Poly Propylene Glycol Market Growth, Latest Trend Brief Analysis and Forecast 2023-2030
The polypropylene glycol market size will witness an appreciable gain on the back of soaring demand from the cosmetic and personal care sectors. The polymer of propylene glycol is highly sought-after as an anti-foaming, anti-static or pigment dispersing agent. With rising penetration of biodegradable, environmentally friendly and cost-effective products, the liquid will continue to gain prominence across the end-use sectors.
Fortune Business Insights™ has delved into these inputs in an upcoming research report, titled, “Polypropylene Glycol Market, 2022-2029.”
Widespread Cosmetic Store Closures Dented Growth Prospect
A dip in in-store shopping did not augur well for the business outlook following the decline in consumers’ inclination to spend on beauty products. Prominently, brands switched their manufacturing from cosmetics to hand sanitizers. Meanwhile, a surge in online sales could offset the plunge in in-store sales. Expanding application of wetting agents and surfactants for leather finishing could provide impetus to the industry growth. Stakeholders are expected to invest in paintballs manufacturing, and laxatives manufacturing in the ensuing period.
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In terms of application, the market is segregated into leather industry, rheology, mass spectrometry, paintballs manufacturing, laxatives manufacturing, skincare and cosmetics, solvent and others. Based on geography, the industry is segmented into Europe, North America, Asia Pacific, the Middle East & Africa and Latin America.
The research report offers insights into industry dynamics redefining the global landscape. The report delves into drivers, opportunities, restraints and trends to provide a holistic market view. Along with qualitative and quantitative analyses, the report has been prepared through primary sources, including interviews with application developers, directors and executives. The report also provides secondary resources, such as press releases, annual reports, white papers and journals.
Drivers and Restraints-
Strong Demand from Leather Industry to Impel Industry Growth
Lately, polypropylene glycol has gained significant traction in the leather industry, with the colorless liquid being sought as a dispersant, surfactant and wetting agent. The rising demand for leather in belts and bags will bode well for the industry forecast. Moreover, the paints and coating manufacturers are likely to cash in on the use of the polypropylene oxide as a viscosity modifier, freeze stabilizer and raw material for alkyd resins. Polypropylene glycol market share will grow at a notable rate on account of the rising footprint of liquid detergents. The material stabilizes enzymes and has witnessed an increased demand as a coupling agent. That said, possible health implications could impede the industry growth during the assessment period.
Asia Pacific Market to Gain Ground from Rising Footprint of Leather Processing
Emerging economies, such as China and India have emerged as happy hunting grounds for leather processing manufacturers. Besides, bullish demand from the cosmetic & personal care and paintballs manufacturing will foster the Asia Pacific market forecast. Innovations in the product innovation pipeline will further encourage leading companies to inject funds into the landscape.
North America polypropylene glycol market growth will be pronounced with rising consumer spending in laxative manufacturing and cosmetic sectors. The U.S. and Canada will provide lucrative opportunities for leading companies vying to expand their penetration in unsaturated polyester resin, paints & coatings and liquid detergent portfolios. Amidst the economic magnitude of the COVID-19 pandemic, brands are likely to seek the polypropylene glycol.
Stakeholders Prioritize Organic and Inorganic Strategies to Tap into Markets
Prominent companies are well-poised to invest in product launches, technological advancements, and R&D activities to bolster their geographical footprint. Bullish investments in innovation will encourage stakeholders to inject funds into mergers and acquisitions. With the COVID-19 pandemic causing havoc in most industries, brands and retailers are likely to seek new sources of capital.
Some of the Leading Companies Profiled in the Market:
- Dow (U.S.)
- BASF (Germany)
- Covestro (Germany)
- KKPC (South Korea)
- Sanyo Chemical (Japan)
- ACURO ORGANICS LIMITED (India)
- Jiangsu Haian Petrochemical (China)
- Zhejiang Huangma (China)
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