Mono Propylene Glycol (MPG) Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Mono Propylene Glycol (MPG) Prices June 2023
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Product
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Category | Region | Price |
|---|---|---|---|
| Mono Propylene Glycol (MPG) | Petrochemicals | USA | 3272 USD/MT |
| Mono Propylene Glycol (MPG) | Petrochemicals | China | 175751 USD/MT |
| Mono Propylene Glycol (MPG) | Petrochemicals | Germany | 3255 USD/MT |
The price of mono propylene glycol (MPG) in the USA reached 3272 USD/MT in June 2023.
The price trend for mono propylene glycol (MPG) in China touched 175751 USD/MT in June 2023.
In Germany, mono propylene glycol (MPG) prices reached 3255 USD/MT in June 2033.
Mono Propylene Glycol (MPG) Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Mono Propylene Glycol (MPG) Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of mono propylene glycol (MPG) pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot price of mono propylene glycol (MPG) at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of mono propylene glycol (MPG) price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing mono propylene glycol (MPG) price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Mono Propylene Glycol (MPG) Market Analysis
The global mono propylene glycol (MPG) market size reached US$ 3.7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 5.7 Billion, at a projected CAGR of 4.80% during 2023-2032.
- The food and beverages (F&B) industry makes use of mono propylene glycol (MPG) as a humectant, preservative, and flavor carrier. This product’s demand is rising because of the hike in consumption of processed and convenience foods. The market for convenience food products is expected to touch US$ 782.7 billion by 2032, with a yearly pace of 5.47%. Mono propylene glycol has the ability to maintain moisture, improve texture, and stabilize flavors, which makes it an important ingredient in many food products, like baked goods, snacks, and beverages. Additionally, the rising popularity of ready-to-eat (RTE) meals, which is growing rapidly to reach US$ 262.4 billion by 2032, and the expansion of the food processing industry are propelling the demand for MPG in these sectors.
- MPG is an important ingredient in the pharmaceutical and cosmetic industries because of its low toxicity and excellent solubility. It is used as a solvent in oral, injectable, and topical medications. This product is also employed in personal care items like lotions, creams, and deodorants. The rising product demand in the personal care industry, which shows a yearly growth of 4.5%, is also impacting the demand for mono propylene glycol. Also, there is a hike in consumer knowledge about personal grooming and the prevalence of chronic diseases that need continuous medication.
- MPG is a primary ingredient in e-cigarette and vaping liquids as it is known to act as a carrier for nicotine and flavors. The rapid growth of the e-cigarette and vaping market, driven by the increasing number of smokers switching to these alternatives, is majorly boosting the demand for MPG. The industry for e-cigarettes is known to touch US$ 38.8 billion by 2032. MPG’s ability to produce a smooth vapor without harmful effects makes it a preferred choice in this industry. Moreover, the introduction of new flavors and the expansion of the vaping market in regions like Asia-Pacific and Europe contribute to the rising demand for MPG. As per an industry report, in 2023, 20.5% of children in Europe had tried vaping, which is up from 15.8% in 2022. The majority of this group had only vaped once or twice, while 7.6% were currently vaping.
- The pet food industry’s growth due to increasing pet ownership and spending on pet care is a significant driver for the market’s expansion. MPG is used as a humectant and preservative in pet food to maintain moisture and extend shelf life. With the growth of the pet food industry, which is rising at an annual rate of 4.6%, the market for mono propylene glycol is also surging. Also, the escalating demand for premium and organic pet food products, which require high-quality ingredients, is boosting the use of MPG.
Mono Propylene Glycol (MPG) News
The report covers the latest developments, updates, and trends impacting the global mono propylene glycol (MPG) market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in mono propylene glycol (MPG) production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the mono propylene glycol (MPG) price trend.
Latest developments in the mono propylene glycol (MPG) industry:
- In April 2024, State-owned GAIL (India) Ltd proposed its plan to lay an ethylene/propylene (C2/C3) liquid pipeline from its gas processing complex at Vijaipur in the central Madhya Pradesh state to its Pata petrochemical complex at Auraiya in the northern Uttar Pradesh state. The proposed project is expected to cost Indian rupees (Rs) 17.9bn ($215m) and will be commissioned within 32 months.
- In May 2024, SHELL Singapore agreed to selling all its interest in Energy and Chemicals Park to CAPGC, a joint venture between commodity trader Glencore’s unit Glencore Asian Holdings and Chandra Asri Capital. The latter is a unit of Indonesia’s largest integrated petrochemical company, Chandra Asri. Shell’s Singapore subsidiary’s total interest in the agreement with CAPGC includes both commercial contracts and physical assets that comprise its integrated refining and chemicals assets on Pulau Bukom and Jurong Island.
Product Description
Mono propylene glycol (MPG), also known as propylene glycol or 1,2-propanediol, is a colorless, odorless, and slightly viscous liquid. It is available in industrial grade and pharmaceutical (USP/EP) grade. Mono propylene glycol exhibits key properties, including a high boiling point, low toxicity, and excellent solvency. It is manufactured using propylene oxide, which reacts with water to form the final product. Mono propylene glycol finds application in antifreeze and de-icing solutions, food additives, cosmetics, pharmaceuticals, e-cigarette liquids, hydraulic fluids, pet food, and as a solvent in various formulations. It is also used in the production of plastics, resins, and polyester fibers.
Mono propylene glycol offers numerous benefits, such as low toxicity, excellent solvency, moisture retention properties, and the ability to lower the freezing point of water. Moreover, it is lauded for its biodegradability, non-corrosiveness, non-carcinogenic nature, thermal stability, compatibility with other chemicals, and effectiveness as a humectant and preservative.
Regional Coverage
The report provides a detailed analysis of the mono propylene glycol (MPG) market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the mono propylene glycol (MPG) price trend.
Global Mono Propylene Glycol (MPG) Price
The report offers a holistic view of the global mono propylene glycol (MPG) pricing trends in the form of mono propylene glycol (MPG) price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of mono propylene glycol (MPG) but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed mono propylene glycol (MPG) demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe Mono Propylene Glycol (MPG) Price
European mono propylene glycol (MPG) prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.
This analysis can be extended to include detailed mono propylene glycol (MPG) price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Mono Propylene Glycol (MPG) Price
The analysis of mono propylene glycol (MPG) prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.
Specific mono propylene glycol (MPG) historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada. |
Middle East and Africa Mono Propylene Glycol (MPG) Price
The report explores the mono propylene glycol (MPG) pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on mono propylene glycol (MPG) prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Mono Propylene Glycol (MPG) Price
The mono propylene glycol (MPG) pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.
This mono propylene glycol (MPG) price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Mono Propylene Glycol (MPG) Price
The analysis of mono propylene glycol (MPG) prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Mono Propylene Glycol (MPG) |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Mono Propylene Glycol (MPG) Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
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| Customization Scope | The report can be customized as per the requirements of the customer |
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Plan A: Monthly Updates - Annual Subscription
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| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of mono propylene glycol (MPG) pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting mono propylene glycol (MPG) price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The mono propylene glycol (MPG) price charts ensure our clients remain at the forefront of the industry.
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