Propylene Oxide Market Size & Share | Industry Report, 2023 by The Dow Chemical Company, LyondellBasell Industries N.V., Royal Dutch Shell plc, BASF SE, Repsol S.A., Asahi Glass, INEOS Private Limited Company, Sumitomo Group, Chevron Phillips Chemical

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.

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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 key markets of 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. Additionally, burgeoning population and increased public investment in the housing industry support 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. Availability of raw materials in Saudi Arabia and UAE coupled with mega infrastructure projects in the region is anticipated to drive the market in the region. Latin America market is expected to depict low growth over the forecast period due to significant issues of public governance failure and low economic growth rate.

Competitive Landscape

The key players in the Global Propylene Oxide Market includes The Dow Chemical Company (U.S.), Royal Dutch Shell plc (the Netherlands), BASF SE (Germany), Asahi Glass Co., Ltd. (Japan), Sumitomo Group (Japan), LyondellBasell Industries N.V. (the Netherlands), Huntsman Corporation (U.S.), Repsol S.A. (Spain), INEOS Private Limited Company (U.K.), and Chevron Phillips Chemical (U.S.).

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