Propylene Oxide market to grow at 5.79% CAGR, reaching USD 40.5 billion by 2032

From GlobeNewswire: 2025-01-16 08:00:00

The Propylene Oxide Market is projected to reach USD 34.75 billion by 2032, growing at a CAGR of 5.79%. Its versatile applications in healthcare, cosmetics, automotive, and food industries are major market drivers. Key players like Dow Inc., LyondellBasell, and BASF are strategically expanding to meet rising demand and enhance production efficiency. The automotive sector led the market in 2023, with a 30.6% share, driven by the demand for Propylene Oxide-based materials in lightweight, fuel-efficient vehicles. Opportunities lie in the growing demand for sustainable and biodegradable materials, especially in the healthcare industry. In 2023, the Asia-Pacific region dominated the market, with China and India’s strong industrial activities propelling growth. The Propylene Oxide Market in Asia-Pacific, led by India’s industrial growth, sees increased demand in pharmaceuticals and automotive sectors. Southeast Asia, Japan, and South Korea also contribute, with propylene oxide crucial for coatings and foams in chemical manufacturing.

Propylene Oxide’s use in automotive, construction, healthcare, and food industries drives market growth. China and India lead in the Asia-Pacific region, with key players like BASF and Dow Chemicals expanding production. The market is fueled by polyurethane production, sustainable products, and biomedical applications.

Recent developments include Dow and Evonik’s pilot plant for propylene glycol production and BASF’s capacity expansion for ethylene oxide derivatives. These investments align with a focus on sustainable technologies and customer-driven strategies, boosting production in key markets.



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