Growing need for mattresses, insulators, carpets, and car seats has revved up demand for propylene oxide globally. In addition, increasing demand for propylene oxide in the construction industry is likely to impact growth of the global propylene oxide market in the upcoming years, as per Persistence Market Research Pvt. Ltd. The automotive industry witnesses a significant demand for adhesives, paints, sealants, and flexible foams. Bound to surge in demand for various automotive products is expected to boost demand for propylene oxide in the automotive industry globally. Moreover, increasing production of power cruisers, aircraft, plastic & fibers, automotive coolants and brakes & hydraulic fluids is predicted to fuel demand for propylene oxide during the projected period. Such factors are predicted to fuel the global market growth of propylene oxide throughout 2025.
Apart from production in the automotive industry, propylene oxide witnesses considerable demand in the construction industry. Increasing need for construction chemicals in the construction industry is predicted to impact the global market growth of propylene oxide positively by 2025 end. On the other hand, increasing availability of effective substitute products is expected to hinder the global market growth of propylene oxide during the projected period. Additionally, application of propylene has negatively affected health of humans and the environment. Such factors are predicted to inhibit the global market growth of propylene oxide throughout 2025. Excessive consumption of this product has led to dermal irritation, irritation in eyes, and adverse effects on the respiratory tract. Such factors are anticipated to hinder the global market growth of propylene oxide during the projected period.
Polyether polyols among other end users is expected to remain a major segment in the propylene oxide market globally by 2025 end. Polyether polyols is predicted to represent around 10,000 KT in terms of volume by the end of 2025. Construction industry is expected to represent significant demand for propylene oxide during the projected period.
APAC is predicted to represent the most lucrative region among others, followed by North America. In 2017, the market in this region is expected to account for nearly 4,600 KT in terms of sales, and is projected to exceed 7,000 KT by the end of 2025. This region is expected to reflect a relatively high CAGR in terms of volume through 2025. North America among various regions is expected to represent the second major market for propylene oxide globally. In terms of sales, the propylene oxide market in North America is likely to represent around 4,000 KT by the end of 2025. Latin America among various regions is expected to register a relatively slow growth in the global propylene oxide market. The propylene oxide market in Latin America is expected to register a CAGR growth of 3.3% in terms of volume by 2025 – end.
Leading market players in the global propylene oxide market include The Dow Chemicals, LyondellBasell Industries Holdings B.V., Royal Dutch Shell, SK Chemicals, Huntsman International LLC., BASF SE, Repsol, AGC Chemicals, Air Liquide, CSPC Pharmaceutical Group Limited, China Petrochemical Corporation, Air Products and Chemicals, Inc. Mitsui Chemicals, Inc., Eastman Chemical Company, PetroChina International Co., Ltd., Lotte Chemical Corp, Tokuyama Corporation, Hanwha Group, and Ineos Group Limited.