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Propylene Glycol Ether Market Segmented By Propylene Glycol Mono Methyl Ether, Dipropylene Glycol Mono Methyl Ether, Tripropylene Glycol Mono Methyl Ether in Chemical intermediate, Solvent, Coalescing agent, Coatings
Propylene Glycol Ethers (PGE) are organic compounds produced from the reaction of propylene oxide and alcohols. Propylene glycol ethers are widely used in the paints & coating industry as solvents and for flow regulation and coalescence. These compounds are also used in electronic, coatings and pharmaceuticals, along with other industries, as a chemical intermediate, cleaner and solvent.
The global propylene glycol ether market is estimated to have been valued at US$ 1,604.1 Mn by 2017 end and is expected to reach US$ 2,088.4 Mn by the end of 2026 while expanding at a CAGR of 3.0% over the forecast period. The global propylene glycol ether market is anticipated to represent incremental opportunity worth US$ 484.5 Mn between 2018 and 2026.
Propylene glycol ether is gaining traction in the market owing to its superior properties, such as faster evaporation rate, high water solubility and solvency, for a variety of resins, including acrylic, polyesters, epoxies and polyurethanes. Propylene glycol ether is increasingly being accepted among end-user industries. Propylene glycol ethers are widely used in printing inks, coatings and cleaning applications. Moreover, propylene glycol ethers offer better viscosity reduction compared to heavier molecular weight glycol ethers.
They are also being used by resin manufacturers, coating formulators and coating applicators for the manufacturing of protective coatings for application in automotive, architecture and other industries. Further, owing to their lower toxicity and higher ecofriendly characteristics, end-users are increasingly preferring propylene glycol ether. Hence, increasing application and acceptance of propylene glycol ether & its acetates, among diverse end-user industries, is among the key driving factors responsible for the growth of the market in near future.
Propylene glycol ether finds application across diverse industry verticals for various applications. Each application requires specific properties and characteristics and hence, manufacturers have been focusing on improving the product mix and providing customized & tailored products according to customer-specific requirements. The electronic segment requires tailored products with particular properties and enhanced qualities. Hence, product differentiation and customization are expected to create new growth avenues in the market.
On the basis of application, the global propylene glycol ether market is segmented into chemical intermediate, solvents, coalescing agent, coatings, electronics and others. The electronics segment in the propylene glycol ether market is further divided into semiconductor and TFT-LCD. The chemical intermediate and solvent segments are collectively estimated to account for more than half of the overall propylene glycol ether market by the end of 2018.
The North America propylene glycol ether market accounted for a significant value & volume share in 2017 and is forecast to maintain its dominance in the global propylene glycol ether market over the forecast period. Top 7 countries in the global market are expected to account for around 60% of the global propylene glycol ether market share by the end of 2018. Top 3 countries in the Europe are expected to account for more than half of the European propylene glycol ether market share by the end of 2018.
Some of the market participants reported in this study of global propylene glycol ether market include LyondellBasell Industries Holdings N.V., Royal Dutch Shell plc, DowDuPont Inc., BASF SE, Eastman Chemical Company, Chang Chan Group, Manali Petrochemicals Limited, KH Neochem Co., Ltd, Shiny Chemical Industrial Company Limited, Jiangsu Baichuan High-tech New Materials Co., Ltd, Jiangsu Hualun Chemical Industry Co. Ltd. and Jiangsu Dynamic Chemical Co., Ltd. Prominent players involved in the global propylene glycol ether are focusing on expansion of their processing facilities to meet the ever-increasing demand and gain share in the market.
The report on the global propylene glycol ether market starts with executive summary and market introduction and provides a complete view of the market. This section includes propylene glycol ether market view point, value chain analysis and forecast factors impact analysis. The section that follows analyses the global propylene glycol ether market on the basis of segments and presents forecast for the period 2018-2026. The global propylene glycol ether market is segmented into:
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The last section of the report includes competitive landscape, which includes market share analysis and provides information and analysis of companies, based on categories of manufacturers and service providers across the value chain and their presence in the global propylene glycol ether market.