Polypropylene Glycol Market (5.25% CAGR) 2030: Global Ind …
(MENAFN- ChemAnalysts) According to ChemAnalyst Report, “Analysis of Polypropylene Glycol Market: Plant Capacity, Production, Operational Efficiency, Technology, Demand and Supply, End User Industries, Distribution Channel, Regional Demand, 2015-2030 “. The global polypropylene glycol market has seen demand of around 1.64 million in 2020 and is expected to grow at a significant rate with a healthy CAGR of 5.25% through 2030 attributed to the wide range of applications of polypropylene glycol and its derivatives in various end-use industries such as cosmetics & personal care, food and beverage, pharmaceuticals, building and construction and automotive, and others.
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Polypropylene glycol is a polymer of propylene glycol also known as polypropylene oxide. Polypropylene is a polyether and produced by adding propylene oxide to 1,2 propylene glycol at an extreme temperature as well as a pressure ranging from 2000 to 6000 hPa in the presence of an alkaline catalyst. It is an odorless and colorless liquid with medium viscosity, low volatility and toxicity. PPG is hygroscopic in nature and is soluble in water with other solvents such as chloroform and acetone. With increasing molecular weight, its solubility in water rapidly decreases and viscosity increases. Based on their molecular weight, polypropylene glycol is segmented into different grades such as grades PPG-1000, PPG-2000, PPG-3000, PPG-4000 and PPG-6000 and its applications vary depending on molecular weight.
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The versatile properties of polypropylene glycol include low density, chemical resistance, high moldability and tensile strength, low moisture absorption, excellent lubricity, high melting point, light weight, can be dyed easily and inexpensively. Due to these properties, it finds several applications in the aforementioned end-use industries as additives, chemical intermediates, solvents, wetting agents, dispersants, surfactants, lubricants, adhesives, humectants, antifoaming agents, antifreeze agents, hydraulic fluids. , low heat transfer fluids, etc. In addition, polypropylene is widely used in the production of polyurethanes which are also used as foams, coatings, adhesives, composite wood panels, rollers and tires, etc. It also acts as a cosolvent in water-based paints and an intermediate in the production of varnishes, latex paints and alkyd resins. In addition, its use in the automotive industry in the production of engine coolants, heat transfer fluids, fire-resistant brakes, hydraulic fluids as well as its use as a raw material in the manufacture of aircraft de-icing fluids. should stimulate its market in the years to come.
Apart from these applications, polypropylene glycol is widely used in cosmetics as a humectant in cosmetic products to increase moisture retention in skin and hair. It is this property of retaining moisture which is also used in the pharmaceutical and food industry. It is also used in pulp and paper processing as well as in theatrical productions and firefighting training to create man-made smoke or fog. In the textile industry, PPGs are used as flexible fibers for the manufacture of carpet backing, backing and tapes. In the food and beverage industry, it is used to enhance the flavors and aroma of food products. Being the derivative of petrochemicals, the price of polypropylene glycol fluctuates with the fluctuation of petrochemical prices. In addition, major manufacturers are now focusing on the production of bio-based PPG which is likely to help reduce the carbon footprint as well as lead to the sustainability of its prices.
In the first half of 2020, the unprecedented spread of COVID-19 across the world caused nationwide lockdowns and disruptions in demand and the supply chain that directly impacted several industries. During the pandemic, a decline in demand for polypropylene glycol was observed due to the slowdown in manufacturing and sales of various end-use industries. In addition, the slum in the auto and construction sector also affected the PPG market in the midst of the crisis. However, there has been an increase in demand for PPG due to its application as a disinfectant for the production of disinfectants as well as liquid cleaners due to growing hygiene concerns amid pandemics. In addition, after the exemption from trade restrictions and the resumption of industrial operations in the second half of 2020, the demand for polypropylene glycol has been quickly recovered due to strong demand from end-use industries and is expected to increase the demand for polypropylene glycol. in the years to come.
Looking to the region, Asia-Pacific accounts for the bulk of the polypropylene glycol market and is expected to increase during 2030 due to various urbanization factors, a large consumer base, and thriving industries such as automotive, food and beverage, building and construction, and pharmaceuticals. In the region. Moreover, China is the giant manufacturer of products involving polypropylene glycol such as resins, plasticizers, chemicals, auto parts, inks, paints, personal care products, etc.
According to the ChemAnalyst report, “Analysis of Polypropylene Glycol Market: Plant Capacity, Production, Operating Efficiency, Technology, Demand and Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030,” Major polypropylene glycol players in the world include Mitsui Chemical, The Dow Chemical Company, Kumho Petrochemical Ltd., DuPont Inc., BASF SE, Dow, AGC Inc., Ineos Group Ltd., Shell Plc., Covestro AG, Huntsman Corporation, LyondellBasell Industries NV, Sanyo Chemical, Archer Daniels Midland Company, Jiangsu Haian Petrochemical, SKC Co., Ltd, Zhejiang Huangma, Zibo Yunchuan Chemical, Sungda Chemical and others.
“Polypropylene glycol and its derivatives such as PEG, alkyd resins, plasticizers, etc. have a wide range of applications in many industries. Higher molecular weight PPGs are used in cosmetics. Hence, the growth of the skin care and cosmetics industry is expected to boost its market in the coming years. In addition, the rapidly growing construction and automotive industry is expected to drive the demand for polypropylene glycol in the coming years as it is used to make latex paints, emulsions, coatings, varnishes, lubricants, adhesives, coolants, hydraulic fluids, polyurethanes, etc. widely used in construction and automotive industries. In addition, its use in the food and beverage industry as well as in pharmaceutical products as a humectant and solvents is likely to propel its demand in the years to come. Due to growing environmental concerns, giant manufacturers are focusing on switching from petrochemical based polypropylene glycol to bio-based polypropylene glycol which would provide potential opportunities for polypropylene glycol market size expansion during the forecast period. Said Mr. Karan Chechi, Research Director at TechSci Research, a global research-based management consultancy that promotes ChemAnalyst.
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