The global polyphenylene oxide (PPO) resin market was valued at US$ XX million in the year 2018 and is expected to reach US$ XX million by the year 2023, growing at a CAGR of XX% during the forecast period. In terms of volume the global polyphenylene oxide resins market was valued at XX KT in the year 2018 and is expected to reach XX KT by the year 2023, growing at a CAGR of XX%.
Polyphenylene oxide (PPO) resins are engineering plastics that have good resistance to high temperatures. It has a glass transition temperature of 210°C. Polyphenylene oxide also has good resistance to bases and acids, high mechanical strength, and good electrical properties and is therefore used in a wide range of end-user industries.
Most polymers are processed at high temperatures by bringing them to a liquid state. PPO being resistant to high temperatures cannot be easily processed, which is a major drawback of this material. However, PPO is available in forms blended with polyamide and high-impact polystyrene (HIPS) amongst others.
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The major factors driving the growth of the PPO resins market are the increasing use of polyphenylene oxide in various end-user industries such as electrical and electronics and automotive. The growth of the automotive industry in developing countries such as China, South Korea and India is expected to augment the growth of the PPO resins market.
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In 2018, SABIC Corporation announced its plans to restart production of PPE at the company’s Bergen op Zoom manufacturing plant in the Netherlands. Once production at this plant starts it is expected to add global capacity of 40% over the 2017 baseline. The recommissioning of this plant affirms the company’s commitment to the European market.
Geographically, Asia-Pacific dominates the market and is expected to grow at the highest rate during the forecast period. The booming automotive industry in this region is one of the major factors contributing to the growth of the PPO resins market in this region. Apart from this various polymer manufacturing companies are opening new plants or expanding capacity of the existing plants in order to cater to the increasing demand in this region. Furthermore, the rising disposable income has led to increased spending on electronics and consumer goods. This is also driving the growth of the PPO resins market in this region.
The notable players operating in the polyphenylene oxide resins market are SABIC (Saudi Arabia), Evonik Industries AG (Germany), Mitsubishi Chemical Corporation (Japan), Asahi Kasei Corporation (Japan), LyondellBasell (the Netherlands), Sumitomo Chemical Co., Ltd. (Japan), Oxford Polymers (US), and BASF SE (Germany) amongst others. Most of the players are increasing their production capacity in order to meet the market demand. Apart from this the companies are also using mergers and acquisitions as a strategy for gaining market share.
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