Mono Propylene Glycol Market to Reach US$ 5 Bn by 2029; Growth Hurt by Coronavirus, Owing to Tight Credit Lines and Vulnerable Workforce – Future Market Insights

Mono propylene glycol market players are expected to focus resources on the optimization of production lines to leverage widespread manufacturing applications, following the end of the covid-19 outbreak.

DUBAI, UAE / ACCESSWIRE / July 27, 2020 / Future Market Insightsi: With the rapid spread of the coronavirus contagion, the mono propylene glycol market can potentially be slammed by the pandemic in multiple areas. Issues of liquidity and health risk for the workforce are primary concerns during the crisis period. In addition, the decline in activities of multiple end user verticals, coupled with disruptions to supply chains and operations is hurting demand and productivity in the short term.

“Supplies of mono propylene glycol have largely remained unaffected in Asian markets, despite disruptions in other parts of the world. Higher Chinese imports and moderate weakening of downstream demand have influenced market activity in the region,” says the FMI analyst.

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Mono Propylene Glycol – Primary Takeaways

Automotive and HVAC sector applications of mono propylene glycol are key to revenues business sustainability and localization trends in these sectors.
Asia Pacific is rapidly becoming a leading producer of mono propylene glycol with China, Taiwan, and India witnessing an influx of major manufacturing facilities from American and European players.

Mono Propylene Glycols – Growth Factors

Strong demand for safer and eco-friendly alternative to ethylene glycol in manufacturing verticals is supporting demand.
Diverse scope of application in HVAC, automotive, textile, and food & beverage sectors sustain market developments.
Hygroscopic and low-toxicity properties of mono propylene glycol is increasing adoption rates.

Mono Propylene Glycol – Major Constraints

Strict regulations from regulators such as the FDA and EPA on the storage and transport of mono propylene glycol is a hinderance to the market.
Volatility associated to the prices of raw materials required to produce mono propylene glycol holds back market growth.

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The Projected Impact of Coronavirus

The mono propylene glycol is likely to remain curtailed for the duration of the pandemic, owing to reduced downstream demand. In addition, fears over a new wave of the contagion will slow down recovery. Delays of construction and de-icing project applications will also hurt market growth. On the other hand, demand for food and pharmaceutical grade product will help to partially mitigate the downturn.

Competition Landscape

The mono propylene glycol market comprises players including but not limited to Sadara Chemical Co., Royal Dutch Shell plc, Repsol, Dow Chemical Co., and Huntsman Corp. Market players are increasingly seen seeking production capacity expansions as a way to consolidate market positions in new regions. For instance, Avantium has started the construction of a new production facility for mono propylene glycol in the Netherlands at Chemie Park Delfzijl. Similarly, Sadara Chemical Co. has initiated mono propylene glycol production at a new plant in Saudi Arabia’s Jubail Industrial City. Also, Helsinki based Valchem has initiated a project for the production of bio-based mono propylene glycol in collaboration with Technische Universität Darmstadt, Sekab, and METabolic Explorer.

More About the Study

The FMI study provides detailed insights on mono propylene glycols. The market is broken down in terms of grade (technical, food, and pharmaceutical), application (unsaturated polyester resin, polyester fiber production, food additive, heat transfer fluid, pharmaceutical solvent, liquid detergent, paints & coating, and others), end use (chemicals, cosmetics & personal care, pharmaceuticals, food & beverage, and others) and source (synthetic and bio-based) across seven key regions (North America, Latin America, Europe, South Asia & Pacific, East Asia, Middle East, and Africa).

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