PPO or polyphenylene oxide is a high-performance polymer that has excellent electrical, chemical, and mechanical properties like resistance to high temperatures, high glass transition temperature, resistance to acids and bases, high mechanical strength, low moisture absorption, electrical insulation, and dimensional stability.
PPO resin is a tough material with high melting point. However, its resistance to high temperatures also makes it difficult to be processed. This is the reason why PPO resin is rarely used in its pure form, but is often blended with polyamides, high impact styrene-butadiene co-polymer, or high-impact polystyrene (HIPS).
PPO resins are mainly used in the automotive & transportation, electrical & electronics, and consumer goods industries. The global PPO resins market is expected to reach USD 1,879.84 million by 2026, from USD 1,298.26 million in 2017. The market is anticipated to grow at a CAGR of 4.3% during 2018 to 2026.
The growth of the polyphenylene oxide market will be propelled by its increasing usage in various end-user industries, especially in the automotive and consumer goods segments. In the automotive industry, PPO resins are used for making instrument panels, bulb sockets, seat backs, outer mirror housings, grills, body panels, spoilers, steering columns, etc.
The automotive sector is growing rapidly in developing countries and this will give a major boost to the global PPO market. Further, the proliferation of electronic devices like smartphones, laptops, tablets, etc., and increasing expenditures on them will also augment the market growth. However, volatility in crude oil prices can have an adverse effect on the PPO resins market.
However, the rapid growth of the convenience food industry in the Asia-Pacific and Latin America is expected to drive the growth of the packaging industry, which in turn, will affect the PPO resins market positively. The Asia-Pacific region dominated the market in 2017 and is likely to maintain its position in the coming years as well.
China and India are going to lead the Asia-Pacific market, mainly due to the rapid growth of the automotive and electrical & electronics industry. China is an important market for automotive and electrical components. The Indian auto components industry is also growing at an impressive rate and it reported a turnover of USD 51.2 billion in 2018.
Apart from these, more and more chemical manufacturers are establishing polymer manufacturing plants in the Asia-Pacific region, which will also propel the PPO resins market. The major global players operating in the PPO resins market are, SABIC, Romira GmbH, Mitsubishi Chemical Corporation, Evonik Industries AG, Asahi Kasei Corporation, LyondellBasell, BASF SE, Sumitomo Chemicals Co., Ltd., China National Bluestar (Group) Co., Ltd., Ensinger GmbH, and Oxford Polymers.