Rise in Demand for Solvents with Low VOC Content to Drive Global Propylene Glycol Ether Market
- Propylene glycol ethers (PGEs) are widely used in printing inks, cleaning applications, and coatings. They are employed in protective coatings such as automotive and decorative coatings to provide enhanced gloss and image distinction.
- Rapid growth in the paints & coatings industry and rise in infrastructure and industrial development, primarily in emerging economies, have augmented the demand for solvents of paints and coatings
- Increase in awareness regarding harmful effects of high VOC content has boosted the demand for eco-friendly solvents. This, in turn, is anticipated to drive the demand for propylene glycol ethers, as they are organic compounds formed by the reaction of alcohols with propylene oxide. These ethers possess enhanced material properties such as better viscosity reduction due to heavy molecules of glycol ether.
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Rapid Growth of Electronics Industry to Fuel Propylene Glycol Ether Market
- Propylene glycol ether is used in electronics applications, primarily for TFT-LCD manufacturing and semiconductors. It is employed in metal degreasing and specialized equipment cleansing process of electronics manufacturing.
- Growth in demand for consumer electronic devices, such as mobile phones and televisions, in developing economies owing to the significant increase in buying capacity of end-users is anticipated to drive the demand for propylene glycol ether during the forecast period
Volatility in Prices of Raw Materials to Hamper Market
- The propylene glycol ethers are manufactured by the reaction of propylene oxide with methyl alcohol or n-butyl alcohol. The propylene glycol ethers with variety of polymer lengths can be produced by the reaction. The propylene glycol ethers in variety of length can be produced by the reaction. The chain length is dependent on molar ratio of reactants, pressure used, and the temperatures.
- Petroleum-derived products are the raw materials of propylene glycol ethers. Thus, their prices are dependent on global oil and gas prices. Volatility in prices of oil and gas is estimated to hamper the global propylene glycol ether market during the forecast period.
Europe is Dominant Region of Global Propylene Glycol Ether Market
- Geographically, the global propylene glycol ether market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe is projected to be a key region of the global propylene glycol ether market due to the rise in demand for environment-friendly, bio-based products in various end-use industries
- The VOC Solvents Emissions Directive is the policy instrument aimed at the reduction of industrial emissions of volatile organic compounds (VOCs) in the European Union (EU). The VOC solvents emission directive was issued in 1999.
- The Decopaint directive, which was approved in 2004, has restricted the use of organic solvents in decorative paints and varnishes and vehicle refinishing products in the EU
- Thus, implementation of these stringent environmental laws in the European Union is likely to propel the demand for low VOC content solvents in industrial and coatings applications. This is anticipated to positively impact the demand for propylene glycol ether in Europe considering its eco-friendly nature as solvent.
- Presence of a well-established electronics industry in China, South Korea, Taiwan, and Japan and significant rise in demand for automotive and decorative paints & coatings in Asia Pacific are expected to fuel the propylene glycol ether market in the region.
- Demand for propylene glycol ethers is rising in applications such as industrial, commercial, and household cleaners. Rise in demand for domestic and industrial cleaners, primarily in countries such as China, India, and Indonesia, and rapid industrial developments in these countries have augmented the demand for cleaners in Asia Pacific. This, in turn, is estimated to propel the demand for propylene glycol ether in the region.
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Key Players in Market
The propylene glycol ether market is fragmented due to the presence of large numbers of local and global players. Key players operating in the propylene glycol ether market include:
- LyondellBasell Industries
- Holdings N.V.
- Royal Dutch Shell plc
- BASF SE
- Eastman Chemical Company
- Chang Chan Group
- Manali Petrochemicals Limited,
- KH Neochem Co. Ltd.
- Shiny Chemical Industrial Company Limited,
- New Materials Co., Ltd.
- Jiangsu Hualun Chemical Industry Co. Ltd.
- Jiangsu Dynamic Chemical Co., Ltd.
This post was originally published on Crypto Journal