The global methoxy propanol market is forecast to reach USD 1,043.8 Million by 2028, according to a new report by Reports and Data. Methoxy Propanol (or also known as propylene glycol methyl ether) is a colorless, highly flammable, water soluble industrial and commercial chemical and a methoxy alcohol derivative. Methoxy Propanol is mostly used in the manufacture of propylene glycol methyl ether acetate and is also widely utilized as a direct or intermediate solvent chemical in the formulation of various chemical processing. Paints, inks, synthetic resin, varnishes, and rubber adhesives are some of its chemical applications. The continuous expansion of the paint & coatings, varnishes, dyes, inks, acrylics, stains, toners, anti-freezers and coolants are expected to drive the demand throughout the forecast period. Direct & Intermediate solvent, chemical reagent, coalescing agent, and other processing aids are some of its widely used end-usages. Growing demand for consumer electronics products are harnessing the growth of this market substantially.
Asia Pacific region is forecasted to grow the fastest with the highest growth rate of 6.4% in the period 2019 – 2027, owing to high market penetration in paints & coatings and electronics applications coupled with the extensive demand for the automotive coolants, especially in the regions like India and China.
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Top Key Companies include – The Dow Chemical Company, Royal Dutch Shell PLC, Exxon Mobil Corporation, BASF SE, Tokuyama Corporation, LCY Chemical Corp., OXEA GmbH, JXTG Holdings, Inc., LG Chem Ltd., Sasol Limited, and ISU Chemical.
Further key findings from the report suggest
- Methoxy propanol is one of the safest synthetic alcohol to be used in the direct solvent and are widely used in the chemical formulations. Eyeglasses cleaner, toner of the electronics appliances, anti-freezing agent in the diesel engine are some of its end-use applications. The direct solvent is forecasted to reach a market share of 34.5% by 2027 growing with a rate of 6.3% during the period 2019 – 2027.
- Chemical intermediate segment is measured to gain a market revenue of USD 186.9 Million by 2027 and the CAGR is forecasted to be 5.5% in the forecast period. Methoxy propanol is utilized as the chemical intermediate in the processing of glycol ethers, cellulose, and acrylics.
- Growing penetration of the online retailing businesses for the chemicals and materials especially in the emerging nation in Asia Pacific, is helping the market grow; broadening its 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.
- Europe would reach a market share of 20.5% by 2027 and would grow at a CAGR of 5.0% in the forecast period. Germany has the highest number of valuable players in this region, while France is the fastest-growing market in Europe.
- North America is forecasted to witness a significant growth in the overall market, with 25.7% of market possession by 2027 and CAGR of 6.1% during the forecast period. US possesses the highest market share in this region.
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End-Use Outlook (Revenue: USD Million; Unit: Kilo Tons 2018-2028)
- Direct Solvent
- Chemical Intermediate
- Coalescing Agent
- Pesticides
- Chemical Reagents
- Others
Sales Channel Outlook (Revenue: USD Million; Unit: Kilo Tons 2018-2028)
- Online Retailing
- Offline Retailing
Applications Outlook (Revenue: USD Million; Unit: Kilo Tons 2018-2028)
- Industrial Use
- Paints and Coatings
- Electronics Industry
- Automotive Use
- Others
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Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the methoxy propanol Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of methoxy propanol Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the methoxy propanol Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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