The global dipropylene glycol n-propyl ether market size is projected to reach USD 4.4 million by 2025, expanding at a CAGR of 8.2% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for the product in the manufacturing of environment-friendly latex paint and detergents is anticipated to drive the market in the near future.
Consumption of dipropylene glycol n-propyl ether (DPnP) is majorly driven by its use in manufacturing industrial and laundry detergents. The demand for laundry detergents is anticipated to grow significantly over the coming years due to expanding textile industry and increasing penetration of washing machines in the urban population of developing economies.
The consumption of dipropylene glycol n-propyl ether in end-use industries, particularly latex paint, is restricted due to easy availability of a wide range of substitute solvents such as acetone, diethylene glycol monoethyl ether, and ethylbenzene. Furthermore, there are limited DPnP manufacturers in the market compared to its substitutes, which further encourages the use of its substitute products.
Fluctuations in crude oil prices are anticipated to have a significant impact on the production cost of propylene oxide which is a vital raw material for the manufacturing of dipropylene glycol n-propyl ether. Moreover, propylene oxide and DPnP market are highly dominated by multinational players across the globe which has resulted in high entry barriers for a new entrant in the sector.
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Further key findings from the report suggest:
The DPnP market is majorly dominated by detergent application, which accounted for the global volume share of 48.9% in 2018 on account of superior cleaning properties of the product
Consumption of the product in formulation of latex paint is anticipated to grow at the rate of 6.1%, in terms of volume, over the forecast period on account of supportive regulations for the manufacturing of low Volatile organic compounds (VOC) paint
Asia Pacific was the largest consumer of the product with a revenue share of 41.4% in 2018
Europe is anticipated to witness a revenue-based CAGR of 7.4% from 2019 to 2025 on account of growing rising construction activities which is anticipated to create significant demand for paints in near future
Leading players in the industry such as Eastman Chemical Company, LyondellBasell Industries Holdings B.V. and The Dow Chemical Company are focused on developing innovative and application specific products, which is resulting in high competition. This provides very less opportunity for new entrants to penetrate in the market.
Grand View Research has segmented the global dipropylene glycol n-propyl ether market on the basis of application and region:
Dipropylene Glycol N-Propyl Ether Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Dipropylene Glycol N-Propyl Ether Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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