According to the latest report published by Credence Research, Inc. “Global Polyphenylene oxide (PPO) resins Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global polyphenylene oxide (PPO) resins market accounted for US$ 1,298.26 Mn in 2017 and expected to reach US$ 1,879.84 Mn by 2026, expanding at a CAGR of 4.3% from 2018 to 2026.
In term of value, the polyphenylene oxide (PPO) resins Market was valued at US$ 1,298.26 Mn in 2017 and the same is anticipated to reach US$ 1,879.84 Mn by 2026, expanding at a CAGR of 4.3% during the forecast period. Further, in terms of volume, the polyphenylene oxide (PPO) resins market accounted for more than 500 Thousand Tons in 2017.
Polyphenyle oxide (PPO) resins is a tough and stiff material, which has a high melting point and a high glass transition temperature, exhibiting high resistance to heat. The material also has a high resistance to acids and bases. PPO resins exhibit favorable load bearing characteristics, dimensional stability, and dielectric properties and can be rated as non-dripping and self-extinguishing. However, PPO resins seldom used in its purest form owing to several difficulties that it faces while processing, because of which commercial grade PPO resins are blended with polyamides, high impact styrene-butadiene co-polymer or polystyrene.
Rising demand for PPO resins in the automotive & transportation and electrical & electronics industry are key factors driving demand for the market at present. Sale of passenger vehicles expected to cross 80 million mark by the end of 2018. China and the U.S. considered as major markets for the same. The U.S. witnessed sale of more than 7 million passenger cars in 2016. China is the world leader for aftermarket automotive components. China imported automotive components worth US$ 33 billion in 2015, while its exports accounted for more than US$ 8 billion in the same year. China is a major market for automotive and electrical components, responsible for the production of low cost automotive and electrical parts. In the same year, mechanical & electrical parts accounte for the major chunk of the automotive component market in China, contributing to more than 85% of the revenue.
Volatility in crude oil prices has a major impact in the prices of resins including PPO resins, which is a key factor restraining growth of the market. However, rapid growth of the convenience food industry in the developing economies such as Asia Pacific and Latin America expected to propel the growth of the packaging industry in those regions, which in turn expected to fuel market growth of PPO resins in the packaging industry in those regions. Asia Pacific dominated the global polyphenylene oxide (PPO) resins market in 2017 and expected to retain market dominance throughout the forecast period; the growth of which mainly spearheaded by China and India.
Browse the full report Global Polyphenylene Oxide (PPO) resins Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/polyphenylene-oxide-ppo-resins-market
Asahi Kasei Chemicals Corporation, Saudi Basic Industries Corporation (SABIC), Romira GmbH, Entec Polymers, LLC, Evonik Industries AG, Mitsubishi Chemical Corporation., RTP Company, Inc., Solvay S.A., Ensinger GmbH, China National Bluestar (Group) Co, Ltd among others are some of the prominent players in global polyphenylene oxide (PPO) resins market.