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Polypropylene Glycol Market Is Estimated To Grow At A Cagr Of 5.25% By 2030
According to ChemAnalyst report, “Polypropylene Glycol Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Global Polypropylene Glycol market witnessed a demand of around 1.64 million in 2020 and anticipated to grow at a significant rate with a healthy CAGR of 5.25% until 2030 attributed to the wide range applications of Polypropylene Glycol and its derivatives in various end use industries such as Cosmetics & Personal Care, Food & Beverage, Pharmaceuticals, Building & Construction and Automotive, and Others.
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Polypropylene Glycol is a polymer of Propylene Glycol also known as Polypropylene Oxide. Polypropylene is polyether and produced by adding propylene oxide to 1,2 Propylene Glycol at extreme temperature as well as under pressure ranging from 2000-6000 hPa in the presence of alkaline catalyst. It is an odorless and colorless liquid with medium viscosity, low volatility and ...
... toxicity. PPG is hygroscopic in nature that is soluble water along with other solvents such as chloroform and acetone. With increasing molecular mass its solubility in water decreases rapidly and viscosity increases. Depending upon their molecular weight Polypropylene Glycol is segmented into different grades such as Grade PPG-1000, PPG- 2000, PPG-3000, PPG-4000 and PPG-6000 and its applications varies with the molecular weight.
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Versatile properties of Polypropylene Glycol include low density, chemical resistance, high moldability and tensile strength, low moisture absorption, excellent lubricity, high melting point, lightweight, can be dyed easily and low cost. Owing 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. Additionally, Polypropylene are widely used in the production of polyurethanes which are further employed as foams, coatings, adhesives, composite wood panels, rollers and tyres etc. It also acts as cosolvent in the water-based paints and intermediate in the production of varnishes, latex paints, and alkyd resins. Moreover, its use in automotive industry in the production of engine coolants, heat transfer fluids, fire resistant brake, hydraulic fluids along with its utilization as a raw material in the manufacturing of aircraft deicing fluids is likely to boost its market in the upcoming years.
Apart from these applications Polypropylene Glycol is prominently used in cosmetics as a humectant in cosmetic products to increase the moisture retention in skin and hair. It’s this property of retaining moisture is also employed in Pharmaceuticals and Food industry. It is also used in pulp and paper processing as well as in theatrical productions and fire-fighting training to create artificial smoke or fog. In textile industry, PPGs are used as flexible fibers for making carpet backings, backings and tapes. In food and Beverage industry it is used to enhance the flavors and aroma of food products. Being the derivative of Petrochemical, the price of Polypropylene Glycol fluctuates with the fluctuation in the prices of Petrochemicals. Moreover, major manufacturers are now focusing to produce biobased PPG that is likely to help in reducing carbon footprint as well as lead to sustainability in its prices.
In first half of 2020, the unprecedented spread of COVID-19 across the global caused nationwide lockdowns and disruption in demand and supply chain which directly impacted several industries. During the pandemic a decline in the demand of Polypropylene Glycol was observed due to slowdown in the manufacturing and sale of various end use industries. Moreover, the slum in the Automotive and Construction sector also affected the market for PPG amid the crisis. However, there was a surge in the demand for PPG owing to its application as a disinfectant for the production of sanitizers as well as liquid cleaners due to rising hygiene concerns amid pandemics. Additionally, after the exemption of trade restriction and resumption in industrial operations in the second half of 2020, Polypropylene Glycol demand was recovered promptly due to high demand from end use industries and is expected to surge the demand for Polypropylene Glycol in the forthcoming years.
Region wise, Asia Pacific accounts for the major share of the market for Polypropylene Glycol and is expected to boost over 2030 owing to various factors urbanization, large consumer base and the flourishing industries such as Automotive, Food and Beverage, Building and Construction, and Pharmaceuticals in the region. Additionally, China is the giant manufacturer of products involving Polypropylene Glycol such as resins, plasticizers, chemicals, automotive parts, inks, paints, personal care products etc. subsequently driving the market for Polypropylene Glycol in the APAC region.
According to ChemAnalyst report, “Polypropylene Glycol Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Major players for Polypropylene Glycol globally 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 N.V., 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 derivative such as PEG, alkyd resins, Plasticizers, etc. have wide range applications in numerous industries. Higher molecular weight PPGs are utilized in Cosmetics hence, the growth in skin care and cosmetics sector is likely to drive its market in the forthcoming years. Further, rapidly growing Construction and Automotive industry is anticipated to boost the demand for Polypropylene Glycol in the upcoming years as it is employed to make latex paints, emulsions, coatings, varnishes, lubricants, adhesives, coolants, hydraulic fluids, polyurethanes etc. that are extensively use in construction and automotive sectors. Additionally, its use in food and beverage industry along with pharmaceuticals as a humectant and solvents are likely to propel its demand in the upcoming years. Due to rising environmental concerns, giant manufacturers are focusing to shift from petrochemical based Polypropylene Glycol to biobased Polypropylene Glycol that would offer potential opportunities for the expansion of Polypropylene Glycol market size in the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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