Increasing demand for methoxy propanol in the online retailing business coupled with high investments in R&D of methoxy propanol are fueling the market growth.
New York City, United States – June 9, 2020 /MarketersMedia/ —
The global methoxy propanol market is forecast to reach USD 994.1 Million by 2027, according to a new report by Reports and Data. Methoxy Propanol (or also known as propylene glycol methyl ether) is a colorless, highly flammable, water soluble industrial and commercial chemical and a methoxy alcohol derivative. Methoxy Propanol is mostly used in the manufacture of propylene glycol methyl ether acetate and is also widely utilized as a direct or intermediate solvent chemical in the formulation of various chemical processing. Paints, inks, synthetic resin, varnishes, and rubber adhesives are some of its chemical applications. The continuous expansion of the paint & coatings, varnishes, dyes, inks, acrylics, stains, toners, anti-freezers and coolants are expected to drive the demand throughout the forecast period.
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The report covers the following companies:
The Dow Chemical Company, Royal Dutch Shell PLC, Exxon Mobil Corporation, BASF SE, Tokuyama Corporation, LCY Chemical Corp., OXEA GmbH, JXTG Holdings, Inc., LG Chem Ltd., Sasol Limited, and ISU Chemical.
For the purpose of this report, Reports and Data have segmented the global methoxy propanol market on the basis of the end-use, sales channel, applications, and region:
End-Use Outlook (Revenue: USD Million; Unit: Kilo Tons 2016-2027)
• Direct Solvent
• Chemical Intermediate
• Coalescing Agent
• Chemical Reagents
Sales Channel Outlook (Revenue: USD Million; Unit: Kilo Tons 2016-2027)
• Online Retailing
• Offline Retailing
Applications Outlook (Revenue: USD Million; Unit: Kilo Tons 2016-2027)
• Industrial Use
• Paints and Coatings
• Electronics Industry
• Automotive Use
Regional Outlook (Revenue: USD Million; Unit: Kilo Tons 2016-2027)
• North America
• Asia Pacific
• Latin America
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Further key findings from the report suggest
• Methoxy propanol is one of the safest synthetic alcohol to be used in the direct solvent and are widely used in the chemical formulations. Eyeglasses cleaner, toner of the electronics appliances, anti-freezing agent in the diesel engine are some of its end-use applications. The direct solvent is forecasted to reach a market share of 34.5% by 2027 growing with a rate of 6.3% during the period 2019 – 2027.
• Chemical intermediate segment is measured to gain a market revenue of USD 186.9 Million by 2027 and the CAGR is forecasted to be 5.5% in the forecast period. Methoxy propanol is utilized as the chemical intermediate in the processing of glycol ethers, cellulose, and acrylics.
• Growing penetration of the online retailing businesses for the chemicals and materials especially in the emerging nation in Asia Pacific, is helping the market grow; broadening its outreach in the areas where the offline vendors are unavailable. Also due to the non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2027.
• Europe would reach a market share of 20.5% by 2027 and would grow at a CAGR of 5.0% in the forecast period. Germany has the highest number of valuable players in this region, while France is the fastest-growing market in Europe.
• North America is forecasted to witness a significant growth in the overall market, with 25.7% of market possession by 2027 and CAGR of 6.1% during the forecast period. US possesses the highest market share in this region.
Go through our meticulously drafted TOC, Tables, Statistics, Charts, and Company profiles: https://www.reportsanddata.com/report-detail/methoxy-propanol-market
The research report by Reports and Data analyzes and forecasts the Methoxy Propanol Market at the global and regional levels. The market has been projected in terms of volume and price for the forecast period. The report also sheds light on the various opportunities within the market.
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