Global Propylene Oxide Market Forecast From 2022Posted by sandeep gade on August 29th, 2022 The global propylene oxide market, in value terms, is anticipated to expand at a CAGR of 5.4% and attain a valuation of close to US$ 27.9 Bn by 2031. Significant growth in the automotive and construction industry is boosting demand for propylene oxide, with a large chunk of the demand coming from Asia Pacific. With usage in various applications across industries, propylene oxide is anticipated to witness substantial growth, particularly in high-growth markets such as Asia Pacific. Growing construction and automotive industries are significantly impacting the market in a positive way. Substantial vehicle production across the globe is bolstering consumption of propylene oxide. Increasing applications in the automotive sector is expected to propel market growth over the coming years. Reducing risk and developing products that comply with the strict regulations of various government agencies is a primary concern of propylene oxide manufacturers. Main players are focused on introducing product formulations that meet growing standards and stringent environmental regulations. Request For Free Sample Report of Propylene Oxide Market @ https://www.persistencemarketresearch.com/samples/10190 Key Takeaways from Market Study
“The polyether polyols segment is projected to be particularly lucrative over the coming years, given strong long-term demand fundamentals from the automotive & construction sector,” says a Persistence Market Research analyst. Competitive Landscape The global market for propylene oxide has been identified as a moderately fragmented space owing to significant presence key market participants. Some of the key market players included in the study are LyondellBasell Industries, The Dow Chemicals, SK Chemicals, Royal Dutch Shell, Sumitomo Chemical Co Ltd, BASF SE, Huntsman International LLC, AGC Chemicals, Repsol, Eastman Chemical Company, Mitsui Chemicals, Air Liquide, China Petrochemical Corporation, and Hanwha Group. Key manufacturers are anticipated to maintain a competitive. Key players are focusing on investing a fair share of their revenue in product development to launch water-based lubricants to sustain in the long run in this competitive environment. For critical insights on this market, request for customization here@ https://www.persistencemarketresearch.com/request-customization/10190 Conclusion The market is expected to gain momentum as the use of propylene oxide increases, especially in developing countries of the world. However, the global market supply chain was severely impacted by the COVID-19 scenario, disrupting the supply-demand balance. In particular, the COVID-19 pandemic had a severe impact on the automotive industry and had a cascading effect on the metalworking industry, putting the propylene oxide industry on the brink of production constraints, severe supply chain disruptions, and economic turmoil in both, large and small economies. Asia Pacific is expected to dominate the global market during the forecast period due to significant amount of manufacturing concentration in the region. In Asia, China and India are projected to be the largest markets for propylene oxide due to numerous end-use segments. AGC Chemicals, Sumitomo Chemicals, China Petrochemical Corporation, Mitsui Chemicals, and Hanwha Group are estimated to remain prominent market participants. Technological advancements and product innovations to improve efficiency of the product by increasing strength and ductility are the key focus areas. Major players in the market are also entering into collaborations to expand their global footprint, product portfolios, and technological base. Buy The Complete Report to read the analysed strategies adopted by the top vendors either to retain or gain market share@ https://www.persistencemarketresearch.com/checkout/10190 About Us Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs. Contact Us: Persistence Market Research Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States U.S. Ph. – +1-646-568-7751 USA-Canada Toll-free – +1 800-961-0353 Like it? Share it! More by this author |