Market Definition
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.
Market Outlook
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.
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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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
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.
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Major 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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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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