Press release
Surge in Food and Beverage Industry Drives Mono Propylene Glycol Market Growth to USD 6,800 million in 2035
Mono Propylene Glycol Market
Monopropylene can be found in paints & varnishes, baths, and as a cooling fluid in autos. The growing usage of mono propylene glycol across a variety of end-use sectors, such as the chemical industry, pharmaceuticals, cosmetic goods, and others, is expected to drive the market.
The global food and beverage sector is driving demand for mono propylene glycol for usage in food flavoring, food coloring, preservation of food, and other applications, hence influencing the mono propylene glycol market volume.
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Asia-Pacific, particularly China, is a major consumer and producer of mono propylene glycol. The growing industrialization and financial development of the region are driving up demand for mono propylene glycol.
Mono propylene glycol is an important component of automobile antifreeze and coolants, as it keeps the engine temperature stable. The need for mono propylene glycol in automobiles has expanded as the automotive sector grows, particularly in the electric vehicle (EV) segment.
Concerns about ecological sustainability have prompted the advancement of bio-based mono propylene glycol generated from natural resources such as corn, sugarcane, or soy. This tendency is consistent with the larger trend towards sustainable alternatives and lessens dependency on fossil fuels.
Key Takeaways
- Between 2025 and 2035, the demand for mono propylene glycol increased at a 5.0% CAGR.
- The United States reflecting a compound annual growth rate (CAGR) of 4.7% over the forecast period.
- The mono propylene glycol market in South Korea is expected CAGR of 4.6%.
- The mono propylene glycol market in the United Kingdom is expected to expand CAGR of 4.3% by 2035.
"The mono propylene glycol market is expected to increase steadily from 2025 to 2035, owing to a wide range of applications. Demand is expected to climb steadily, driven by increased application in the food, pharmaceutical, cosmetic, and automotive industries. Because of environmental concerns, the use of bio-based mono propylene glycol may increase." says FMI analyst.
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Competitive Landscape
Manufacturers' focus has shifted towards emerging countries in recent years to meet rising demand for mono propylene glycol. Several major corporations are also focusing on collaborations, expanding manufacturing capacities, mergers and acquisitions, and increasing R&D spending.
In March 2022, Braskem and Sojitz Corporation partnered to develop and market bioMPG (monopropylene glycol).
Beginning in April 2022, MOL and HELM teamed up on the marketing of propylene glycols in Western Europe and global markets. The product line will include technical along with higher-value-added monopropylene glycol and dipropylene glycol grades.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global mono propylene glycol market, presenting a historical analysis from 2020 to 2024 and forecast statistics between 2025 and 2035.
The study reveals essential insights By Grade (Technical, Food, Pharmaceutical), Application (Unsaturated Polyester Resin (UPR), Polyester Fiber Production, Food Additive, Heat Transfer Fluid (Engine coolant, De-icing Fluids, Antifreeze Solutions), Pharmaceutical Solvents, Liquid Detergents, Paints & Coatings, Other Industrial), End Use (Chemicals, Cosmetics & personal care, Pharmaceutical, Food & Beverage, Others), Source (Synthetic, Bio-based), and Region.
Hydrocarbons, Petrochemicals, and Organic Chemicals: https://www.futuremarketinsights.com/industry-analysis/hydrocarbons-petrochemicals-and-organic-chemicals
Mono Propylene Glycol Market by Category
By Grade:
- Technical
- Food
- Pharmaceutical
By Application:
- Unsaturated Polyester Resin (UPR)
- Polyester Fiber Production
- Food Additive
- Heat Transfer Fluid
- Engine coolant
- De-icing Fluids
- Antifreeze Solutions
- Pharmaceutical Solvents
- Liquid Detergents
- Paints & Coatings
- Other Industrial
By End Use:
- Chemicals
- Cosmetics & personal care
- Pharmaceutical
- Food & Beverage
- Others
By Source:
- Synthetic
- Bio-based
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Browse Complete Research: https://www.globenewswire.com/en/news-release/2022/02/03/2378682/0/en/Mono-Propylene-Glycol-Market-is-reaching-a-valuation-of-US-5-159-5-Million-by-2029-Comprehensive-Research-Report-by-FMI.html
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