Global Monopropylene Glycol Market: Snapshot
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.
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Global Monopropylene Glycol Market: Growth Dynamics
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.
Global Monopropylene Glycol Market: Competitive Analysis
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 Dow Chemical Company
- Royal Dutch Shell PLC
- The Archer Daniels Midland Company
- Airedale Chemical
- Huntsman Corporation
- LyondellBasell Industries N.V.
- DuPont Tate & Lyle Bio Products Company, LLC
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Global Monopropylene Glycol Market: Regional Assessment
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.