The Global Mono propylene Glycol Market is forecast to reach USD 2,999.5 Million by 2028, according to a new report by Reports and Data. Mono propylene Glycol (MPG) is a clear, colorless, odorless, hygroscopic, water-soluble, industrial and commercial chemical and viscous liquid. Mono propylene Glycol is mostly used in the manufacture of non-ionic detergents which are used in the petroleum, sugar-refining, and paper-making industries and are also widely utilized as an intermediate solvent the production of high-performance unsaturated polyester resins used in paints and varnishes. Shampoos, soaping agent, bubble baths, baby wipes, and moisturizer in make-up are some of its applications in cosmetics production. The continuous expansion of the cosmetics personal care products, paint coatings, inks, anti-freezing and industrial coolants, hydraulic fluids, and detergents are expected to drive the demand throughout the forecast period. Growing demand for excipients in pharmaceutical industries for long term stabilization of the medicines, the growth is being mobilized substantially.
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Top Companies: Royal Dutch Shell PLC, The Dow Chemical Company, Airedale Chemical, The Archer Daniels Midland Company, LyondellBasell Industries N.V., Huntsman Corporation, DuPont Tate Lyle Bio Products Company, LLC, Chemtex Speciality Limited, Solventis Ltd, and Banner Chemicals Limited.
Further key findings from the report suggest:
- Mono propylene glycol is a very safe chemical compound and suitable to be used as a direct solvent in various chemical formulations. Non-ionic detergents, anti-freezing agents, deicers, humectant food additive, and moisturizing agents, to name a few, are some of its end-use applications. The direct solvent is forecasted to reach a market share of 52.6% by 2027 growing with a rate of 5.5% during the period 2019 – 2027.
- Chemical intermediate segment is measured to gain a market revenue of USD 0.52 Billion by 2027 and the CAGR is forecasted to be 5.9% in the forecast period. Mono propylene glycol is utilized as a chemical intermediate in the manufacture of high-performance unsaturated polyester resins for making the bathtubs, water or chemical tank, and others.
- The most common source is the Propylene Oxide (PO) and the usual process of manufacturing is the non-catalytic hydrolysis of propylene oxide in a high-temperature and a high-pressure environment. The catalytic process involves the ion exchange resin or a small amount of presence of sulfuric acid or alkali. The bio-based processing from glycerol source require higher initial investment for an extensive refining process of the bio-diesel by-product.
- Growing penetration of the online retailing businesses for the chemicals and materials especially in the emerging nations in Asia Pacific is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2027.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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Market Segmentation:
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Mono propylene Glycol market is segmented into:
End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
- Direct Solvent
- Chemical Intermediate
- Chemical Reagents
- Others
Sales Channel Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
- Online Retailing
- Offline Retailing
Source Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
- Propylene Oxide
- Glycerol
Applications Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
- Consumer Goods
- Paints Coatings
- Industrial Use
- Foods Pharmaceuticals
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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