The rising demand for propylene oxide in the Asia Pacific area, particularly in China and India, is one of the main development factors for the market for the substance. The demand for propylene oxide is anticipated to increase as construction activity increases and the automobile industry expands in these nations.
During the forecast period of 2023–2030, the global Propylene Oxide Market is predicted to exhibit an unexpected CAGR and reach a multimillion-dollar valuation.
Leading Companies in the Propylene Oxide Industry:
1. SK Chemicals: Established in 1969. Head office in South Korea. Manufacturing chemical goods is the major business of SK Chemicals Co Ltd in Korea. Copolyester, 3D printing materials, coatings, adhesives, engineering plastic, and biomaterial are just a few of the company's green chemicals. The corporation also engages in the life science sector, which includes the sale of prescription drugs, vaccines, and over-the-counter medicines. An agreement for the purchase of recycling assets from Shuye Chemicals in China was announced by SK Chemicals in South Korea.
2. The Dow Chemicals Royal Dutch Shell: Built in 1897. United States headquarters. A global producer of diverse chemicals, Dow Chemical was created in 2019 as a result of the merger of DowDuPont and succeeding divisions. The company is a major manufacturer of a number of chemicals, such as silicone rubber, ethylene oxide, and polyethylene. Numerous end markets, including the consumer and industrial ones, can use its products. Dow and Shell demonstrate advancements in their combined research and development of CO2 crackers.
3.Tokuyama Corporation, Co., Ltd.: Built in 1918. Head office in Japan. Chemicals, speciality goods, cement, and functional materials are the major products that Tokuyama Corp. produces and distributes. It has a number of business divisions, including the Chemicals division, which sells soda ash, caustic soda, calcium chloride, silicate soda, propylene oxide, and methylene chloride; the Specialty Products division, which sells multicrystalline silicon, wet silica, metal cleaning chemicals, environmental equipment, and other things; the Cement division, which sells portland cement, ready-mixed concrete, and cementitious solidified materials; and the Life Amenity Japan serves as the group's geographic hub for activities.
4. BASF S.E.: The largest chemical firm in the world, BASF was established in 1865 and is headquartered in Germany. Its products range from commonplace to specialise. The business also manufactures agricultural crop protection chemicals and automobile emissions control catalysts. Given its scale, BASF holds a position in the top three of the market in almost 70% of its companies. Vattenfall sells its 49.5% stake in the offshore wind farm Hollandse Kust Zuid to BASF.
5. Huntsman International LLC: Built in 1970. Headquarters are in the United States. A US-based producer of unique organic chemical compounds is Huntsman Corp. Methyl diphenyl diisocyanate (MDI), Amines, Maleic anhydride, and formulations for epoxy-based polymers are included in its product line. The company's goods are utilised, among other things, in adhesives, aerospace, automobiles, and building materials. Polyurethanes, Performance Products, and Advanced Materials make up its operating segments. The Polyurethanes division, which comprises MDI, polyols, TPU (thermoplastic polyurethane), and other goods linked to polyurethane, accounts for the majority of its revenue. The United States and Canada, Europe, Asia-Pacific, and the Rest of the World are its geographical segments. Huntsman completes the purchase of Gabriel Performance Products, enhancing its portfolio of specialty chemicals.
6. AGC Chemicals: Built in 1907. Headquarters in Japan. Based on the kind of product, Automotive glass and Float glass are the two categories in which AGC Inc. manufactures and markets glass and goods linked to glass. The main automotive glass provider in India is the automotive glass segment, which accounts for the majority of revenue. The architectural, interior design, and construction industries are served by the Float glass segment's production and distribution of glass products. The industry sector also manufactures solar glass, which is used to generate solar power. India accounts for almost all of the company's revenue. AGC will increase its Spanish synthetic pharmaceutical manufacturing facility.
7. CSPC Pharmaceutical Group Limited: Established in 1992. Headquarters in China.One of the biggest pharmaceutical companies in China is CSPC Pharmaceutical Group, or CSPC. The company's medicine portfolio is diverse and includes brand-name, generic, and bulk products. Cardio-cerebrovascular diseases, digestive and metabolic disorders, cancer, neurology, and anti-infectives are the main topics of its R&D pipeline. For around 252.9 million yuan, CSPC Pharmaceutical Group Ltd. has agreed to purchase Yong Shun Technology Development Ltd. of Hong Kong.
Definition: Propylene oxide is an acutely toxic and carcinogenic organic compound with the molecular formula CH3CHCH2O. Propylene oxide is used in the production of polyethers and propylene glycol.
