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Propylene Oxide Market Estimated to Flourish by 2022
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The petrochemical product propylene oxide is mainly used to derive propylene glycol. This propylene glycol is primarily used as a raw-material for the production of polyurethane as well as used as intermediate in various other industries. The increasing demand for polyurethane from the end use industries is expected to drive the global market of polyurethane and in turn result in an increasing demand for propylene oxide. Hence, the growth in polyurethane market is expected to drive the growth of global propylene oxide market. Glycol ethers are used extensively in cleaning agents, in cosmetics, paints, gums etc., the growth in demand for glycol ethers is in turn expected to drive the growth of propylene oxide market during the forecast period. On the flip side, hazardous nature of propylene glycol that is it being a mild CNS depressant, eye and respiratory tract irritant and a probable carcinogenic according to Environmental Protection Agency (EPA) can be a major challenge to the growth of the global propylene oxide market over the forecast period.
The global propylene oxide market is segmented into seven geographical regions namely North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, Asia-Pacific (excluding Japan) and Japan. Asia pacific region accounts for the largest share in consumption of propylene oxide in the world. It is followed by Western Europe and North America Propylene oxide markets respectively.
Some of the key players in global ferrochromium market are The Dow Chemical Company, Lyondell Basell Industries N.V, Shell Chemicals Ltd., BASF SE, Asahi Glass Co. Ltd., Tokuyama Corp., Huntsman International LLC., Nihon Oxirane Co., Ltd., Shell Petroleum Development Company, Jishen Chemical Industry Co., Ltd., Reliance Industries Ltd., CNOOC and Shell Petrochemicals Co., Ltd, Ningbo ZRCC Lyondell Chemical Co., Ltd.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and applications.
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