— Overview:
The Polyphenylene Oxide Market is gaining significant mileage as the increasing use of plastic in the automotive sector is steering the market ahead. This sturdy, and stiff material with high-melting-point and high glass transition temperature is winning accolades from several sectors. Transport and automotive sectors are among them and have proven them beneficial for the Polyphenylene Oxide Market. The Global Polyphenylene Oxide Market is about to witness robust growth during the forecast period (2016-2023) and achieve significant market valuation during the same time, reveals Market Research Future (MRFR) in an extensively studied report on the same market. The report further includes other market factors such as surging demand from air separation membrane sector, in healthcare, and in the fluid application sectors involving calves, pipes, pump impeller, and water sprinkler. Its features such as low water absorption, dimensional stability properties, excellent flame & electrical resistance, and ease of molding give it prominence in diverse industries.
However, governments have imposed strict regulations regarding the disposal and recycling of these products which can deter the expected Polyphenylene Oxide Market growth during the forecast period.
Segmentation:
The Global Polyphenylene Oxide Market can be segmented by Application.
Based on Application, the Polyphenylene Oxide Market can be segmented further into automotive & transportation, electrical & electronics, household appliances, medical, air separation membranes, fluid handling. Polyphenylene oxide improves the quality of end-products by providing additional features and strength. A surge in the use of electronic goods such as smartphone, tablet, laptop, and LCDs can be seen as well that has the prospect to improve the Polyphenylene Oxide Market.
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Regional Analysis:
Region-specific analysis of the Polyphenylene Oxide Market includes North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA).
The APAC market is the dominant sector and touted grow with the fastest CAGR during the forecast period to retain its market superiority. Automotive, transportation, & electronics sector are areas that are substantially boosting the regional Polyphenylene Oxide Market growth. Rising per capita income has also inspired a change in consumer behavior which has influenced market rationale. Countries such as China, South Korea, India, Japan, Vietnam, Bangladesh, and Malaysia are proving to be fertile industrial ground for the Polyphenylene Oxide Market as industry ambiance is quite favorable in these countries.
North America has the U.S. in the lead position with Canada in the second slot. The region is banking mainly on the healthcare sector that is providing the much-necessary thrust to the regional Polyphenylene Oxide Market. Europe is banking majorly on research and development taking place in countries such as Russia, France, Italy, Germany, and the U.K. The LATAM market and the MEA market are expected to witness steady growth owing to increasing expenditure for various types of vehicles and its integration in end-use industries.
Competitive Insights:
The Polyphenylene Oxide Market majorly banks on several market strategies that include merger, acquisition, collaboration, and other methods that help both the individual companies in surviving and market expansion in general.
SABIC and Clariant, recently in September 2018, announced that they are merging to improve their high-performance materials operations.
Asahi Kasei Corporation, in July 2018, bought Sage Automotive Interiors which would increase their polyphenylene oxide market dominance. This decision would increase the demand for polyphenylene oxide, and the production will see a surge from this step.
Some of the prominent players operating in the Polyphenylene Oxide Market are SABIC (Saudi Arabia), Asahi Kasei Corporation (Japan), OXFORD POLYMERS (U.S.), Mitsubishi Chemical Corporation (Japan), Polyplastics Co. Ltd (Japan), Evonik Industries AG (Germany), Kingfa Science & Technology (India) Limited (India), Sumitomo Chemical Co., Ltd. (Japan), LyondellBasell Industries Holdings B.V. (the Netherlands), BASF SE (Germany), and others.
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