Global 1, 2-Propanediol Market: Market Driver and Restraint
Applications of 1, 2-Propanediol are anticipated to create new business segments in the market. 1, 2-Propanediol is in use for a broad range of Unsaturated Polyester Resins (UPR) products such as Artificial Stone, Fiber Reinforced Glass & others. The companies are focusing on launching products that are launched in few regions. There lies a great opportunity since only a few companies are into this business due to introductory stage of this product market. 1, 2-Propanediol application is developed towards a more active mode.
Manufacturers are exploring the potential of 1, 2-Propanediol in Functional Fluids. Application of 1, 2-Propanediol in food additives are gaining traction in the recent years. Recently, manufacturers have started using 1, 2-Propanediol in the Cosmetics, Pharmaceutics and Food area. Further, there are also potential uses in the areas of cosmetics additives.
Global 1, 2-Propanediol Market: Key Takeaways
· On the one hand, 1, 2-Propanediol manufacturers are dedicated to lowering their manufacturing cost; on the other hand, they try to provide more qualified products to customers.
· Besides, they are trying to broaden the applications of 1, 2-Propanediol such as Cosmetics, Pharmaceutics and Food.
· Consumers are generally quick-change, to get or use newfangled products, better experience, better convenience and more quicker; to find and meet the needs of consumers, and exceeding expectation, better service.
Global 1, 2-Propanediol Market: Forecast by Form
This segment includes Industrial Grade, Food Grade, etc. In terms of volume, Industrial Grade segment is expected to remain dominant in the global 1, 2-Propanediol market.
Global 1, 2-Propanediol Market: Forecast by Region
North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA are the seven regions that are included in this report. Europe is the dominant market in the global 1, 2-Propanediol market in terms of value. The Europe 1, 2-Propanediol market was estimated to be valued at US$ 1,021 Mn in 2017 and is expected to expand at a value CAGR of 4.4% over the forecast period. The USA market is expected to expand at a robust rate of 4.1% in terms of revenue over the forecast period due to the steadily increasing production capacity for Artificial Stone products in this region.
Global 1, 2-Propanediol Market: Key Players
Dow, Lyondell Basell, INEOS, Huntsman, BASF, ADM, Sumitomo Chemical (Nihon Oxirane), SKC, Repsol, Asahi Kasei, Shell, Tongling Jintai Chemical, Shandong Shida Shenghua Chemical, CNOOC and Shell Petrochemicals, Hi-tech Spring Chemical, Daze Group, Shandong Depu Chemical, etc. are the key vendors included in this report.
The market of 1, 2-Propanediol is very fragmented. Of the 2017 global market, the top 10 companies, all multinational, account for less than 40.00% of sales. Dow is by far the leader, followed by Lyondell Basell and Huntsman. A number of producers are in China, many small and domestic. However, there are also multinational producers that supply high-quality product to the export-oriented market.
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