PUNE, India, August 18, 2017 /PRNewswire/ --
According to a new market research report Propylene Oxide Market by Application (Polyether Polyols, Propylene Glycol), Process (Chlorohydrin, Styrene Monomer, TBA Co-Product, Cumene-based, Hydrogen Peroxide), End-use Industry (Automotive, Building & Construction), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the 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.
Browse 99 Market Data Tables and 35 Figures spread through 158 Slides and in-depth TOC on "Propylene Oxide Market"
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Increased demand for propylene oxide from the various 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.
The polyether polyols segment of the propylene oxide market is projected to grow at the highest CAGR from 2017 to 2022.
By application, the polyether polyols segment of the propylene oxide market is projected to grow at the highest CAGR from 2017 to 2022. The growth of the propylene oxide segment of the market can be attributed to increasing demand for polyurethane across the globe. The polyether polyols application segment led the Asia Pacific propylene oxide market in 2016. Rising demand for polyurethane and Unsaturated Polyester Resin (UPR) from the automotive, building & construction, textile & construction, textile & furnishing, packaging, and electronics industries is expected to drive the growth of the polyether polyols application segment of the Asia Pacific propylene oxide market.
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The hydrogen peroxide process of the propylene oxide market is projected to grow at the highest CAGR from 2017 to 2022.
The hydrogen peroxide process segment of the propylene oxide market is projected to grow at the highest CAGR from 2017 to 2022. Several companies have been developing technologies for the production of propylene oxide from propylene and hydrogen peroxide.
The Asia Pacific region led the propylene oxide market in 2016.
The Asia Pacific region led the Propylene Oxide Market in 2016. China, India, Japan, and South Korea are the key countries contributing to the market for propylene oxide in the region. The propylene oxide market in Asia Pacific is projected to witness significant growth during the forecast period, owing to the rising demand for propylene oxide from the end-use industries, such as automotive, building & construction, textile & furnishing, chemical & pharmaceutical, and packaging.
The Dow Chemical Company (US), LyondellBasell Industries (Netherlands), Royal Dutch Shell (Netherlands), Huntsman Corporation (US), BASF (Germany), Asahi Glass Company, (Japan), Repsol, S.A. (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) are some of the leading players operating in the propylene oxide market. These key players mainly focus on expansions and mergers & acquisitions to enhance their position in the propylene oxide market.
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