Propylene Oxide Market

Market Leader - Propylene Oxide Market

The propylene oxide market is projected to grow from USD 13.43 Billion in 2017 to USD 17.53 Billion by 2022, at a CAGR of 5.5% from 2017 to 2022. Increase in demand for polyether polyols, propylene glycol, glycol ethers, among others from the end-use industries, such as automotive, building & construction, textile & furnishing, and packaging is expected to drive the growth of the propylene oxide market during the forecast period. The Dow Chemical Company (US), LyondellBasell Industries (Netherlands), Royal Dutch Shell (Netherlands), Huntsman Corporation (US), BASF (Germany), Asahi Glass Company (Japan), Repsol, (Spain), Sumitomo Chemical Company (Japan), SKC Co., Ltd. (South Korea), Tokuyama Corporation (Japan), Oltchim (Romania), PCC Rokita (Poland), PJSC Nizhnekamskneftekhim (Russia), Tianjin Dagu Chemical Co. (China), and INEOS Oxide (Switzerland) are some of the leading players in the propylene oxide market.

The key market players in the propylene oxide market are focusing on adopting the various strategies, such as expansions, joint ventures, mergers & acquisitions, and agreements to cater to the increased demand for propylene oxide from different end-use industries.

In 2014, The Dow Chemical Company started operations at SCG-Dow Group (Thailand), a joint venture between Dow and Siam Cement Group (Thailand) for its new Propylene Oxide (PO) facility. This new facility has a capacity of 390,000 tons per annum of PO using the Hydrogen Peroxide to Propylene Oxide (HPPO) technology. With this development, the company further strengthened its position in the Asian propylene oxide market.  

In 2015, LyondellBasell Industries N.V. planned to build a PO/TBA plant in Houston, (US) with an annual production capacity of 1 billion pounds propylene oxide and 2 billion pounds tertiary butyl alcohol. The plant is expected to be operational by 2020. With this development, LyondellBasell is expected to become the largest producer of propylene oxide using the PO/TBA technology and strengthen its position in the propylene oxide market.

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In 2016, Repsol signed an agreement with Tianjin Bohai Chemical Development (China), a subsidiary of the Tianjin Bohai Chemical Group (China), to license the technology for a styrene and propylene oxide production plant. The plant has a production capacity of 200,000 TPA for Propylene Oxide (PO) and 450000 TPA for the styrene monomer. With this development, Repsol strengthened its position in the propylene oxide market.

In November 2015, Sumitomo Chemical and S-OIL Corp. (South Korea) signed an agreement for technology supply. As per the agreement, Sumitomo licenses its polypropylene (PP) and propylene oxide (PO) manufacturing technologies to S-OIL Corp. This development helped the company increase its presence in the Asian market for propylene oxide.

Related Reports:

Propylene Oxide Market by Application (Polyether Polyols, Propylene Glycol), Process (Chlorohydrin, Styrene Monomer, TBA Co-Product, Cumene-based, Hydrogen Peroxide), End-use Industry (Automotive, Building & Construction), and Region - Global Forecast to 2022

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Report Code
CH 5512
RI Published ON
8/21/2017
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