Global Dipropylene Glycol Dpg Market Overview
The Dipropylene Glycol Dpg Market Size was estimated at 4.07 (USD Billion) in 2022. The Dipropylene Glycol Dpg Industry is expected to grow from 4.2(USD Billion) in 2023 to 5.6 (USD Billion) by 2032. The Dipropylene Glycol Dpg Market CAGR (growth rate) is expected to be around 3.24% during the forecast period (2024 - 2032).
Key Dipropylene Glycol Dpg Market Trends Highlighted
The Dipropylene Glycol (DPG) market is experiencing significant growth due to increasing demand from various end-use industries. Key market drivers include rising demand from the automotive, construction, and coatings industries, where DPG is used as a solvent and diluent. The market is also driven by the growing demand for DPG in the production of unsaturated polyester resins, which are used in composite materials and fiberglass-reinforced plastics.Opportunities for exploration and capture in the DPG market lie in the development of bio-based and renewable DPG alternatives to meet sustainability goals. The market is also expected to benefit from the increasing adoption of DPG in solvent-based applications, as well as in the pharmaceutical and personal care industries.Recent market trends include the growing demand for high-purity DPG, as well as the emergence of new applications in the electronics and semiconductor industries. The market is expected to continue to expand in the coming years, driven by increasing demand from key end-use industries and the development of new applications and technologies.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Dipropylene Glycol Dpg Market Drivers
Increasing Demand from the Coatings Industry
Dipropylene glycol (DPG) is a key raw material used in the production of coatings, such as paints, inks, and adhesives. The growing demand for coatings in various end-use industries, including automotive, construction, and packaging, is driving the growth of the Dipropylene Glycol (DPG) Market Industry. DPG imparts desirable properties to coatings, such as improved adhesion, flexibility, and resistance to chemicals and solvents. The increasing adoption of water-based coatings, which use DPG as a coalescing agent, is further fueling the demand for DPG in the coatings industry.
Expansion of the Personal Care and Cosmetics Industry
Dipropylene glycol is extensively used in the personal care and cosmetics industry as a humectant, solvent, and emollient. It helps retain moisture in the skin care products, making them more effective and eliminating their chances of drying out. With the increasing preferences for personal and grooming products along with the rising popularity of natural and organic ingredients, the DPG market is witnessing significant growth in this domain.In addition, DPG is used in hair care, such as shampoos and conditioners, as a conditioning agent to enhance hair manageability.
Growing Adoption in the Pharmaceutical Industry
In the pharmaceutical industry, DPG is used as a solvent, plasticizer, and carrier of active pharmaceutical ingredients. However, its major application pertains to liquid and semi-solid dose forms, including syrups, suspensions, ointments, and the like. As the demand for pharmaceuticals grows, and drugs are expected to become even more efficient and safe, the demand for excipients, such as DPG, is expected to grow. In addition, DPG contributes to the improvement of API's solubility, stability, and pharmacological action, making it an invaluable element in a drug preparation.
Dipropylene Glycol Dpg Market Segment Insights
Dipropylene Glycol Dpg Market Application Insights
The Dipropylene Glycol market segmentation by application includes Polyurethane and Polyester Resins, Unsaturated Polyester Resins, Polyurethane Foam, Electronics Grade, and Pharmaceutical Grade. Among these segments, the Polyurethane and Polyester Resins segment not only occupied the largest share of the market in 2023 but are also predicted to remain dominating thereby throughout the forecast period. This fact can be explained by the widespread use of DPG as raw material in the production of polyurethane and polyester resins, which, in their turn, are extensively used in such industries, as automotive, construction, and furniture.As for the Unsaturated Polyester Resins segment, this application is the second largest. Unsaturated polyester resins are widely used to produce fiberglass-reinforced plastics, which find application in many industries, such as marine, automotive, and construction. The increasing demand for such plastics is expected to contribute to the growth of vendor share in the application segment. The Polyurethane Foam segment is also likely to exhibit significant growth. The demand for polyurethane foam in multiple applications, such as insulation, cushioning, and packaging, is increasing, and this tendency will definitely influence the growth of the given segment.Finally, the Electronics Grade segment is a prominent one, as well. DPG is used to produce capacitors, resistors, and other electronic components. The growing demand for electronic g devices will trigger the growth of the vendor share. The pharmaceutical-grade segment is likely to exhibit stable growth. The material is used as a solvent and grague in the production of numerous pharmaceuticals, and the increasing demand for the final products will lead to the growing demand for raw materials.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Dipropylene Glycol Dpg Market Grade Insights
The Dipropylene Glycol (DPG) Market is segmented by Grade into Technical Grade, Pharmaceutical Grade, and Electronics Grade. The Technical Grade segment held the largest market share in 2023, owing to its wide range of applications in industries such as paints and coatings, adhesives, and personal care products. The Pharmaceutical Grade segment is projected to witness a significant growth rate during the forecast period due to the increasing demand for Dipropylene Glycol Dpg in the pharmaceutical industry for the production of drugs and excipients.The Electronics Grade segment is anticipated to grow steadily over the coming years due to the rising demand for Dipropylene Glycol Dpg in the electronics industry for the manufacturing of electronic components and devices.
Dipropylene Glycol Dpg Market End-Use Insights
The end-use segment of the Dipropylene Glycol (DPG) Market is categorized into Automotive, Construction, Electronics, Pharmaceuticals, and Personal Care. The Pharmaceuticals segment held the largest market share of over 30% in 2023 and is expected to maintain its dominance throughout the forecast period. The Electronics segment is projected to exhibit the highest CAGR of 4.2% from 2023 to 2032, driven by the increasing demand for Dipropylene Glycol Dpg in the production of printed circuit boards, capacitors, and other electronic components.The Personal Care segment is also expected to witness significant growth due to the rising use of Dipropylene Glycol Dpg in the manufacturing of cosmetics, toiletries, and personal care products. The Construction segment is primarily driven by the application of Dipropylene Glycol Dpg as a solvent in paints, coatings, and adhesives. The Automotive segment is anticipated to experience steady growth owing to its use as a brake fluid, coolant, and antifreeze in vehicles.
Dipropylene Glycol Dpg Market Form Insights
The liquid form of Dipropylene Glycol DPG Market dominates the market in terms of revenue, accounting for nearly 85% of the total market share in 2023. The dominance of the liquid form can be attributed to its versatility and wide range of applications across various industries. Liquid Dipropylene Glycol Dpg Market is commonly used as a solvent, humectant, and coupling agent in numerous applications, including paints and coatings, personal care products, food and beverages, and pharmaceuticals. The growing demand for the liquid Dipropylene Glycol DPG market in these industries is expected to drive the growth of the liquid segment in the Dipropylene Glycol (DPG) Market.
Dipropylene Glycol Dpg Market Regional Insights
The Dipropylene Glycol (DPG) Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period. The growth in this region can be attributed to the increasing demand for dipropylene glycol from the automotive and construction industries. Europe is expected to be the second largest market for dipropylene glycol, owing to the growing demand from the personal care and cosmetics industry. The APAC region is expected to witness the highest growth rate during the forecast period due to the increasing demand from the emerging economies of China and India.South America and MEA are expected to be the smallest markets for dipropylene glycol due to the lower demand from these regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Dipropylene Glycol Dpg Market Key Players And Competitive Insights
Major players in the Dipropylene Glycol DPG market industry are constantly striving to gain a competitive edge in the market. Leading Dipropylene Glycol DPG market players are focusing on developing innovative products and technologies to cater to the evolving needs of customers. Moreover, Dipropylene Glycol DPG market companies are also implementing strategic initiatives such as mergers, acquisitions, and partnerships to strengthen their market position. The Dipropylene Glycol DPG market industry is highly competitive, with a number of key players vying for market share. Some of the major players in the Dipropylene Glycol DPG market include BASF, Dow, ExxonMobil, and Shell. These companies are investing heavily in research and development to develop new and improved products. They are also expanding their production capacities to meet the growing demand for Dipropylene Glycol Dpg.One of the leading companies in the Dipropylene Glycol DPG market is BASF. BASF is a chemical company that offers a wide range of products, including Dipropylene Glycol Dpg. BASF is committed to innovation and sustainability, and it has a strong track record of developing new and improved products. The company is also expanding its production capacity to meet the growing demand for Dipropylene Glycol Dpg. Another major player in the Dipropylene Glycol DPG market is Dow. Dow is a chemical company that offers a wide range of products, including Dipropylene Glycol Dpg. Dow is committed to innovation and sustainability, and it has a strong track record of developing new and improved products. The company is also expanding its production capacity to meet the growing demand for Dipropylene Glycol Dpg.A key competitor in the Dipropylene Glycol DPG market is ExxonMobil. ExxonMobil is a oil and gas company that also offers a wide range of chemicals, including Dipropylene Glycol Dpg. ExxonMobil is committed to innovation and sustainability, and it has a strong track record of developing new and improved products. The company is also expanding its production capacity to meet the growing demand for Dipropylene Glycol Dpg.
Key Companies in the Dipropylene Glycol Dpg Market Include
- INEOS Group Limited
- The Dow Chemical Company
- ExxonMobil Corporation
- LyondellBasell Industries Holdings B.V.
- BASF SE
- Eastman Chemical Company
- Mitsui Chemicals, Inc.
- Covestro AG
- Evonik Industries AG
- Mitsubishi Chemical Holdings Corporation
- Dow Chemical Company
- Nippon Shokubai Co., Ltd.
- TotalEnergies SE
- SABIC
- Shell
Dipropylene Glycol Dpg Market Industry Developments
The Dipropylene Glycol (DPG) market has witnessed steady growth in recent years, driven by increasing demand from various end-use industries. In 2023, the market was valued at approximately USD 4.2 billion and is projected to reach USD 5.6 billion by 2032, exhibiting a CAGR of 3.24%. The market growth is attributed to rising demand for DPG in the production of unsaturated polyester resins, paints and coatings, and personal care products.Recent developments in the DPG market include the expansion of production capacities by key players. For instance, in 2023, BASF announced plans to invest USD 100 million to increase its DPG production capacity in China. Additionally, the growing adoption of bio-based DPG, driven by environmental concerns and government regulations, is expected to create new opportunities in the market.
Dipropylene Glycol Dpg Market Segmentation Insights
Dipropylene Glycol Dpg Market Application Outlook
- Polyurethane and Polyester Resins
- Unsaturated Polyester Resins
- Polyurethane Foam
- Electronics Grade
- Pharmaceutical Grade
Dipropylene Glycol Dpg Market Grade Outlook
- Technical Grade
- Pharmaceutical Grade
- Electronics Grade
Dipropylene Glycol Dpg Market End Use Outlook
- Automotive
- Construction
- Electronics
- Pharmaceuticals
- Personal Care
Dipropylene Glycol Dpg Market Form Outlook
Dipropylene Glycol Dpg Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
4.07(USD Billion) |
| Market Size 2023 |
4.2(USD Billion) |
| Market Size 2032 |
5.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.24% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
INEOS Group Limited, The Dow Chemical Company, ExxonMobil Corporation, LyondellBasell Industries Holdings B.V., BASF SE, Eastman Chemical Company, Mitsui Chemicals, Inc., Covestro AG, Evonik Industries AG, Mitsubishi Chemical Holdings Corporation, Dow Chemical Company, Nippon Shokubai Co., Ltd., TotalEnergies SE, SABIC, Shell |
| Segments Covered |
Application, Grade, End Use, Form, Regional |
| Key Market Opportunities |
Growing demand for personal care paints and coatings pharmaceuticals |
| Key Market Dynamics |
Rising demand for polyurethane Increasing use in personal care Growing demand in automotive industry Expansion of downstream industries Innovations in production technology |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
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Frequently Asked Questions (FAQ) :
The Dipropylene Glycol (DPG) Market is expected to reach USD 5.6 billion by 2032, exhibiting a CAGR of 3.24% during the forecast period (2024-2032).
North America is anticipated to dominate the DPG Market throughout the forecast period. This dominance is attributed to the region's growing construction, automotive, and pharmaceutical industries.
DPG finds applications in a wide range of industries, including construction (as a solvent in paints and coatings), automotive (as a brake fluid and antifreeze), and pharmaceuticals (as an excipient).
Key players in the DPG Market include BASF SE, Dow Chemical Company, LyondellBasell Industries Holdings B.V., SABIC, and Shell plc.
The growth of the DPG Market is primarily driven by rising demand from the construction industry, particularly in emerging economies. Additionally, increasing use of DPG in the automotive and pharmaceutical industries is contributing to market expansion.
The DPG Market faces challenges such as fluctuations in raw material prices, stringent environmental regulations, and competition from alternative solvents.
The DPG Market is projected to grow at a CAGR of 3.24% during the forecast period (2024-2032).
Key trends shaping the DPG Market include increasing focus on sustainability, growing demand for bio-based DPG, and technological advancements in DPG production processes.
The COVID-19 pandemic had a moderate impact on the DPG Market. While demand from certain industries, such as construction, declined during lockdowns, demand from other industries, such as pharmaceuticals, remained strong.
The future outlook for the DPG Market is positive, with steady growth expected over the next decade. Growing demand from emerging economies and increasing adoption of DPG in various applications will drive market expansion.
