Polypropylene Oxide Market Analysis:
Polypropylene oxide is a volatile, colorless, and odorless organic liquid used in the manufacture of polyurethane foams. Polyurethane foams are extensively used for cushioning and fabricating purposes in construction and automobile industries. It is also used in refrigerators for insulation and in footwear. Furthermore, it also acts as a chemical intermediate in the production of propylene glycol and polyether resins, which have various applications in industries such as medical and textile.
COVID-19 scenario analysis:
- The polypropylene oxide market witnessed a serious downfall due to the shutdown of automobile and construction industries, which experienced economic slowdown due to the pandemic. This is attributed to the fact that a significant fraction of polypropylene oxide is utilized to manufacture polyurethane foam, which is consumed by these two industries.
- However, with the significant increase in the usage of alcohol-based hand sanitizers, the demand for propylene glycol, which is manufactured from polypropylene oxide, has increased steeply. This has acted in the favor of the polypropylene oxide market.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Polypropylene oxide acts as the building blocks of polyurethane foams. The rapid growth of construction and automobile industries and consumption of polyurethane foams have increased significant, thereby fueling the growth of the polypropylene oxide market. Polyurethane foams are widely used as cushions in seats, armrests, & other parts of a vehicle and also applied in fabricating the interiors of a car. It is also used in furniture and lining the interior walls of a building due to its superior insulating properties. Polyurethane foams are applied to make beddings and carpets, and are gaining popularity due to their superior quality.
Furthermore, propylene glycol produced from polypropylene oxide is used as solvent in the pharmaceutical industry and humectants in alcohol-based hand sanitizer. The product also acts as an antifreeze agent and is used to produce theatrical smoke and fog to provide special effects in movies and plays. However, the fluctuating prices of the raw materials and the toxic nature of polypropylene oxide restrict the growth of the market. Moreover, with the continuous product development, the use of polypropylene oxide in pharmaceutical, theatrical business, and others is expected to drive the growth of the market.
The Asia-Pacific polypropylene oxide market holds the largest share of the global polypropylene oxide market due to its escalating demand in automobile and construction industries of the region. In North America, the market is expected to grow significantly with increase in demands for polyurethane foams to obtain better interiors for households and commercial places.
Key benefits of the report:
- This study presents the analytical depiction of the polypropylene oxide market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the polypropylene oxide market share.
- The current market is quantitatively analyzed to highlight the polypropylene oxide market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the polypropylene oxide market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Polypropylene Oxide Market Report Highlights
By Production Process
By Industry Vertical
Key Market Players
Ineos Group Limited, Manali Petrochemical Limited, Balchem, The Dow Chemical Company, Sumitomo Chemicals Co., BASF SE, LyondellBasell Industries N.V., Saudi Arabia Basic Industries Corporation, Huntsman Corporation, Royal Dutch Shell Plc.