Industry Outlook
Polyphenylene ether (PPE) also known as polyphenylene oxide (PPO) is a thermoplastic, non-crystalline, linear polyether, which is considered one of the most important engineering thermoplastics due to its high heat distortion temperature, superb resistance to chemicals and high strength. Further, PPO resins find wide usage in several end-use industries such as automotive, electrical & electronics, machinery, appliances and consumer goods industries among others, on account of its low moisture absorption rate, heightened resistance to flames, high mechanical property, and superior dimension stability. PPO resins find major usage in technical parts owing to its fair performance/price ratio for electrical and mechanical properties, low moisture intake, and superior dimensional stability among others. However, few of its drawbacks include high sensitivity to fire and other common chemicals such as concentrated mineral acids, hydrocarbons and chlorinated solvents, and limited number of producers among others.
Rising demand for automotive components fuelling market growth for polyphenylene oxide (PPO) resins
Automotive industry is one of the major end-users for polyphenylene oxide (PPO) resins. PPO resins are majorly used for manufacturing automotive grills, instrument panels, steering columns, radiator tanks, bulb sockets, outer mirror housings, wheel covers and automotive fascia among others. According to the Automotive Component Manufacturers Association of India (ACMA), the automotive components industry in India was valued at US$ 43.5 Bn during the period of 2016-2017, maintaining an average growth of 7%.
Asia Pacific dominated the global polyphenylene oxide resins market in 2017
In 2017, Asia Pacific dominated the global polyphenylene oxide resins market. The region also exhibited fastest growth during the forecast period. This is mainly due to growth in the telecommunication industry over the years. Increasing penetration of digitalization in the Asia Pacific region results to the increasing demand of the electronic appliances, which includes smart phones, TVs, smart home appliances, security systems among others. In 2017 home appliances and consumer goods in Asia Pacific recorded a 5% overall growth rate which is more compared to the growth rate of the developed regions such as U.S, Canada, European countries such as Germany, U.K., France among others which registered a growth rate of 2-3% from the years 2015 to 2017.
Fluctuations in raw material prices impacting the profitability of manufacturers
Fluctuations in crude oil prices results in the increase or decrease in the profitability margin of resins manufacturers. The “futures contract” that is set between the buyer and sellers allows the buyer to buy resins at a set price in the future as well, which sets an uncertainty in the profitability margin of the resins manufacturers due to fluctuations in oil prices. This is a major factor restraining growth of the polyphenylene oxide (PPO) resins market at present. 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.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Polyphenylene Oxide (PPO) Resins market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE | DETAILS |
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Research Period | 2022-2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Year | 2022 |
Unit | USD Million |
Segmentation | |
End-use Industry
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report