New York City, NY -- (SBWIRE) -- 02/22/2023 -- STRONG GLOBAL DEMAND FOR POLYURETHANE PLASTICS TO CONTRIBUTE TO GLOBAL MARKET GROWTH
According to an analysis by DataM Intelligence, global polyurethane demand is forecasted to reach 36.12 million metric tonnes by 2025.
The global usage of polyurethane plastics is increasing due to rising demand in the construction, automotive and consumer goods industries. In the post-pandemic period, these industries have made a significant recovery. The increasing demand for polyurethane plastics is a key driver for the growth of the global propylene oxide market.

THE VOLATILITY IN RAW MATERIAL PRICES PRESENTS CHALLENGES TO MARKET GROWTH
One of the major challenges for the global market has been the volatility in the prices of raw materials, particularly crude oil. Propene, the precursor of propylene oxide, is obtained as a by-product during petroleum refining. Global crude oil prices fluctuate widely depending on global geopolitical and economic scenarios. For most of 2022, oil prices have averaged around US$ 100 per barrel, increasing in the first half of the year and declining in the second half. The volatility in raw material prices creates major uncertainty among producers due to varying input costs. It affects production and translates to higher costs for end-users.

View the complete study here@ https://www.datamintelligence.com/research-report/propylene-oxide-market

POLYETHER POLYOLS AND PROPYLENE GLYCOL PRODUCTION ARE KEY TO MARKET GROWTH
The major application of propylene oxide is for manufacturing chemical intermediates. Manufacturers are increasing the production of polyether polyols in response to growing demand. In April 2022, Longhua New Materials, a Chinese polyether polyol manufacturer, announced plans to invest US$ 1.1 billion in a new production facility with an estimated annual capacity of 160,000 tonnes. Propylene glycol production is also witnessing a gradual upswing. In November 2021, Orlen Group announced the commencement of propylene glycol production at its plant in Trzebinia, Poland.

CHINA AND INDIA ARE KEY COUNTRIES IN SHAPING THE GLOBAL MARKET DEMAND
China and India are expected to drive the global market due to the expansion of their domestic industries. China has a major construction industry which generated RMB 8.014 trillion (US$ 1.19 trillion) in value in 2021, according to ING Bank N.V. India is another emerging country that will propel global demand. India companies are expanding the production of chemical intermediates which is expected to increase demand. In October 2022, Manali Petrochemicals received environmental clearance to expand its propylene glycol production capacity from 22,000 metric tonnes to 70,000 metric tonnes.

LYNDONBASELL AND SINOPEC CAPACITY EXPANSION TO PROPEL GROWTH
The major players in the global market are expanding production capacity to cater to growing global demand. In July 2022, LyndonBasell commenced the expansion of its propylene oxide plant in Channelview, Texas, U.S., with production commencing in early 2023. In January 2022, LyndonBasell and Sinopec entered into an agreement to manufacture propylene oxide for the Chinese market.

GLOBAL PROPYLENE OXIDE MARKET REPORT SCOPE

1. By Production Process
a. Chlorohydrin Process
b. Styrene Monomer Process
c. TBA Co-product Process
d. Cumene Process
e. Hydrogen Peroxide Process
2. By Application
a. Polyether Polyols
b. Propylene Glycol
c. Glycol Ethers
d. Others
3. By End-User
a. Automotive & Transportation
b. Building & Construction
c. Textile & Furnishing
d. Chemical & Pharmaceuticals
e. Packaging
f. Electronics
g. Others
4. By Region
a. North America
i. The U.S.
ii. Canada
iii. Mexico
b. Europe
i. Germany
ii. UK
iii. France
iv. Italy
v. Spain
vi. Rest of Europe
c. South America
i. Brazil
ii. Argentina
iii. Rest of South America
d. Asia-Pacific
i. China
ii. India
iii. Japan
iv. South Korea
v. Rest of Asia-Pacific
e. Middle East and Africa

For Free Sample on Global Propylene Oxide Market, Visit Here: www.datamintelligence.com/download-sample/propylene-oxide-market