PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1546212
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1546212
Propylene Oxide
Global Propylene Oxide Market to Reach US$35.2 Billion by 2030
The global market for Propylene Oxide estimated at US$24.1 Billion in the year 2023, is expected to reach US$35.2 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2023-2030. Polyether Polyols Application, one of the segments analyzed in the report, is expected to record a 5.9% CAGR and reach US$27.2 Billion by the end of the analysis period. Growth in the Propylene Glycol Application segment is estimated at 5.0% CAGR over the analysis period.
The U.S. Market is Estimated at US$6.4 Billion While China is Forecast to Grow at 8.9% CAGR
The Propylene Oxide market in the U.S. is estimated at US$6.4 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$7.9 Billion by the year 2030 trailing a CAGR of 8.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.2% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
Global Propylene Oxide Market - Key Trends and Drivers Summarized
Propylene Oxide: A Key Chemical Intermediate for Diverse Industrial Applications
Propylene oxide (PO) is a highly reactive, versatile chemical intermediate used in the production of a wide range of industrial and consumer products. It is a colorless, volatile liquid that serves as a building block for the synthesis of numerous chemicals, including polyether polyols, propylene glycol, and propylene glycol ethers. These derivatives are essential components in the manufacturing of polyurethane foams, antifreeze formulations, and a variety of coatings, adhesives, and sealants. The versatility of propylene oxide as a chemical intermediate makes it a critical raw material in industries such as automotive, construction, packaging, and textiles, where its derivatives are used to produce high-performance products with specific characteristics and functionalities.
How Are Technological Advancements Impacting the Production and Use of Propylene Oxide?
Technological advancements have significantly impacted the production and application of propylene oxide, improving efficiency, sustainability, and safety in its use across various industries. The development of new production methods, such as the direct oxidation of propylene or the hydrogen peroxide to propylene oxide (HPPO) process, has reduced the environmental impact of propylene oxide production by minimizing waste and energy consumption. These methods offer a more sustainable alternative to traditional chlorohydrin and styrene monomer processes, which have higher environmental footprints. Advances in catalysis and process engineering have also improved the selectivity and yield of propylene oxide, ensuring consistent quality and reducing the need for costly purification steps. Additionally, innovations in application technologies, such as the development of low-VOC and waterborne coatings, have expanded the use of propylene oxide derivatives in environmentally sensitive applications. These technological improvements are driving the adoption of propylene oxide in various sectors, contributing to its growing importance in the global chemical industry.
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Propylene Oxide - Global Key Competitors Percentage Market Share in 2024 (E)
- Global Economic Update
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
III. MARKET ANALYSIS
IV. COMPETITION
