Propylene Oxide Market 2021: Industry Demand and Forecast to 2030 Share, Size, Expansions, Agreements, New Product Launches and Growth Analysis

In a recent published report, Kenneth Research has updated the market report for Propylene Oxide Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Propylene Oxide Market products.

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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

Global Propylene Oxide Market Analysis 2015-2025

Propylene oxide (PO) is a highly reactive organic chemical used as a chemical precursor in the manufacturing of a wide variety of commercial products. It is a bulk chemical that can be produced by several technologies. An important raw material used for the manufacture of propylene glycol is propylene oxide. The global propylene oxide market is anticipated to achieve a CAGR of 4% during the forecast period, i.e. 2021-2025. On account of the growing number of applications in a wide variety of end-use industries such as food & beverage, pharmaceuticals, plastics, and others, the production of propylene glycol has seen a substantial rise in recent years.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

Propylene glycol is used as a chemical feedstock in the manufacturing of unsaturated polyester resins, medication vaporizers, hand sanitizers, airplane de-icing oils, and solvents for several compounds. The rising number of applications of propylene glycol derived from propylene oxide is another main factor responsible for the growth of propylene oxide market.

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The global propylene oxide market consists of various segments that are segmented by production process, end user and by region. Production process is further segmented by chlorohydrin process, styrene monomer process, hydrogen peroxide process, TBA co-product process, and cumene-based process. It is projected that the chlorohydrin process (CPHO) will account for a business value of around USD 4800 million by 2020. CHPO is the oldest process used in propylene oxide processing and held the highest market share in 2019.

Based on end user, the global propylene oxide market is segmented into automotive, building & construction, textile & furnishing, chemical & petrochemical, packaging, electronics, and others, out of which, building & construction is the largest end user segment. Propylene oxide is used in the construction industry as a structural solvent for use in paints, adhesives, grout, coatings and waterproofing materials. In addition, the second-largest consumer of propylene oxide, an unsaturated polyester resin derived from propylene glycol, is used for reinforcing fiberglass to form fiber-reinforced plastics.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

Based on region, the global propylene oxide market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa. The market in Asia-Pacific held the highest share in 2019 and is estimated to hold this position throughout the forecast period. China, India, Japan, Australia, and Southeast Asian nations are some of the main contributing nations.

Growing application of propylene oxide in end-use industries, such as automotive, manufacturing, food & beverage, and others is anticipated to drive the demand for propylene oxide in this region. Furthermore, an increase in the demand for propylene oxide in countries such as China, India, Vietnam, the Philippines and Indonesia owing to growth in commercial construction is projected to trigger the demand for propylene oxide in the region.

Leading Companies

Some of the affluent industry leaders in the propylene oxide market are Dow, Balchem Inc, BASF SE, Ashland; Alfa Aesar, Thermo Fisher Scientific.; Sumitomo Chemical Co, Ltd., Huntsman International LLC, Lyondellbasell Industries Holdings B.V., Eastman Chemical Company and others.

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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations, and organizations with the aim of helping them to take prominent decisions. Our research library comprises more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both the macro level as well as micro-level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis of various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keeps a track of the international and domestic market for any economic changes impacting the products’ demand, growth, and opportunities for new and existing players.

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