Polyphenylene Oxide: Rising demand in Automotive as well as Medical Industry will boost the global market growth

Pune, India, December 7, 2017, /MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on Global Polyphenylene Oxide Market

Polyphenylene Oxide Market Size was valued at USD 1.5 Billion in 2022. The Polyphenylene Oxide market industry is projected to grow from USD 1.57 Billion in 2023 to USD 2.30 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.90% during the forecast period (2023 - 2032). 

Polyphenylene Oxide (PPO) is a strong engineering plastic with outstanding thermal, electrical, and mechanical properties. It is commonly used in its blended form and mixed with either polystyrene, polyamide, or styrene-butadiene copolymer. Glass transition temperature of PPO is around 215°C. However, on demand basis, it can be adjusted by blending with polystyrene. Low moisture absorption and low thermal expansion make PPO one of the prominent dimensionally stable thermoplastic available. PPO is extensively used for electrical housing and structural components owing to its superior insulating properties, flame and thermal resistance over a wide range of service temperature. They are widely used in numerous applications such as electrical & electronics, household appliances, and automotive & transportation, fluid handling, air separation membranes, and medical.

Some of the important factors that positively influence the growth of the Polyphenylene Oxide Market are increasing per capita disposable income, improved living standards, and growing medical sector. Additionally, increasing usage of PPO in the manufacturing of household appliances along with continuous growth of electronics sector is expected to drive the market growth. Increasing investment in ongoing R&D projects along with the increasing demand for PPO plastics from numerous application is predicted to fuel the market growth. Furthermore, the growth of fluid handling system market is one of the major trends that is expected to contribute to the market growth in the upcoming years. However, availability of PVC alternatives to PPO is expected to hamper the growth of the market.

Competitive Analysis:

The major players operating in the PPO Market are SABIC (Saudi Arabia), Asahi Kasei Corporation (Japan), OXFORD POLYMERS (U.S.), Mitsubishi Chemical Corporation (Japan), Polyplastics Co. Ltd (Japan), Evonik Industries AG (Germany), Kingfa Science & Technology (India) Limited (India), Sumitomo Chemical Co., Ltd. (Japan), LyondellBasell Industries Holdings B.V. (the Netherlands), BASF SE (Germany) among others.

Market Segmentation:

Globally, Polyphenylene Oxide Market is spanned on the basis of application and region. On the basis of application, the market is segmented into automotive & transportation, electrical & electronics, household appliances, medical, air separation membranes, fluid handling. Among these, electrical & electronics segment has emerged as the leading application segment accounting for around 30% of total market share in 2016. The factor behind the growth of this segment is wide utilization of PPO in TV output transformer, air conditioning electric boxes, bobbins, and deflection yoke in the electrical sector. Automotive & Transportation industry holds the second largest application segment and is predicted to witness a healthy growth due to increasing demand for light weight passenger and commercial vehicles along with rising automotive production and sales. Moreover, increasing demand for domestic appliances such as computer accessories and printers is estimated to propel the market growth in the upcoming years.

Regional Analysis:

Asia Pacific is estimated to be the largest PPO market followed by North America and Europe on account of strong existence of many end use industries. European market is expected to register moderate growth due to presence of major automotive manufacturers in Italy, Spain, and Germany. Asia Pacific PPO market is predicted to register tremendous growth due to continuous expansion of electrical & electronics, automotive & transportation, and medical sector specifically in India, China, South Korea, Taiwan, Japan, and Malaysia. Latin American countries is predicted to witness moderate growth on account of growing purchasing power of consumer along with increasing spending on domestic appliances products. The Middle East & Africa is expected to witness steady growth due to rising foreign investments and strong demand from medical and automotive sector.

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