Global 2-Methoxy-1-Propanol Market Size To Worth USD 422 Million By 2033 | CAGR of 5.76%
Category: Chemicals & MaterialsGlobal 2-Methoxy-1-Propanol Market Size To Worth USD 422 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global 2-Methoxy-1-Propanol Market Size is Expected to Grow from USD 241 Million in 2023 to USD 422 Million by 2033, at a CAGR of 5.76% during the forecast period 2023-2033.
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Browse key industry insights spread across 253 pages with 101 Market data tables and figures & charts from the report on the Global 2-Methoxy-1-Propanol Market Size, Share, and COVID-19 Impact Analysis, By Purity Level (Low Purity and High Purity), By Application (Solvents, Chemical Intermediates, Cleaning Agents, Coatings, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/2-methoxy-1-propanol-market
The 2-methoxy-1-propanol market is the market focusing on the chemical compound 2-methoxy-1-propanol, also known as propylene glycol monomethyl ether (PGME). Factors influencing the market include 2-methoxy-1-propanol's supply, demand, cost, manufacture, and distribution. Several factors influence it, including the demand from the sector, the availability of raw materials, regulatory requirements, and advancements in production technology. Growing environmental consciousness is forcing manufacturers to replace traditional solvents with more environmentally friendly alternatives, which is driving the growth of 2 methoxy 1 propanol market. The growth in vehicle production is expected to fuel demand for paints and coatings that contain 2-methoxy-1-propanol as a key constituent. One of the primary factors driving the 2 methoxy 1 propanol market is the paints and coatings industry's rapid expansion. The market is driven by the pharmaceutical industry's ongoing research and development, which is likely to uncover new applications for 2 methoxy 1 propanol market. However, the price fluctuation of raw materials, which can affect production costs and profit margins, is one of the main factors that restrict the market.
The high purity segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the purity level, the 2-methoxy-1-propanol market is classified into low purity and high purity. Among these, the high purity segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The high-purity 2 methoxy 1 propanol is widely utilized in industries like electronics and pharmaceuticals that have strict quality requirements.
The solvents segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the 2-methoxy-1-propanol market is divided into solvents, chemical intermediates, cleaning agents, coatings, and others. Among these, the solvents segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The 2-methoxy-1-propanol solvent is a popular option in the manufacture of paints, coatings, and medications due to its exceptional solvency, low toxicity, and environmental friendliness.
North America is estimated to hold the largest share of the 2-methoxy-1-propanol market over the forecast period.
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North America is estimated to hold the largest share of the 2-methoxy-1-propanol market over the forecast period. The United States is a major consumer of 2-methoxy-1-propanol because of large pharmaceutical and electronics manufacturing industries. The continuous advancements in these businesses are expected to drive the regional market growth.
Asia Pacific is estimated to hold a significant share of the 2-methoxy-1-propanol market over the forecast period. The region's robust manufacturing base, growing infrastructure investments, and technological advancements are driving the demand for solvents and chemical intermediates. The region's growing paint & coatings, electronics, and pharmaceutical industries are key factors driving market growth.
Major key players in the 2-methoxy-1-propanol market include Arkema Group, Oxea GmbH, Shell Chemicals, Solvay S.A., Eastman Chemical Company, INEOS Group Holdings S.A., Celanese Corporation, Kraton Corporation, Sasol Limited, Perstorp Holding AB, Dow Chemical Company, Huntsman Corporation, Kuraray Co., Ltd., LyondellBasell Industries, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the 2-methoxy-1-propanol market based on the below-mentioned segments:
Global 2-Methoxy-1-Propanol Market, By Purity Level
- Low Purity
- High Purity
Global 2-Methoxy-1-Propanol Market, By Application
- Solvents
- Chemical Intermediates
- Cleaning Agents
- Coatings
- Others
Global 2-Methoxy-1-Propanol Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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