The global propylene glycol ethers market is forecast to reach USD 6,665.1 Million by 2028, according to a new report by Reports and Data. The Propylene Glycol Ethers is a colorless, volatile, water soluble industrial and commercial chemical and p-series glycol ether, produced from the formulation of propylene oxide and alcohol. Paints, inks, synthetic resin, varnishes, and rubber adhesives are some of its chemical applications. The continuous expansion of the paint coatings, varnishes, dyes, inks, toners, anti-freezers and coolants are expected to drive the demand throughout the forecast period. Direct Intermediate solvent, chemical reagent, coalescing agent, and other processing aids are some of its widely used end-usages. Growing demand for consumer electronic products are harnessing the growth of this market substantially.
Asia Pacific region is forecasted to grow fastest with the highest growth rate of 6.4% in the period 2019 - 2027, owing to high market penetration in paints coatings and electronics applications coupled with the extensive demand for the automotive coolants, especially in regions like India and China.
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Further key findings from the report suggest
- Propylene glycol ether is used as a direct solvent and are widely used in the chemical formulations of various compound. Industrial cleaner, toner and coating solvents of electronics appliances, and anti-freezing agents in the engine are some of its end-use applications. The direct solvent is forecasted to reach a market share of 34.5% by 2027 growing with a rate of 6.3% during the period 2019 – 2027.
- Chemical intermediate segment is measured to gain a market revenue of USD 186.9 Billion by 2027 and the CAGR is forecasted to be 5.5% in the forecast period. Propylene glycol ethers is utilized as the chemical intermediate in the processing of Propylene glycol monomethyl ether (PM), Dipropylene glycol monomethyl ether (DPM), Tripropylene glycol monomethyl ether (TPM), and others.
- Growing penetration of the online retailing businesses for the chemicals and materials especially in the emerging nations in Asia Pacific, are helping the market grow broadening the outreach in the areas where the offline vendors are unavailable. Also non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2027.
- Europe would reach a market share of 20.5% by 2027 and would grow at a CAGR of 5.0% in the forecast period. Germany has the highest number of valuable players in this region, while Western Europe has the highest market in Europe.
- North America is forecasted to witness a significant growth in the overall market, with 25.7% of market possession by 2027 and a CAGR of 6.1% during the forecast period.
- Key participants include The Dow Chemical Company, Royal Dutch Shell PLC, Eastman Chemical Company, BASF SE, Manali Petrochemicals Limited, LCY Chemical Corp., OXEA GmbH, JXTG Holdings, Inc., LG Chem Ltd., Sasol Limited, and ISU Chemical.
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For the purpose of this report, Reports and Data have segmented the global Propylene Glycol Ethers market on the basis of the end-use, sales channel, applications, and region:
- Direct Solvent
- Chemical Intermediate
- Coalescing Agent
- Chemical Reagents
Sales Channel Outlook
- Online Retailing
- Offline Retailing
- Industrial Use
- Paints and Coatings
- Electronics Industry
- Automotive Use
- North America
- Asia Pacific
- Latin America
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