Global Monopropylene Glycol Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Grade;

Technical, Food and Pharmaceutical.

By Application;

Unsaturated Polyester Resin (UPR), Polyester Fiber Production, Food Additive, Heat Transfer Fluid, Pharmaceutical Solvent, Liquid Detergent and Paints & Coating.

By End Use;

Chemicals, Cosmetics & personal care, Pharmaceutical, Food & Beverage and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn134452550 Published Date: October, 2024 Updated Date: November, 2024

Introduction

Global Monopropylene Glycol Market (USD Million), 2020 - 2030

In the year 2023, the Global Monopropylene Glycol Market was valued at USD 10,273.47 million. The size of this market is expected to increase to USD 14,610.71 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 5.2%.

The Global Monopropylene Glycol (MPG) Market is a vital segment of the glycol industry, driven by its versatile applications across various sectors. MPG, chemically known as propane-1,2-diol, is a colorless, odorless liquid with excellent solvent properties and hygroscopic characteristics. It is primarily used as a chemical intermediate in the production of polyester resins, functional fluids, and antifreeze formulations. The market's growth is fueled by the increasing demand for MPG in industries such as automotive, pharmaceuticals, cosmetics, and food processing, where its properties contribute to product performance and stability.

In the automotive sector, MPG serves as a key ingredient in engine coolants and antifreeze formulations due to its ability to lower the freezing point of water and prevent corrosion in cooling systems. Its role in ensuring the efficient operation of engines under varying temperature conditions underscores its importance in maintaining vehicle performance and longevity. MPG finds extensive use in the manufacturing of unsaturated polyester resins, which are essential in composite materials for construction, marine, and automotive applications. These resins exhibit excellent mechanical properties and corrosion resistance, making them ideal for diverse industrial uses.

The pharmaceutical and cosmetics industries utilize MPG for its humectant properties, which help retain moisture and enhance the texture of skincare products, creams, and lotions. Its compatibility with various active ingredients and stability under different formulations make it a preferred choice in pharmaceutical preparations. Additionally, MPG serves as a solvent in the food processing industry, aiding in the extraction of flavors and active compounds from natural sources and ensuring product quality and consistency. As global industries continue to innovate and expand, the demand for MPG is expected to rise, driven by its critical role in enhancing product performance, safety, and consumer satisfaction across diverse applications.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Grade
    2. Market Snapshot, By Application
    3. Market Snapshot, By End Use
    4. Market Snapshot, By Region
  4. Global Monopropylene Glycol Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Versatile Applications
        2. Humectant Properties
        3. Non-Toxic Solvent
      2. Restraints
        1. Regulatory Compliance
        2. Price Volatility
        3. Environmental Concerns
      3. Opportunities
        1. Sustainable Packaging
        2. Bio-based Alternatives
        3. Renewable Feedstocks
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Monopropylene Glycol Market, By Grade, 2020 - 2030 (USD Million)
      1. Technical
      2. Food
      3. Pharmaceutical
    2. Global Monopropylene Glycol Market, By Application, 2020 - 2030 (USD Million)
      1. Unsaturated Polyester Resin (UPR)
      2. Polyester Fiber Production
      3. Food Additive
      4. Heat Transfer Fluid
      5. Pharmaceutical Solvent
      6. Liquid Detergent
      7. Paints & Coating
    3. Global Monopropylene Glycol Market, By End Use, 2020 - 2030 (USD Million)
      1. Chemicals
      2. Cosmetics & personal care
      3. Pharmaceutical
      4. Food & Beverage
      5. Others
    4. Global Monopropylene Glycol Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia/New Zealand
        5. South Korea
        6. ASEAN
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Royal Dutch Shell PLC
      2. LyondellBasell Industries N.V.
      3. Sumitomo Chemical Co., Ltd.
      4. The Dow Chemical Company
      5. Huntsman Corporation
      6. Archer Daniels Midland Company
      7. Adeka Corporation
      8. AGC Inc.
      9. Oleon NV
      10. Repsol
      11. Foodchem International Corporation
      12. SKC Korea
      13. Sadara Chemical Company
      14. INEOS Group of Holdings S.A.
  7. Analyst Views
  8. Future Outlook of the Market