Grand View Research’s report says the global polyphenylene oxide (PPO) market size is projected to reach $2.27 billion by 2025, expanding at a CAGR of 5.3% during the forecast period. Rising demand from end-user industries such as automotive and electronics & electrical is responsible for potential growth.
- Surging demand for electronic products such as outlet boxes, smoke detectors, and lighting is poised to boost the growth of the PPO market.
- Electronic components emerged as the leading application segment in the polyphenylene oxide market.
- Increasing PPO application in the electrical and electronics industry such as TV output transformer, air conditioning control boxes, deflection yoke and bobbins are slated to stoke the growth of the market.
- A well-established electrical & electronics manufacturing base in China, Taiwan, and South Korea coupled with a strong chemical manufacturing base in India is likely to trigger the adoption of polyphenylene oxide.
- In terms of revenue, the automotive application is expected to rise at a CAGR of 4.1% from 2018 to 2025 owing to growing automotive production in emerging economies
- The U.S. polyphenylene oxide market is anticipated to exceed 85 kilo tons by 2025, owing to presence of many automotive companies and rapidly increasing shale gas operations
- The PPO market is moderately concentrated owing to presence of both large as well as small players
- Some of the key companies present in the market are BASF, SABIC, Mitsubishi Chemical Holdings Corp., Sumitomo Chemicals, Momentive Performance Materials, LyondellBasell, Polyplastics Co. Ltd., Asahi Kasei Chemicals Corp., and Solvay SA.
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Grand View Research, Inc.