Depth Research of Propylene Oxide Market forecast from 2017 to 2025

Propylene oxide (CH3CHCH2O) is a colorless liquid, volatile in nature. It is an organic compound used in the production of polyether polyols, which in turn, is used in the production of polyurethane plastics. Propylene oxide can be produced either by hydrochorination or by oxidation.

Propylene oxide has a wide range of end- use application, with automotive and construction industries being the largest end users. Propylene oxide is used as a chemical for paints, waterproofing, coatings, adhesives, grouts, and materials. Flexible foams, paints, sealants, coolants, car seats brakes, and hydraulic fuels are components in which propylene oxide is used in the automotive industry. However, the increase in the number of substitutes of propylene oxide are expected to hamper growth of the market.

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Propylene Oxide Market Taxonomy:

On the basis of application, the global propylene oxide market is segmented into:

Glycol Ethers
Propylene Glycol
Polyether Polyols
Others

On the basis of production process, the global propylene oxide market is segmented into:

Chlorohydrin Process
Styrene Monomer Process
TBA co-product Process
Hydrogen Peroxide Process
Cumene-Based Process

On the basis of end-use industry, the global propylene oxide market is segmented into:

Automotive
Building and construction
Chemical and Pharmaceutical
Textile and Furnishing
Packaging
Electronics
Others

TBA-co product process is a new development process of propylene oxide. Conventional production process generates huge amounts of waste products that are not environmental friendly. TBA- co product generation process eradicates the problem of waste generation and yields higher production than any other process.

Propylene Oxide Market outlook:

The market for propylene oxide has augmented in Asia Pacific over the recent past, owing to the high demand for propylene oxide in end- use industries. The demand for propylene has substantially increased due to new developments in infrastructure, construction, and automotive industry.

Economic growth in emerging economies has resulted in the increase in `per capita disposable income, in turn increasing the demand for propylene oxide. China, India, Japan, and South Korea are the countries majorly contributing to the accelerating demand for propylene oxide. The reduction in taxes for the small engine car section in China has resulted in the increased sale of cars, in turn fueling growth of the market for propylene oxide. According to CAAM (China Association of Automobile Manufacturers), China witnessed a year on year growth of 6.2% during 2016-2017.

Owing to the presence of the leading automotive companies in North America namely, Ford, General motors, and Fiat, the production of automobiles is expected to grow over the forecast period in the region. Moreover, the U.S. is the largest construction market in the world after China. . Moreover, the New Building Canada Fund has targeted an investment of US$ 10 billion over a 10 year period i.e. 2014-24 to build public infrastructure.

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Propylene is the major raw material for production of propylene oxide, which is produced from crude oil. Demand for propylene oxide in the Middle East is growing, owing to rampant growth of the construction and oil and gas industries. Moreover, new investments in Qatar and Saudi Arabia for the FIFA world cup 2022 is expected to substantially increase construction of hotels, stadiums, malls, and public infrastructure. This in turn, is expected to boost growth of the propylene oxide market.

Major players are adopting both organic and inorganic growth strategies. For instance, Clariant (SIX: CLN) and Huntsman Corporation (NYSE: HUN) are planning to complete their merger, by December 2018.

Some major player in the market are SK Chemicals, The Dow Chemicals Royal Dutch Shell, Tokuyama Corporation, Co., Ltd., BASF S.E., Huntsman International LLC., AGC Chemicals,CSPC Pharmaceutical Group Limited, Air Products and Chemicals, Inc., China Petrochemical Corporation, Eastman Chemical Company, Inc., PetroChina International Co., Ltd., Ineos Group Limited, Tokuyama, Hanwha Group, The Dow Chemical Company, Sumitomo Chemical, Repsol, Air Liquide, and Mitsui Chemicals.

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