The global polyphenylene oxide (PPO) market is in the ascendency in recent years as the demand for the polyphenylene oxide resins has risen at a rapid rate in various industries like the automotive industry.
Covid-19 Impact & Market Status
The pandemic has negatively affected almost all of the markets leading to huge losses and also hampered the supply chain thus creating worldwide market breakdown which made it very difficult for the all the industries to stay afloat especially the smaller ones. The polyphenylene oxide resin market has been drastically affected by the pandemic as the industrial activities have reduced and the demand has fallen considerably which has affected the revenue share in the market.
The global polyphenylene oxide (PPO) market rise is also expected to be aided by the increasing awareness among the people regarding the benefits of polyphenylene oxide resins and also the technological advancements being made in this field.
Automotive And Transportation Segment To Be In High Demand
The Automotive and Transportation segment is the major end user industry for polyphenylene oxide resins which is leading the global polyphenylene oxide (PPO) market in revenue share and is predicted to remain at the top of the market during the forecast years due to their increasing demand to be used in automotive parts that are subject to high temperature.
Asia-Pacific to Dominate the Market in 2022
Asia-Pacific will remain atop the polyphenylene oxide (PPO) market in revenue share and is predicted to remain at the top of the market during the forecast years due in large part to the rapidly expanding demand for PPO resins in end-use sectors in its major economies. The market in the region is also being driven by an increase in the use of PPO composites in consumer appliances.
North America will rise drastically in the forecast period because of the growing use of polyphenylene oxide for machining in the plastics industry, rising disposable income, and an expanding consumer products sector are fuelling the market expansion in the United States.
This material has extremely high acid and basic resistance. Polyphenylene oxide resins are non-dripping and self-extinguishing, and they have excellent load bearing, high stiffness, and dielectric properties. PPO is also resistant to steam and hot water and has a good tensile and impact strength. Its widespread application in the automotive and electronic industries can be attributed to its qualities. Due to its unique chemical makeup, PPO has a low moisture absorption rate.
The global polyphenylene oxide resins market is rising rapidly, and it is expected that it will grow from USD 1562.26 million in 2021 to about USD 2077.84 million by 2029 during the analysis period at a CAGR of 4.5 percent.
The global polyphenylene oxide (PPO) market is increasing due to quick improvements in vehicle manufacturing occurring in many regions of the world. A prominent trend anticipated to drive global polyphenylene oxide (PPO) market during the forecast period is the rise in PPO resin usage in electronics and electrical appliances, particularly in emerging nations.
The global polyphenylene oxide (PPO) market is also projected to benefit from an increase in sales of smart home equipment. Strong growth of the electrical industry is therefore anticipated to be the main factor driving the growth of the worldwide polyphenylene oxide (PPO) market due to rising investments in infrastructure development and expanding residential construction activities globally.
The cost of raw materials has been markedly fluctuating recently. This is impeding the global polyphenylene oxide (PPO) market. Nevertheless, over the past ten years, physical and chemical modifications have been developed to get around PPO resins' many drawbacks, including their difficult processing and resistance to organic solvents. PPO nanocomposites are now distinguished by superior performance in application domains increasing its market demand.
The global polyphenylene oxide (PPO) market is rising rapidly and there is healthy competition among the top players like Evonik Industries AG, Romira GmbH, RTP Company, Entec Polymers, Ensinger GmbH, Solvay S.A., TORAY, Momentive Performance Material, Polyplastics, Asahi Kasei Chemicals, Solvay, LyndollBasell Industries, Mitsubishi Chemical, Sumitomo Chemicals, BASF, and SABIC among others .
Latest Innovations in the Gobal Polyphenylene Oxide Resin Market: A Snapshot
- A novel plastic that will be used in EV batteries to stop the spread of fire through them was introduced in May 2022, according to LG Chem, a Korean chemical producer.
Polyphenylene Oxide Resin Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 2077.84 million|
|Growth Rate||CAGR of 4.5 % during 2021-2028|
|Segment Covered||Type, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Evonik Industries AG, Romira GmbH, RTP Company, Entec Polymers, Ensinger GmbH, Solvay S.A., TORAY, Momentive Performance Material, Polyplastics, Asahi Kasei Chemicals, Solvay, LyndollBasell Industries, Mitsubishi Chemical, Sumitomo Chemicals, BASF, and SABIC among others .|
Key Segments of the Polyphenylene Oxide Resin Market
Type Overview, 2019-2029 (USD Million)
- PPO Resin
End User Overview, 2019-2029 (USD Million)
- Electrical and Electronics
- Automotive and Transportation
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa