Polyphenylene Oxide Market Strikes Gold with the Explosion of Latest Technologies

Pune, India, June 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Polyphenylene Oxide Market.

Market Scope

The Polyphenylene Oxide (PPO) Market is about to experience an arousing growth during the forecast period (2023 - 2032), attaining considerable revenues backed by a number of factors, says Market Research Future (MRFR) in a carefully analyzed report.

Growth Factors and Top Barriers

One of the prominent trends elevating the market position is the growth in the demand from industries including electronics and automotive. Am evolution in the worldwide polymer industry structure, involving the striking growth in the Asia Pacific along with consistent growth in North America as well as Europe, is projected to leave a highly positive impact on the market. Growing awareness with regard to advanced materials that enhance the end product features, in addition to providing strength, has augmented the demand for engineered polymers. At present, suppliers are working in conjunction with original equipment manufacturers as well as compounders for the development of new and innovative technologies. These factors are bound to bring in excellent business for the polyphenylene oxide market in the years ahead.

The rise in consumer spending on electronic devices such as LCDs, smartphones, laptops tablets is presumed to encourage the demand for PPO during the evaluation period. China has been established as the leader in the global space, on account of the surge in production facilities along with the increasing demand from end-use application industries. China observes mounting demand for mobile devices, due to which the Asia Pacific has become a promising destination for international vendors.

Apart from this, the growth in the demand for automotive components is slated to play a crucial role in raising the demand for PPO. On that note, the boost in the number of automotive manufacturing facilities in the developing markets of Central & South America, the Middle East & Africa, and the Asia Pacific is exhibited to support the growth of the global market. Also, the production facilities of automotive components moving to developing nations of Asia Pacific like India, Japan, and China on account of the low-cost manufacturing will stoke the product demand in the review period.

Market Segmentation

The worldwide polyphenylene oxide market has been segmented based on application.

The polyphenylene oxide market, depending on the application, has been segmented into fluid handling, automotive & transportation, medical, electrical & electronics, air separation membranes, and household appliances. The increased use of electronic goods like tablet, smartphone, LCDs, and laptop substantiates the growth of the electrical and electronics segment in the polyphenylene oxide market.

Leading Companies

The renowned companies competing in the worldwide polyphenylene oxide market include Mitsubishi Chemical Corporation (Japan), SABIC (Saudi Arabia), Polyplastics Co. Ltd (Japan), Asahi Kasei Corporation (Japan), BASF SE (Germany), Kingfa Science & Technology (India) Limited (India), Sumitomo Chemical Co. Ltd. (Japan), LyondellBasell Industries Holdings B.V. (the Netherlands), Evonik Industries AG (Germany), OXFORD POLYMERS (U.S.), and others.

Regional Insight

The analysis of the global polyphenylene oxide market has been done for the key regions of Europe, Asia Pacific (APAC), Latin America (LATAM), North America, and the Middle East & Africa (MEA).

The polyphenylene oxide market in the Asia Pacific is touted to be the most profitable among all the regions, backed by various government initiatives taking place for the development of the manufacturing sector. The strong support by the government comes in the form of subsidies, increase in FDI limit and tax cuts, which are luring prominent international players who are looking to expand their operations in the region. As per reports, in 2016, China had been the largest automotive market in the world, meanwhile, India is touted to be the largest two-wheeler market across the globe. In terms of electronics, India, and China both hold the biggest market for smartphones globally. The presence of a well-established automotive industry coupled with the increasing infrastructure investment is providing numerous growth opportunities to the regional market.

North America is known for its technologically advanced manufacturing base, which gives an excellent boost to the polyphenylene oxide market in the region. Along with this, high consumer awareness and an expansive end-user landscape add to the strength of the regional market, in terms of product demand. The United States (U.S.) is in the vanguard of the market growth, with strong leverage from factors like the rising consumption of polyphenylene oxide in automotive as well as industrial machinery applications.

The Europe market gains massive profits due to significant research and development in countries including France, Russia, Germany, the United Kingdom (U.K) and Italy.

The Middle East and Africa, along with Latin America, will be noting consistent growth owing to the growing expenditure for different types of vehicles and its rising use in numerous industries.

Recent Developments

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  July 2018: Asahi Kasei Corporation acquired Sage Automotive Interiors, with the aim of elevating their position in the polyphenylene oxide market. This move will help augment the demand for polyphenylene oxide, increasing the product production in the process.

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