According to the new research report by IMARC Group, the global propylene oxide market exhibited moderate growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 5% during 2021-2026.
Propylene oxide (C3H6O), also called epoxypropane, is a synthetic cyclic ether generally manufactured by the indirect oxidation of propylene or the dehydrochlorination of propylene chlorohydrin. It is a clear, volatile, flammable liquid which is non-corrosive to metals, and soluble in water and alcohol. As a result, it is primarily used in the automotive, electronics, textile and furnishing, and as a raw material in manufacturing various chemicals.
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The market growth of propylene oxide is primarily driven by their growing applications in various end-use industries. The polyether polyols and propylene glycol ethers derived from propylene oxide, are often used in the textile, automotive, construction, and aerospace sectors. It is also used as a fumigant to contain bacterial contamination and insect infestations in soil and packaged food products. In line with this, small quantities of propylene oxide help in sterilizing medical equipment. Additionally, it is also employed as a transitional fluid for tissue processing in transmission electron microscopy (TEM). Apart from this, improving living standards, the expanding food and beverage (F&B) sector, and the growing health consumer consciousness are propelling the demand for packaged food products, which is driving the market for propylene oxide.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/propylene-oxide-market
Insights on Market Segmentation:
Breakup by Production Process:
Chlorohydrin Process (CHPO)
Styrene Monomer Process
Hydrogen Peroxide Process
TBA Co-Product Process
Breakup by Application:
Propylene Glycol Ethers (PGE)
Breakup by End Use Industry:
Chemicals and Pharmaceuticals
Textile and Furnishing
Breakup by Region:
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.
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