NEW YORK, Aug. 24, 2017 /PRNewswire/ --
"The propylene oxide market is projected to grow at a CAGR of 5.5% from 2017 to 2022, in terms of value"
The propylene oxide market is projected to grow from USD 13.43 billion in 2017 to USD 17.53 billion by 2022, at a CAGR of 5.5% from 2017 to 2022. Increased demand for propylene oxide from the end-use industries such as automotive, building & construction, textile & furnishing, chemical & pharmaceutical, packaging, and electronics is expected to fuel the growth of the propylene oxide market during the forecast period. Propylene is the major raw material required for the production of propylene oxide. It is manufactured from crude oil. Any change in the cost of this basic raw material directly impacts the production chain of propylene oxide. Hence, the volatility in the price of raw material acts as a restraint on the growth of the propylene oxide market.
"The polyether polyols segment is projected to lead the propylene oxide market from 2017 to 2022."
By application, the polyether polyols segment led the propylene oxide market in 2016. The growth of this segment can be attributed to increasing demand for polyurethane foam from the end-use industries, such as automotive, building & construction, and textile & furnishing.
"The chlorohydrin process segment is projected to lead the propylene oxide market during the forecast period."
By production process, the chlorohydrin segment led the propylene oxide market in 2016. The chlorohydrin production process is the oldest propylene oxide production process. The Dow Chemical Company, which is the largest producer of propylene oxide in the world, uses chlorohydrin process for the production of propylene oxide.
"The Asia Pacific region led the propylene oxide market in 2016 and is projected to grow at the highest CAGR from 2017 to 2022."
The Asia Pacific propylene oxide market is expected to grow at the highest CAGR during the forecast period. The growth of the market can be attributed to the rapidly growing end-use industries, competitive manufacturing costs, adequate availability of raw materials at low cost, high economic growth rate, and low labor & transportation costs in the region. These factors are attracting the domestic and international market players for expanding their businesses in the Asia Pacific region.
Profile break-up of primary interviews for the report:
• By Company Type: Tier 1 – 35%, Tier 2 – 35%, and Tier 3 – 30%
• By Designation: C Level – 35%, D Level – 25%, and Others – 40%
• By Region: Asia Pacific – 23%, Europe – 51%, North America – 15%, Middle East & Africa – 7%, and South America – 4%
As a part of qualitative analysis, this research report provides a comprehensive view of the drivers, restraints, opportunities, and challenges of the propylene oxide market. It also discusses competitive strategies adopted by a number of market players, such as The Dow Chemical Company (US), LyondellBasell Industries (Netherlands), Royal Dutch Shell (Netherlands), Huntsman Corporation (US), BASF (Germany), Asahi Glass Company (Japan), Repsol, (Spain), Sumitomo Chemical Company (Japan), SKC Co.(South Korea), Tokuyama Corporation (Japan), Oltchim (Romania), PCC Rokita (Poland), PJSC Nizhnekamskneftekhim (Russia), Tianjin Dagu Chemical Co. (China), and INEOS Oxide (Switzerland) to strengthen their position in the propylene oxide market.
This report defines, segments, and projects the propylene oxide market on the basis of application, production process, end-use industry, and region. It provides detailed information regarding major factors, such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the propylene oxide market. It strategically profiles the key players operating in the market and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments, such as joint ventures, mergers & acquisitions, expansions, and new product launches that take place in the market.
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