Propylene Oxide Market worth $29.5 billion by 2026 - Exclusive Report by MarketsandMarkets Propylene Oxide Market by Application (Polyether Polyols, Propylene Glycols),Production Process (Chlorohydrin, Styrene Monomer, Cumene Based), End-Use Industry (Automotive, Building & Construction), and Geography - Global Forecast to 2026 , published by MarketsandMarkets, the Propylene Oxide Market is projected to grow from USD 22.5 billion in 2021 to USD 29.5 billion by 2026, at a CAGR of 5.6% from 2021 to 2026.
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The propylene oxide market is majorly driven by the rising demand for polyurethanes in various end-use industries, such as automotive, building & construction, textile & furnishing, chemical & pharmaceutical, packaging, and electronics. The increa
The propylene oxide market is majorly driven by the rising demand for polyurethanes in various end-use industries, such as automotive, building & construction, textile & furnishing, chemical & pharmaceutical, packaging, and electronics. The increasing usage of polyurethane is in thermal insulators, sealants, and flooring materials is also expected to propel market growth in the near future.
The automotive industry accounted for the largest share in the propylene oxide market.
Based on end-use industries, the automotive industry accounted for the largest share in the propylene oxide market. In 2020, nearly 77.0 million units of vehicles were produced across the globe. This resulted in high demand for polyurethane foams, ultimately creating an increased demand for propylene oxide across the globe. Building & construction, chemical & pharmaceutical, are other leading application to the adoption of propylene oxide market.