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Chicago, July 30, 2021 /PRNewswire Benzene), end-use industries (Automotive, Building & Construction) and Geography-Global Forecast to 2026", released by MarketsandMarkets™, predicts that the propylene oxide market will grow from US$22.5 billion in 2021 to US$29.5 billion in 2026. The compound annual growth rate from 2021 to 2026 is 5.6%. 2026.  

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The propylene oxide market is mainly driven by the growing demand for polyurethane in various end-use industries such as automobiles, construction and construction, textiles and furniture, chemicals and pharmaceuticals, packaging and electronics. Polyurethane is being used more and more in insulation materials, sealants and flooring materials, and it is expected to drive market growth in the near future.

The automotive industry accounts for the largest share of the propylene oxide market.

Based on the end-use industry, the automotive industry has the largest share of the propylene oxide market. In 2020, nearly 77 million cars were produced worldwide. This has led to a high demand for polyurethane foam, which ultimately led to an increase in the global demand for propylene oxide. Building and construction, chemistry and pharmaceuticals are other major applications adopted in the propylene oxide market.

During the forecast period, polyether polyol applications lead the global propylene oxide market.

Based on application, polyether polyols occupy the largest market share in the propylene oxide market. Such a large share is attributed to the fact that polyether polyol is the basic raw material used to produce polyurethane foam. On a global scale, polyurethane foam has been adopted by multiple end-use industries due to its versatility and practicality. This dependence is expected to continue into the forecast period. Therefore, by 2026, polyether polyol applications are expected to occupy the largest market share.

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The Asia-Pacific region accounts for the largest share of the propylene oxide market.

The Asia-Pacific region will account for the largest market share of the propylene oxide market in 2020. The growth of the market in this region can be attributed to the consumption of propylene oxide in polyurethane foam applications. The region is a global leader in manufacturing, including automobiles, chemicals and pharmaceuticals, construction materials, textiles and electronics. All these industries consume polyurethane foam in one way or another. Therefore, the demand for polyurethane foam intermediates has been high, such as polyether polyols. In addition, China has also increased propylene oxide production capacity to meet local demand. This is expected to further boost the market in the Asia-Pacific region.

Dow Inc. (United States), LyondellBasell Industries Holdings (Netherlands), Royal Dutch Shell (Netherlands), Indorama Ventures (United States), BASF SE (Germany), Repsol (Spain), Sumitomo Chemical Co. (Japan), INEOS Oxide (Switzerland) ), SKC (South Korea), S-OIL CORPORATION (South Korea), Befar Group (China), Tokyo Chemical Industry Co. (Japan), Wanhua Chemical Group Co., (China), Wudi XINYUE Chemical Co. ., (China) , Manali Petrochemicals (India), Jishen Chemical Industry Co., (China), Oltchim (Romania), PCC Rokita (Poland), PJSC Nizhnekamskneftekhim (Russia) and Tianjin Dagu Chemical Co., Ltd. (China) are some of the propylene oxide market Participant.

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Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441 Email: [email protection] Research Insight: https://www.marketsandmarkets.com/ResearchInsight/propylene- Oxide market.asp Visit our website: https://www.marketsandmarkets.com/ Content source: https://www.marketsandmarkets.com/PressReleases/acryl-oxide.asp 

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