Global Dipropylene Glycol Market
Global Dipropylene Glycol Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 2.4 % through 2020 to 2026, reaching nearly US$ XX Bn.
Global Dipropylene Glycol Market Overview:
Dipropylene Glycol is a synthetic solvent used on a large scale in the Chemical and cosmetics industries. Dipropylene Glycol is clear and colorless in nature and holds a high boiling point along with excellent soluble properties. Dipropylene Glycol is a byproduct obtained during the production process of Propylene Glycol.
The presence of low toxicity and low evaporation rate has resulted in a wide-scale use of Dipropylene Glycol in the industrial sector.
Dipropylene Glycol is a prime component used in the production of high-volume plasticizers. Dipropylene Glycol is used as an initiator and stability provider in the process of manufacturing urethane polyols. Dipropylene Glycol is used on a large scale in manufacturing printing inks, cellulose acetate, and lacquers by the chemical industry. The cosmetic grade Dipropylene Glycol is used in manufacturing soaps, perfumes, skin and hair care products. Increased demand for cosmetic additives has resulted in increased demand for Dipropylene Glycol by the industrial sector. The presence of solvent properties and increased demand from the chemical industry has resulted in a growth in the Global Dipropylene Glycol Market.
Global Dipropylene Glycol Market Dynamics:
A report by WTO published in 2018 states that global consumption of plasticizers in 2017 was 7.5 million tonnes. This report also predicts that by 2024 the global consumption of plasticizers will reach the mark of 10 million tonnes. Dipropylene Glycol is one such product that acts as a polymerization initiator and solvent used in manufacturing plastic. The increasing use of products made by using plastic has resulted in increased demand for Dipropylene Glycol.
The presence of properties like high solvency and high viscosity has resulted in increased use of Dipropylene Glycol by the chemicals manufacturing industry. Dipropylene Glycol is a type of Dihydroxydipropyl ether that is used where ether and ester reactions are formed. Dipropylene Glycol acts as a solvent for chemicals like hydraulic brake fluids and textile oils. Increased demand for industrial and commercial chemicals has resulted in increased use of industrial-grade Dipropylene Glycol.
A report by the Global Consumer forum published in 2018 states that demand for cosmetics and personal care products is showing annual growth of 8% and is expected to reach the mark of US $ 450 Billion by the year 2025. Dipropylene Glycol is used as an emulsion stabilizer and softener solvent in manufacturing cosmetics and personal care products. Increased demand for body and personal care products around the world has propelled the use of Dipropylene Glycol from the cosmetics industry.
A report by WHO state the global Castor Oil market in 2017 was worth US $ 1.3 Billion. Increased use of Castor Oil in manufacturing medicines and cosmetics products has predicted the Castor Oil market to reach the mark of US $ 1.5 Billion by 2025. Dipropylene Glycol is used on a large scale for solubilizing Castor Oil. Increased demand for Castor Oil has predicted the increased use of Dipropylene Glycol.
A wide-scale application in the Chemical Industry acts as the major driving factor for the growth of the Global Dipropylene Glycol Market.
Restraints:
The rising preference for low-cost alternatives by small and medium-scale chemical manufacturers acts as the major restraining factor here.
Global Dipropylene Glycol Market Segment Analysis:
The Global Dipropylene Glycol Market is segmented on the basis of
By Grade, It is observed that more than 40% of the Dipropylene Glycol available in the market is of industrial grade. An increase in demand for body care products has resulted in a 2.6% increase in demand for cosmetics grade Dipropylene Glycol.
By Application, It is observed that more than 35% of the Dipropylene Glycol manufactured is used by the industrial sector for producing plastic. An increase of 3.1% has been observed in the demand for Dipropylene Glycol by the Chemical industry. The rising preference for cosmetics and personal care products has resulted in a 3% increase in demand for Dipropylene Glycol by the cosmetics industry.
Global Dipropylene Glycol Market
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It is observed that the presence of emulsifying properties has resulted in a 3.5% increase in the consumption of Dipropylene Glycol by the Cosmetics Industry. The presence of solvent and odour-enhancing properties has resulted in a 2.3% increase in demand for Dipropylene Glycol by the FMCG sector for manufacturing personal and home care perfumes. Increased demand for plastic products around the world has resulted in a 2.4% increase in demand for Dipropylene Glycol by the plastic industry for manufacturing plasticizers.
The presence of polymerization initiating properties has resulted in a 1.3% increase in the use of Dipropylene Glycol by the chemical industry. The presence of germ-killing properties has resulted in a 3% increase in the use of Dipropylene Glycol in manufacturing Insecticides. Different products like paints and coatings are made by using Dipropylene Glycol.
Global Dipropylene Glycol Market Regional Insights
Global Dipropylene Glycol MarketRegion-wise Asia-Pacific is the biggest market for Dipropylene Glycol. The ever-rising population and large-scale consumption of cosmetics, chemicals, and plastic products have resulted in a 2.8% increase in demand for Dipropylene Glycol by the industrial sector present in this region.
An increase in the consumption of plastic products has resulted in a 3.2% increase in demand for Dipropylene Glycol in North America. The preference for insecticides on a large scale has resulted in a 2.6% increase in demand for Dipropylene Glycol by the Chemical industry present in this region. The presence of big chemicals and plastic manufacturing plants has resulted in a 2.1% increase in demand for Dipropylene Glycol by the industrial sector present in this region.
The presence of the big cosmetics industry has resulted in a 2.6% increase in demand for Dipropylene Glycol in Europe. The rising preference for aromatic products has resulted in a 2.3% increase in demand for Dipropylene Glycol by the personal care products manufacturing industry present in this region.
South America is showing a growth rate of 2.4%, the reason for which is the presence of a big chemical and plastic manufacturing industry. The Middle East and Africa’s Market is showing a growth rate of 2.1%, the reason for which is the rapidly growing industrial sector present in this region.
The objective of the report is to present a comprehensive analysis of the global Dipropylene Glycol market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Dipropylene Glycol market dynamics, structure by analyzing the market segments and Project the global Dipropylene Glycol market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Dipropylene Glycol market make the report investor’s guide.
Global Dipropylene Glycol Market Scope: Inquire before buying
Global Dipropylene Glycol Market
Global Dipropylene Glycol Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Dipropylene Glycol Market Key Players
• BASF SE
• NEI Corporation
• The 3M Company
• Umicore N.V.
• Johnson Matthey
• Targray Technologies International Inc.
• Sumitomo Corporation
• Toda Kogyo Corporation
• Hitachi Chemical Energy Technology Co., Ltd.
• Showa Denko K.K.
• Kureha Corporation
• Mitsubishi Chemical Corporation
• Gravita India Ltd.
• Mitsui Mining and Smelting Co., Ltd.
• Pulead Technology Industry Co. Ltd.
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