PTT Global dominates Global Propylene Oxide Industry with World’s Largest
Posted by deevika on November 25th, 2019
Propylene Oxides is primarily used as ingredient in production of propylene glycol and polyether. It is also used in manufacturing everyday items. It is generally created into derivatives that are further used in different applications. An intelligence report titled, “Global Propylene Oxide (PO) Industry Outlook to 2023-Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository
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The growing demand of polyurethanes application drives the growth of global propylene oxide industry. The global capacity for Propylene Oxide is increasing fast and it is expected to increase form current capacity of 11.21mtpa to 14.96mtpa by the end of 2023.
Major stake holders of the market are actively involved in expanding their market presence with new plants and innovations. LyondellBasell is in the process of building propylene oxide plant in US that holds the potential to become the world’s largest plant. This plant will get installed to provide organic growth to company in order to meet the increasing demand of urethanes and oxyfuels along with creating valuable asset for shareholders.
BASF and DOW Chemicals collaborate
Developments in the production process are in progress. PTT Global Chemical is collaborating with Toyota Tsusho Corporation to perform engineering studies on Propylene production which is expected to generate reliable and stable feedstock supply of propylene for propylene oxide production. Elsewhere, BASF and DOW Chemicals are working together to develop environment friendly and innovative HPPO process for Propylene Oxide production.
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The fast market growth is inhibited by side effects of Propylene Oxide that include respiratory tract and eye irritation. Propylene Oxide is known to be mild Central Nervous System depressant. Occupational hazards occur with various activities including production, storage and transport of Propylene Oxide.
Prominent companies profiled in global Propyylene Oxide market include LyondellBasell Industries NV, Wanhua Chemical Group Co Ltd. and SKC Co. Ltd.
Global Propylene Oxide industry: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Global Propylene Oxide industry. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Global Propylene Oxide industry. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on global Propylene Oxide industry.
An insightful and deep-dive assessment of the competitive assessment of the Global Propylene Oxide industry pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Global Propylene Oxide industry. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Global Propylene Oxide industry: Research Methodology
Primary sources and secondary sources propel intelligence report on Global Propylene Oxide industry that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.Also See: Propylene Oxide, Oxide Industry, Global Propylene, Www Marketresearchhub, Report, Propylene, Oxide
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