Mono propylene glycol (MPG) continues to find application across diverse industries, on the back of its low toxicity and hygroscopic properties. A recent Future Market Insights (FMI) study suggests that the global mono propylene market value will reach beyond US$ 5 Billion towards the end of 2029, witnessing a moderate CAGR during the forecast period (2022 – 2029).

The environmental sustainability of bio-based mono propylene glycol will be significantly responsible for upholding its demand in the global market over the following years.

Manufacturers in the mono propylene glycol market can gain substantial profits by targeting long-term supply contracts from prominent end-use industries such as food & beverage, pharmaceutical, building construction, and others, across various developing countries such as India and China.

Who Is Winning?

The global mono propylene glycol market is fairly consolidated due to the unavailability of raw materials required for the manufacturing of mono propylene glycol, especially at the regional level, and the absence of local manufacturers. Key manufacturers such as Dow Chemical Company, Lyondell Basell, BASF SE, and Royal Dutch Shell PLC account for about 40% of the overall market share.

North America and Europe are anticipated to account for a significant share of the global mono propylene glycol market, owing to rapid infrastructural development and increasing preference for bio-based mono propylene glycol.

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Mono Propylene Glycol Market Market by Category

By Grade:

• Technical
• Food
• Pharmaceutical

By Application:

• Unsaturated Polyester Resin (UPR)
• Polyester Fiber Production
• Food Additive
• Heat Transfer Fluid
• Pharmaceutical Solvents
• Liquid Detergents
• Paints & Coatings
• Other Industrial

By End Use:

• Chemicals
• Cosmetics & personal care
• Pharmaceutical
• Food & Beverage
• Others

By Source:

• Synthetic
• Bio-based

Manufacturers Moving Towards Bio-based Mono Propylene Glycol

Bio-based mono propylene glycol is gaining popularity in the market, as a switch from petrochemical- to renewable-based MPG results in the reduction of climate change impact of 40-60% kg of CO2. Several countries are taking initiatives to increase the adoption of bio-based mono propylene glycol among various end-use industries owing to its significant environmental benefits.