Propylene Glycol Methyl Ether Market: Exploring the Impact of Trends on Strategies of Key Players:BASF SE, Eastman Chemical Company, Royal Dutch Shell plc, LyondellBasell Industries N.V., DowDuPont Inc., Manali Petrochemicals Limited, Jiangsu Dynamic Chem
Propylene glycol methyl ether, also known as 1-methoxy-2-propanol, is a colorless organic chemical compound. Generally, Propylene glycol methyl ether is medium boiling glycol ether that is categorized under P-series glycol ether group. This compound is produced by the reaction between propylene oxide and methanol which is carried out in presence catalyst. Propylene glycol methyl ether are used prevalently as an organic solvent in commercial as well as industrial applications such as printing ink, chemical, agricultural, and automotive, among others. The physico-chemical properties of Propylene glycol methyl ether such as excellent solvent activity, high dilution ratio, medium evaporation rate, and readily biodegradable nature, among other owing to which it appears as suitable alternative for petroleum based solvents. Thereby, it leads to increase in demand for Propylene glycol methyl ether in several industries such as chemical, automotive and paint & coating is increased in order to support sustainability development.
Key Player: Some of the key player identified across the value chain of Propylene Glycol Methyl Ether market are; BASF SE, Eastman Chemical Company, Royal Dutch Shell plc, LyondellBasell Industries N.V., DowDuPont Inc., Manali Petrochemicals Limited, Jiangsu Dynamic Chemical Co., Ltd., Jiangsu Ruijia New Material Co., Ltd., Jiangsu Hualun Chemical,Industry Co., Ltd. Chang Chun Group, among others.
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Across the globe, shifting preference towards the use of biodegradable, sustainable and low VoC content paints & coating products in several end use industries such as automotive, printing ink, and Fabrication industry, among other owing to which demand for ecofriendly solvents is increased over the recent past. This rise in demand for ecofriendly solvent is major driving factor for the propylene glycol methyl ether market. Further, increasing demand for derivative products such as propylene glycol methyl ether acetate from several industries such as electronics, chemical and printing ink, among other that help to drive the market. Further, upsurge in demand for industrial, commercial, and household cleaners wherein propylene glycol methyl ether are prevalently used in formulation that in turn drive the market. Apart from this, fluctuating raw material prices may hamper the growth of propylene glycol methyl ether market. Moreover, significant growth of automotive industry coupled with increasing vehicle parc in developing region will in turn lead to drive the propylene glycol methyl ether market.
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Based on product type, global Propylene Glycol Methyl Ether market is segmented into;
PM (Propylene Glycol Mono Methyl Ether)
DPM (Dipropylene Glycol Mono Methyl Ether)
TPM (Tripropylene Glycol Mono Methyl Ether)
Based on application, global Propylene Glycol Methyl Ether market is segmented into;
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Over the recent past, there has been a significant growth in demand for the propylene glycol methyl ether in developed region especially in EU-5 Countries. In terms of production and consumption, Europe accounts significant share of the global market. This is mainly attributed to raising demand for ecofriendly and bio-based chemicals from several end use industries coupled with stringent government regulation and policies in Europe to promote sustainability development. Moreover, Europe followed by North America, dominates the global propylene glycol methyl ether market and are expected to register steady growth over the forecast period. Moreover, in Asia pacific region, manufacturers are focusing on expansion of production facility in order to cater raising demand for propylene glycol methyl etherand to enhance their footprint in the global market. In terms of production capacity and consumption, China is expected to dominate the global market by the end of initial phase of forecast period. Moreover, China, Taiwan and South Korea are expected to dominate the APAC propylene glycol methyl ethermarket owing to significant demand from electronic and semiconductor industry in these countries. It is expected that China propylene glycol methyl ether market will register healthy growth over the forecast period. Further, Latin America and Middle East & Africa are expected to register steady growth over the forecast period.
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