leading market for propylene oxide due to increased construction and housing activities in the region which is caused by ongoing infrastructural and industrial developments. Governments of emerging countries in Asia Pacific are endeavoring to attract foreign investments to accelerate growth in the countries which is further fostering the growth of the market.
North America market for propylene oxide is strong owing to high demand for Propylene Glycol from the transportation sector. Propylene Glycol is used in the automotive and aerospace industry which is well-established in the region and results in expansion of the market. Europe market for propylene oxide was consolidated, but the region is expected to lose share in the global market due to the economic crisis and strict regulations pertaining to environment and safety. The Middle East & Africa market is growing significantly on account of growing construction and oil & gas industries.
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Table Of Contents:
1 Executive Summary
2 Scope Of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview Of Global Propylene Oxide Market
To Be Continue…..
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.
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