Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Product Overview
Monopropylene glycol is a colorless and odorless compound which is generally known as propane-1, 2-diol. It is an artificial organic compound and a derivative of propylene oxide. The low toxicity of the monopropylene glycol enables its use in different end user industries. Monopropylene glycol is used in the antifreezes, industrial coolants and others. The food grade monopropylene glycol is used in the food industry as food coloring and food additives. The other primary use of the monopropylene is in paints and varnishes such as bath tubs and small boats. It also used as liquid engine coolants. The increasing use of the monopropylene glycol for various end-use industries is anticipated to drive the monopropylene glycol market.
Market Size and Forecast
The global monopropylene glycol market is anticipated to expand at a significant CAGR during 2018-2027. The extensive application of the monopropylene glycol by various end-use industries is anticipated to expand the market growth of the global monopropylene glycol market during the forecast period. The global monopropylene glycol market can be segmented on the basis of grade, production method, end-use industries and region. On the basis of grade, it is sub-segmented into food grade and industrial grade. Industrial grade is anticipated to be the largest sub-segment of the grade segment. The increasing application of the industrial grade of the monopropylene glycol by the various end-use industries is anticipated to be the primary reason for the sub-segment to lead the segment. Industrial grade of the monopropylene glycol is used in the manufacturing of unsaturated polyester which is used to make industrial items. On the basis of production method, it is sub-segmented into catalytic and non-catalytic. On the basis of end-use industries, it is sub segmented into paints & coatings, chemical, pharmaceutical, food industry, cosmetics & personal care and aerospace. Food industry is anticipated to be the leading sub-segment in the end-use industries. The increasing use of the monopropylene glycol as food additives for food flavoring and coloring is anticipated to be the primary reason for the food industry sub-segment to lead the end-use segment.
By region, global monopropylene glycol market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to be the leading region for the global monopropylene glycol market. The increasing use of the monopropylene glycol in different end-use industries such as food industry, pharmaceutical industry is anticipated to be the primary reason for region to lead the global monopropylene glycol market. Asia-Pacific region is anticipated to be the fastest developing region for the global monopropylene glycol market. This is attributed to the increasing industrialization which leads to the expansion of the various end-use industries such as pharmaceutical, food industry and cosmetics & personal care.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the global monopropylene glycol market in the following segments:
By Grade:
By Production Method:
By End-Use industries:
By Region
Global monopropylene glycol market is further classified on the basis of region as follows:
Growth Drivers and Challenges
The increasing expansion of the food and beverage industry across the globe is leading to extensive application of the monopropylene glycol which is anticipated to be the major growth driver for the global monopropylene glycol market. Additionally, the increasing expansion of the automotive industry across the various developing region is driving the market growth of the monopropylene glycol globally. Moreover, the growing population leads to rising demand for the food and beverage which in turn expected to propel the demand for the monopropylene glycol.
However, the storage and transportation issues related to monopropylene glycol as it requires transportation system to be fortified with drying devices. This is predicted to hinder the growth of the global monopropylene glycol market throughout the forecast period.
Key Players
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