Propylene Oxide Market, Driven by Industry Analysis, Growth, Size, COVID-19 Overview, Opportunities, Share, Companies Strategy & Prediction – 2023

Research Reports

Jan 18, 2021

Propylene oxide is a colorless liquid used in the manufacture of propylene glycol and polyether polyols. It has applications in food & beverages, aviation, construction, oil & gas, and others. The global propylene oxide market report by Market Research Future (MRFR) comprises drivers, bottlenecks, opportunities and threats for the period of 2017 to 2023 (forecast period). It even takes into consideration the effects of the COVID-19 pandemic.

Propylene Oxide Market Scope

The global propylene oxide market is expected to grow significantly over the forecast period. Investments in expansion of cities and other infrastructural projects can drive the market demand. Polyether polyol and propylene glycol are used in housing and residential construction. The oil & gas sector can provide opportunities for the market as a filtration agent for segregating oil from water during the refinement of crude oil.

Propylene Oxide Market Segmentation

The global propylene oxide market is segmented on the basis of application and end use industry. On the basis of applications, the market is segmented into adhesives and sealants, polyether polyols, oil demulsifier, propylene glycol, and fumigation. Polyether polyols accounted for 28% market share in 2016.

On the basis of end use industry, the market is segmented into oil & gas, construction, paints and coatings, food, and transportation. The food industry is expected to drive the demand for propylene oxide owing to its use as an anti-bacterial agent. Strict regulations for maintenance of cleanliness in restaurants and other services in the hospitality sector can bode well for the segment.

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Propylene Oxide Market Regional Analysis

On the basis of region, the market is segmented into Asia Pacific (APAC), North America, Europe, Middle East & Africa (MEA), and Latin America.

Europe was the largest in terms of propylene oxide consumption. However, it is anticipated that it would lose it market share due to the economic crisis and increasing environmental regulations and safety in this forecast period.

APAC has the largest market share of propylene oxide due to massive demand from construction and housing industries. Key drivers include public investments in the housing sector, the burgeoning population, changes in their lifestyles, and construction of residential homes. In addition, the middle class numbers had exceeded more than 1.5 billion in 2010 and is expected to grow even further during the forecast period. Establishment of facilities to cater to the growing demand for propylene oxide can bode well for the market in the coming years.

North America has assumed the second position in the global propylene oxide market. Utilization of propylene glycol in the transportation sector for maintenance of vehicles can bolster the market demand. Propylene glycol is utilized as a hydraulic fluid in the automotive industry and as well as de-icing agent in airplanes and other aerospace vehicles. Huge demand for propylene due to the need for plastics can fuel the demand for propylene.

In the MEA, UAE is self-sufficient due to construction of mega infrastructure projects to promote tourism and for development of future metropolises. On the other hand, countries like Saudi Arabia have obtained raw materials for creation of plastics from oil wells. Propylene oxide is used as adhesives, paints and coatings.

In Latin America, the global propylene oxide market can experience a modest growth rate due to issues in public governance and low economy growth rate.

Competition

Royal Dutch Shell plc, LyondellBasell Industries N.V., The Dow Chemical Company, Huntsman Corporation, Asahi Glass Co., Ltd., INEOS Private Limited Company, Repsol S.A., Sumitomo Group, Chevron Phillips Chemical, and BASF SE are key players of the global propylene oxide market.

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