Propylene Glycol Methyl Ether Acetate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region:

Description

Propylene glycol methyl ether acetate (PGMEA) has emerged as a versatile compound with significant applications across various industries, serving as a solvent, surfactant, and integral component in inks, coatings, and cleaners. This report delves into the dynamics of the PGMEA market, exploring its diverse applications, regional trends, key players, and the impact of the COVID-19 pandemic.

Market Overview:

PGMEA, a P-type glycol ether derivative, finds extensive usage in electronics & semiconductor manufacturing and chemical sectors. The market, particularly thriving in East Asia, is witnessing substantial growth driven by robust demand from end-use industries. However, the COVID-19 pandemic has introduced disruptions, affecting both supply chains and demand dynamics, leading to a temporary slowdown.

Research & Development Focus:

Key market players are intensifying their investments in research and development (R&D) activities to cater to specific application demands. This strategic approach aims to develop innovative and efficient products, enhancing their market presence globally and regionally. Approximately 3-5% of revenue is being allocated towards R&D initiatives, paving the way for expanded applications and market growth.

Business Integration Models:

To mitigate the challenges posed by an unreliable supply chain, manufacturers are embracing agile and flexible business integration models. By adopting backward, forward, and downward integration strategies, players seek to streamline operations and reduce dependence on third-party vendors, ensuring supply chain resilience and operational efficiency.

Exploring New Application Areas:

PGMEA's properties make it indispensable in advancing next-generation electronics technologies, facilitating the production of high-efficiency connectors, circuits, and chips. As the electronics industry continues to evolve with a focus on miniaturization and performance enhancement, PGMEA remains pivotal in meeting stringent application requirements.

Demand from Paints & Coatings Industry:

The paints and coatings industry, fueled by robust construction and automotive activities globally, represents a significant market for PGMEA. With increasing construction projects and automotive production, the demand for high-quality solvents like PGMEA is on the rise, driving market growth.

Product Customization for Specific Applications:

PGMEA's unique properties and cost-effectiveness position it as a preferred solution across diverse industries. Particularly in the electronics sector, where high-grade purity is essential, customization of PGMEA products to meet specific application needs opens new avenues for market expansion, especially in East Asia.

Manufacturers' Focus on Economic Range Products:

Manufacturers are ramping up production and investing in innovative technologies to enhance product quality, reduce environmental impact, and optimize operational costs. The concentration of major players in East Asia, notably China, underscores the region's significance in catering to global demand for high-quality PGMEA products.

Competitive Landscape:

The global PGMEA market is characterized by a blend of global and medium-scale players, fostering a competitive environment. Key players such as LyondellBasell Industries Holdings N.V., Royal Dutch Shell plc, BASF SE, and others dominate the market, leveraging their expertise and resources to drive innovation and market expansion.

1. Executive Summary

1.1. Global Propylene Glycol Methyl Ether Acetate Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Propylene Glycol Methyl Ether Acetate Market Outlook, 2018 - 2031

3.1. Global Propylene Glycol Methyl Ether Acetate Market Outlook, by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. 99.5%
  - 3.1.1.2. 99.9%
3.2. Global Propylene Glycol Methyl Ether Acetate Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Solvents
  - 3.2.1.2. Cleaners
  - 3.2.1.3. Electronics
  - 3.2.1.4. Metal Finishing
  - 3.2.1.5. Pesticides
3.3. Global Propylene Glycol Methyl Ether Acetate Market Outlook, by Region, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Propylene Glycol Methyl Ether Acetate Market Outlook, 2018 - 2031

4.1. North America Propylene Glycol Methyl Ether Acetate Market Outlook, by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. 99.5%
  - 4.1.1.2. 99.9%
4.2. North America Propylene Glycol Methyl Ether Acetate Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Solvents
  - 4.2.1.2. Cleaners
  - 4.2.1.3. Electronics
  - 4.2.1.4. Metal Finishing
  - 4.2.1.5. Pesticides
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Propylene Glycol Methyl Ether Acetate Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.2. U.S. Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.3. Canada Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.4. Canada Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Propylene Glycol Methyl Ether Acetate Market Outlook, 2018 - 2031

5.1. Europe Propylene Glycol Methyl Ether Acetate Market Outlook, by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. 99.5%
  - 5.1.1.2. 99.9%
5.2. Europe Propylene Glycol Methyl Ether Acetate Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Solvents
  - 5.2.1.2. Cleaners
  - 5.2.1.3. Electronics
  - 5.2.1.4. Metal Finishing
  - 5.2.1.5. Pesticides
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Propylene Glycol Methyl Ether Acetate Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.2. Germany Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.3. U.K. Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.4. U.K. Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.5. France Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.6. France Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.7. Italy Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.8. Italy Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.9. Turkey Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.10. Turkey Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.11. Russia Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.12. Russia Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.13. Rest of Europe Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.14. Rest of Europe Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Propylene Glycol Methyl Ether Acetate Market Outlook, 2018 - 2031

6.1. Asia Pacific Propylene Glycol Methyl Ether Acetate Market Outlook, by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. 99.5%
  - 6.1.1.2. 99.9%
6.2. Asia Pacific Propylene Glycol Methyl Ether Acetate Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Solvents
  - 6.2.1.2. Cleaners
  - 6.2.1.3. Electronics
  - 6.2.1.4. Metal Finishing
  - 6.2.1.5. Pesticides
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Propylene Glycol Methyl Ether Acetate Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.2. China Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.3. Japan Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.4. Japan Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.5. South Korea Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.6. South Korea Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.7. India Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.8. India Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.9. Southeast Asia Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.10. Southeast Asia Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.11. Rest of Asia Pacific Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.12. Rest of Asia Pacific Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Propylene Glycol Methyl Ether Acetate Market Outlook, 2018 - 2031

7.1. Latin America Propylene Glycol Methyl Ether Acetate Market Outlook, by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. 99.5%
  - 7.1.1.2. 99.9%
7.2. Latin America Propylene Glycol Methyl Ether Acetate Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Propylene Glycol Methyl Ether Acetate Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.2. Brazil Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.3. Mexico Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.4. Mexico Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.5. Argentina Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.6. Argentina Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.7. Rest of Latin America Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.8. Rest of Latin America Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Propylene Glycol Methyl Ether Acetate Market Outlook, 2018 - 2031

8.1. Middle East & Africa Propylene Glycol Methyl Ether Acetate Market Outlook, by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. 99.5%
  - 8.1.1.2. 99.9%
8.2. Middle East & Africa Propylene Glycol Methyl Ether Acetate Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Solvents
  - 8.2.1.2. Cleaners
  - 8.2.1.3. Electronics
  - 8.2.1.4. Metal Finishing
  - 8.2.1.5. Pesticides
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Propylene Glycol Methyl Ether Acetate Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.2. GCC Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.3. South Africa Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.4. South Africa Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.5. Egypt Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.6. Egypt Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.7. Nigeria Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.8. Nigeria Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Propylene Glycol Methyl Ether Acetate Market by Purity, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Propylene Glycol Methyl Ether Acetate Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Manufacturer vs by Application Heatmap
9.2. Company Market Share Analysis, 2023
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Chang Chun Group
  - 9.4.1.1.Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. Shiny Chemical Industrial Company Ltd
- 9.4.3. KH Neochem Co.
- 9.4.4. Dow Chemical Company
- 9.4.5. Eastman Chemical Company
- 9.4.6. Royal Dutch Shell Plc
- 9.4.7. Yancheng Super Chemical
- 9.4.8. LyondellBasell

10. Appendix

10.1.Research Methodology
10.2.Report Assumptions
10.3.Acronyms and Abbreviations