Monopropylene Glycol Market
Monopropylene Glycol is a viscous liquid which is colourless, clear, odourless, hygroscopic, and water soluble. It is used in the manufacturing of detergents which are mainly used in the refining of sugar, petroleum, and also in the paper making industries. It’s extensively used in industrial applications such as engine coolants, anti-freezing agents, and in aircrafts. It is used in food industries as well for the manufacturing of food colourings, flavourings and food additives. It is forecast to reach USD 2.87 Billion by 2027, at a growth rate of 5.1% in terms of value.
Market Drivers
Prime propellers of the market is the growth in consumer goods application. It is used in personal care products and cosmetics; it is vastly used in unsaturated polyester resins which can be further used in varnishes, printing inks and also in premium paints. Paints and coatings are expected to constitute the market share of 14.6% by 2027 with a CAGR of 5.9% within the forecast period. The industrial use constituted the market share of 27.3% in the year 2018 and is estimated to grow at CAGR of 5.2% in forecast period.
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Key Companies of the Monopropylene Glycol Market are:
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.
Regional Analysis
The regional landscape for the Global Monopropylene Glycol Market is distributed among Latin America, Asia Pacific, Europe, North America and Middle East and Africa. North America is forecast to witness the growth rate of 5.6%, accounting for 25.7% of the market revenue share by 2027. Europe is expected to hold a market share of 20.5%, exhibiting a CAGR of 4.5% during the forecast period.
End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2016-2027)
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Sales Channel Outlook (Revenue: USD Billion; Volume: Million Tons; 2016-2027)
Source Outlook (Revenue: USD Billion; Volume: Million Tons; 2016-2027)
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Applications Outlook (Revenue: USD Billion; Volume: Million Tons; 2016-2027)
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