세계의 프로필렌 글리콜 에테르(PGE) 시장 수요 분석 : 유형별, 용도별, 예측(-2034년)

The global Propylene Glycol Ether (PGE) market is projected to grow at a CAGR of 5.6% from 2024 to 2032, surpassing USD 11 billion by 2032. This growth is driven by increasing demand across diverse industries including chemical manufacturing, industrial processes, inks, and coatings. PGEs are organic solvents produced by reacting propylene oxide with alcohols. They offer low toxicity, excellent electrolyte solubility, and lower volatility compared to ethylene glycol ethers, making them ideal for household products, paints, coatings, and inks.

Propylene Glycol Ether Applications

The PGE market is segmented by type into Propylene Glycol Mono Methyl Ether (PM), Dipropylene Glycol Mono Methyl Ether (DPM), and Tripropylene Glycol Mono Methyl Ether (TPM). Among these, PM and DPM share similar solvent properties and find widespread use in varnishes, paints, printing inks, and coatings across architectural, automotive, and metal finishing industries. A significant application of PGE is in producing propylene glycol methyl ether acetate (PGMEA), a critical solvent used extensively in the electronics industry for manufacturing cell phones, computers, and semiconductors. PGMEA is favored in semiconductor processes due to its high purity and minimal residue after application, essential for the integrity of electronic devices.

Regional Demand Analysis

Asia Pacific leads the market, driven by rapid industrialization, urbanization, and expanding end-use sectors such as automotive, electronics, construction, and pharmaceuticals and countries like China, India, Japan, and South Korea are the major manufacturers and consumers of PGEs. The growing preference for waterborne paints and coatings, along with increasing infrastructure development, supports strong market growth. Government initiatives promoting eco-friendly products also encourage the adoption of PGEs as safer solvent alternatives.

In North America, demand is fueled by strict environmental regulations that promote the use of low-VOC solvents, including PGEs, especially in paints, coatings, and cleaning applications. The region's well-established automotive, aerospace, and industrial manufacturing sectors are key consumers. Increasing investments in research and development and a growing focus on sustainable chemical solutions contribute to steady growth.

Key Players

Leading producers in the global PGE market include Dow, Eastman Chemical Company, LyondellBasell, Shell, BASF, Daicel, Hualun Chemical, Dynamic International, Jiangsu Yida, SKC, and Wuxi Baichuan, competing through innovation, capacity expansion, and strategic partnerships.

Recent Developments

Significant investments and expansions mark recent industry activity. In 2021, LyondellBasell partnered with SINOPEC to build a new PGE plant in Ningbo, China, with a 125-kiloton capacity expected by 2024. In 2024, South Korea's Chemtronics Co. successfully developed ultra-high-purity PGMEA domestically, ending reliance on imports. The company plans to expand PGMEA production capacity from 10 kilo tons to 25 kilo tons, investing approximately USD 16.7 million to meet rising demand.

Key Market Drivers

The rapid expansion of the electronics industry remains a primary catalyst for the growing demand for Propylene Glycol Ethers (PGEs). PGEs play a crucial role as solvents in semiconductor manufacturing and other electronic-grade applications, where high purity and performance are essential. The continuous surge in consumer electronics ranging from smartphones and tablets to home appliances combined with increasing disposable incomes worldwide, especially in emerging markets, further stimulates this demand.

Moreover, the automotive industry is a significant contributor to PGE consumption. PGEs are widely utilized in protective coatings due to their excellent water solubility, quick evaporation rates, and compatibility with a variety of resin systems including acrylics and polyurethanes. These attributes help improve coating durability, corrosion resistance, and aesthetic quality in automotive finishes, as well as in industrial and architectural coatings.

Market Restraints

Price volatility of petroleum-based raw materials like propylene oxide impacts PGE production costs, affecting pricing and profitability. The health and environmental regulations, including REACH restrictions related to toxicity concerns of ethylene oxide derivatives, limit the use of some PGEs. These regulatory and cost pressures pose challenges to market growth.

Table of Contents

1. Introduction

• Scope
• Market Coverage
  • Type
  • Application
  • Regions
  • Countries
• Years Considered
  • Historical - 2018 - 2023
  • Base - 2024
  • Forecast Period - 2025 - 2034
• Research Methodology
  • Approach
  • Research Methodology
  • Prismane Consulting Market Models
  • Assumptions & Limitations
  • Abbreviations & Definitions
  • Conversion Factors
  • Data Sources

2. Market Synopsis

• Market Evolution
• Demand Overview
• Industry Structure
• Strategic Issues
• End-use Trends
• Growth Forecast

3. Economic & Energy Outlook

• GDP and Demographics
• Monetary & Fiscal Policies
• Crude Oil Production and prices
• Natural Gas
• Electricity Prices

4. End-use Sector Performance

• Chemical
• Industrial
• Inks & Coatings
• Others

5. Introduction to Propylene Glycol Ether and Market Overview

• Product Description
• Grades & Properties
• Raw Material
• Manufacturing Process
• Environmental Issues
• Value Chain
• Applications

6. Market Dynamics and Industry Trends

• Market Dynamics
  • Drivers
  • Restraints
  • Opportunities
  • Challenges

7. Global Propylene Glycol Ether Demand Analysis, By Type, By Application (Volume, Value) (2018-2034)

• Strategic Issues and COVID-19 Impact
• Demand Analysis and Forecast (2018- 2034)
  • Demand
  • Demand Growth Rate (%)
  • Driving Force Analysis
• Global Propylene Glycol Ether Market, By Type
  • Propylene Glycol Mono Methyl Ether (PM)
  • Dipropylene Glycol Mono Methyl Ether (DPM)
  • Tripropylene Glycol Mono Methyl Ether (TPM)
  • Others
• Global Propylene Glycol Ether Market, By Application
  • Propylene Glycol Methyl Ether Acetate
  • Solvent
  • Coalescing Agents
  • Inks & Coatings
  • Others

8. Demand Analysis and Market Review, By Region, By Country (Volume, Value), (2018- 2034)

• Strategic Issues and COVID-19 Impact
• Demand Analysis and Forecast (2018 - 2034)
• Demand
• Demand Growth Rate (%)
• Propylene Glycol Ether Market, By Type
• Propylene Glycol Ether Market, By Application

Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand (consumption) split by type, by application has been provided for each of the countries / regions in Volume (Kilo tons) and Value (USD Million).

• North America
• USA
• Canada
• Mexico
• Western Europe
• Germany
• France
• Italy
• United Kingdom
• Spain
• Rest of Western Europe
• Central & Eastern Europe
• Russia
• Poland
• Rest of Central & Eastern Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific
• Central & South America
• Middle East & Africa

Note: CAGR will be calculated for all the type and applications to arrive at the regional / global demand growth for the forecast period (2025 - 2034)

9. Pricing Analysis

10. Key Strategic Issues and Business Opportunity Assessment

• Market Attractiveness Assessment
• Prospective & Target Market Study

11. Strategic Recommendation & Suggestions

12. Company Analysis

• Propylene Glycol Ether Manufacturers Profiles/ Company Analysis
  • Basic Details
  • Headquarter, Key Markets
  • Ownership
  • Company Financial
  • Manufacturing Bases
  • Global Turnover
  • Total Employee
  • Product Portfolio / Services / Solutions
  • Key Business Strategies adopted and Prismane Consulting Overview
  • Recent Developments
  • Companies Covered -
• Eastman Chemical Company
• Lyondell Basell
• Shell
• BASF
• Daicel
• Hualun Chemical
• Dynamic International
• Jiangsu Yida
• SKC
• Wuxi Baichuan
• Jiangsu Ruijia
• Yancheng Super
• Jiangsu Yinyan
• Zhongtian Huanbao
• Other Manufacturers

Note: This section includes company information, company financials, manufacturing bases and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.

13. Appendices

• Demand - Regions
• Demand - Countries