Monopropylene Glycol Market - Forecast(2024 - 2030)

Report Code: CMR 0812 Report Format: PDF + Excel

Monopropylene Glycol Market Overview

The Monopropylene Glycol Market size is estimated to reach more than US$4.2 billion by 2027, after growing at a CAGR of 4.6% during the forecast period 2022-2027. Monopropylene Glycol is a clear and viscous liquid, which is obtained by hydrating the propylene oxide and is miscible in water and other liquids including acetone or chloroform. Monopropylene glycol has a high demand for utilization as polyester resins, shampoos, paints, solvents, varnishes, anti-freezing agents and others. The surging demand for monopropylene glycol in the food processing sector for pigments, additives and flavoring, acts as a driving factor in the monopropylene glycol industry. According to the National Bureau of Statistics of China, China's national food industry made a total profit showing an increase of 5.5% year-on-year from January to December 2021. In addition, increasing utilization of bio-based sources across major industries is fuelling its growth scope. Further, the major disruption caused by the covid-19 outbreak impacted the growth of the Monopropylene Glycol Market due to disturbance in manufacturing, supply chain disruption, falling demand from major end-use industries and other lockdown restrictions. However, significant recovery is boosting the demand for monopropylene glycol for a wide range of applicability and utilization in food & beverage, construction, cosmetics and other sectors. Thus, the monopropylene glycol industry is anticipated to grow rapidly and contribute to the Monopropylene Glycol Market size during the forecast period.

Monopropylene Glycol Market Report Coverage

The “Monopropylene Glycol Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Monopropylene Glycol Industry.

By Source: Synthetic and Bio-based.
By Grade: Food Grade and Technical Grade.
By Application: Food Pigment, Antifreezers, Industrial Coolants, Additive, Paints & Coatings, Liquid Detergents, Hand Sanitizers, Building Panels and Others.
By End-use Industry: Automotive (Passenger Vehicles [PVs], Light Commercial Vehicles [LCVs] and Heavy Commercial Vehicles [HCVs]), Food & Beverage, Medical & Pharmaceutical, Building & Construction (Residential, Industrial, Commercial and Infrastructural), Cosmetic & Personal Care (Skin Care, Hair Care, Nail Care and Others), Chemicals and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle-East (Saudi Arabia, UAE, Israel and Rest of the Middle-East) and Africa (South Africa, Nigeria and Rest of Africa)].

Key Takeaways

  • Asia Pacific dominates the Monopropylene Glycol Market, owing to growth factors such as the flourished base for the food & beverage sector, flourishing construction projects, growing personal care base and fast-paced industrialization, thereby boosting growth in this region.
  • The flourishing food & beverage industry sector across the world is propelling the demand for monopropylene glycol for major utilization in food flavoring, food pigment, food preservation and others, thereby influencing the growth in the Monopropylene Glycol Market size. According to the Food & Drink Federation, the output from the food industry in the UK accounted for US$30 billion in 2021, marking a rise of 4.2% over the previous year.
  • The hazardous impacts associated with monopropylene glycol act as a challenging factor in the Monopropylene Glycol industry.

Figure: Monopropylene Glycol Market Revenue Share by Geography, 2021 (%)
Monopropylene Glycol Market
For More Details on This Report - Request for Sample

Monopropylene Glycol Market Segment Analysis – by Source

The bio-based segment held a significant Monopropylene Glycol Market share in 2021 and is projected to grow at a CAGR of 5.2% during the forecast period 2022-2027. The bio-based type has growing demand over the synthetic source type due to its renewability and preference over petroleum-based sources. Further, the utilization of bio-based sourced monopropylene glycol due to the scarcity of fossil-based sources and demand for biodegradable MPG is propelling the growth scope across major end-use industries. Thus, with flourished base for renewable and bio-based MPG, the bio-based source type segment is anticipated to grow rapidly in the Monopropylene Glycol Market over the forecast period.

Monopropylene Glycol Market Segment Analysis – by Application

The paints & coatings segment held a significant Monopropylene Glycol Market share in 2021 and is expected to grow at a CAGR of 4.1% during the forecast period 2022-2027. The building & construction sector is significantly growing owing to growth factors such as rising residential housing projects, infrastructural development and industrialization. According to Oxford Economics, the global construction output in 2020 accounted for US$ 10.7 trillion and is projected to grow by 42% to reach USD 15.2 trillion between 2020 and 2030. With the flourished base for the building & construction sector, the applicability of paints & coatings in building structures, polyester resin, composites, pipes and others is projected to rise, which, in turn, is anticipated to boost the growth scope for paints & coatings application in the Monopropylene Glycol Market over the forecast period.

Monopropylene Glycol Market Segment Analysis – by Geography

Asia-Pacific held the largest Monopropylene Glycol Market share in 2021 up to 39%. The lucrative growth scope for monopropylene glycol in this region is influenced by the rise food sector, flourishing base for construction activities, growing cosmetic & personal care industry and urbanization. The food & beverage industry is rapidly growing in APAC owing to growth factors such as high consumption of ready-to-eat food items, growth of retail food outlets and urbanization. According to the India Brand Equity Foundation (IBEF), the food processing sector in India is expected to reach US$535 billion by the year 2025-26. According to the China Chain Store & Franchise Association, the food & beverage industry in China reached US$595 billion in the year 2019, marking a 7.8% growth over the previous year. With the robust scope for the food & beverage sector, the utilization of monopropylene glycol and others is rising, which, in turn, is projected to boost its growth prospects in the North American region during the forecast period.

Monopropylene Glycol Market Drivers

Bolstering Growth of Cosmetics & Personal Care Industry :

Monopropylene Glycol, obtained through propylene oxide, has growing application in the cosmetics & personal care sector for moisturizers, solvents, shampoos, bubble baths, beauty products and others. The cosmetic & personal care sector is significantly growing owing to factors such as the rise in luxury and premium beauty production, the presence of large cosmetic manufacturers, demand for color cosmetics and lifestyle trends. According to the L’OREAL Annual Report 2021, the beauty sector of L’OREAL rose by 8.2% in the year 2021, after a sharp decline of 8% in 2020. According to the International Trade Administration (ITA), the beauty and personal care sector in Thailand increased from US$6.2 billion in 2018 to US$8.0 billion in 2022, marking a projected growth rate of 7.8% from 2019 to 2022. With the robust expansion of beauty and personal care products, the applicability of MPG in moisturizers, shampoos and others is rising, thereby driving the monopropylene glycol industry.

Flourishing Growth of the Food & Beverage Sector:

Monopropylene Glycol, which is miscible in water and other liquids including acetone or chloroform, has flourished base in the food & beverage industry for food coloring, flavoring, additives and humectants food ingredients in pet and animal feed items. The food & beverage sector is rapidly growing owing to growth factors such as high demand for ready-to-eat food items and rising production for dairy, meat, fruits and vegetables and others and rising income. For instance, according to the Food & Drink Federation, food & beverage in the UK contributed US$35.60 billion to the economy and marked a growth of 4.3% in 2021 compared to 2020. With the robust growth scope for the food & beverages sector, the applicability of monopropylene glycol as a food additive, pigment, flavoring and others is growing, which, in turn, is driving the monopropylene glycol industry.

Monopropylene Glycol Market Challenge

Harmful Impacts Associated with Monopropylene Glycol:

The hazardous impacts associated with monopropylene glycol act as a challenging factor in the Monopropylene Glycol Market. Monopropylene glycol takes a long time to decompose and can lead to harmful effects on the environment and human health such as skin irritation, eye irritation and others. Further, it can lead to toxic effects in the kidneys and liver and others. Other potential symptoms include cardiovascular problems, neurological systems, allergic reactions and others associated with propylene glycol hindering growth prospects. Thus, owing to such hazardous impacts and poor decomposition, the Monopropylene Glycol Market anticipates a major slowdown.

Monopropylene Glycol Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Monopropylene Glycol Market. The top 10 companies in the Monopropylene Glycol Market are:
  1. Royal Dutch Shell PLC
  2. LyondellBasell Industries N.V.
  3. Huntsman Corporation
  4. Chemtex Specialty Limited
  5. Solventis Ltd
  6. Banner Chemicals Limited
  7. The Dow Chemical Company
  8. Airedale Chemical
  9. The Archer Daniels Midland Company
  10. INEOS

Recent Developments

  • In March 2022, Sojitz Corporation and Braskem S.A. signed an agreement to establish a joint venture Company, which produced biomass-derived monoethylene glycol (bioMEG) and monopropylene glycol (bioMPG), intending to establish networks in industries including chemicals, food & beverage, apparel and others.
  • In April 2022, MOL and HELM joined forces in the marketing of propylene glycol in Western Europe. The product range included both higher value-added monopropylene glycol and dipropylene glycol grades.
  • In October 2019, Dow Chemicals and a German specialty chemical firm named Evonic collaborated to bring the latest process for synthesizing propylene glycol from propylene and hydrogen peroxide.

Relevant Reports

Report Code: CMR 0633

Report Code: CMR 0127

Report Code: CMR 1457

For more Chemicals and Materials Market reports, please click here

1. Monopropylene Glycol Market - Market Overview
    1.1 Definitions and Scope
2. Monopropylene Glycol Market - Executive Summary
    2.1 Key Trends by Source
    2.2 Key Trends by Grade
    2.3 Key Trends by Application
    2.4 Key Trends by End-use Industry
    2.5 Key Trends by Geography
3. Monopropylene Glycol Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Monopropylene Glycol Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Monopropylene Glycol Market – Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Monopropylene Glycol Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Monopropylene Glycol Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Monopropylene Glycol Market – by Source (Market size – US$ Million/Billion)
    8.1 Synthetic
    8.2 Bio-based
9. Monopropylene Glycol Market – by Grade (Market size – US$ Million/Billion)
    9.1 Food Grade
    9.2 Technical Grade
    9.3 Others
10. Monopropylene Glycol Market – by Application (Market size – US$ Million/Billion)
    10.1 Food Pigment
    10.2 Antifreeze
    10.3 Industrial Coolants
    10.4 Additive
    10.5 Paints & Coatings
    10.6 Liquid Detergents
    10.7 Hand Sanitizers
    10.8 Building Panels
    10.9 Others
11. Monopropylene Glycol Market - by End-use Industry (Market Size - US$ Million/Billion)
    11.1 Automotive
        11.1.1 Passenger Vehicles (PVs)
        11.1.2 Light Commercial Vehicles (LCVs)
        11.1.3 Heavy Commercial Vehicles (HCVs)
    11.2 Food & Beverage
    11.3 Medical & Pharmaceutical
    11.4 Building & Construction
        11.4.1 Residential
        11.4.2 Industrial
        11.4.3 Commercial
        11.4.4 Infrastructural
    11.5 Cosmetics & Personal Care
        11.5.1 Skin Care
        11.5.2 Hair Care
        11.5.3 Nail Care
        11.5.4 Others
    11.6 Chemicals
    11.7 Others
12. Monopropylene Glycol Market - by Geography (Market Size - US$ Million/Billion)
    12.1 North America
        12.1.1 the USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 the UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Belgium
        12.2.8 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle-East
   Saudi Arabia
   Rest of the Middle-East
        12.5.2 Africa
   South Africa
   Rest of Africa
13. Monopropylene Glycol Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Monopropylene Glycol Market – Industry/Competition Segment Analysis Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Monopropylene Glycol Market – Key Company List by Country Premium Premium
16. Monopropylene Glycol Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."
Connect with our experts to get customized reports that best suit your requirements. Our reports include global-level data, niche markets and competitive landscape.