Authored By: Sarah
11 Jul 2024

 Propylene Oxide Market Size to grow by USD 6.24 billion between 2024-2028

According to a research report “ Propylene Oxide Market” by Application (Polyether polyols, Propylene glycols, Glycol ethers, Others) End-user (Automotive, Building and construction, Textile and furnishing, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 6.24 billion, at a CAGR of  4.72% during the forecast period.ai_drivers

Browse market data tables, figures, and in-depth TOC on “Propylene Oxide Market” by Application (Polyether polyols, Propylene glycols, Glycol ethers, Others) End-user (Automotive, Building and construction, Textile and furnishing, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Application, the Polyether polyols segment is projected to dominate the market size in 2024

In the automotive sector, propylene oxide plays a pivotal role as a building block in the production of polyurethanes. These materials are essential for manufacturing various automotive components, including flexible and rigid foams, elastomers, and adhesives. Key applications include seat cushions, headrests, armrests, instrument panels, and insulation and soundproofing materials. Market growth is influenced by the expanding automotive industry, evolving vehicle design trends, and regulatory demands. With a focus on lighter materials and enhanced comfort and safety features, the demand for propylene oxide and its derivatives may shift, driving the global propylene oxide market growth throughout the forecast period.

By End-user, Automotive  segment is expected to hold the largest market size for the year 2024

In the realm of polyether polyol production, the process entails the reaction of propylene oxide with polyfunctional alcohols, generating polyether polyols. These polyols play a pivotal role in the manufacturing of polyurethane foams, which are extensively utilized in the construction sector for insulation applications. With the global emphasis on energy efficiency and sustainability, the demand for insulation materials is surging, thereby fueling the growth of the polyether polyols market. Additionally, the automotive industry's ongoing expansion and the pursuit of lighter materials to boost fuel efficiency and promote sustainability will further drive the demand for polyether polyols. Polyurethane materials derived from these polyols are also employed in automotive interiors, seating, and various other components due to their lightweight and durable properties.

APAC is forecasted to hold the largest market size by region in 2024

The Asia Pacific (APAC) region, marked by rapid industrialization and urbanization in countries like China and India, has witnessed significant growth in various industries. This expansion has resulted in heightened demand for a diverse range of chemical products, including propylene oxide. As a crucial intermediate in the manufacture of polyurethanes and other chemicals, propylene oxide is in high demand due to its extensive use in insulation, coatings, adhesives, and sealants in the construction sector. Furthermore, the burgeoning construction industry and infrastructure development across APAC fuel the demand for polyurethane foams and related materials. Additionally, the expanding automotive industry in APAC, fueled by both domestic sales and exports, significantly contributes to the propylene oxide market due to its use in automotive components and foam production.

The Propylene Oxide Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Archer Daniels Midland Co.
  • BASF SE
  • Befar Group Co. Ltd.
  • Dow Chemical Co.
  • Evonik Industries AG
  • Indorama Ventures Public Co. Ltd.
  • INEOS Group Holdings SA
  • LyondellBasell Industries N.V.
  • Manali Petrochemicals Ltd.
  • Merck and Co. Inc.
  • Repsol SA
  • Sadara Chemical Co.
  • Shell plc
  • SK Chemicals Co. Ltd.
  • Sumitomo Chemical Co. Ltd.
  • Tokuyama Corp.
  • Wanhua Chemical Group Co. Ltd.
  • Balchem Inc.
  • thyssenkrupp AG
.

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Research Analysis Overview

Title: Propylene Oxide Market: An In-depth Analysis of Applications in Furniture, Bedding, Automobile Cushioning, and Polyurethanes Propylene oxide (PO), a critical petrochemical product, plays a significant role in the production of various industries, including furniture, bedding, automobile cushioning, and polyurethanes. Propylene oxide is derived from propylene, which is produced through steam cracking of refinery feedstocks such as diesel, gasoline, and jet fuel. The primary raw materials used in the production of propylene oxide are propylene glycols and polyether polyols. Propylene glycols are produced by the oxidation of propylene, while polyether polyols are derived from the reaction of propylene oxide with water and ethylene oxide. Propylene oxide is used in the manufacturing of rigid and flexible foams, primarily in the form of polyurethanes. Rigid foams are used in insulation and construction applications, while flexible foams are used in furniture, bedding, and automobile cushioning. The propylene oxide market is highly competitive, with key players employing both quantitative and qualitative methods to gain a competitive edge. The market is segmented based on application areas, including furniture, bedding, automobile cushioning, and polyurethanes. The market growth is driven by the increasing demand for lightweight and energy-efficient materials in various industries. In conclusion, propylene oxide is a versatile petrochemical product that plays a crucial role in the production of various industries, including furniture, bedding, automobile cushioning, and polyurethanes. Its molecular formula is C3H8O, and it is produced through the oxidation of propylene in steam crackers. The market for propylene oxide is highly competitive, with key players employing various strategies to gain a competitive edge.

Market Research Overview

The Propylene Oxide (PO) market encompasses a wide range of applications, including wound dressings, weight reduction in various industries, thermal management, and synthetic lubricants. Propylene oxide derivatives, such as propylene glycols (PG), polyurethanes, and specialty surfactants, play a significant role in this market. Propylene, obtained from petroleum or bio-based feedstocks like vegetable oils (soybean, rapeseed, castor), is the primary raw material for PO production. The market is driven by the demand for PO derivatives in sectors like healthcare, transportation, and construction. Polyurethanes, particularly rigid foams, are essential in thermal insulation and transportation sectors due to their strength-to-weight ratio and energy efficiency. In the healthcare industry, PO derivatives are used in wound dressings, short-term implants, and medical garments. The market's competitive structure includes manufacturers of PO, PG, and polyurethane materials. Safety standards and environmental concerns have led to the development of greener processes, such as the Hydrogen Peroxide process, minimizing carbon footprint and reducing emissions. Price volatility and profit margins are significant factors influencing pricing strategies in the PO market. Applications like coatings, sealants, adhesives, and elastomers benefit from PO's protective properties, while the refining sector uses PO intermediates in the production of refined products like jet fuel and gasoline. PO derivatives have various applications, including in the refrigeration sector, noise reduction, and flame retardants. However, potential health concerns, such as skin irritation, respiratory tract irritation, and neurological effects, necessitate stringent safety standards. In summary, the Propylene Oxide market is diverse, with applications ranging from healthcare to transportation and construction. The market's growth is driven by the demand for lightweight materials, energy efficiency, and reduced carbon footprint. Manufacturers focus on developing sustainable products, integrating advanced polymer technology, and adhering to safety standards to cater to various industries' needs.

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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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