Because of the strong demand for propylene oxide from end-use industries, the propylene oxide market in Asia Pacific is gaining substantial pace. Because of new advancements in infrastructure, building, and the automotive industry, propylene demand has skyrocketed. The largest contributors to propylene oxide growth are China, India, Japan, and South Korea. The reduction in taxes for small engine automobiles in China has resulted in an increase in car sales, which has fueled the expansion of the propylene oxide industry. According to the China Association of Automobile Manufacturers (CAAM), China's automotive industry grew by 6.2 percent year over year in 2016-2017.
The presence of significant automotive businesses in North America, such as Ford, General Motors, and Fiat, is likely to boost automobile production over the forecast period. Furthermore, the New Building Canada Fund has set a goal of investing $10 billion in public infrastructure over a ten-year period, from 2014 to 24.
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