Global Dipropylene Glycol Market Poised for Steady Growth Amidst Regional Developments
The Global Dipropylene Glycol (DPG) Market is on a trajectory of steady growth, driven by its extensive applications across various industries. Valued at approximately USD 5.71 billion in 2024, the market is projected to expand at a Compound Annual Growth Rate (CAGR) of 2.4% during the forecast period leading up to 2030.
Competitive Landscape and Regional Demand
The DPG market is characterized by a mix of global and regional players striving to enhance their market positions. The Asia-Pacific region dominated the worldwide market in 2021 with a significant market share in terms of revenue and is projected to maintain its dominance during the forecast period of 2022-2027.
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United States: Dipropylene Glycol Market Trends
In the United States, the demand for DPG is primarily driven by its applications in the cosmetics and personal care industries. The country's robust manufacturing sector and consumer base have led to increased consumption of DPG in products such as perfumes, skin care items, and hair care formulations. However, specific recent mergers and acquisitions within the U.S. DPG market have not been prominently reported.
Segmentation Analysis
by Grade
Industrial Grade
Cosmetics Grade
It has been noted that industrial grade dipropylene glycol makes up over 40% of the market's supply. The demand for cosmetic-grade dipropylene glycol has increased by 2.6% as a result of a rise in demand for body care products.
by Application
Perfumes
Plasticizers
Insecticides
Polymerization Initiator
Paints & Coatings
Others
It has been noted that the industrial sector uses more than 35% of the dipropylene glycol produced to make plastic. The chemical sector has reported a 3.1% increase in demand for dipropylene glycol. The cosmetics industry's demand for dipropylene glycol has increased by 3% as a result of consumers' growing preference for cosmetics and personal care items.
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Key Market Participants:
1. BASF SE
2. NEI Corporation
3. The 3M Company
4. Umicore N.V.
5. Johnson Matthey
6. Targray Technologies International Inc.
7. Sumitomo Corporation
8. Toda Kogyo Corporation
9. Hitachi Chemical Energy Technology Co., Ltd.
10. Showa Denko K.K.
11. Kureha Corporation
12. Mitsubishi Chemical Corporation
13. Gravita India Ltd.
14. Mitsui Mining and Smelting Co., Ltd.
15. Pulead Technology Industry Co. Ltd.
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