Propylene Oxide Market

Propylene oxide market was valued at USD 21,234 million and predicted to grow at 5.9% CAGR during the forecast period.

Propylene Oxide Market Overview

Propylene Oxide is a colorless, reactive liquid used primarily as a building block to manufacture a versatile range of derivative products. The chlorohydrin process or hydroperoxide can produce propylene oxide. Most propylene oxide is utilized as an intermediate in producing polyether polyols for polyurethane foams and in the production of propylene glycol for fumigating foodstuffs.

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Major Propylene Oxide Market Drivers

The factors driving the global propylene oxide market include the increasing demand for polyether polyols for polyurethane production. Polyurethane is a plastic material, which is present in several forms. It can be tailored to rigid or flexible and used in a broad range of end-use industries such as for building insulation, cushioning for furniture, mattress, automotive, refrigerators and freezers, rollers, tires, and shoe soles and others. According to the Polyurethane Foam Association, in 2018, the North America region accounted for 2.3 billion pounds of flexible polyurethane foams. At the same time, bedding (mattress) is the most significant application, with 40% of the total share. The growing construction industry globally will boost the propylene market during the forecast period. The construction industry is a notable consumer of propylene oxide. It is used in various applications such as rigid and flexible polyurethane products, coatings, adhesives, and sealants. According to the U.S. Census Bureau, in October 2021, construction spending was estimated at a seasonally adjusted annual rate of USD 1598 billion, 0.2% above the revised September estimate of USD 1594.8 billion.

Restraint in the Propylene Oxide Market

However, high health risk associated with propylene oxide due to it toxic nature stands to be one of the key barriers. Acute exposure to propylene oxide causes eye and respiratory irritation in humans and animals. Even with a dilute solution, dermal contact can cause skin irritation and necrosis in humans. This factor can act as a restraint and hamper the market growth during the forecast period.

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Application – Segment Analysis

Based on the application, polyether polyols is anticipated to grow at higher CAGR during the forecast period. Polyether polyols are mostly used to manufacture rigid & flexible foams and are used in coatings, adhesives, and sealants. For instance, BASF SE non-reactive polyether polyols are suitable for the continuous production of flexible polyurethane foams. BASF SE reactive polyols are mainly used for molded applications like flexible foams, integral foams, RIM, shoe soles, and CASE applications.

End-Users – Segment Analysis

Based on the end-users, automotive is predicted to grow at higher CAGR during the forecast period. Propylene oxide is mostly used to produce polyether polyols, and polyether polyols manufacture rigid and flexible polyurethane foams. Both rigid and flexible foams are employed in car seats, hand rest, over liners, floor, and others. Polyol’s derivatives are also used in other applications such as automotive coatings, sealants, thermoplastics resins, and fibers.
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Regional – Segment Analysis:

Based on the region, the Asia Pacific region is anticipated to grow at higher CAGR during the forecast period due to the growth of various end-user industries such as automotive, building and construction, packaging, and others. According to the OICA, in 2021, the Asia-Pacific region accounted for 32.6 million total productions of all types of vehicles. The growing construction industry in the region will boost the market during the forecast period. According to the International Trade Association, China is the world’s largest construction market, with the industry forecasted to expand at an annual average of 5.2% in real terms between 2021 and 2029.

Top Market Players

Various notable players operating in the market, include, BASF SE, Dow, Royal Dutch Shell, Sumitomo Chemical Co., Ltd., Lanxess, AGC Chemicals, SKC, Raveshia Group, Indorama Ventures Public Company Limited., Repsol, among others.

Key Developments:

• • In 2020, Indorama Ventures Company Limited, a global chemical producer, acquired Huntsman’s integrated Ethylene Oxide and Propylene Oxide assets. This acquisition reinforced Indorama ventures integrated oxides and derivatives segment’s and included much sought after portfolios of value-added EODs and propylene oxide derivatives, each coming with its own strong market position.

Segments covered in the Report:

The global propylene oxide market has been segmented on the basis of production process, application, end-users, and regions. Based on production process, the market is segmented into chlorohydrin process, hydroperoxide process, and others. Based on application, the market is segmented into polyether polyols, propylene glycol, glycol ethers and others. Based on end-users, the market is segmented into construction, automotive, chemical & pharmaceuticals, textile & furnishing, packaging, electronics, and others.

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Market Segmentation

Global Propylene Oxide Market by Production Process

• • Chlorohydrin Process
  • Hydroperoxide Process
  • Others

Global Propylene Oxide Market by Application

• • Polyether Polyols
  • Propylene Glycol
  • Glycol Ethers
  • Others

Global Propylene Oxide Market by End-Users

• • Construction
  • Automotive
  • Chemical & Pharmaceuticals
  • Textile & Furnishing
  • Packaging
  • Electronics
  • Others

Global Propylene Oxide Market by Region

• • North America Propylene Oxide Market (Option 1: As a part of the free 25% customization)

    • North America Propylene Oxide Market by Production Process
    • North America Propylene Oxide Market by Application
    • North America Propylene Oxide Market by End-Users
    • US Propylene Oxide Market All-Up
    • Canada Propylene Oxide Market All-Up

  • Europe Propylene Oxide Market (Option 2: As a part of the free 25% customization)

    • Europe Propylene Oxide Market by Production Process
    • Europe Propylene Oxide Market by Application
    • Europe Propylene Oxide Market by End-Users
    • UK Propylene Oxide Market All-Up
    • Germany Propylene Oxide Market All-Up
    • France Propylene Oxide Market All-Up
    • Spain Propylene Oxide Market All-Up
    • Rest of Europe Propylene Oxide Market All-Up

  • Asia-Pacific Propylene Oxide Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Propylene Oxide Market by Production Process
    • Asia-Pacific Propylene Oxide Market by Application
    • Asia-Pacific Propylene Oxide Market by End-Users
    • China Propylene Oxide Market All-Up
    • India Propylene Oxide Market All-Up
    • Japan Propylene Oxide Market All-Up
    • Rest of APAC Propylene Oxide Market All-Up

  • RoW Propylene Oxide Market (Option 4: As a part of the free 25% customization)

    • RoW Propylene Oxide Market by Production Process
    • RoW Propylene Oxide Market by Application
    • RoW Propylene Oxide Market by End-Users
    • Brazil Propylene Oxide Market All-Up
    • South Africa Propylene Oxide Market All-Up
    • Saudi Arabia Propylene Oxide Market All-Up
    • UAE Propylene Oxide Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Propylene Oxide Market All-Up

Major Players Operating in the Propylene Oxide (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • BASF SE
  • Dow
  • Royal Dutch Shell
  • Sumitomo Chemical Co., Ltd.
  • Lanxess
  • AGC Chemicals
  • SKC
  • Raveshia Group
  • Indorama Ventures Public Company Limited.
  • Repsol