Mono Propylene Glycol Market Size to Surpass US$ 5 Bn by 2029
Owing to its unique chemical characteristics such as high insulation resistance and hygroscopic properties, mono propylene glycol is among the most commonly used chemical in a wide range of industrial applications. Market growth is mainly attributed to the significant rise in demand for mono propylene glycol in a wide range of end-use industries such as chemicals, food & beverage, paints and coating, and pharmaceuticals. By 2029, manufacturers are expected to witness lucrative sales opportunities in these rapidly-growing end-use industries, especially in the chemicals industry, and the market is expected to cross the valuation of over US$ 5 billion.
Frequently Asked Questions About mono propylene glycol market
What is the mono propylene glycol revenue opportunity, and how will it develop over the next 10 years?
The global mono propylene glycol market revenue was worth US$ 3 Bn in 2018, and is expected to grow at a CAGR of 4.5% during the forecast period 2019-2029.
What are the key trends disrupting the demand for mono propylene glycol?
Major trends affecting the mono propylene glycol demand are the dwindling fossil fuel resources for producing different varieties of petrochemical products and increasing adoption of bio-based chemicals.
How are key market players gaining benefits from bio-based chemicals?
Key players in the market are determined to attain sustainability in the coming years by developing and commercializing bio-based chemicals. Moreover, growing investments in the production of bio-based mono propylene glycol will open new revenue avenues in the global marketplace.
What is the growth prospect of technical grade mono propylene glycol over the forecast period?
Growing use of technical grade mono propylene glycol as reinforced plastic laminates for marine construction is expected to mark a revenue share of close to US$ 3 Bn by the end of 2029, registering moderate growth rate during 2019-2029.
How will the unsaturated polyester resins contribute to the market growth?
Developing economies such as Brazil, China, and India are observing increasing investments for infrastructural development and expansion of the building and construction industry which is catapulting the demand for unsaturated polyester resins. The result is expected to lead to increased application of mono propylene glycol in unsaturated polyester resins, contributing around US$ 1.5 Bn by 2029.
Which region is expected to grow rapidly in the global mono propylene glycol market?
Sales of mono propylene glycol remain maximum in North America and will continue to grow at a moderate pace over the forecast period. Rising investment in the infrastructure & construction sectors in the U.S along with growing usage of mono propylene in pharmaceuticals and food & beverage industries are influencing the market growth.
Technical Grade Retains High Sales Potential
One of the most prominent applications of mono propylene glycol is in the production of unsaturated polyester resins, and this indicates heightened demand for technical grade products among end users. More than half the revenue share of the global market is accounted by technical grade mono propylene glycol, and this scenario will continue to prevail in the coming years. The demand for food grade mono propylene glycol will also increase rapidly in the near future owing to its burgeoning consumption in the food industry. Leading manufacturers would target food additive manufacturers to gain profits.
North America Leading, with High Demand from Animal Feed Industry
The demand and sales of mono propylene glycol remain significant in North America, despite the presence of stringent regulatory framework. The region accounts for more than one-fourth revenue share of the global market. Leading players in the North American market are targeting animal feed manufacturing companies to boost their sales in the region. While developed markets continue to lead the curve with high consumption of mono propylene glycol, sales in East Asia will also increase at a significantly high CAGR over the next decade.
Mono Propylene Glycol to Replace Ethylene Glycol
Growing sales of mono propylene glycol are also attributed to its demand as a less toxic alternative for ethylene glycol in many of its applications. Leading players in the market are boosting their product sales in ethylene glycol-based products such as cosmetics and personal care products. To capitalise on the higher efficiency and lower toxicity of mono propylene glycol over ethylene glycol, stakeholders in the market are likely to enter new industrial landscape in the coming years. Furthermore, market players are also foraying in the automotive and air transportation industry, where ethylene glycols had historically been used.
Consumption of technical grade products remains high
Demand for food grade products will increase rapidly
Unsaturated Polyester Resins (UPR) remain the primary application
Adoption in production of paint & coating to gain momentum
Chemicals industry remains the largest end user
Pharmaceuticals industry to create new opportunities
Synthetic mono propylene glycol gobbles a significant share
Bio-based mono propylene glycol to witness high demand
How Growth will Unfold
While the chemicals industry continues to account for more than half the revenue share of the global market for mono propylene glycol, leading players are foraying into new industrial areas to explore untapped sales potential and opportunities. The demand from cosmetics & personal care and pharmaceuticals industries, as mono propylene glycol is well-known as a pharmaceutical excipient. Various pharmaceutical applications such as local anesthetics, formulation of drugs and medicines, antiseptic and vaccines, and vitamins will contribute to the growth of mono propylene glycol market.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Mono Propylene Glycol Market Analysis 2019-2029
A recent market study published by FMI on the mono propylene glycol market includes global industry analysis for 2014-2018 & opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters of the mono propylene glycol market, the growth prospects of the market are obtained with maximum precision.
Mono Propylene Glycol Market Taxonomy
The global mono propylene glycol market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
- Unsaturated Polyester Resin (UPR)
- Polyester Fiber Production
- Food Additive
- Heat Transfer Fluid
- Pharmaceutical Solvent
- Liquid Detergent
- Paints & Coating
- Other Industrial
- Cosmetics & personal care
- Food & Beverage
- North America
- Latin America
- South Asia & Pacific
- East Asia
- Middle East
The report starts with the executive summary of the mono propylene glycol market, which includes a summary of the key findings and statistics. It also includes the demand & supply-side trends pertaining to the mono propylene glycol market.
Readers can find the definition and a detailed taxonomy of the mono propylene glycol market in this chapter, which will help them understand basic information about the mono propylene glycol market. This section also highlights the inclusions and exclusions, which help readers understand the scope of the mono propylene glycol market report.
The mono propylene glycol market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed industry trends are also provided in this section.
This section includes factors that have emerged as key success factors and strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the mono propylene glycol market in the period 2019-2029. This chapter includes a detailed analysis of the historical mono propylene glycol market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year, and an incremental $ opportunity for the forecast period (2019–2029). Along with this, pricing analysis of the mono propylene glycol market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the mono propylene glycol market.
This chapter explains key macro-economic factors that are expected to influence the growth of the mono propylene glycol market over the forecast period. Along with macroeconomic factors, this section also highlights the value chain, forecast factors, and growth outlook for the mono propylene glycol market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the section.
Based on grade, the mono propylene glycol market is segmented into technical grade, food grade, and pharmaceutical grade. In this chapter, readers can find information about key trends and developments in the mono propylene glycol market and market attractiveness analysis based on grade.
Based on application, the mono propylene glycol market is segmented into unsaturated polyester resins (UPR), polyester fiber production, food additives, heat transfer fluids, pharmaceutical solvents, liquid detergents, paints & coatings, and other industrial. In this chapter, readers can find information about key trends and developments in the mono propylene glycol market and market attractiveness analysis based on application.
This chapter provides details about the mono propylene glycol market based on end use, and has been classified into chemicals, cosmetics & personal care, pharmaceutical, food & beverages, and others. In this chapter, readers can understand the market attractiveness analysis based on end use.
This chapter provides details about the mono propylene glycol market based on source, and has been classified into synthetic, and bio-based. In this chapter, readers can understand the market attractiveness analysis based on end use.
This chapter explains how the mono propylene glycol market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, Oceania, the Middle East, and Africa, and Emerging Countries.
This chapter includes a detailed analysis of the growth of the North America mono propylene glycol market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find pricing analysis, regional trends, and market growth based on segments and countries in North America.
This chapter provides the growth scenario of the mono propylene glycol market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, the assessment of the market across target segments has been provided.
Important growth prospects of the mono propylene glycol market in several countries such as Germany, the U.K., France, Spain, Italy, Russia, and the Rest of Europe, are included in this chapter.
In this chapter, India, Indonesia, Thailand, Malaysia, Oceania and Rest of South Asia are the prime subjects of assessment to obtain the growth prospects of the South Asia mono propylene glycol market. Readers can find detailed information about the growth parameters of the South Asia& Pacific mono propylene glycol market during the forecast period of 2019-2029.
This chapter highlights the growth of the mono propylene glycol market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers understand key factors that are responsible for the growth of the mono propylene glycol market in East Asia.
This chapter highlights the growth of the mono propylene glycol market in the Middle East by focusing on KSA, Iran, UAE, Kuwait, Qatar, Turkey, Jordan, and Rest of Middle East. This section also helps readers understand key factors that are responsible for the growth of the mono propylene glycol market in Middle East.
This chapter provides information about how the mono propylene glycol market will grow in major countries in the Africa region such as Egypt, South Africa, Morocco, Nigeria and the Rest of MEA, during the forecast period of 2019-2029.
This section highlights the growth prospects of the mono propylene glycol market for emerging markets such as India, Mexico, and China.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the mono propylene glycol market, along with their market presence analysis by region and product portfolio.
Some of the market players featured in the report are Royal Dutch Shell PLC, Dow Chemical Company, LuondellBasell Industries N.V., Huntsman Corporation, Adeka Corporation, AGC Inc., Repsol, Sadara Chemical Company and others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the mono propylene glycol market report.
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the mono propylene glycol market.
How the research was conducted?
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- Yesteryear trends
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