Propylene Oxide Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

Global Propylene Oxide Market Set to Surge, Driven by Automotive and Construction Industries

According to Fairfield Market Research's latest market report, the global propylene oxide market is poised to reach a value of US$ 19 Bn in 2024, with a projected growth rate of 6.0% to reach US$ 29 Bn by 2031. Propylene oxide (C3H6O), a synthetic cyclic ether widely utilized across various industries, is primarily manufactured through dehydrochlorinating propylene chlorohydrin or indirectly oxidizing propylene. Its extensive applications range from chemicals manufacturing to automotive, electronics, textiles, and furniture industries, with the South Asia Pacific region anticipated to exhibit rapid growth due to expanding end-use industries.

Market Dynamics:

The increasing demand from diverse end-use industries, such as construction, automotive, textile, and aerospace, is driving the growth of the propylene oxide market. Propylene oxide serves as a crucial intermediate for a wide array of products, including construction chemicals, paints, coatings, and adhesives. Additionally, its role in the production of propylene glycol, essential in numerous food products, is fueling market expansion. However, concerns regarding its toxic nature and the availability of substitute products pose challenges to market growth.

Opportunities:

Despite challenges, thriving demand from the automotive and construction industries presents lucrative opportunities for propylene oxide manufacturers. The construction sector's focus on energy-efficient buildings has boosted the demand for polyurethane materials, wherein propylene oxide plays a pivotal role. Similarly, the burgeoning automotive sector, particularly in emerging economies, promises increased profitability for propylene oxide suppliers.

Country-wise Insights:

In the United States, which accounts for nearly 21.9% of the global propylene oxide market, significant growth opportunities are expected, driven by robust demand from the building, construction, automotive, aerospace, and property markets. Likewise, China's propylene oxide market is estimated to witness a growth rate of 5.8%, propelled by rising demand across various industries and the nation's industrial economy.

Category-wise Insights:

Polyether polyols dominate the propylene oxide market with a value share of 69.7%, owing to their extensive use in urethane and non-urethane applications. Similarly, the propylene glycols segment, accounting for 19.4% of the global market, is expected to witness significant growth, fueled by its diverse applications in the chemical, food, and pharmaceutical industries.

Competitive Analysis:

Key propylene oxide manufacturers are focused on product development and strengthening their supply chains to maintain competitiveness. While major players concentrate on acquiring smaller counterparts, smaller companies are urged to invest in R&D to introduce innovative products and expand their global presence.

Key Companies Profiled:

LyondellBasell Industries
The Dow Chemicals
SK Chemicals
Royal Dutch Shell
Sumitomo Chemical Co., Ltd.
BASF SE
Huntsman International LLC.
AGC Chemicals
Repsol
CSPC Pharmaceutical Group Limited
Air Liquide
Air Products and Chemicals, Inc.
China Petrochemical Corporation
Eastman Chemical Company
Mitsui Chemicals, Inc.
LOTTE CHEMICAL CORPORATION
PetroChina International Co., Ltd.
Ineos Group Limited
Tokuyama Corporation
Hanwha Group

Propylene Oxide Market Segmentation

By Applications, the Propylene Oxide market is segmented as:

Polyether Polyols
Propylene Glycols
Propylene Glycol Ethers
Others
- Flame Retardants
- Fumigants
- Textile Surfactants
- Modified Starch

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

1. Executive Summary

1.1. Global Propylene Oxide Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Propylene Oxide Market Outlook, 2018 - 2031

3.1. Global Propylene Oxide Market Outlook, by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Chlorohydrin Process
  - 3.1.1.2. Cumene-based Process
  - 3.1.1.3. TBA Co-oxidation Process
  - 3.1.1.4. HPPO (Hydrogen Peroxide to Propylene Oxide) Process
  - 3.1.1.5. Styrene Monomer-based Process
  - 3.1.1.6. Others
3.2. Global Propylene Oxide Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Polyether Polyols (Used in Polyurethane Production)
  - 3.2.1.2. Propylene Glycol
  - 3.2.1.3. Glycol Ethers
  - 3.2.1.4. Flame Retardants
  - 3.2.1.5. Fumigants
  - 3.2.1.6. Others
3.3. Global Propylene Oxide Market Outlook, by Region, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Propylene Oxide Market Outlook, 2018 - 2031

4.1. North America Propylene Oxide Market Outlook, by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Chlorohydrin Process
  - 4.1.1.2. Cumene-based Process
  - 4.1.1.3. TBA Co-oxidation Process
  - 4.1.1.4. HPPO (Hydrogen Peroxide to Propylene Oxide) Process
  - 4.1.1.5. Styrene Monomer-based Process
  - 4.1.1.6. Others
4.2. North America Propylene Oxide Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Polyether Polyols (Used in Polyurethane Production)
  - 4.2.1.2. Propylene Glycol
  - 4.2.1.3. Glycol Ethers
  - 4.2.1.4. Flame Retardants
  - 4.2.1.5. Fumigants
  - 4.2.1.6. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Propylene Oxide Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.2. U.S. Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.3. Canada Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.4. Canada Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Propylene Oxide Market Outlook, 2018 - 2031

5.1. Europe Propylene Oxide Market Outlook, by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Chlorohydrin Process
  - 5.1.1.2. Cumene-based Process
  - 5.1.1.3. TBA Co-oxidation Process
  - 5.1.1.4. HPPO (Hydrogen Peroxide to Propylene Oxide) Process
  - 5.1.1.5. Styrene Monomer-based Process
  - 5.1.1.6. Others
5.2. Europe Propylene Oxide Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Polyether Polyols (Used in Polyurethane Production)
  - 5.2.1.2. Propylene Glycol
  - 5.2.1.3. Glycol Ethers
  - 5.2.1.4. Flame Retardants
  - 5.2.1.5. Fumigants
  - 5.2.1.6. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Propylene Oxide Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.2. Germany Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.3. U.K. Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.4. U.K. Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.5. France Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.6. France Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.7. Italy Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.8. Italy Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.9. Turkey Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.10. Turkey Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.11. Russia Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.12. Russia Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.13. Rest of Europe Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.14. Rest of Europe Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Propylene Oxide Market Outlook, 2018 - 2031

6.1. Asia Pacific Propylene Oxide Market Outlook, by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Chlorohydrin Process
  - 6.1.1.2. Cumene-based Process
  - 6.1.1.3. TBA Co-oxidation Process
  - 6.1.1.4. HPPO (Hydrogen Peroxide to Propylene Oxide) Process
  - 6.1.1.5. Styrene Monomer-based Process
  - 6.1.1.6. Others
6.2. Asia Pacific Propylene Oxide Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Polyether Polyols (Used in Polyurethane Production)
  - 6.2.1.2. Propylene Glycol
  - 6.2.1.3. Glycol Ethers
  - 6.2.1.4. Flame Retardants
  - 6.2.1.5. Fumigants
  - 6.2.1.6. Others
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Propylene Oxide Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.2. China Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.3. Japan Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.4. Japan Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.5. South Korea Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.6. South Korea Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.7. India Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.8. India Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.9. Southeast Asia Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.10. Southeast Asia Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.11. Rest of Asia Pacific Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.12. Rest of Asia Pacific Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Propylene Oxide Market Outlook, 2018 - 2031

7.1. Latin America Propylene Oxide Market Outlook, by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Chlorohydrin Process
  - 7.1.1.2. Cumene-based Process
  - 7.1.1.3. TBA Co-oxidation Process
  - 7.1.1.4. HPPO (Hydrogen Peroxide to Propylene Oxide) Process
  - 7.1.1.5. Styrene Monomer-based Process
  - 7.1.1.6. Others
7.2. Latin America Propylene Oxide Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Propylene Oxide Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.2. Brazil Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.3. Mexico Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.4. Mexico Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.5. Argentina Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.6. Argentina Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.7. Rest of Latin America Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.8. Rest of Latin America Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Propylene Oxide Market Outlook, 2018 - 2031

8.1. Middle East & Africa Propylene Oxide Market Outlook, by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Chlorohydrin Process
  - 8.1.1.2. Cumene-based Process
  - 8.1.1.3. TBA Co-oxidation Process
  - 8.1.1.4. HPPO (Hydrogen Peroxide to Propylene Oxide) Process
  - 8.1.1.5. Styrene Monomer-based Process
  - 8.1.1.6. Others
8.2. Middle East & Africa Propylene Oxide Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Polyether Polyols (Used in Polyurethane Production)
  - 8.2.1.2. Propylene Glycol
  - 8.2.1.3. Glycol Ethers
  - 8.2.1.4. Flame Retardants
  - 8.2.1.5. Fumigants
  - 8.2.1.6. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Propylene Oxide Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.2. GCC Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.3. South Africa Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.4. South Africa Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.5. Egypt Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.6. Egypt Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.7. Nigeria Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.8. Nigeria Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Propylene Oxide Market by Production Process, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Propylene Oxide Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Manufacturer vs by End Use Heatmap
9.2. Company Market Share Analysis, 2023
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. LyondellBasell Industries
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. SK Chemicals
  - 9.4.2.1. Company Overview
  - 9.4.2.2. Product Portfolio
  - 9.4.2.3. Financial Overview
  - 9.4.2.4. Business Strategies and Development
- 9.4.3. The Dow Chemicals
  - 9.4.3.1. Company Overview
  - 9.4.3.2. Product Portfolio
  - 9.4.3.3. Financial Overview
  - 9.4.3.4. Business Strategies and Development
- 9.4.4. Shell Plc.
  - 9.4.4.1. Company Overview
  - 9.4.4.2. Product Portfolio
  - 9.4.4.3. Financial Overview
  - 9.4.4.4. Business Strategies and Development
- 9.4.5. Sumitomo Chemical Co., Ltd.
  - 9.4.5.1. Company Overview
  - 9.4.5.2. Product Portfolio
  - 9.4.5.3. Financial Overview
  - 9.4.5.4. Business Strategies and Development
- 9.4.6. BASF SE
  - 9.4.6.1. Company Overview
  - 9.4.6.2. Product Portfolio
  - 9.4.6.3. Financial Overview
  - 9.4.6.4. Business Strategies and Development
- 9.4.7. Huntsman International LLC.
  - 9.4.7.1. Company Overview
  - 9.4.7.2. Product Portfolio
  - 9.4.7.3. Financial Overview
  - 9.4.7.4. Business Strategies and Development
- 9.4.8. AGC Chemicals
  - 9.4.8.1. Company Overview
  - 9.4.8.2. Product Portfolio
  - 9.4.8.3. Financial Overview
  - 9.4.8.4. Business Strategies and Development
- 9.4.9. Repsol
  - 9.4.9.1. Company Overview
  - 9.4.9.2. Product Portfolio
  - 9.4.9.3. Financial Overview
  - 9.4.9.4. Business Strategies and Development
- 9.4.10. CSPC Pharmaceutical Group Limited
  - 9.4.10.1. Company Overview
  - 9.4.10.2. Product Portfolio
  - 9.4.10.3. Financial Overview
  - 9.4.10.4. Business Strategies and Development
- 9.4.11. LOTTE CHEMICAL CORPORATION
  - 9.4.11.1. Company Overview
  - 9.4.11.2. Product Portfolio
  - 9.4.11.3. Financial Overview
  - 9.4.11.4. Business Strategies and Development
- 9.4.12. Air Liquide
  - 9.4.12.1. Company Overview
  - 9.4.12.2. Product Portfolio
  - 9.4.12.3. Financial Overview
  - 9.4.12.4. Business Strategies and Development
- 9.4.13. Air Products and Chemicals, Inc.
  - 9.4.13.1. Company Overview
  - 9.4.13.2. Product Portfolio
  - 9.4.13.3. Financial Overview
  - 9.4.13.4. Business Strategies and Development
- 9.4.14. Mitsui Chemicals, Inc.
  - 9.4.14.1. Company Overview
  - 9.4.14.2. Product Portfolio
  - 9.4.14.3. Financial Overview
  - 9.4.14.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations