PUBLISHER: IMARC | PRODUCT CODE: 1370356
PUBLISHER: IMARC | PRODUCT CODE: 1370356
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), also known as epoxypropane, is a synthetic cyclic ether majorly produced by either the dehydrochlorination of propylene chlorohydrin or the indirect oxidation of propylene. It is a clear, volatile liquid that is flammable, non-corrosive to metals, and soluble in water and alcohol. As a result, it is extensively utilized in the automotive, electronics, textile & furnishing, and as a precursor in the production of various chemicals. It is also applied as a fumigant for controlling bacterial contamination and insect infestations in soil and packaged food products. Besides this, minor quantities of propylene oxide are used for sterilizing medical equipment.
The market growth can be attributed to the expanding applications of propylene oxide in various end use industries. For instance, polyether polyols and propylene glycol ethers produced from propylene oxide, are widely utilized in the textile, automotive, construction and aerospace industries. It is also used as a transition fluid in tissue processing for transmission electron microscopy (TEM). Apart from this, changing lifestyles, burgeoning food and beverage (F&B) industry and the growing health consciousness among individuals are escalating the demand for packaged food products, which, in turn, is contributing to the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global propylene oxide market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on production process, application and end use industry.
Chlorohydrin Process (CHPO)
Styrene Monomer Process
Hydrogen Peroxide Process
TBA Co-Product Process
Cumene-based Process
Polyether Polyols
Propylene Glycols
Propylene Glycol Ethers (PGE)
Polyalkylene Glycols
Others
Automotive
Construction
Chemicals and Pharmaceuticals
Packaging
Textile and Furnishing
Others
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
The report has also analysed the competitive landscape of the market with some of the key players being 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. and Tokuyama Corporation.