NEW YORK, August 21, 2018 /PRNewswire/ --
The global propylene glycol ether market is estimated to have been valued at US$ 1,604.1 Mn by 2017 end and is expected to reach US$ 2,088.4 Mn by the end of 2026 while expanding at a CAGR of 3.0% over the forecast period.
Used in printing inks, coatings, cleaning applications, and for flow regulation and coalescence propylene glycol ether is estimated to be getting significant traction in several end-use industries owing to its superior qualities. Propylene Glycol Ethers (PGE) are organic compounds produced from the reaction of propylene oxide and alcohols and are being used by resin manufacturers, coating formulators and coating applicators for the manufacturing of protective coatings for application in automotive, architecture and other industries.
Persistence Market Research (PMR) recently studied the global Propylene Glycol Ethers market, with long term outlook expected to remain positive over the forecast period of 2018-2026. Sales of propylene glycol ether in the global market is anticipated to stand at US$ 2,088.4 Mn by 2026 end, expanding at a slow-moving CAGR of 3.0% during the forecast period (2018 - 2026). The report delivers an exhaustive understanding of the key dynamics of the global propylene glycol ether market and the trends, drivers, and challenges shaping the market. PMR has also analyzed the worldwide demand and supply scenario of propylene glycol ether.
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Moreover, superior physical properties like better viscosity reduction compared to glycol ethers with heavier molecular weight and effectiveness as solvents are some key factors responsible for notable adoption of propylene glycol ether in the coming years, especially in pesticides, inks, pigments, pharmaceuticals detergents, agrochemicals, food processing and many more applications. In terms of application, propylene glycol ether is expected to be mostly used in the chemical intermediate segment, followed by solvents during the forecast period. The North America propylene glycol ether market is expected to dominate the global market through 2026, occupying a significant market share, in terms of volume and value.
"However, certain factors have been universally responsible for the slow-moving growth of the global propylene glycol ethers market. PGE requires safe production and handling as it highly inflammable with low flash points of 30 °C. Issues pertaining to transportation and storage could hinder PGE adoption. However, most importantly, the supply and demand gap of PGE has been rather skewed, creating an upward pressure on the price in the propylene glycol ether market. This pricing pressure could have an impact on other PGE producers, hampering the overall global propylene glycol ethers market in the near future", Principal Analyst, Chemicals Industry, Persistence Market Research
Propylene Glycol Ether Market Segmentation By Product Type - Propylene Glycol Mono Methyl Ether (PM), Dipropylene Glycol Mono Methyl Ether (DPM), Tripropylene Glycol Mono Methyl Ether (TPM); Application - Chemical intermediate, Solvent, Coalescing agent, Coatings, Electronics ( Semiconductor, TFT-LCD), Others
Electronics, Automotive, and Agrochemical Industries to Report Accelerated Adoption of Propylene Glycol Ethers
Swiftly rising demand for industrial and consumer electronic products is anticipated to fuel the demand for propylene glycol ether in the global market. Propylene glycol ether is required for manufacturing and maintenance of electronic components as PGE coatings gives high insulation resistance characteristics to computers, circuit boards, smart-phones, networking devices, consumer electronics and appliances, and displays.
Moreover, the automotive industry is increasingly leveraging the advancements in electronics technology to enhance the overall driving performance, fuel efficiency, and driver safety. Since, most components in the automobiles are being transformed for mechanical to electronic systems like those present in radio, anti-lock brakes, music systems and telematics, the demand for propylene glycol ether in the automotive industry is expected to increase during the forecast period. Advent of Advanced Printed Circuit Boards (PCBs) and connected devices are expected to drive the global propylene glycol ether market.
Additionally, owing to its non-toxic nature and efficient solvent properties, propylene glycol ethers are slated to find increased adoption in organic farming and formulations of agrochemicals such as pesticides, respectively.
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Key Players Focusing on Propylene Glycol Ether Production Expansion to Address Skewed Supply-Demand
Owing to increasing industrialization, China & SEA&P are expected to present lucrative growth opportunity to the key players in the propylene glycol ether market. Moreover, key players in the global propylene glycol ether market including LyondellBasell Industries Holdings N.V., Royal Dutch Shell plc, DowDuPont Inc., BASF SE, Eastman Chemical Company, Chang Chan Group, Manali Petrochemicals Limited, and KH Neochem Co., Ltd, are focusing on production expansion of their processing facilities to meet the ever-increasing demand of PGE from the end-use industries. Globally, major key players in the PGE market are expected to provide strength to their value chain through downstream production.
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