Synopsis of Polyphenylene Oxide (PPO) Market:
Polyphenylene Oxide (PPO) is classified as a tough, stiff material with high melting point and high glass-transition temperature. At elevated temperatures Polyphenylene Oxide maintains its good load bearing characteristics and provides dimensional stability. Moreover, it possess superior dielectric properties and can be rated as self-extinguishing and non-dripping material. It can be molded by various processes such as extrusion & extrusion blow molding, injection, thermoforming, and foaming. They provide properties between common thermoplastic polymers and higher engineering types. PPO exhibit exceptional properties such as superior moisture resistance, high thermal and dimensional stabilities, excellent flame & electrical resistance which make them suitable for wide range of applications such as medical, fluid handling, air separation membranes, electrical & electronics, household appliances, and automotive & transportation.
As per our Analysis, some of the important market factors and trends identified in the Global Polyphenylene Oxide Market include technological advancement, constant urbanization, and continuous growth of air separation membrane sector. Additionally, rising use of Polyphenylene Oxide in the production of plastics coupled with the growing demand from automotive & transportation sector is predicted to propel the growth of the market during the assessment period, (2016 to 2023). Increasing awareness regarding the benefits associated with the PPO based product along with continuous expansion of medical sector across the globe is estimated to fuel the market growth. Increasing middle class population along with rising domestic appliances demand in the emerging economies is predicted to drive the market in the upcoming years. Moreover, in recent years PPO usage in the fluid application including calves, pipes, pump impeller, and water sprinkler has increased owing to its low water absorption and dimensional stability properties. With the aforementioned reason market is expected to drive with healthy CAGR during the review period. However, strict regulations regarding the disposal and recycling of these products is anticipated to hinder the market growth.
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Some of the prominent players operating in the Polyphenylene Oxide 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.
The Global Polyphenylene Oxide Market is classified on the basis of Application and Regions. On the basis of Application, PPO Market is classified into automotive & transportation, electrical & electronics, household appliances, medical, air separation membranes, fluid handling. On the basis of Region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Geographically, Polyphenylene Oxide Market is segmented into five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Asia Pacific region emerged as the dominant region and is predicted to grow with the fastest CAGR over the forecast period, (2016 to 2023) on account of expansion of various end use application such as automotive & transportation and electrical & electronics among others. The demand for PPO is estimated to surge in the developing countries of Asia Pacific such as China, South Korea, India, Japan, Vietnam, Bangladesh, and Malaysia due to continuous expansion of automotive sector as well as increasing automotive production and sales. Furthermore, rising per capita disposable income coupled with increasing household appliances sales is expected to propel the regional growth. Additionally, ease of availability of inexpensive raw material, cheap labor & land cost, and increasing development strategies to fulfil the demand for PPO in the growing applications are the prominent factors for the regional market growth.
Asia Pacific market is followed by North America and Europe. North America is estimated to witness a moderate growth in PPO market on account of recovery of industrial sector combined with escalating investments to revitalize electrical & electronics sector. In North America, the U.S. is followed by Canada in the regional market growth and both countries are estimated to see a significant growth due to continuous expansion of the demand for medical and air separation membranes. European countries such as Russia, France, Italy, Germany, and U.K have emerged as prominent consumer markets on account of developed end use industries and huge expenditure on Research & Development as well as innovation. Latin American countries such as Mexico, Brazil, Colombia, Peru, and Argentina are also estimated to witness an average growth due to rising expenditure on passenger cars and commercial vehicles. The Middle East & Africa regional market is predicted to witness a steady growth during the assessment period on account of high adoption rate in various application and is expected to positively influence industry growth during the review period.
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