The global polyphenylene oxide (PPO) market size is projected to reach USD 2.27 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.3% during the forecast period. Rising demand from end-user industries such as automotive and electronics & electrical.
Globally, surging demand for electronic products such as outlet boxes, smoke detectors, and lighting is poised to boost the growth of the PPO market. Improving living standards coupled with increasing per capita disposable income is estimated to positively impact the market over the forecast years. Burgeoning automotive manufacturing in Latin America and Asia Pacific is expected to stimulate the growth of the market.
Rising consumer awareness regarding new technologies in emerging economies is anticipated to fuel the demand for advanced electronic components. Increasing trade of electronic devices among countries is anticipated to unfold immense growth opportunities for market players.
Electronic components emerged as the leading application segment in the polyphenylene oxide market. Major products where electronic components are used are relay housings, pump housing/impellers, connectors, bobbins, circuit breakers, motor brush cards, coil encapsulation, fans and blowers, heat exchangers, thermostat housings, and large and small appliances.
Increasing PPO application in the electrical and electronics industry such as TV output transformer, air conditioning control boxes, deflection yoke and bobbins are slated to stoke the growth of the market. Asia Pacific is the leading regional market, with a global volume share estimated at over 50.0% in 2017. Favorable economic policies coupled with entry of global plastic manufacturers are supporting the growth of the market in Asia Pacific.
A well-established electrical & electronics manufacturing base in China, Taiwan, and South Korea coupled with a strong chemical manufacturing base in India is likely to trigger the adoption of polyphenylene oxide. China being the major market has witnessed tremendous growth in end-use industries.
Further key findings from the report suggest:
- In terms of revenue, the automotive application is expected to rise at a CAGR of 4.1% from 2018 to 2025 owing to growing automotive production in emerging economies
- The U.S. polyphenylene oxide market is anticipated to exceed 85 kilo tons by 2025, owing to presence of a large number of automotive companies and rapidly increasing shale gas operations
- The PPO market is moderately concentrated owing to presence of both large as well as small players
- Some of the key companies present in the market are BASF, SABIC, Mitsubishi Chemical Holdings Corp., Sumitomo Chemicals, Momentive Performance Materials, LyondellBasell, Polyplastics Co. Ltd., Asahi Kasei Chemicals Corp., and Solvay SA.
Grand View Research has segmented the global polyphenylene oxide market on the basis of application and region.
Polyphenylene Oxide Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Air Separation Membranes
- Medical Instruments
- Domestic Appliances
- Automotive (Structural Parts)
- Electronic Components
- Fluid Handling
Polyphenylene Oxide Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- North America
- US
- Canada
- Mexico
- Europe
- UK.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Korea
- Taiwan
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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