Polyphenylene Oxide (PPO) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Polyphenylene Oxide (PPO) Market: Snapshot
The global PPO market is prognosticated to gather pace in its growth with the rise of certain factors such as urbanization and technological advancement. Swelling demand in the transportation sector could be a powerful factor pushing the growth of the global PPO market. Increasing application in the manufacture of plastics is foreseen to set the tone for valuable growth of the global PPO market. Continuous expansion of the medical sector could also encourage growth in the global PPO market. Improving awareness about the benefits of using PPO in various application is expected to create rewarding business prospects in the global market.
Emerging nations are witnessing an increase in the growth of the middle-income population, which is anticipated to bode well for the global PPO market due to the swelling demand for domestic appliances. With rising awareness about its dimensional stability and low water absorption properties, PPO is being largely used in fluid applications such as water sprinkler, pump impeller, pipes, and calves. The automotive sector exhibiting a massive increase in manufacturing activities is foretold to help the demand for PPO to surge in Asia Pacific countries such as India, South Korea, and China. Increasing sales of household appliances in these countries could also augment the demand in the PPO market.
Rise in the number of developmental strategies, availability of affordable land and labor costs, and inexpensiveness of raw materials could be other factors helping the demand in the Asia Pacific PPO market to soar in the near future. Strong investments for the development of the electrical and electronics sector and impressive recovery of the industrial sector are predicted to work in the favor of the PPO market in North America. On the other hand, increased spending on commercial and passenger vehicles could augur well for the PPO market in Latin America.
Global Polyphenylene Oxide (PPO) Market: Overview
The global PPO market is anticipated to expand its growth on the back of the swelling demand in electronics and automotive industries. Since PPO belongs to the group of engineered polymers, rising demand for such polymers could bolster the growth of the market. Increasing awareness about advanced materials that not only provide strength but also enhance end-product features is foreseen to raise the level of demand in the market. The demand for PPO could also be fueled due to rising consumer spending on laptops, tablets, LCDs, smartphones, and other electronic devices.
The global PPO market could gain a whole lot of demand because of the rise of the automotive industry. Automotive components are in high demand these days. This is expected to bode well for the market.
Global Polyphenylene Oxide (PPO) Market: Trends and Opportunities
PPO is used in a variety of automotive components such as electrical connectors, mirror cases, speaker grilles, fuse boxes, wheel covers, headlights, internal trim, and automotive instrument panels. Owing to the decrease in oil prices, the polymers market has been witnessing the rise of high profit margins in the recent years. Companies may switch to less expensive feedstock to reduce the cost of raw materials in order to improve their profit margins. With a view to develop new PPO applications and technologies, compounders and OEMs could work alongside suppliers in the market.
PPO also finds application in air separation membranes used for generating nitrogen. The fertilizer industry increasing the demand for nitrogen and high yields are foretold to increase the adoption of air separation membranes in the coming years. Air separation membranes are observed to perform better in low temperature applications because of the use of PPO.
Global Polyphenylene Oxide (PPO) Market: Market Potential
Vendors operating in the global PPO market are envisaged to enter into agreements and offer innovative technologies to make their presence known. For instance, LyondellBasell Industries N.V. signed an agreement with the Karlsruhe Institute of Technology in July 2018 to help with plastic waste recycling and circular economy needs and advance the chemical recycling of plastic materials. In February 2018, it announced about a new impact-enhanced PP grade Moplen HE745T for packaging and houseware applications. In July 2018, Qingdao Jinneng New Material Co., Ltd. finalized the company’s fifth generation Spheripol technology to construct a 450KTA unit in their Qingdao City petrochemical complex.
Global Polyphenylene Oxide (PPO) Market: Regional Analysis
Asia Pacific is envisioned to emerge as a solid platform for players to expand their operations in the global PPO market. Increase in FDI limit, tax cuts, subsidies, and various other government initiatives taken to develop the manufacturing industry are projected to help the region to show rapid growth in the market. China and India could be among blockbuster economies of the region considering the aggressive expansion of the automotive and electronic devices industries. Such expansion could also be seen in North America which is attracting global investors due to the economic growth, vertical markets, and rapid development of the industries.
Global Polyphenylene Oxide (PPO) Market: Companies Mentioned
The global PPO market marks the presence of top players such as LyondellBasell Industries N.V., Mitsubishi Chemical Holdings Corp., Sumitomo Chemicals, BASF, and SABIC. There could be low potential threat from counter products but a moderate one from new industry participants.
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