#Propylene Market

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Propylene Market Industry Trends, Analysis, 2022-2028

A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the Global Propylene Market was 90.6 Metric Tons in 2021 and is projected to reach 132.1 Metric Tons by the year 2028, growing at a CAGR of 6.1% over the analysis period of 2022-2028. The expansion in the Propylene market can be primarily attributed to the large array of properties exhibited by propylene that expands its employability across several sectors. Propylene is the simplest member of the alkene family; it is a colorless gas having a faint petroleum-like odor. Propylene is a prominent feedstock in the petroleum industry used in the manufacture of propylene glycol, isopropyl alcohol, polygas chemical, acetone, acrylic acid, etc. Moreover, it is mainly used as a humectant as it makes water-soluble and stops it from collecting in clumps or foaming. Furthermore, propylene keeps the surface hydrated and averts the growth of molds and bacteria. Apart from this, it prevents corrosion of metals by offering an electrochemical charge so they can maintain their properties.

The Burgeoning Demand For Propylene From Various Sectors To Drive The Global Propylene Market Growth

The rising demand for propylene from the construction industry throughout the world acts as one of the foremost factors driving the growth of the propylene market. The rise in the usage of propylene in various end-use industries such as packaging, construction, textile, automotive, and others and growing demand for polymer produced from the propylene monomer in the automobile sector accelerate the market growth. Apart from that, the growing R&D activities taken up by key market players can provide major opportunities in the global propylene market. The major players in the chemicals sector are focusing on research and development activities and launching innovative products to gain a competitive edge. For instance, LyondellBasell Industries N.V. collaborated with China Petroleum & Chemical Corporation (Sinopec) to produce propylene oxide and styrene monomer in China. All these factors are likely to propel the global propylene market during the forecast year 2022-2028.

Polypropylene Accounted For The Largest Market Share And Is Expected To Grow With Highest CAGR During The Forecast Period

Based on the derivative, the global propylene market has been segmented into Polypropylene, Propylene Oxide, Cumene, Acrylonitrile, Acrylic Acid & Acrylates, Alcohol, and Others. Alcohols comprise oxo-alcohols and isopropyl alcohols. Amidst the segmentation, polypropylene accounted for the largest market share in 2021. Moreover, it is expected to be the fastest-growing segment during the forecast period 2022-2028. The escalation in demand for polypropylene products is due to their heavy usage in the production of instrumental panels, interior trim, door trims, fender liners, bumpers, battery cases, and trays, and other components coupled with the constant development of the e-commerce sector, which is a massive deployer of polypropylene as the raw material for packaging purposes.

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Impact Of COVID-19 On The Global Propylene Market              

As a result of the COVID-19 pandemic, the world witnessed one of the worst recessions since WW2. The global propylene market has also been brutally impacted by the emergence of the COVID-19 pandemic. Several governments around the world imposed rigorous lockdowns, thus vividly hampering the building and construction, transportation, electrical, and electronics industries, which are the important end-user industries for the Propylene market. These industries are experiencing a sharp decline in demand as well as production due to the declining discretionary spending, limitations on supply and transport, factory shutdowns, and a slowdown in infrastructure expansion activities throughout the world. However, the demand for propylene surged from the packaging industry owing to the growth in e-commerce amid the pandemic. Nevertheless, with the improving market circumstances in the post covid era, the growth of the Propylene market is likely to recover during the forecast period.

Asia-Pacific Region Is Expected To Grow With The Highest CAGR In The Global Propylene Market

In terms of regional analysis, the global Propylene market has been classified into North America, Europe, the Asia-Pacific, Latin America and the Middle East, and Africa. Amidst the segmentation, the Asia-Pacific region dominated the global propylene market in terms of value as well as volume in 2021. Moreover, APAC is expected to be the largest growing market in global propylene during the forecast period 2022-2028. This can be attributed to the growing demand for propylene from the packaging and automotive sector, particularly in countries like India, China, and Japan. China has been the largest importer of propylene as well as its derivatives. As a means of reducing its reliance on imports, many investments are being proposed by 2025. Some of them include Fujian Meide Petrochemical Fuzhou Propylene Plant, Oriental Energy Ningbo Propylene Plant, and Oriental Energy Ningbo Propylene Plant. Furthermore, market leaders including Formosa Plastics Group, LG Chem, China Petrochemical Corporation, and Sumitomo Chemical present in the region are anticipated to amplify the demand for propylene in the region during the forecast period 2022-2028.

Competitive Landscape

The global propylene market is a fragmented market. The key players operating in the global Propylene market are Dow, BASF SE, Sumitomo Chemical Co.Ltd., Exxon Mobil Corporation., INEOS, LyondellBasell Industries Holdings B.V., SABIC, Asahi Kasei Corporation, China Petrochemical Corporation, Chevron Phillips Chemical Company, Manali Petrochemical, AGC Chemicals, Royal Dutch Shell, Oleon NV, and other prominent players. The players maintain their dominance in the market by enhancing their production capabilities, research and development activities, and launching improved products for the customers. Different strategies are adopted, like engaging in strategic alliances, agreements, mergers, and collaborations.

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[chetanagblog]

Global Propylene Glycol Alginate Market size is expected to reach nearly US$ 21.15 Bn by 2030 with a CAGR of 3.8% during the forecast period.

[industryinsightsandanalysis]

Ethylene Propylene Diene Monomer (EPDM) Market: Current Analysis and Forecast (2022-2028)

According to a new report published by UnivDatos Markets Insights, the Ethylene Propylene Diene Monomer (EPDM) Market is expected to grow at a CAGR of around 8% from 2022-2028. The analysis has been segmented into Manufacturing Process (Solution Polymerization Process, Slurry/Suspension Process, and Gas Phase Polymerization); Application (Building & Construction, Automotive, Plastic Modification, Military & Defense, Wire & Cable, Lubricant Additive, and Others); Region/Country.

The Ethylene Propylene Diene Monomer (EPDM) market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Ethylene Propylene Diene Monomer (EPDM) market. The Ethylene Propylene Diene Monomer (EPDM) market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Ethylene Propylene Diene Monomer (EPDM) market at the global and regional levels.

Market Overview

Ethylene Propylene Diene Monomer (EPDM) is a synthetic material obtained from natural gas and thermal cracking petroleum products such as naphtha. EPDM is widely used in low-slope buildings, automotive applications, and construction applications due to their longer durability and superior resistance to environmental factors such as UV, ozone, and other weather condition. In recent times, the EPDM witnessed significant demand due to its increasing demand from the automotive industry, manufacturing & construction industry attributed to its lower cost, higher moldability, and longer durability. Also, the EPDM could be used as an alternative to silicon rubber and could also be incorporated in the hose, O-ring, accumulator bladder, diaphragms, and connectors for wire & cables among many other applications on the account of their higher resistance towards tearing, abrasive, solvent, and temperature.

Factors such as technological advancement coupled with the growing number of industries and manufacturing units along with the new product launches in the market are some of the prominent factors that are positively influencing the market growth globally.

Some of the major players operating in the market include DowDuPont Inc., Exxon Mobil Corporation, Lion Elastomers, Johns Manville, SK Global Chemical Co. Ltd, Lanxess AG, Mitsui Chemical Inc., PetroChina Company Limited, Kumho Polychem, and Versalis S.p.A.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the manufacturing industry along with supply chain disruption, regulatory and policy changes, labor reliance, working capital management, and liquidity & solvency management. The Ethylene Propylene Diene Monomer (EPDM) market has been significantly affected during these times owing to the gap between supply and demand.

The global Ethylene Propylene Diene Monomer (EPDM) market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

Based on application, the market is segmented into building & construction, automotive, plastic modification, military & defense, wire & cable, lubricant additive, and others. The automotive industry is expected to witness significant CAGR during the forecast period owing to the increasing automotive vehicle sale coupled with the adoption of EPDM-based products in the vehicle such as rear lamp gaskets, tire sidewalls, front & rear bumper, and inner tire tubes among others. Also, the EPDM-based material has excellent barriers against the road surface, engine vibration, and resistance against the weather such as UV light, acid rain, as well as atmospheric pollution and is expected to support the market growth in the coming time.

Based on the manufacturing process, the market is segmented into solution polymerization process, slurry/suspension process, and gas phase polymerization. The solution polymerization segment is expected to witness significant growth during the forecast period due to the higher concentration and lower required amount for the optimized performance. Additionally, solution polymerization is used to manufacture both crystalline and amorphous polymer grades and is expected to support market growth.

Ethylene Propylene Diene Monomer (EPDM) Market Geographical Segmentation Includes:

North America (United States, Canada, and Rest of North America)

Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

Rest of the World

Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rapid industrialization and growing automotive industries along with the electronic & electrical industry, consumer goods industry, and medical sector in the region. Also, the ongoing infrastructural projects and increasing disposable income of the individual are expected to support market growth in the coming time. Furthermore, EPDM has also been used as a substitute for thermoplastic olefins and thermoplastic vulcanizate in the manufacturing industry. Also, the lower cost of the raw material coupled with the lower cost of production associated with the lower labor cost propels the market for the EPDM. Moreover, the growing research & development activities, increasing investment, and technological investment are expected to derive the market in the coming time. For instance, in March 2022, Arlanxeo a Netherland-based firm announced to increase in its production capacity by 15% for its EPDM plant based in Changzhou, China.

The major players targeting the market include:

DowDuPont Inc.

Exxon Mobil Corporation

Lion Elastomers

Johns Manville

SK Global Chemical Co. Ltd

Lanxess AG

Mitsui Chemical Inc.

PetroChina Company Limited

Kumho Polychem

Versalis S.p.A.

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Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Ethylene Propylene Diene Monomer (EPDM) market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Ethylene Propylene Diene Monomer (EPDM) market?

• Which factors are influencing the Ethylene Propylene Diene Monomer (EPDM) market over the forecast period?

• What are the global challenges, threats, and risks in the Ethylene Propylene Diene Monomer (EPDM) market?

• Which factors are propelling and restraining the Ethylene Propylene Diene Monomer (EPDM) market?

• What are the demanding global regions of the Ethylene Propylene Diene Monomer (EPDM) market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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Propylene Oxide Market Size, Analysis and Forecast 2031

[aarunresearcher]

The propylene oxide market in India is experiencing robust growth, primarily driven by several key factors. Firstly, the escalating demand for polyurethane, a versatile polymer derived from propylene oxide, serves as a prominent driver. 

[downincmi]

Propylene Oxide Market Dynamics: A Comprehensive Overview

Introduction Propylene oxide is an organic compound with the chemical formula C3H6O. It is a colorless volatile liquid that is miscible with water, most common organic solvents and has a faint ethereal odor. C3H6O is an epoxide, meaning it contains an oxide group bonded to two carbon atoms forming a three-membered cyclic ether. It is formed through the oxidation of propylene. Production of Propylene Oxide Industrially, propylene oxide is produced on a large scale through the chlorohydrin process or hydroperoxide process. In the chlorohydrin process, propylene is oxidized with chlorine in the presence of a chloride catalyst to form propylene chlorohydrin which is then hydrolyzed to yield C3H6O and hydrochloric acid. This process allows for greater selectivity in product formation. The hydroperoxide process involves three steps - first hydroperoxide is formed by oxidizing propylene with an oxygen containing gas like air or oxygen over a silver catalyst. This is followed by decomposition of hydroperoxide to form C3H6O and water. The final step recovers and purifies the C3H6O product. This process affords higher atom efficiency and lower energy consumption. Properties and Applications Due to its versatile functionality of forming additional bonds through ring opening, C3H6O has a wide range of applications. It is mainly used for producing polyether polyols which are building blocks for polyurethane products like rigid and flexible foams for insulation and cushioning. C3H6O is also used to produce propylene glycols that are commonly used as heat transfer fluids and manufacturing solvents. As an intermediate chemical, C3H6O is converted to propylene glycol ethers which are used in industrial and automotive antifreeze formulations as well as paints, coatings and cleaning agents due to their good solvent properties. Epoxy resins formed from reacting C3H6O with epichlorohydrin are used to produce protective and durable coatings, adhesives, composites and encapsulation of electronics. C3H6O acts as a intermediate in producing other chemical compounds like propylene glycol monomethyl ether and propylene glycol monomethyl ether acetate which are solvents for inks, coatings and electronics packaging. It can also react with amines to form amine oxide surfactants that are used in personal care, home care and industrial cleaning products. Health and Environmental Effects While C3H6O is useful industrially, it also poses certain health risks. It is a volatile flammable liquid and contact with eyes and skin can cause irritation. Inhalation may cause respiratory issues. Studies have shown it to be possibly carcinogenic to humans and its vapors are harmful if inhaled in large quantities. Organizations like the EPA have classified C3H6O as a hazardous air pollutant and possible human carcinogen. Manufacturing sites emitting this chemical are subject to regulations regarding its release into the environment. Proper handling and storage in a well-ventilated area along with use of protective equipment is important when working with propylene oxide. Spills contaminating soil and water need remediation to minimize environmental damage. Conclusion In summary, C3H6O is a versatile chemical building block found in many industrial and commercial products. While serving important applications, its adverse health effects require careful production and usage practices, transportation, storage and disposal according to safety guidelines. Ongoing research explores safer production technologies for this valuable oxirane compound supporting many modern industries. With proper risk management measures, propylene oxide will continue meeting manufacturing needs sustainably.

[univdatosmarket]

Global Ethylene Propylene Diene Monomer Market is expected to grow at a significant rate of around 8% during the forecast period.

[umadeochake]

Growth of Propylene Oxide Market Quantitative and Qualitative Analysis | Industry Challenges and Forecast till 2036

Research Nester has released a report titled “Propylene oxide Market: – Global Demand Analysis & Opportunity Outlook 2036” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

The global propylene oxide market has shown significant growth on account of increasing application of propylene oxide as a chemical intermediate. Backed by this factor, the propylene oxide market is estimated to witness significant growth in the coming years. In 2019, the market accounted for a market value of USD 13875.7 million and is estimated to grow by a CAGR of 5% over the forecast period of 2023-2035. A significant trend in the propylene oxide market has been the development and commercialization of new production technologies, which not only reduces the production of by-products but also does not use any chlorine-based chemistry.

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Regionally, the global propylene oxide market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa region. Among the market in these regions, the Asia Pacific propylene oxide market is estimated to witness highest growth throughout the forecast period. The region is home to some of the fastest-growing economies of the world, including China, India, Bangladesh, and others. The evolution of construction, automotive, food & beverage and other industries has further strengthened the overall economic growth of the region, which is further anticipated to create lucrative opportunities for the new entrants in the market. 

The Europe propylene oxide market is expected to touch a value of USD 4199.5 by 2035 by growing at a CAGR of 2.8 percent over the forecast period. Propylene oxide has gained popularity in the European market owing to its growing adoption in end-use industries such as construction & manufacturing, automobiles, consumer electronics, and packaging. Germany is the largest as well as the fastest-growing country in Europe propylene oxide market. The rapidly growing construction sector in the country on account of population growth, demographic changes, and favorable environment has influenced the market growth. The building & construction industry is one of Europe’s main consumer of propylene oxide.

The global propylene oxide market is segmented on the basis of production process into chlorohydrin process, styrene monomer process, hydrogen peroxide process, TBA co-product process, and cumene-based process. Among these, is it anticipated that the chlorohydrin (CPHO) process will account for a market value of about USD 4920.6 million by 2020. CHPO is the oldest process used in the production of propylene oxide and held the largest market share in 2019.

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Increasing Use Of Propylene Oxide As A Chemical Intermediate to Drive the Market Growth

Increased demand for propylene oxide for the production of chemical intermediates such as for the polyurethane and solvent industries, is a key factor expected to drive the growth of the market over the forecast period. The rapidly growing healthcare sector is also expected to create lucrative opportunities for the global propylene oxide market. Propylene oxide is used for low-temperature sterilization of medical devices, bandages, and various other pharmaceutical products. It also functions as an essential chemical intermediate for the manufacture of propylene glycol, which is widely used in the chemical, food & beverage, pharmaceutical and cosmetics industries. Over the forecasted period, this factor is expected to drive the growth of the global demand for propylene oxide.

However, the possible carcinogenicity associated with the application of propylene oxide along with the environmental liability associated with the chlorohydrin process for the production of propylene oxideis expected to serve as a restraining factor in the growth of propylene oxide market during the forecast period.

This report also provides the existing competitive scenario of some of the key players of the propylene oxide market which includes company profiling of Dow, Balchem Inc (NASDAQ: BCPC), BASF SE (ETR: BAS), Ashland (NYSE: ASH); Alfa Aesar, Thermo Fisher Scientific.; Sumitomo Chemical Co, Ltd. (TYO: 4005), Huntsman International LLC (NYSE: HUN), Lyondellbasell Industries Holdings B.V. (NYSE: LYB), Eastman Chemical Company (NYSE: EMN) among other prominent players.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Propylene Oxide Market– Global Demand Analysis & Opportunity Outlook 2036”, analyses the overall propylene oxide industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global propylene oxide market in the near future.

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[chemicalsectorupdates]

Sustainable Practices in the Propylene Oxide Market: Environmental Implications

Propylene Oxide: A Versatile Chemical Used Widely in Various Industries Production and Uses of Propylene Oxide Propylene oxide is primarily produced through a chemical process called chlorohydrin process where propylene is reacted with chlorine and water in the presence of a catalyst. This commercial process results in an approximate yield of 90% of propylene oxide. Propylene oxide production began back in the 1950s and has grown significantly over the past few decades with increasing applications across various industries. On an average, over 10 million metric tons of propylene oxide is produced globally every year to meet the growing demand. Main applications of propylene oxide include production of polyether polyols, which are further used to manufacture polyurethane flexible and rigid foams. These foams find applications as insulation in buildings as well as packaging, furniture, bedding, and automotive industries. Propylene oxide is also used to produce propylene glycols that are deployed as antifreeze and deicing fluids as well as solvents in food, pharmaceuticals and various other industries. Other notable applications of propylene oxide include production of specialty chemicals like glycol ethers used as solvents and surfactants. Global Demand and Key Markets Presently, Asia Pacific region accounts for over 50% of global propylene oxide production led by China. Other major producers include Europe and North America. The propylene oxide market is forecast to grow at over 4% annually driven by the expanding construction as well as automotive industries in developing countries and the need for insulating materials as well as car seats made from polyurethane foam. The polyurethane flexible foams produced using propylene oxide find widespread applications in bedding, furniture, automotive seating and insulation in buildings across all geographies. The polyurethane rigid foams are extensively used in construction projects for thermal and acoustic insulation. Future growth in infrastructure and real estate markets in Asian countries like India and construction growth in Africa and Middle East is expected to drive demand for insulating polyurethane foams and propylene oxide in turn. Fluctuating Raw Material Prices The prices of propylene oxide are closely linked to that of propylene, which is the main raw material. Over the past year, propylene prices have witnessed volatility due to supply disruptions and rising energy prices impacting global propylene oxide market. Any fluctuations in oil and natural gas prices from where propylene is derived further impact the prices. Presently, propylene prices and hence propylene oxide prices are on an upward trend driven by tight supply of propylene following repairs in refineries and outages at cracker units. Environmental Regulations Like several chemical commodities, propylene oxide production and operations are also regulated for environmental reasons given its hazardous nature during production. Manufacturers have to adhere to standards pertaining to air pollution control equipment at production facilities and strict disposal guidelines for any propylene oxide waste generated. Some regions and standards organizations are also promoting transition towards more sustainable production methods. In summary, propylene oxide is a critical petrochemical supporting major manufacturing sectors globally through its diverse applications especially in polyurethane products. While raw material price trends remain an important factor, the increasing uses of propylene oxide based chemicals coupled with downstream industry growth ensure steady future prospects for this multimillion ton chemical market. Adherence to environmental standards during production will also be a key aspect for sustainability.

[mitalipingale]

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The Propylene Oxide Market in 2023 is US$ 25.2 billion, and is expected to reach US$ 39.62 billion by 2031 at a CAGR of 5.80%.

[imarcmarketreport]

Propylene Oxide Market Size, Report Analysis, Industry Trends, Forecast 2024-2032

IMARC Group's report titled "Propylene Oxide Market Report by Production Process (Chlorohydrin Process (CHPO), Styrene Monomer Process, Hydrogen Peroxide Process, TBA Co-Product Process, Cumene-based Process), Application (Polyether Polyols, Propylene Glycols, Propylene Glycol Ethers (PGE), Polyalkylene Glycols, and Others), End Use Industry (Automotive, Construction, Chemicals and Pharmaceuticals, Packaging, Textile and Furnishing, and Others), and Region 2024-2032". The global propylene oxide market size reached US$ 21.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.

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Factors Affecting the Growth of the Global Propylene Oxide Industry:

Rising Demand from End-Use Industries:

The market is driven by the increasing demand from various end-use industries including automotive, construction, and electronics which heavily rely on propylene oxide to produce polyurethane foams, which find extensive applications in these domains. In addition, the growing automotive industry uses propylene oxide-based polyurethane foams for manufacturing seat cushions, headrests, and various interior components which offer superior comfort and durability, making them an attractive choice for manufacturers and consumers, thus contributing to the market growth. Moreover, the growing construction industry benefits from the versatility of propylene oxide-derived polyurethane foams. These foams are employed in insulation materials, sealants, and adhesives, contributing to enhanced energy efficiency and building durability.

Changing Consumer Preferences:

The changing consumer preferences, particularly in furniture and bedding segments, are influencing the market growth. This shift in consumer choices is largely attributable to the comfort and durability offered by products made with propylene oxide-based foams. Moreover, the growing furniture industry uses propylene oxide-derived polyurethane foams known for their ability to provide plush comfort and improved resilience among consumers seeking comfort and longevity in their purchases. Also, Sofas, chairs, and mattresses produced with these foams offer exceptional cushioning and support, enhancing the overall user experience. As consumers prioritize these qualities, manufacturers are responding by incorporating propylene oxide-based foams into their designs.

Ongoing Innovation and Research Activities:

The continuous research and innovation in propylene oxide production are driving the market growth. These activities are focused on developing more efficient and sustainable methods for propylene oxide synthesis, leading to reduced production costs and expanded application possibilities. Also, researchers and industry experts are actively exploring novel production processes that can enhance the yield and environmental sustainability of propylene oxide manufacturing. Moreover, several innovations such as the use of advanced catalysts and alternative feedstock materials are investigated to improve process efficiency and reduce energy consumption which make propylene oxide production more cost-effective and align with the growing emphasis on sustainability.

Leading Companies Operating in the Global Propylene Oxide Industry:

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.

Tokuyama Corporation

Global Propylene Oxide Market Report Segmentation:

By Production Process:

Chlorohydrin Process (CHPO)

Styrene Monomer Process

Hydrogen Peroxide Process

TBA Co-Product Process

Cumene-based Process

The styrene monomer process holds the largest share due to its cost-effectiveness and efficiency.

By Application:

Polyether Polyols

Propylene Glycols

Propylene Glycol Ethers (PGE)

Polyalkylene Glycols

Others

Polyether polyols are dominating the market due to their extensive use in various industries, including construction and automotive, for their versatility and performance.

By End Use:

Automotive

Construction

Chemicals and Pharmaceuticals

Packaging

Textile and Furnishing

Others

The automotive industry is leading the market due to the increasing demand for polyurethane-based products in vehicle manufacturing.

Regional Insights:

North America: (United States, Canada)

Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)

Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

Latin America: (Brazil, Mexico, Others)

Middle East and Africa

Asia Pacific market is driven by the rapid industrialization and significant presence of end-user industries, especially in countries such as China and India.

Global Propylene Oxide Market Trends:

The widespread adoption of eco-friendly production methods, with an increasing focus on reducing emissions and minimizing environmental impact is influencing the market growth. Additionally, the automotive and construction sectors are driving the demand for propylene oxide-based products, such as polyurethane foams and glycol ethers, due to their versatility and durability.

Moreover, stringent regulations on chemical safety and transportation are reshaping the market dynamics, leading to a shift toward safer handling and storage practices. As the global economy continues to recover, the propylene oxide market is expected to show steady growth, driven by these trends and a persistent need for its derivatives in several applications.

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[sarena1995]

Propylene Glycol Market Size, Share, Growth, Analysis, Trend & Forecast to 2032 | Credence Research

The latest market report published by Credence Research, Inc. The global demand for Propylene Glycol Market was valued at USD 4.13 Billion in 2023 and is expected to reach USD 6.9 Billion in 2032, growing at a CAGR of 6.2% between 2023 and 2032. 

Propylene Glycol (PG) has established itself as a versatile chemical compound with a wide range of applications across various industries. As we delve into 2024, the Propylene Glycol market continues to experience significant growth and diversification. This article will discuss the current state of the Propylene Glycol market, key trends, and the factors driving its expansion.

Propylene Glycol is a colorless, odorless, and tasteless liquid that has gained popularity for its unique properties. It is commonly used as a humectant, solvent, and antifreeze agent. The market for Propylene Glycol has seen steady growth in recent years, with a compound annual growth rate (CAGR) of around 5% over the past decade. This growth can be attributed to its widespread use across various industries.

Browse the Full Report: https://www.credenceresearch.com/report/propylene-glycol-market

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Propylene Oxide Market Size, Analysis and Forecast 2031

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Regional Analysis of the Propylene Oxide Market: Key Insights

Propylene, also known as propene, is an unsaturated organic compound with the chemical formula C3H6. It serves as a basic petrochemical raw material and is mainly used to produce polypropylene and propylene oxide. Polypropylene is a highly durable yet lightweight plastic used in a wide range of applications such as packaging, textiles, stationery, automotive and construction materials.

The global propylene market is estimated to be valued at US$ 151 billion in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023-2027, as highlighted in a new report published by Coherent Market Insights. Market Opportunity:

Rising polypropylene demand represents a major opportunity for the propylene market. Asia Pacific is witnessing robust growth in the polypropylene market owing to increased consumption in packaging, automotive, and construction industries. China alone accounts for over 40% of global polypropylene demand. The country's 13th Five-Year Plan focuses on increasing investment in transportation and rural infrastructure development which will strengthen the polypropylene market. India also promises strong polypropylene demand on account of rapid urbanization, rising disposable incomes, and growth in end-use industries. As polypropylene is the primary derivative of propylene, its surging demand across developing economies will propel the propylene market forward during the forecast period. Porter's Analysis

Threat of new entrants: The threat of new entrants in the propylene market is low due to the high costs associated with production facilities and infrastructure. Established players who have access to raw materials and distribution networks have significant advantages over new players. Bargaining power of buyers: The bargaining power of buyers in the propylene market is high. Buyers have high bargaining power due to the availability of substitute products and undifferentiated nature of propylene. Buyers can easily switch between suppliers based on price and quality. Bargaining power of suppliers: The bargaining power of suppliers is moderate. While there are few major suppliers of raw materials for propylene production, suppliers still depend on established players for off-take agreements. Supplier switching costs are also moderate. Threat of new substitutes: The threat of substitutes is low to moderate. While functionally similar chemicals can be used as substitutes for some applications of propylene, limitations in terms properties restrict broad substitution. Established application areas remain hard to substitute. Competitive rivalry: The competitive rivalry in the global propylene market is high due to the presence of numerous domestic and international players competing for market share. Players compete based on capabilities, product quality, and price. SWOT Analysis

Strengths: Propylene has diverse applications and is a basic petrochemical with growing demand. Leading players have access to raw materials and economies of scale. Weaknesses: Propylene production is capital intensive and vulnerable to fluctuations in crude oil/natural gas prices. Environmental regulations regarding emissions are increasing production costs. Opportunities: Rising polymer demand from packaging and construction industries in Asia present an opportunity. Technologies to produce propylene as a byproduct of ethanol provide new opportunities. Threats: Overcapacity can lead to pricing pressures. Strict environmental norms regarding air pollution are a challenge. Substitution threat from alternative chemicals is mounting. Key Takeaways

The global propylene market is expected to witness high growth in the coming years. The global propylene market is estimated to be valued at US$ 151 billion in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023-2027.

Rapid industrialization and infrastructural development are driving growth in Asia Pacific. China dominates global propylene demand and capacity additions. The Chinese government is investing heavily in propylene cracker projects to fulfill domestic demand. North America and Europe account for over 30% share of global propylene consumption led by demand from polymer industries. They are mature markets with stable growth. However, future capacity additions are planned in the Middle East and Asia Pacific regions to leverage low feedstock costs. Key players: Key players operating in the propylene market are Dow Chemical, ExxonMobil, LyondellBasell, SABIC, and BASF. These major players have integrated production facilities and long term offtake agreements with buyers to maintain consistent supply.