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).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.
Global Monopropylene Glycol Market Report Snapshot
Parameters | Description |
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Market | Global Monopropylene Glycol Market |
Study Period | 2020 - 2030 |
Base Year (for Monopropylene Glycol Market Size Estimates) | 2023 |
Drivers |
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Restraints |
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Opportunities |
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Segment Analysis
The Global Monopropylene Glycol Market is segmented by grade, application, and end-use industry, reflecting its diverse range of uses and applications across various sectors. By grade, MPG is categorized into industrial grade and pharmaceutical grade. Industrial grade MPG is predominantly used in applications such as antifreeze formulations, hydraulic fluids, and polyester resins due to its cost-effectiveness and suitability for non-food applications. Pharmaceutical grade MPG, on the other hand, meets stringent purity standards required for use in pharmaceuticals, cosmetics, and personal care products, where its high quality and low toxicity are paramount.
In terms of application, Monopropylene Glycol serves as a versatile solvent, humectant, and coolant across multiple industries. In the automotive sector, it is a key component of engine coolants and antifreeze formulations due to its ability to lower the freezing point of water and prevent corrosion. The food and beverage industry utilizes MPG as a solvent for flavors and food colorings, as well as a humectant to maintain moisture levels in products like baked goods and processed foods. Its stability and compatibility with food ingredients make it essential in ensuring product quality and shelf life.
End-use industries for Monopropylene Glycol include pharmaceuticals, cosmetics, personal care, and industrial applications. In pharmaceuticals, MPG is used as a solvent in oral, topical, and injectable formulations, ensuring the uniform dispersion and efficacy of active pharmaceutical ingredients (APIs). The cosmetics and personal care industry relies on MPG as a solvent for fragrances and active ingredients in skincare products, as well as a humectant to retain moisture in lotions and creams. Industrial applications encompass a wide range of uses, including as a coolant in HVAC systems, a solvent in paints and coatings, and a hydraulic fluid in industrial machinery, highlighting its versatility and indispensable role across global markets.
Global Monopropylene Glycol Segment Analysis
In this report, the Global Monopropylene Glycol Market has been segmented by Grade, Application, End Use and Geography.
Global Monopropylene Glycol Market, Segmentation by Grade
The Global Monopropylene Glycol Market has been segmented by Grade into Technical, Food and Pharmaceutical.
The technical grade Monopropylene Glycol (MPG) is primarily used in non-food applications such as industrial processes, antifreeze formulations, hydraulic fluids, and polyester resins. Its cost-effectiveness and high purity levels make it suitable for applications where food-grade standards are not required. Technical grade MPG is essential in sectors like automotive, construction, and manufacturing, where it serves as a versatile solvent, coolant, and moisture regulator.
Food-grade MPG adheres to stringent safety and purity standards set by regulatory authorities for use in food and beverage applications. It is widely employed as a solvent for flavors and food colorings, ensuring their even distribution and stability in various processed foods. Additionally, food-grade MPG acts as a humectant in food products, helping to maintain moisture content and texture, thereby extending shelf life and enhancing product quality. Its non-toxic nature and compatibility with food ingredients make it indispensable in the food industry, contributing to the safety and palatability of consumer products.
Pharmaceutical-grade MPG meets rigorous standards for purity and quality, making it suitable for use in pharmaceutical formulations. It serves as a solvent for active pharmaceutical ingredients (APIs) in oral, topical, and injectable medications, ensuring uniform dispersion and efficacy. Pharmaceutical-grade MPG also acts as a carrier for drug delivery systems and a stabilizer in pharmaceutical formulations, contributing to the safety, stability, and bioavailability of medicines. Its pharmaceutical applications extend to veterinary medicines and oral care products, where its solvency properties play a crucial role in product effectiveness and consumer safety.
Global Monopropylene Glycol Market, Segmentation by Application
The Global Monopropylene Glycol Market has been segmented by Application into Unsaturated Polyester Resin (UPR), Polyester Fiber Production, Food Additive, Heat Transfer Fluid, Pharmaceutical Solvent, Liquid Detergent and Paints & Coating.
The unsaturated polyester resin (UPR) production, where MPG serves as a crucial raw material. UPRs are widely used in composite materials for manufacturing fiberglass-reinforced products such as pipes, tanks, and marine vessels. MPG facilitates the polymerization process, imparting desired mechanical and chemical properties to the resin, including strength, durability, and resistance to corrosion.
Another significant application of MPG is in polyester fiber production, where it acts as a key component in the polymerization process. Polyester fibers find extensive use in textiles, home furnishings, and industrial applications due to their strength, elasticity, and wrinkle resistance. MPG enhances the melt viscosity and spinning characteristics of polyester, ensuring uniform fiber formation and product quality.
MPG is also utilized as a food additive, primarily as a solvent and carrier for flavors, colors, and preservatives in food and beverage applications. Its properties as a non-toxic, odorless, and stable compound make it suitable for enhancing product consistency and shelf life. Additionally, MPG finds application as a heat transfer fluid in industrial processes, where its high thermal stability and low volatility contribute to efficient heat exchange and temperature control. In pharmaceuticals, MPG serves as a solvent for active ingredients and as a component in oral and topical formulations, ensuring solubility and bioavailability of drugs. Furthermore, MPG's role in liquid detergents and paints & coatings industries underscores its versatility across diverse sectors of the global market.
Global Monopropylene Glycol Market, Segmentation by End Use
The Global Monopropylene Glycol Market has been segmented by End Use into Chemicals, Cosmetics & personal care, Pharmaceutical, Food & Beverage and Others.
The chemicals sector, Monopropylene Glycol serves as a crucial component in various industrial processes, including the production of unsaturated polyester resins, which are widely used in construction materials, automotive parts, and marine applications. Its role in these applications is pivotal due to its ability to act as a reactive intermediate and enhance the mechanical properties of composite materials.
In the cosmetics and personal care industry, Monopropylene Glycol is utilized for its properties as a solvent, humectant, and stabilizer in formulations ranging from skincare products to hair care items. It helps maintain the viscosity and texture of creams, lotions, and hair conditioners, while also enhancing the absorption and effectiveness of active ingredients. Its non-toxic nature and ability to blend seamlessly with other ingredients make it a preferred choice among cosmetic formulators seeking safe and reliable components.
Pharmaceutical applications of Monopropylene Glycol revolve around its role as a solvent and carrier for pharmaceutical active ingredients (APIs). It ensures the uniform distribution and stability of drugs in formulations such as oral suspensions, topical creams, and injectables. The pharmaceutical grade of MPG meets stringent purity standards to ensure safety and efficacy in medical applications. Moreover, in the food and beverage industry, MPG acts as a solvent for flavors and food colorings, as well as a humectant to retain moisture in products like baked goods and processed foods, contributing to product quality and consumer satisfaction.
Global Monopropylene Glycol Market, Segmentation by Geography
In this report, the Global Monopropylene Glycol Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Monopropylene Glycol Market Share (%), by Geographical Region, 2023
North America stands out as a significant market driven by its robust industrial base and widespread application of monopropylene glycol (MPG) in various sectors. MPG is extensively used in industries such as automotive, pharmaceuticals, and food processing, where it serves as a solvent, humectant, and stabilizer. The region's stringent regulatory standards and emphasis on product quality also shape market dynamics, influencing production practices and consumer preferences.
In Europe, the demand for monopropylene glycol is bolstered by its applications across diverse industries, including cosmetics, textiles, and chemical processing. The region's strong emphasis on sustainable manufacturing practices and environmental regulations underscores the importance of using high-quality raw materials and efficient production processes. European manufacturers often prioritize bio-based sources of MPG to align with environmental sustainability goals and cater to the growing consumer preference for eco-friendly products.
Asia Pacific emerges as a rapidly growing market for monopropylene glycol, fueled by industrial expansion and increasing consumption across emerging economies. Countries like China, India, and Japan are key contributors to regional demand, driven by their expanding manufacturing sectors and rising investments in infrastructure development. The versatility of MPG in applications such as plastics production, automotive fluids, and electronics manufacturing positions it as a vital component in the region's industrial growth trajectory. Strategic initiatives aimed at enhancing production efficiency and adopting advanced technologies further support the market's expansion in Asia Pacific.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Monopropylene Glycol Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers
- Versatile Applications
- Humectant Properties
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Non-Toxic Solvent : Monopropylene Glycol (MPG) stands out in the chemical market as a non-toxic solvent renowned for its versatility and safety profile. As a non-toxic solvent, MPG is widely favored across industries such as pharmaceuticals, cosmetics, and food processing, where stringent safety regulations and consumer preferences for clean-label products drive its demand. In pharmaceutical applications, MPG serves as a solvent for active pharmaceutical ingredients (APIs) in various formulations, ensuring efficient drug delivery while meeting strict purity and safety standards. Its non-toxic nature makes it ideal for use in medications intended for oral, topical, and parenteral administration, ensuring patient safety and compliance with regulatory requirements.
In the cosmetics and personal care industry, Monopropylene Glycol acts as a non-irritating solvent and humectant in skincare products, hair care formulations, and cosmetic preparations. Its ability to dissolve and stabilize active ingredients without causing skin irritation or adverse reactions is highly valued by consumers and formulators alike. MPG's non-toxic properties also make it a preferred choice in food and beverage applications, where it functions as a solvent for flavors and food colorings, as well as a humectant in products like baked goods and processed foods. Its inclusion helps maintain product quality and shelf stability while ensuring consumer safety and satisfaction.
In industrial applications, Monopropylene Glycol serves as a non-toxic coolant and hydraulic fluid, enhancing the efficiency and safety of machinery and equipment. Its ability to lower the freezing point of water without posing health risks or environmental hazards makes it suitable for use in diverse industrial processes. As industries worldwide prioritize sustainability and safety, MPG's role as a non-toxic solvent continues to expand, driven by its reliability, effectiveness, and compatibility with a wide range of applications across global markets.
Restraints
- Regulatory Compliance
- Price Volatility
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Environmental Concerns : Environmental concerns play a significant role in shaping the Global Monopropylene Glycol (MPG) Market, particularly due to its widespread use and potential impact on ecosystems. MPG, primarily derived from fossil fuel sources such as petroleum or natural gas, raises concerns related to carbon emissions and environmental sustainability. As a result, there is a growing emphasis on developing and adopting bio-based alternatives to traditional MPG, sourced from renewable biomass feedstocks like glycerol or biomass-derived sugars. These alternatives aim to mitigate the environmental footprint associated with MPG production and use.
The disposal and management of MPG waste products pose environmental challenges. Improper handling of MPG-containing waste streams can lead to soil and water contamination, affecting ecosystems and human health. Regulatory bodies worldwide impose strict guidelines on the disposal of chemical waste, including MPG, prompting industries to adopt advanced waste treatment technologies and sustainable practices to minimize environmental impact.
The global shift towards green chemistry and sustainable manufacturing practices encourages innovation in MPG production processes. Technologies such as catalytic conversion and bio-refining are explored to enhance MPG production efficiency while reducing energy consumption and greenhouse gas emissions. Sustainable sourcing practices for raw materials and efficient energy management throughout the MPG supply chain also contribute to addressing environmental concerns and promoting responsible stewardship of natural resources in the global MPG market.
Opportunities
- Sustainable Packaging
- Bio-based Alternatives
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Renewable Feedstocks : In the Global Monopropylene Glycol Market, there is a growing interest in renewable feedstocks as a sustainable source for production. Traditionally, Monopropylene Glycol (MPG) has been derived from fossil fuels through chemical processes. However, with increasing environmental awareness and regulatory pressures, there is a shift towards exploring renewable feedstocks such as bio-based glycerol and bioethanol. These renewable sources offer the potential to reduce the carbon footprint associated with MPG production and align with sustainability goals across various industries.
Bio-based glycerol, a co-product of biodiesel production, is gaining attention as a feedstock for MPG due to its abundance and relatively low cost compared to fossil-derived raw materials. Glycerol undergoes a series of chemical reactions to produce propylene glycol, the primary component of MPG. This process not only utilizes a renewable resource but also reduces dependence on finite fossil fuel reserves, contributing to a more sustainable supply chain for MPG.
Bioethanol, derived from renewable biomass sources such as sugarcane or corn, serves as another viable feedstock for MPG production. Ethanol can be converted into ethylene oxide, which is a key precursor in the synthesis of propylene glycol. By integrating bioethanol into the production process, manufacturers can achieve significant reductions in greenhouse gas emissions and promote a more circular economy approach to chemical manufacturing.
Competitive Landscape Analysis
Key players in Global Monopropylene Glycol Market include:
- 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.
- Oleon NV
- Repsol
- Foodchem International Corporation
- SKC Korea
- Sadara Chemical Company
- INEOS Group of Holdings S.A.
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Grade
- Market Snapshot, By Application
- Market Snapshot, By End Use
- Market Snapshot, By Region
- Global Monopropylene Glycol Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Versatile Applications
- Humectant Properties
- Non-Toxic Solvent
- Restraints
- Regulatory Compliance
- Price Volatility
- Environmental Concerns
- Opportunities
- Sustainable Packaging
- Bio-based Alternatives
- Renewable Feedstocks
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Monopropylene Glycol Market, By Grade, 2020 - 2030 (USD Million)
- Technical
- Food
- Pharmaceutical
- Global Monopropylene Glycol Market, By Application, 2020 - 2030 (USD Million)
- Unsaturated Polyester Resin (UPR)
- Polyester Fiber Production
- Food Additive
- Heat Transfer Fluid
- Pharmaceutical Solvent
- Liquid Detergent
- Paints & Coating
- Global Monopropylene Glycol Market, By End Use, 2020 - 2030 (USD Million)
- Chemicals
- Cosmetics & personal care
- Pharmaceutical
- Food & Beverage
- Others
- Global Monopropylene Glycol Market, By Geography, 2020 - 2030 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia/New Zealand
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Monopropylene Glycol Market, By Grade, 2020 - 2030 (USD Million)
- Competitive Landscape
- Company Profiles
- 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.
- Oleon NV
- Repsol
- Foodchem International Corporation
- SKC Korea
- Sadara Chemical Company
- INEOS Group of Holdings S.A.
- Company Profiles
- Analyst Views
- Future Outlook of the Market