Mono Propylene Glycol Market Research by Key players, Type and Application, Future Growth to 2029

Mono propylene glycol (MPG) continues to find application across diverse industries, on the back of its low toxicity and hygroscopic properties. A recent Future Market Insights (FMI) study suggests that the global mono propylene market value will reach beyond US$ 5 Bn towards the end of 2029, witnessing a moderate CAGR during forecast period (2022 – 2029).

Environmental sustainability of bio-based mono propylene glycol will be significantly responsible in upholding its demand in the global market over the course of following years.

Manufacturers in the mono propylene glycol market can gain substantial profits by targeting long-term supply contracts from prominent end-use industries such as food & beverage, pharmaceutical, building construction, and others, across various developing countries such as India and China.

For Critical Insights, Request for PDF Sample @
https://www.futuremarketinsights.com/reports/sample/rep-gb-10801

Key Takeaways – Mono Propylene Glycol Market Study

  • Low toxicity of mono propylene glycol, as compared to ethylene glycol, is expected to drive its usage in cosmetics and personal care products on a large scale. As ethylene glycol is poisonous and must be handled with caution to restrict any human or animal exposure, MPG will witness higher demand in the forecast period.
  • Being the preferred glycol for manufacturing high performance, unsaturated polyester resins for several uses such as reinforced plastic laminates for marine construction, gel coats, sheet molding compounds (SMC), and synthetic marble casting, industrial grade mono propylene glycol is projected to witness significant demand. It is also a vital intermediate in the production of alkyd resins for paints and varnishes.
  • Substantial demand is anticipated for mono propylene glycol from the pharmaceutical industry as it is a well-known excipient. MPG is used for several purposes in a broad range of pharmaceutical dosage forms, for e.g. as a humectant in topical medication, as a preservative in solutions, or as a co-solvent in aerosols, parenteral, and oral solutions.

Manufacturers Moving towards Bio-based Mono Propylene Glycol

Bio-based mono propylene glycol is gaining popularity in the market, as a switch from petrochemical- to renewable-based MPG results in the reduction of climate change impact of 40-60% kg of CO2. Several countries are taking initiatives to increase the adoption of bio-based mono propylene glycol among various end-use industries owing to its significant environmental benefits.

Who Is Winning?

The global mono propylene glycol market is fairly consolidated due to the unavailability of raw materials required for the manufacturing of mono propylene glycol, especially at the regional level, and absence of local manufacturers. Key manufacturers such as Dow Chemical Company, Lyondell Basell, BASF SE, and Royal Dutch Shell PLCaccount for about 40% of the overall market share.

North America and Europe are anticipated to account for a significant share of the global mono propylene glycol market, owing to rapid infrastructural development and increasing preference for bio-based mono propylene glycol.

For More Information, Query or Customization Visit @
https://www.futuremarketinsights.com/customization-available/rep-gb-10801

Mono Propylene Glycol Market Market by Category

By Grade:

  • Technical
  • Food
  • Pharmaceutical

By Application:

  • Unsaturated Polyester Resin (UPR)
  • Polyester Fiber Production
  • Food Additive
  • Heat Transfer Fluid
  • Pharmaceutical Solvents
  • Liquid Detergents
  • Paints & Coatings
  • Other Industrial

By End Use:

  • Chemicals
  • Cosmetics & personal care
  • Pharmaceutical
  • Food & Beverage
  • Others

By Source:

  • Synthetic
  • Bio- based

Learn More About Report Inclusions

The research report analyzes total sales of mono propylene glycols on the basis of volume (KT) and value (US$ Mn). The report includes a competition analysis section that includes market structure analysis, tier structure analysis, competition development, and other crucial information about global and regional players in the market.

Opportunities in the market are projected on the basis of factors such as construction industry growth, food industry outlook, pharmaceutical industry overview, investments in upcoming infrastructure projects, and expansion in production capacity by worldwide manufacturers.

Request Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-10801

The market is mailnly driven by the end use industry such as food & beverage, cosmetics & personal care industry market. Due to Covid-19 pandemic all the industries has suffered and witnessed downfall, but in the coming years market is anticipated to witness significant growth owing to the increase in consumption from end use industries.

Due to increased environmental concerns, manufacturers in the business are focused on bio-based chemicals for producing mono propylene glycol, which is acting as another growth-inducing element.

Furthermore, as the coronavirus disease (COVID-19) spreads, there is an increase in the need for propylene glycol in the production of hand sanitizers and surface disinfectants. Thus the end use segment of pharmaceuticals have witness a positive outlook in the market.

Explore FMI’s Extensive ongoing Coverage on Chemicals & Materials Domain

Polyalkylene Glycol Market: By 2032, the polyalkylene glycol market is anticipated to reach US$ 594.6 billion, expanding at a high CAGR of 6.1%. The market size is worth US$ 328.94 billion in 2022.

Butyl Glycol Market: The global butyl glycol market is estimated to surpass US$ 3.23 Bn by 2022. Growing application of butyl glycol as a coupling agent and solvent across household cleaning and industrial sectors is propelling the demand in the market.

Propylene Glycol Market: Propylene glycol is a chemical that is produced by reaction of propylene oxide with water. It is a colorless, clear, almost odorless, viscous liquid which has a faint sweet taste.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/category/chemicals-and-materials
LinkedInTwitterBlogs

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these