The Propylene Oxide market is set for rapid growth driven by demand for sustainable products and technological advancements across industries.

AUSTIN, TX, UNITED STATES, February 6, 2025 /EINPresswire.com/ -- The Propylene Oxide Market Size was valued at USD 20.97 Billion in 2023 and is expected to reach USD 34.75 Billion by 2032, growing at a CAGR of 5.79% over the forecast period of 2024-2032.  

Propylene Oxide has a high demand in the application of polyether polyols in foams, adhesives, and coatings. The demand for Propylene Oxide in the European region is growing and is now finding its way into sustainable solutions through the automotive and construction industries. Another factor is global efforts to decrease carbon emissions, which has an impact on investments in energy-efficient production methods of Propylene Oxide, fueling the market growth further.

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Key Players:

- Dow Inc. (Polyether Polyols, Propylene Glycol)
- LyondellBasell Industries Holdings B.V. (Polypropylene, Polyethylene)
- Royal Dutch Shell PLC (Polyether Polyols, Propylene Glycol)
- BASF SE (Propylene Glycol, Polyether Polyols)
- SKC Company (Propylene Glycol, Polyurethane Materials)
- AGC Inc. (Propylene Glycol, Polyether Polyols)
- Repsol S.A. (Polyether Polyols, Propylene Glycol)
- Sumitomo Chemical Co., Ltd. (Propylene Glycol, Polyether Polyols)
- Tokuyama Corporation (Propylene Glycol, Polyether Polyols)
- Indorama Ventures Public Company (Polyester, PET Resins)
- INEOS Oxide (Ethylene Oxide, Propylene Oxide)
- Jishen Chemical Industry Co. Ltd. (Propylene Glycol, Polyether Polyols)
- Manali Petrochemicals (Propylene Glycol, Polyether Polyols)
- Tianjin Dagu Chemical Co., Ltd. (Propylene Glycol, Polyether Polyols)
- PJSC Nizhnekamskneftekhim (Propylene Glycol, Polyether Polyols)
- PCC Rokita (Propylene Glycol, Polyether Polyols)
- Wudi XINYUE Chemical Co., Ltd. (Propylene Glycol, Polyether Polyols)
- Oltchim S.A. (Propylene Glycol, Polyether Polyols)
- Wanhua Chemical Group Co. Ltd. (Polyurethane Materials, Propylene Glycol)
- S–OIL Corporation (Propylene Glycol, Polyether Polyols)

Market Segmentation and Sub-Segmentation Included are:

By Application
- Polyether Polyols
- Propylene Glycol
- Glycol Ethers
- Others

In 2023, the Asia Pacific region dominated the propylene oxide market with a 43.5% share with the highest CAGR through 2032.

The growth is fueled by swift industrialization, urbanization, and consumerism in nations such as China, India, Japan, and South Korea. Demand for propylene oxide-based products is driven primarily by key sectors, including automotive, construction, electronics, and textiles. Investments in sustainable production and stricter environmental regulations further support regional growth.

North America is expected to be the fastest-growing region in the propylene oxide market, with a highest CAGR through from 2024-2032.

Significant growth led by the U.S. with demand in automotive sector for lightweight, energy efficient components driving the high demand for propylene oxide This booming market is also propelling this region further due to its investment on sustainable production and greener technologies, e.g., hydrogen peroxide-based processes and growing Canadian and Mexican manufacturing bases.

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Polyether polyols accounted for the largest market share of approximately 47.8% in 2023

The growing use of polyurethanes by the automotive, construction, and furniture sectors, particularly in developing economies and with trends for industrialization and urbanization growth, will drive this growth. Polyether polyols are also highly relevant as the automotive and construction industries are looking for lightweight, energy-efficient solutions. The increasing focus on sustainability and green products is also expected to enhance demand, as these solutions fall broadly in the high-performance polyurethane family.

By Process
- Chlorohydrin Process
- Styrene Monomer Process
- Hydrogen Peroxide Process
- TBA Co-Product Process
- Cumene-based Process

The Chlorohydrin process accounted for the largest share of the propylene oxide market, at 34.9% market share in 2023.

It is ubiquitous and has been commercially used for ages, which solidifies its leading position. A novel and cost-effective approach as described in patents 10/11 involves the reaction of propylene with chloride to form propylene chlorohydrin, thereafter oxidated to yield propylene oxide. Due to such characteristics, it is advantageous in large-scale manufacturing, especially in North America and Asia, that the cost-competitiveness and relatively high-presented production scale are key driving forces in the petrochemical industry.

By End Use
- Automotive
- Building & Construction
- Textile & Furnishing
- Chemical & Pharmaceutical
- Packaging
- Electronics
- Others

The Automotive sector dominated the propylene oxide market, in 2023, accounting for 30.6% revenue share.

The demand for polyurethane foams in vital automotive applications such as seat cushioning and insulation is driving this dominance. Coming from a unit that provides multiple propylene oxide derivatives: one key derivative is polypropylene, which accounts for most plastics in vehicles where lightweighting is important for the auto industry. Moreover, the increasing focus on EVs, which use lightweight materials to boost energy efficiency, is expected to continue fueling propylene oxide consumption in the automotive industry.

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