Propylene Oxide Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Production Process (Chlorohydrin Process, Ethylbenzene Hydroperoxide with Tert-Butyl Alcohol Co-Product, Cumene Hydroperoxide Process, Ethylbenzene Hydroperoxide with Styrene Co-Product, and Epoxidation with Hydrogen Peroxide), End Product (Polyether Polyols, Propylene Glycols, Propylene Glycol Ethers, Polyalkylene Glycols, and Other End Products), End-user Industry (Automotive, Construction/Infrastructure, Food and Beverages, Intermediates, Functional Fluids, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

6 %

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Market Overview

The propylene oxide market is expected to grow at a CAGR of less than 6% during the forecast period. The major factors driving the growth of market studied are the rising demand for polyether polyols for polyurethane production, and wide-ranging downstream applications of propylene glycol.

  • The threat due to the emerging alternatives, potential carcinogenicity and hazardous effects on mammals, and environmental liabilities of chlorohydrin process are some of the major concerns for the studied market.
  • The increasing infrastructure spending in emerging economies, like China, India, and Brazil is likely to provide opportunities for the studied market during the forecast period.
  • Asia-Pacific dominated the market across the globe, owing to the robust growth of construction activities and automotive production in the region.

Scope of the Report

The propylene oxide market report includes:

Production Process
Chlorohydrin Process (CHPO)
Ethylbenzene Hydroperoxide with Tert-butyl alcohol co-product (POTBA)
Cumene Hydroperoxide Process (CHP)
Ethylbenzene Hydroperoxide with Styrene co-product (POSM)
Epoxidation with Hydrogen Peroxide (HPPO)
End Product
Polyether Polyols
Propylene Glycols
Propylene Glycol Ethers (PGE)
Polyalkylene Glycols
Other End Products
End-user Industry
Automotive
Construction/Infrastructure
Food and Beverage
Intermediates
Functional Fluids
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Construction/Infrastructure Segment to Dominate the Market Demand

  • The construction/infrastructure industry is the largest consumer of propylene oxide. Propylene oxide is used in numerous products used in the construction industry, such as flexible & rigid, polyurethane products, coatings, elastomers, adhesives, and sealants.
  • The increasing use of propylene derivative, polyurethane, in the construction industry, has widely helped the propylene oxide market to have a stronghold in the construction and infrastructure segments.
  • Asia-Pacific has been witnessing strong growth in the residential as well as commercial construction in countries such as India, China, Philippines, Vietnam, and Indonesia, which is further likely to increase the demand for propylene oxide during the forecast period.
  • In the Middle-East and Africa region, growing hotel construction, and public infrastructure have been driving the construction industry in the region.
  • Besides, the residential construction is also strong in North America, due to high housing demand due to growing population demand for homes, and trend of nuclear families, which is further projected to drive the demand for propylene oxide market during the forecast period.
  • Whereas, Europe has been witnessing healthy recovery of construction activities, which is expected to further increase the demand for propylene oxide in the years to come.
  • Hence, all such trends in the global construction industry are expected to positively influence the demand for propylene oxide during the forecast period.

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share. Robust growth of construction sector and increasing automotive production are some of the factors driving the demand for propylene oxide market in the region.
  • Residential and commercial construction in the countries, such as India, China, Philippines, Vietnam, and Indonesia, have been increasing at a robust rate, which is fueled by growing private investments and foreign investments in the region.
  • China currently has numerous airport construction projects, such as, which are either in development or planning stage. These include - Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Besides, the government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next ten years.
  • In India, the government’s investment target of USD 120.5 billion for developing 27 industrial clusters, which is expected to boost commercial construction in the country.
  • In Indonesia, the government planned to invest in construction sector about USD 450 billion by 2021, which is expected to provide a boost to residential construction in the country.
  • China, the world’s largest automotive producer, is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country has planned to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025.
  • Besides, countries such as Indonesia, Malaysia, and Thailand have also been witnessing strong growth in the production of vehicles in the region.
  • Hence, all such market trends are expected to add to the demand for propylene oxide market in the region during the forecast period.

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Competitive Landscape

The propylene oxide market is a fragmented market, where numerous players hold an insignificant share to affect the market dynamics individually. Some of the noticeable players in the market include Dow, BASF SE, Huntsman International LLC, Sumitomo Chemical Co., Ltd., and LyondellBasell Industries Holdings BV, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Demand for Polyether Polyols for Polyurethane Production

      2. 4.1.2 Wide Ranging Downstream Applications of Propylene Glycol

    2. 4.2 Restraints

      1. 4.2.1 Threat Due to the Emerging Alternatives

      2. 4.2.2 Potential Carcinogenicity and Hazardous Effects on Mammals

      3. 4.2.3 Environmental Liabilities of Chlorohydrin Process

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Feedstock Analysis

    6. 4.6 Import and Export Trends

    7. 4.7 Price Trends

    8. 4.8 Major Installation Capacities and Upcoming Projects

    9. 4.9 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Production Process

      1. 5.1.1 Chlorohydrin Process (CHPO)

      2. 5.1.2 Ethylbenzene Hydroperoxide with Tert-butyl alcohol co-product (POTBA)

      3. 5.1.3 Cumene Hydroperoxide Process (CHP)

      4. 5.1.4 Ethylbenzene Hydroperoxide with Styrene co-product (POSM)

      5. 5.1.5 Epoxidation with Hydrogen Peroxide (HPPO)

    2. 5.2 End Product

      1. 5.2.1 Polyether Polyols

      2. 5.2.2 Propylene Glycols

      3. 5.2.3 Propylene Glycol Ethers (PGE)

      4. 5.2.4 Polyalkylene Glycols

      5. 5.2.5 Other End Products

    3. 5.3 End-user Industry

      1. 5.3.1 Automotive

      2. 5.3.2 Construction/Infrastructure

      3. 5.3.3 Food and Beverage

      4. 5.3.4 Intermediates

      5. 5.3.5 Functional Fluids

      6. 5.3.6 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Spain

        6. 5.4.3.6 Russia

        7. 5.4.3.7 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AGC Chemicals

      2. 6.4.2 LyondellBasell Industries Holdings BV

      3. 6.4.3 Dow

      4. 6.4.4 SKC

      5. 6.4.5 Royal Dutch Shell plc

      6. 6.4.6 Sumitomo Chemical Co., Ltd.

      7. 6.4.7 BASF SE

      8. 6.4.8 Huntsman International LLC

      9. 6.4.9 Repsol

      10. 6.4.10 Air Liquide

      11. 6.4.11 China Petroleum & Chemical Corporation

      12. 6.4.12 Eastman Chemical Company

      13. 6.4.13 Mitsui Chemicals, Inc.

      14. 6.4.14 INEOS

      15. 6.4.15 Tokuyama Corporation

      16. 6.4.16 SABIC

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Infrastructure Spending in Emerging Economies, like China, India, and Brazil

** Subject to Availability

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