Propylene Glycol Methyl Ether Market Size, Growth Analysis Report, Forecast to 2022-2028
Propylene
glycol methyl ether, also known as 1-methoxy-2-propanol, is a colorless
organic chemical compound. Generally, Propylene glycol methyl ether is medium
boiling glycol ether that is categorized under P-series glycol ether group.
This compound is produced by the reaction between propylene oxide and methanol
which is carried out in presence catalyst. Propylene glycol methyl ether are
used prevalently as an organic solvent in commercial as well as industrial
applications such as printing ink, chemical, agricultural, and automotive,
among others. The physico-chemical properties of Propylene glycol methyl ether
such as excellent solvent activity, high dilution ratio, medium evaporation
rate, and readily biodegradable nature, among other owing to which it appears
as suitable alternative for petroleum based solvents. Thereby, it leads to
increase in demand for Propylene glycol methyl ether in several industries such
as chemical, automotive and paint & coating is increased in order to
support sustainability development
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Market Dynamics:
Across the globe, shifting preference towards the use of
biodegradable, sustainable and low VoC content paints & coating products in
several end use industries such as automotive, printing ink, and Fabrication
industry, among other owing to which demand for ecofriendly solvents is
increased over the recent past. This rise in demand for ecofriendly solvent is
major driving factor for the propylene glycol methyl ether market. Further,
increasing demand for derivative products such as propylene glycol methyl ether
acetate from several industries such as electronics, chemical and printing ink,
among other that help to drive the market. Further, upsurge in demand for
industrial, commercial, and household cleaners wherein propylene glycol methyl
ether are prevalently used in formulation that in turn drive the market. Apart
from this, fluctuating raw material prices may hamper the growth of propylene
glycol methyl ether market. Moreover, significant growth of automotive industry
coupled with increasing vehicle parc in developing region will in turn lead to
drive the propylene glycol methyl ether market.
Regional Outlook:
Over the recent past, there has been a significant growth in
demand for the propylene glycol methyl ether in developed region especially in
EU-5 Countries. In terms of production and consumption, Europe accounts
significant share of the global market. This is mainly attributed to raising
demand for ecofriendly and bio-based chemicals from several end use industries
coupled with stringent government regulation and policies in Europe to promote
sustainability development. Moreover, Europe followed by North America,
dominates the global propylene glycol methyl ether market and are expected to
register steady growth over the forecast period. Moreover, in Asia pacific
region, manufacturers are focusing on expansion of production facility in order
to cater raising demand for propylene glycol methyl etherand to enhance their
footprint in the global market. In terms of production capacity and
consumption, China is expected to dominate the global market by the end of
initial phase of forecast period. Moreover, China, Taiwan and South Korea are
expected to dominate the APAC propylene glycol methyl ethermarket owing to
significant demand from electronic and semiconductor industry in these
countries. It is expected that China propylene glycol methyl ether market will
register healthy growth over the forecast period. Further, Latin America and
Middle East & Africa are expected to register steady growth over the
forecast period
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Key Player:
Some of the key player identified across the value chain of
Propylene Glycol Methyl Ether market are;
- BASF
SE
- Eastman
Chemical Company
- Royal
Dutch Shell plc
- LyondellBasell
Industries N.V.
- DowDuPont
Inc.
- Manali
Petrochemicals Limited
- Jiangsu
Dynamic Chemical Co., Ltd.
- Jiangsu
Ruijia New Material Co., Ltd.
- Jiangsu
Hualun Chemical Industry Co., Ltd.
- Chang
Chun Group, among others
The research report presents a comprehensive assessment of
the market and contains thoughtful insights, facts, historical data, and
statistically supported and industry-validated market data. It also contains
projections using a suitable set of assumptions and methodologies. The research
report provides analysis and information according to market segments such as
geographies, application, and industry.
The report covers exhaust analysis on:
- Market
Segments
- Market
Dynamics
- Market
Size
- Supply
& Demand
- Current
Trends/Issues/Challenges
- Competition
& Companies involved
- Technology
- Value
Chain
Propylene Glycol Methyl Ether Market Segmentation:
Based on product type, global Propylene Glycol Methyl Ether
market is segmented into;
- PM
(Propylene Glycol Mono Methyl Ether)
- DPM
(Dipropylene Glycol Mono Methyl Ether)
- TPM
(Tripropylene Glycol Mono Methyl Ether)
Based on application, global Propylene Glycol Methyl Ether
market is segmented into;
- Chemical
intermediate
- Solvent
- Coalescing
agent
- Coatings
- Electronics
- TFT-LCD
Manufacturing
- Semiconductor
- Others
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