Technavio's latest market research report on the global polyphenylene oxide marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technaviodefines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global polyphenylene oxide market from 2017-2021. (Graphic: Business Wire)
The accelerating demand for electronic components globally is propelling the growth of polyphenylene oxide market. Polyphenylene oxide in electronics is used for the printing of ultra-thin high-efficiency products that have long shelf lives and reduces the overall weight of electronic components.
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The top three emerging market trends driving the global polyphenylene oxide market according to Technavio research analysts are:
- Demand for engineered plastics from automotive sector
- Expanding fluid handling system market
- High growth in APAC
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Demand for engineered plastics from automotive sector
The growth and expansion of the automotive industry are boosting the demand for engineered plastic, which in turn, will have a positive impact on the polyphenylene oxide market. Owing to the growth of the lightweight vehicles segment, various metal components are being replaced by these engineered plastics as they possess properties similar to that of metal components. In the automotive sector, the demand for lightweight vehicles is booming, especially in APAC and Europe. A number of opportunities that are expected to rise in manufacturing automobiles, domestic appliances, and electronic products will positively influence the demand for engineered plastics.
According to Kurva Samba Sivudu, a lead analyst at Technavio for specialty chemicals "Among all engineered plastics, high-performance plastics like polyphenylene oxide is expected to encounter the maximum demand during the forecast period. Other factors that can lead to the expansion of lightweight vehicles, which will eventually accelerate the demand for polyphenylene oxide, are rapid urbanization and the reasonable increase in income levels."
Expanding fluid handling system market
The products and systems that are used in various industrial applications, especially where engineered solutions are in use comprise of fluid handling systems. These systems have many applications such as measuring and controlling of direct fluids. Various parts of fluid handling systems where engineered plastics are used include flow meters, pump skids, pumps, valves, meter systems, fire pump systems, and fire pumps. The global fluid handling systems market is expected to pace up in the coming years due to continuous R&D activities in the sector, which will result in cost-effectiveness and will improve the productivity.
"The growing need for cost effectiveness and improvement in productivity of fluid handling systems will have a positive impact on the global polyphenylene oxide market. The expansion of oil and gas industry and the installation of new pipelines will boost the demand for fluid handling systems and polyphenylene oxide," says Kurva
High growth in APAC
The increase in the disposable income and growth in the Asian economy will boost the demand for polyphenylene oxide in APAC. The polyphenylene oxide market is expected to be driven by the growing demand from the region and the increase in the disposable income of its residents. Along with this, technological developments in this region is also high, which is encouraging manufacturers to set up more units in the region. With the presence of leading automotive manufacturers in countries like China, Japan, South Korea, and India, the demand for polyphenylene oxide is expected to grow at a good pace in APAC.
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