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Propylene Glycol Methyl Ether Acetate Market to Reap Over US$ 511.2 Mn in Revenues by End of 2026

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Propylene Glycol Methyl Ether Acetate Market to Reap Over US$ 511.2 Mn in Revenues by End of 2026

Renewable Chemicals MarketPress Release

Propylene glycol methyl ether acetate is a P-type glycol ether derivative used as a solvent and surface adherent in semiconductor and electronics industries. It is also used in inks, coatings and cleaners. Propylene glycol methyl ether acetate with 98 – 99% purity is generally used as a solvent for paints, coatings, varnishes, cleaners and lacquers, while more than 99% purity propylene glycol methyl ether acetate is mainly used in the electronics industry.

The global propylene glycol methyl ether acetate market is estimated to have been valued at US$ 367.7 Mn by 2017 end and is expected to reach US$ 511.2 Mn by the end of 2026, while expanding at a CAGR of 3.8% over the forecast period. The global propylene glycol methyl ether acetate market is anticipated to represent an incremental opportunity worth US$ 131.1 Mn between 2018 and 2026.

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Swift Growth of the Electronics Industry is escalating the Growth of Propylene Glycol Methyl Ether Acetate Market

The use of propylene glycol methyl ether acetate is increasingly gaining traction in the electronic industry for the manufacturing of semiconductors and TFT-LCDs. Rapid growth in the electronics industry has been witnessed in recent times on account of the swiftly rising demand for industrial as well as consumer electronic products. This, in turn, has been fueling the demand for propylene glycol ether and propylene glycol methyl ether acetate, which are required for the manufacturing and maintenance of electronic components. Production of products associated with Information Technology, including computers, circuit boards, smart-phones and networking devices, among others and consumer electronics and appliances, displays, etc., accounts for a significant share in the overall electronics output. Propylene glycol methyl ether acetate finds application in a variety of these products. Moreover, increasing focus on the adoption of advanced technologies and growing trends pertaining to miniaturization and the use of high density PCBs, among others are expected to, in turn, drive the growth in consumption of propylene glycol methyl ether acetate across the globe over the forecast period.

Solvent Segment is pegged to dominate the Global Propylene Glycol Ether Market, while Electronics Segment is set to register Significant Growth

On the basis of application, the global propylene glycol methyl ether acetate market can be segmented into solvents, cleaners, metal finishing, pesticides, electronics and others. The electronics segment in the propylene glycol methyl ether acetate market is further divided into semiconductor and TFT-LCD. While the solvent segment is estimated to dominate the global propylene glycol methyl ether acetate market with a significant share, the electronics segment is expected to expand with a significant CAGR, creating an incremental $ opportunity of US$ 36.7 Mn over the forecast period. The solvent, cleaner and electronics segments are expected to collectively hold over 4/5th of the value and volume share in the global propylene glycol methyl ether acetate market.

North America dominates the Global Propylene Glycol Methyl Ether Acetate Market while China is tipped to emerge as a High Growth market by the end of the Forecast Period

The North America propylene glycol methyl ether acetate market accounted for about one-fourth of the value & volume share in global market during 2017 and is forecast to remain dominant in the global market over the forecast period. The top 5 countries in the global market are expected to account for over half of the global propylene glycol methyl ether acetate market share by the end of 2018. The top 3 countries in Europe are expected to account for more than half the European propylene glycol methyl ether acetate market share by the end of 2018.

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Market Participants in the Global Propylene Glycol Methyl Ether Acetate Market

Some of the market participants reported in this study of global propylene glycol ether market include LyondellBasell Industries Holdings N.V., Royal Dutch Shell plc, DowDuPont Inc., BASF SE, Eastman Chemical Company, Chang Chan Group, Manali Petrochemicals Limited, KH Neochem Co., Ltd, Shiny Chemical Industrial Company Limited, Jiangsu Baichuan High-tech New Materials Co., Ltd, Jiangsu Hualun Chemical Industry Co. Ltd. and Jiangsu Dynamic Chemical Co., Ltd. Prominent players involved in the global propylene glycol methyl ether acetate market are focusing on the expansion of their processing facilities to meet the ever-increasing demand and gain market share.