Los Angeles, November 28, 2019 – QY Research has added a new report in its repository titled “Global Poly Propylene Glycol Market Insights, Forecast to 2025” for the projected period of 6-years. According to the author of the report, the market was valued at US$ 1.90 Bn, in 2018 and is anticipated to reach US$ 2.03Bn by the end of 2025. The global Poly Propylene Glycol market is predicted to register a sluggish CAGR of 2.6% throughout the predicted period (2019-2025). Poly Propylene Glycol is a liquid, which is used in the industrial process to suppress foaming to produce hydraulic fluids, polyurethane resins, and other materials.
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Poly Propylene Glycol Usage in Cosmetic Industry to Boost the Growth of Application Segment
Based on type, the global Poly Propylene Glycol market is segmented into PPG Average Mn ~1500-3000, PPG Average Mn ~200-1500, and PPG Average Mn above 3000, while on the basis of applications, the market is bifurcated into the solvent, Skincare and cosmetics, intermediate, and Others. In the cosmetic industry, Poly Propylene Glycol is used as a fragrance dispenser and moisturizer. High demand for Poly Propylene Glycol in the cosmetic industry is anticipated to boost the growth of the application segment.
High Demand for Poly Propylene Glycol in Developing Economies Expected to Fuel the Growth of Asia Pacific Market
Based on the region, the market is bifurcated into North America, Europe, Central & South America, Asia Pacific, and Middle-East & Africa. The Asia Pacific region is expected to witness growth due to developing economies such as China and India have a large population fuelling the demand for Poly Propylene Glycol in various verticals such as the cosmetic, food, and pharmaceutical sector.
Advantages Associated with Poly Propylene Glycol Offer Scope for the Growth of the Market
Poly Propylene Glycol is also considered safe to consume due to its odorless, clear, and non-toxic properties, and is easy to digest as a carbohydrate. Hence, it has extensive usage in the food industry, which is likely to stimulate the growth of the market. Industrial grade Poly Propylene glycol is used to anti-freeze and is also used in the cooling engine, which is likely to create a positive impact on the overall growth of the market. Another usage of Poly Propylene Glycol is, it also acts as a functional fluid which is easy to blend and can be used as a lubricant, widening the scope for the expansion of the market.
Top Players Keen to Incorporate New Partnerships and Collaborations to Foster Growth
Some of the top players of the Poly Propylene Glycol market are Mitsui Chemical, KKPC, Dow, BASF, Shell, AGC, Ineos, Covestro, Jiangsu Haian Petrochemical, Sanyo Chemical, Zibo Yunchuan Chemical, Zhejiang Huangma, and Sungda Chemical. Market players are focusing on expanding new opportunities from various industries. Market players are keen to enter into new partnerships and also resort to strategies such as new collaborations, mergers, and acquisitions.
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