Polyphenylene Oxide Resins Market Outlook, Opportunity and Demand Analysis Report by 2031

PPO resins have received substantial industry attention owing to the rising demand or high-end engineering thermoplastics among industry verticals. PPO is utilized in a broad range of applications owing to its unique combination of properties such as excellent mechanical property, low moisture absorption, strong dimension stability, and electrical insulation.
Physical and chemical modifications have been introduced over the past decade to overcome the various limitations of PPO resins, especially due to their poor processing and resistance to organic solvents. This has led to PPO nanocomposites being characterized by better performance in application areas. Modified PPO resins allow the benefits of molding through a range of processes such as extrusion, injection molding, and blow molding.
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Key Drivers and Restraints of Global PPO Resins Market
• Rise in demand or PPO resins in the automotive industry is a key factor driving the global market. PPO resins are used extensively in manufacture of various automotive components such as instrument panels, bulb sockets, radiator tanks, outer mirror housings, automotive fascia, and steering columns. Rapid advancements in automotive manufacturing in various parts of the world is also boosting the PPO resins market.
• Increase in usage of PPO resins in electronics and electrical appliances, especially in developing countries, is a notable trend expected to fuel the PPO resins market during the forecast period. Rise in sales of smart home appliances is also likely to bolster the PPO resins market.
• Growth in demand for PPO resins in nanocomposites in some end-use industries is creating lucrative opportunities for the market. Advances being made in processing of PPO resins are also expected to fuel the PPO resins market.
• Of late, there has been a marked fluctuation in the prices of raw materials. This is hampering the PPO resins market. Nonetheless, rise in usage of plastics made of modified polyphenylene oxides is likely to augment the PPO resins market in the near future.
Covid-19 Impact on PPO Resins Market
• On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
• Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic.
• Decrease in industrial activities due to the pandemic has been adversely impacting the global PPO resins market
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Asia Pacific Dominates PPO Resins Market
• In terms of region, the global PPO resins market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• Asia Pacific is emerging as an increasingly promising region of the global market, led by the rapidly rising demand for PPO resins in end-use industries in its key economies. Increase in usage of consumer appliances made of PPO composites isalso driving the market in the region.
• Europe is expected to be another prominent region of the global PPO resins market. Germany, Russia, France, Italy, and the U.K. are estimated to be leading countries of the market in Europeowing to the increase in demand for these resins inmedical and air separation membranes;and rise in investment in research & development activities as well as innovation in these countries.
• The market in Latin America is estimated to expand significantly driven by improving macroeconomic conditions and growth of the automotive industry, particularly in Brazil, Mexico, Argentina, and Chile. The market in Middle East & Africa is likelyto expand at asteady pace in the near futureowing to rapid industrial growth and increase inforeign direct investment, particularly in South Africa.
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