QY Research has recently published a research report, titled “Global 2-Methyl-1, 3-Propanediol Market Insights, Forecast to 2025,” provides the detailed analysis of the market and offers various insights into the factors that are driving the market. The report provides a foolproof reading of the market strategies, which are based on current market trends. It also includes an overview of the market to help the businesses that are looking for the lucrative growth opportunities of the market.
The report predicts the global 2-methyl-1, 3-propanediol market will be worth US$152.59 mn by 2025 from US$124.23 mn in 2018. The market is estimated to register a CAGR of 2.98% between 2018 and 2025.
Global 2-Methyl-1, 3-Propanediol Market: Drivers
The 2-methyl-1, 3-propanediol (MPO) is mainly used in the personal care industries as an emulsifier, humectant, and emollient. MPO can be effectively used to exchange other glycols such as Dipropylene or Mono Glycol, as the main solvent in the liquid detergents. MPO reacts with propylene oxide or ethylene oxide to form MPO alkoxylates and is usually used by the manufacturers of paints, adhesives, polyester polyols, and inks.
In addition, the molecular structure of 2-methyl-1, 3-propanediol brings key advantages to unsaturated polyester resins. The primary high boiling point and hydroxyl character of MPO increases both kettle productivity and esterification rates. MPO is also a building block, which manufacturers widely use in the field of elastomers, adhesives, polyurethane coating, and sealants. All the above factors are responsible for the growth of the market in the coming years.
Global 2-Methyl-1, 3-Propanediol Market: Segment Analysis
The global market for 2-Methyl-1, 3-Propanediol is segmented into product type and applications. The application segment includes personal care, unsaturated polyester resins (composites), modified polyethylene terephthalate (PET), unsaturated polyester resins (gel coats), MPO polycarbonate, saturated polyester for coating, MPO alkoxylate, polyurethane, plasticizers, and others. The product type segment includes industrial grade and pharmaceutical grade.
Global 2-Methyl-1, 3-Propanediol Market: Geographical Outlook
North America is likely to hold a dominant share in the global 2-methyl-1, 3-propanediol market due to growing numerous chemical manufacturers in this region. Asia Pacific will be witnessing significant growth due to increasing research and development activities and rising chemical industries in this region.
Global 2-Methyl-1, 3-Propanediol Market: Top Players
The key manufacturers operating in the global 2-Methyl-1, 3-Propanediol market are Perstorp, Dairen Chemical Corp, and LyondellBasell.
Global 2-Methyl-1, 3-Propanediol Market: Competitive Landscape
LyondellBasell has expanded its business activity with its joint venture HMC Polymers Company Limited in June 2019 in the Southeast Asia region to build a fourth polypropylene production line at Thailand. The construction of this new business unit will allow HMC to maintain its domestic market share and also aims to report the expected demand for the growth of polymers in the Southeast Asia with a market share of 5% to 6% annually. Business expansion and joint ventures strategies are adopted by the top players to attain a position in the competitive market.
Full Report Overview@ https://www.qyresearch.com/index/detail/648302/global-2-methyl-1-3-propanediol-market