New York, Global Mono Propylene Glycol Market report from Global Insight Services is the single authoritative source of intelligence on Mono Propylene Glycol Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Mono propylene glycol is a clear, colorless, and nearly odorless liquid with a sweet taste. It is a synthetic organic compound that is soluble in water and insoluble in most organic solvents. It is used as a solvent, emulsifier, and antifreeze. Mono propylene glycol is produced by the catalytic hydrogenation of propylene oxide.
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Key Trends
The primary factor driving the growth of the MPG market is the increasing demand from the Asia-Pacific region, particularly from China and India. The Asia-Pacific region is the largest market for MPG, accounting for more than 50% of the global demand.
The increasing demand for MPG is primarily driven by its use as an antifreeze and coolant in the automotive and HVAC industries. MPG is also used as a raw material in the production of unsaturated polyester resins (UPRs), which are used in a variety of applications, such as construction, automotive, and marine.
The UPR application segment is projected to be the fastest-growing application segment of the MPG market during the forecast period. The growth of this application segment can be attributed to the increasing use of UPRs in the construction industry, particularly in the Asia-Pacific region.
Key Drivers
The key drivers of the Mono Propylene Glycol market are the increasing demand for propylene glycol from various industries, such as the automotive, food & beverage, and pharmaceutical industries. The other drivers include the growing demand for eco-friendly and biodegradable products, and the increasing awareness about the health benefits of propylene glycol.
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Market Segments
The Mono Propylene Glycol Market is segmented by grade type, application, source and region. By grade type, the market is divided into technical and food. Based on application, it is bifurcated into food additive, heat transfer fluid, and pharmaceutical solvent. On the basis of source, it is classified into synthetic and bio-based. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Mono Propylene Glycol Market includes players such as BASF SE, Royal Dutch Shell PLC, LyondellBasell Industries N.V., Sumitomo Chemical Co., Ltd., The Dow Chemical Company, Huntsman Corporation, Archer Daniels Midland Company, Adeka Corporation, AGC Inc. and Oleon NV.
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