Seattle, WA -- (SBWIRE) -- 03/03/2020 -- Propylene oxide (CH3CHCH2O) is a colorless volatile liquid. It is an organic compound widely used in the production of polyether polyol, which in turn, is utilized in the manufacturing process of polyurethane plastics. Propylene oxide can be produced by means of hydrochlorination or oxidation. Propylene oxide has a wide range of application in the automotive and construction industries. Flexible foams, paints, sealants, coolants, car seats brakes, and hydraulic fuels are components which use propylene oxide in the automotive industry. Moreover, propylene oxide is used as a chemical for paints, waterproofing, coatings, adhesives, grouts, and materials. However, the availability of substitutes for propylene oxide is a restraining factor for the growth of the global propylene oxide market.
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Global Propylene Oxide Market Taxonomy
In terms of application:
- Glycol Ethers
- Propylene Glycol
- Polyether Polyols
- Others
Based on production process:
- Chlorohydrin Process
- Styrene Monomer Process
- TBA co-product Process
- Hydrogen Peroxide Process
- Cumene-Based Process
By end-use industry:
- Automotive
- Building and construction
- Chemical and Pharmaceutical
- Textile and Furnishing
- Packaging
- Electronics
- Others
Global Propylene Oxide Market – Regional Outlook
The Asia Pacific propylene oxide market is gaining significant traction, owing to the high demand for propylene oxide from end-use industries. The demand for propylene has substantially increased due to new developments in infrastructure, construction, and automotive industry. China, India, Japan, and South Korea are the economies majorly contributing to growth of 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 China Association of Automobile Manufacturers (CAAM), China witnessed significant year-on-year growth of 6.2% during 2016-2017.
Production of automobiles is expected to grow over the forecast period, owing to presence of leading automotive companies in North America, such as Ford, General motors, and Fiat. Moreover, New Building Canada Fund has targeted an investment of US$ 10 billion over a 10 year period, i.e. 2014-2024, to build an advanced public infrastructure. Furthermore, 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 tremendously, 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 are expected to increase the rate of construction of hotels, stadiums, malls, and public infrastructure in the region. This, in turn, would potentially boost the regional market growth in the near future.
Significant Market Players
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The major companies operating in the global propylene oxide market include 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.