The Global polyphenylene oxide (PPO) market is expected to reach USD 1.98 billion by 2022, according to a new study by Grand View Research, Inc. Growth of global electronics industry is expected to remain a key driving factor for PPO market growth over the next seven years. PPO alloyed with nylon or high impact polystyrene (HIPS) to produce economical blends commercially known as modified polyphenylene oxide or modified-polyphenylene ether (m-PPO/m-PPE). Increasing demand from automotive industry for structural appliances coupled with growth in domestic appliances industry is also expected to positively impact the global market. Volatile raw material prices are expected to pose challenges for industry participants over the forecast period.
Electronic components emerged as the leading application segment and accounted for 31.6% of total market volume in 2014. Electronic components such as bobbins, deflection yoke and TV output transformer are expected to witness an increase in PPO consumption owing to properties such as excellent insulation and low moisture absorption. Domestic appliances are projected to grow steadily at an estimated CAGR of 4.1% from 2015 to 2022.
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Further key findings from the study suggest:
- Global PPO market demand was 475.9 kilo tons in 2014 and is expected to reach 621.9 kilo tons by 2022, growing at a CAGR of 3.4% from 2015 to 2022.
- Asia Pacific emerged as the largest regional PPO market and accounted for 52.4% of the total demand in 2014. Countries in such as China, India, Taiwan and South Korea are expected to witness an increase in consumer electronics demand owing to rise in per-capita middle class disposable income. Shift in automotive manufacturing base in emerging regions of Asia Pacific such as Thailand and Indonesia is also expected to drive the regional PPO market.
- North America is expected to grow at a moderate CAGR of 2.5% from 2015 to 2022. Growing engineering plastics demand from automotive industry in order to reduce the overall weight of automobiles is expected to drive this region.
- Global PPO market is moderately consolidated with presence of large scale companies. Some of the major companies operating in the global PPO market include SABIC, BASF, Solvay S.A. and LyondellBasell Industries N.V. Other industry participants include Sumitomo Chemicals Co. Ltd., Asahi Kasei Chemicals Corp., Mitsubishi Chemicals Holdings Corp., Polyplastics Co. Ltd. and Momentive Performance Material (MPM) Holdings LLC.
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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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