Ethoxy Propanol Market: Introduction
Ethoxy Propanol, also known as propylene glycol ethers, is stable colorless liquid, with medium to high boiling point and mild odor. It has a chemical formula C5H12O2. Ethoxy Propanol is soluble in water as well as solvent and is also compatible with many oils, greases and waxes. Ethoxy Propanol has high solvent power, excellent compatibility with polar and non-polar solvents, medium-low volatility and coalescence. Due to its unique features, they are extensively used in a solvent-based system and as a coupling agent in an aqueous organic system. They have diverse industrial and consumer applications that include paints & coating, inks, dyes, cleaners, cosmetics, agriculture, textile, adhesives and pharmaceutical. In the coating industry, due to its excellent solvency, it is used in a wide range of resins, including epoxies, acrylic, polyester, polyurethanes and nitrocellulose. In cleaner, Ethoxy Propanol offers low toxicity, reduces surface tension, excellent wetting, coupling, & penetration, and high solvency for polar and non-polar products. They can also be used in combination with other glycol ethers due to its high solvency to meet customized formulation requirements.
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Ethoxy Propanol Market: Market Dynamics
The key growth driving factor for Ethoxy Propanol market is its increased demand as a solvent in paints & coating industry. The global paints & coating industry is on the rise owing to growing building & construction industry, rising urbanization and increase per capita spending. This drives the demand for a number of Ethoxy-Propanol-based solvents. Ethoxy propanol is used in a variety of formulations in paints & coatings industry. Moreover, ethoxy propanol application in pharmaceutical and industrial cleaning is also one of the growth driving factors for the global ethoxy propanol market. In the pharmaceutical industry, ethoxy propanol is used in the formulation of high purity pharmaceutical ingredients. In industrial cleaning application, ethoxy propanol is used as a coupling agent due to its high solvency power and low toxicity. Ethoxy propanol is also used as a substitute for various solvents including ethylene-oxide-based-glycol ether due to its regulatory advantage. However, volatility in raw material prices will always remain a bearish factor to hamper the growth of the ethoxy propanol market globally. Besides, its application in cosmetics and agriculture industry will bring new opportunities for the ethoxy propanol market to expand in the long term period.
Ethoxy Propanol Market: Segmentation
The global ethoxy propanol market is segmented on the basis of end-use application and region.
Based on end-use application, the global ethoxy propanol market is segmented as:
- Paints & Coating
- Inks & Dyes
Paints & coating end-use application accounts for majority of the share in the global ethoxy propanol market. Whereas, end-use applications such as cosmetics and agrochemicals will remain as an emerging hotspot in the global ethoxy propanol market.
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Based on the region, the global ethoxy propanol market is segmented as:
- North America
- Latin America
- East Asia
- South Asia
Ethoxy Propanol Market: Regional Outlook
Europe is estimated to account for a majority share of the global ethoxy propanol market as a majority of the production facilities of ethoxy propanol is concentrated in this region. In the Asia Pacific region, ethoxy propanol market is anticipated to witness a steep growth in the coming future. This is due to the growing paints and coating industry in developing regions such as China, India, Malaysia and Indonesia, which is expected to result in increased use of ethoxy propanol solvents in the long-term period. In North America, the ethoxy propanol market is estimated to witness moderate growth. The growth driving factor in North America is mostly paints & coating and pharmaceutical industry. Other regions, such as Latin America and Middle East & Africa will witness a single-digit growth in the forecast period.
Ethoxy Propanol Market: Prominent market stakeholders
Key market stakeholders in the global ethoxy propanol market are Shell, INEOS, BASF SE, Wilmar BioEthanol, amongst others. The ethoxy propanol market consists of consolidated players with manufacturing facilities concentrated in the East Asia region. The market is consolidated with few manufacturers globally. Besides, with increased focus on expansion of production capacity, global ethoxy propanol market is anticipated to witness a steep growth in the forecast period.
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