IMARC Group, a leading market research company, has released a report titled “Propylene Oxide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global propylene oxide market size reached US$ 19.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
Propylene oxide (C3H6O) is a flammable cyclic ether manufactured by chlorinating propylene to chlorohydrin and then adding alkali. It is employed for the synthesis of various chemical compounds, such as polyether polyols and propylene glycol, which are used for absorbing excess moisture in medicines, cosmetics, and food products. It also assists in producing polyether that is the primary component of polyurethane foams and used as a border molding material. C3H6O is incorporated in adhesives that are designed for gluing wooden surfaces together. It is also used for manufacturing home maintenance degreasers required for removing grease and other hydrophobic materials from hard surfaces.
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Propylene Oxide Market Trends and Drivers:
At present, the increasing demand for C3H6O as a food fumigant and sterilant to control bacterial and mold contamination and microbial spoilage of food products represents one of the primary factors influencing the market positively. Besides this, the rising employment of C3H6O as a transition fluid in transmission electron microscopy (TEM) is propelling the growth of the market. In addition, the growing adoption of C3H6O in insulation applications to reduce energy loss is offering a favorable market outlook. Apart from this, the increasing demand for C3H6O in producing unsaturated polyester resins (UPR) is contributing to the growth of the market. Furthermore, the rising incorporation of polyurethane in various medical devices, such as pacemakers, non-allergic gloves, and medical garments, is bolstering the growth of the market.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
AGC Chemicals Americas Inc.
Air Liquide S.A.
BASF SE
Dow Inc.
Eastman Chemical Company
Huntsman International LLC
Ineos Chemicals Company
LyondellBasell Industries Holdings B.V.
Mitsui Chemicals
Repsol S.A.
Royal Dutch Shell PLC
Saudi Arabia Basic Industries Corporation (Saudi Aramco)
SK Chemicals Co. Ltd.
Sumitomo Chemical Co. Ltd.
Tokuyama Corporation.
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Production Process:
Chlorohydrin Process (CHPO)
Styrene Monomer Process
Hydrogen Peroxide Process
TBA Co-Product Process
Cumene-based Process
Breakup by Application:
Polyether Polyols
Propylene Glycols
Propylene Glycol Ethers (PGE)
Polyalkylene Glycols
Others
Breakup by End Use Industry:
Automotive
Construction
Chemicals and Pharmaceuticals
Packaging
Textile and Furnishing
Others
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
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