As the need for polyurethanes grows in various segments such
as packaging, automotive, footwear, furniture, and construction, the worldwide
propylene oxide market is likely to increase significantly. Over the next seven
years, the growing usage of polyurethanes in sealants, thermal insulators, and
flooring materials will propel the sector forward. Over the projection period,
rising infrastructure investment in China, Malaysia, Singapore, Brazil, India,
the United Arab Emirates, Saudi Arabia, and Qatar is likely to drive demand.
Furthermore, over the forecast period, the rising automotive sector in several
nations such as China, Mexico, the United States, and India is predicted to
increase market penetration.
The chemical intermediate is largely used to make
elastomers, adhesives, flexible and rigid foams, coatings, and injection
mouldings, which are widely utilised in gasoline tanks, tub-shower combos, and
boat hulls. Propylene
oxide market growth will be aided by rising usage of the product in the
manufacturing of propylene glycols, polyalkylene glycols, and propylene glycol
ethers. Industry penetration will be aided by increased consumption of
defoamers, lubricants, oil-field chemicals, greases, wetting agents, latex
paints, and water scavengers.
Over the next seven years, Asia Pacific is predicted to be a
significant propylene oxide market, with quick expansion owing to great growth
in different end-use industries such as furniture, automotive, and
construction, as well as increased plant capacity for polyurethanes. In
addition, over the projected period, the region's rising personal care,
automotive, and food and beverage sectors will lead to an increase in demand.
Over the next seven years, China and India will benefit from abundant raw
materials, particularly propylene. Furthermore, growth will be fueled by
China's expanding production base for the product over the projection period.
Because of the rising automotive and electronics industries,
North America will see a significant increase during the next seven years. Over
the projection period, technological improvements by various players in the
United States, Mexico, and Canada will augment demand as a result of the
region's booming construction sector, high disposable income, and increased
living standards.
Comments
Post a Comment