The global monopropylene glycol market is projected to show growth at stupendous speed during the forecast period of 2020 to 2030. Monopropylene glycol (MPG) is a colorless, clear, and odorless chemical. It is gaining traction owing to its water-soluble and hygroscopic nature. Increased use in various end-user industries such as paints and coatings, consumer goods, foods, and pharmaceuticals is driving the growth of the global monopropylene glycol market.
An upcoming research report from TMR on the monopropylene glycol market intends to present comprehensive study of key elements influencing the market growth. This report covers reliable data on drivers, on-going developments, opportunities, constraints, challenges, threats, and investment opportunities in the market for monopropylene glycol. Thus, the report provides valuable insights of the global monopropylene glycol market for the forecast period of 2020 to 2030.
The global monopropylene glycol market is segmented on the basis of various key factors such as end-use, sales channels, sources, applications, and region. Based on sources, the market for monopropylene glycol is bifurcated into glycerol and propylene oxide.
The global monopropylene glycol market is growing on the back of remarkable demand from various industries. Increased use of monopropylene glycol in the manufacturing of non-ionic detergents used in sugar refining, petroleum, and papermaking industries is one of the key factors driving market growth.
Monopropylene glycol is widely used as an intermediate solvent to produce superior-performance unsaturated polyester resins used in varnishes and paints. Apart from this, monopropylene glycol is also used in the production of various cosmetic products such as soaping agents, shampoos, baby wipes, bubble baths, and moisturizer. This signifies demand potential for the global monopropylene glycol market.
Monopropylene Glycol finds application in industrial sector as well. It is widely used in aircraft wing & runway deicer, anti-freezing agents, and engine coolants. This aside, growing use of this chemical in the food industry for the production of humectant food additive and food flavorings and colorings is supporting market growth.
The global monopropylene glycol market is moderately fragmented in nature. Presence of numerous active players denotes that the competitive landscape of the market for monopropylene glycol is extremely intense. Vendors working in this market are using diverse tactics to maintain their prominent position. Some of the important strategies in trend today are partnerships, mergers, acquisitions, and collaborations.
Many enterprises are focused on strengthening their production capabilities. In addition to this, several vendors are focused on strengthening their sales channels. All these moves connote that the global monopropylene glycol market holds stupendous growth avenues in the forthcoming years.
The list of key players in the global monopropylene glycol market includes:
The global monopropylene glycol market is spread across five key regions, namely, Europe, Latin America, North America, Asia Pacific, and Middle East and Africa. Of them, Asia Pacific is one of the leading regions of the market for monopropylene glycol. Key reason for this growth is increased demand for monopropylene glycol from a wide range of industries such as food-grade, consumer goods, and pharmaceutical. Apart from this, increased use as deicers and coolant in diverse industry verticals is driving the growth of the of monopropylene glycol market in Asia Pacific.