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Monopropylene Glycol Market Size (2024 - 2029)

The monopropylene glycol market is experiencing a recovery and is poised for growth, driven by increasing demand in the aviation, automotive, and pharmaceutical sectors. Despite challenges posed by the COVID-19 pandemic, which disrupted production and supply chains, the market is regaining its footing. However, concerns regarding the side effects of monopropylene glycol in medical applications are impeding its expansion. The Asia-Pacific region is anticipated to lead in market size and growth rate during the forecast period.

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Market Size of Monopropylene Glycol Industry

Monopropylene Glycol Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR < 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

Monopropylene Glycol Market Key players

*Disclaimer: Major Players sorted in no particular order

Monopropylene Glycol Market Analysis

The global mono propylene glycol market is projected to register a CAGR of over 5% during the forecast period (2022-2027).

The COVID-19 pandemic has affected the Monopropylene Glycol market in various ways, such as production halt, piling of stocks, blockage in the supply chain, and others. However, the situation has again returned to normal, and the market is recovering its losses and will be restored.

  • Over the short term, increasing demand for mono propylene glycol in the aviation, automotive, and pharmaceutical industries is expected to drive the market.
  • On the flip side, the side effects of using mono propylene in medicine are hindering the market's growth.
  • The Asia-Pacific region is expected to dominate the market and will also witness the highest CAGR during the forecast period.

Monopropylene Glycol Industry Segmentation

Monopropylene glycol (MPG) is a clear, colorless, and viscous liquid with a characteristic odor and has the formula C3H8O2. It is obtained by hydrating the propylene oxide. There are now two production methods in use: catalytic and non-catalytic. It is used in various industries from cosmetics, pharmaceuticals, agriculture, food, and others. The mono propylene glycol market is segmented by grade, end-user industry, and geography. By grade, the market is segmented into USP grade, technical grade, and feed grade. By applications (polyester resins, functional fluids, human food/pharmaceuticals/cosmetics, liquid detergents, and others). The report also covers the market size and forecasts for the mono propylene glycol market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilo tons).

Grade
USP Grade
Technical Grade
Feed Grade
Applications
Polyester Resins
Functional Fluids
Human Food/Pharmaceuticals/Cosmetics
Liquid Detergents
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Monopropylene Glycol Market Size Summary

The Monopropylene Glycol (MPG) market is poised for significant growth, driven by its increasing application in various industries such as aviation, automotive, and pharmaceuticals. Despite challenges posed by the COVID-19 pandemic, including production halts and supply chain disruptions, the market is on a recovery path. MPG's unique properties, such as being colorless, viscous, and highly hygroscopic, make it a valuable component in the production of unsaturated polyester resins. These resins are extensively used in the construction industry for manufacturing building materials, which are in high demand due to infrastructure development, particularly in regions like Asia-Pacific. The region is expected to dominate the market, with China and India playing pivotal roles in its expansion due to their rapidly growing economies and industries.

The Asia-Pacific region, with its robust industrial base, is anticipated to lead the Monopropylene Glycol market during the forecast period. The region's burgeoning food and pharmaceutical industries, along with a thriving personal care sector, contribute significantly to the demand for MPG. In addition, the automotive industry's growth in the Asia-Oceania area further bolsters market prospects. The market is characterized by a consolidated structure, with major players like BASF, Shell plc, Dow, and LyondellBasell Industries Holdings B.V. actively participating. Recent collaborations, such as those between Braskem and Sojitz Corporation, and MOL and HELM, highlight ongoing efforts to expand MPG production and marketing, underscoring the market's dynamic nature and potential for continued growth.

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Monopropylene Glycol Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand in Aviation and Automotive Sector

      2. 1.1.2 Rising Demand in Pharmaceutical Industry

    2. 1.2 Restraints

      1. 1.2.1 Side Effects of MPG

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Grade

      1. 2.1.1 USP Grade

      2. 2.1.2 Technical Grade

      3. 2.1.3 Feed Grade

    2. 2.2 Applications

      1. 2.2.1 Polyester Resins

      2. 2.2.2 Functional Fluids

      3. 2.2.3 Human Food/Pharmaceuticals/Cosmetics

      4. 2.2.4 Liquid Detergents

      5. 2.2.5 Others

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Monopropylene Glycol Market Size FAQs

The Monopropylene Glycol Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)

BASF, Shell plc, DOW, LyondellBasell Industries Holdings B.V and INEOS are the major companies operating in the Monopropylene Glycol Market.

Monopropylene Glycol Market Report Snapshots

Monopropylene Glycol Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)