The Global Monopropylene Glycol Market is forecast to reach USD 2,999.5 Million by 2028, according to a new report by Reports and Data. Monopropylene Glycol (MPG) is a clear, colorless, odorless, hygroscopic, water-soluble, industrial and commercial chemical and viscous liquid. Monopropylene 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.
Asia Pacific region is forecasted to grow fastest with the growth highest rate of 5.9% in the period 2019 - 2027, owing to high market penetration in cosmetics & personal care products coupled with the extensive demand for MPG coolant in industrial heat sink and internal combustion engine especially in regions like India and China.
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Key participants include 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
Monopropylene 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. Monopropylene 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.To know more about the report @ https://www.reportsanddata.com/report-detail/monopropylene-glycol-market
For the purpose of this report, Reports and Data have segmented the global monopropylene glycol market on the basis of the end-use, sales channel, source, applications, and region:
End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
Direct SolventChemical IntermediateChemical ReagentsOthersSales Channel Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
Online RetailingOffline RetailingSource Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
Propylene OxideGlycerolApplications Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
Consumer GoodsPaints & CoatingsIndustrial UseFoods & PharmaceuticalsOthersRegional Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
North AmericaU.S.EuropeUKFranceAsia PacificChinaIndiaJapanMEALatin AmericaBrazilRequest a customization on the report @ https://www.reportsanddata.com/request-customization-form/2418
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