Mono propylene glycol (MPG) keeps finding utility across various industries, at the lower back of its low toxicity and hygroscopic residences. A current Future Market Insights (FMI) have a look at indicates that the global mono propylene market cost will reach beyond the US $ 5 Bn closer to the cease of 2029, witnessing a mild CAGR in the course of the forecast duration (2022 – 2029). The environmental sustainability of bio-based mono propylene glycol will be notably responsible for upholding its call for inside the global market over the direction of the following years.
Manufacturers Moving towards Bio-based Mono Propylene Glycol
Bio-primarily based mono propylene glycol is gaining a reputation in the market, as a transfer from petrochemical- to renewable-based MPG consequences inside the reduction of climate alternate impact of 40-60% kg of CO2. Several nations are taking projects to increase the adoption of bio-based mono propylene glycol amongst various end-use industries due to its sizeable environmental benefits.
Key Companies Profiled
- BASF SE
- 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
- Foodchem International Corporation
- SKC Korea
- Sadara Chemical Company
- INEOS Group of Holdings S.A.
Learn More about Report Inclusions
The studies file analyzes the general income of mono propylene glycols on the premise of quantity (KT) and price (US$ Mn). The record includes an opposition analysis section that includes market shape analysis, tier shape evaluation, opposition improvement, and other vital facts about international and regional players inside the market. Possibilities in the market are projected on the premise of things consisting of construction industry boom, food industry outlook, pharmaceutical industry evaluation, investments in upcoming infrastructure initiatives, and enlargement in manufacturing ability using worldwide producers.
The market is mainly driven by using the give up use industry inclusive of the food & beverage, cosmetics & private care industry market. Because of the covid-19 pandemic, all the industries have suffered and witnessed a downfall, but in the coming years, the market is anticipated to witness substantial growth because of the boom in intake from ceasing use industries.