Polyphenylene Oxide (PPO) Market : Recent Study Including Growth Factors, Applications, Regional Analysis, Key Players and Forecasts Till 2023

Pune, India -- (SBWire) -- 03/20/2018 --The Global Polyphenylene Oxide (PPO) Market is segmented into five regions– North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among them, Asia Pacific accounted for ~47% market in 2016 and is estimated to grow at a tremendous CAGR over the assessment period 2016-2023 due to expanding electrical & electronics as well as automotive & transportation sector which is directly driven by the population upsurge in this region. The Asia Pacific PPO market is categorized into China, India, Japan, Malaysia, Taiwan, Vietnam, South Korea, and Rest of Asia Pacific. Comparatively, China and India together hold the largest market share and is estimated to continue to register speedy growth over the forecast period on account of increasing electronics demand due to rising per capita middle class disposable income. Moreover, shift in automotive manufacturing unit in emerging economies of Asia Pacific such as Indonesia and Thailand is also predicted to propel the regional PPO Market. Furthermore, improving economies of scale and rising plastic processing activities in the region is expected to drive market growth. Moreover, ease in availability of raw material, governmental support to end user industries, and favorable weather condition are some other factors driving the PPO market.

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Asia Pacific holds the largest market for Polyphenylene Oxide followed by North America and Europe. Europe is predicted to witness steady growth in the use of PPO due to rising R&D activities and innovations in medical business. European countries such as France, Russia, Poland, Italy, Germany, and U.K dominated the region in 2016 owing to growing investment in the fluid handling and automotive sector. In North America, the countries such as the U.S. and Canada are among the key contributors to the regional market growth on account of the increasing demand of air separation membranes. Furthermore, increasing awareness regarding the benefits associated with the product along with the continuous growth of medical industry is predicted to drive the demand for PPO in North America. In Latin America countries such as Mexico, Brazil, and Argentina are estimated to witness strong growth due to rising consumer expenditure on household appliances. The Middle East & Africa is expected to witness above average growth rate due to strong demand in end use industries on account of rapid industrialization & urbanization. Moreover, increasing per capita disposable income is giving rise to higher household appliances & passenger vehicle demand which in turn is estimated to drive the regional market growth.

Segmentation

The global polyphenylene oxide market is categorized on the basis of application, and regions. Based on application, PPO market is segmented into automotive & transportation, electrical & electronics, household appliances, medical, air separation membranes, fluid handling. Based on region, the market is classified into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Key Players

Key players operating in the polyphenylene oxide market are SABIC (Saudi Arabia), Asahi Kasei Corporation (Japan), OXFORD POLYMERS (U.S.), Mitsubishi Chemical Corporation (Japan), Polyplastics Co. Ltd (Japan), Evonik Industries AG (Germany), Kingfa Science & Technology (India) Limited (India), Sumitomo Chemical Co., Ltd. (Japan), LyondellBasell Industries Holdings B.V. (the Netherlands), BASF SE (Germany) among others.

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