(MENAFN- EIN Presswire)
propylene-glycol-methyl-ether-acetate (PGMEA)-market
Propylene Glycol Methyl Ether Acetate offers many advantages, issues pertaining to storage and transportation of PGMEA are mostly hindering its adoption.
NEW YORK CITY, NEW YORK, INDIA, February 11, 2022 /EINPresswire.com / -- A P-type glycol ether derivative , Propylene Glycol Methyl Ether Acetate (PGMEA) is used widely used as a solvent and surface adherent in semiconductor and electronics industry—in the form of inks, coatings and cleaners.
As per a recent market outlook by Persistence Market Research, the global Propylene Glycol Methyl Ether Acetate market is estimated register a slow-moving CAGR of 3.8% between 2018 and 2026, touching a market valuation of US$ 511.2 Mn by 2026. PMR's report assays key dynamics of the global Propylene Glycol Methyl Ether Acetate market including various trends, drivers, restrains, and opportunities shaping the market. Most importantly, PMR has analyzed the worldwide demand and supply situation of PGMEA.
Request For Report Sample@
The purity level of PGMEA mostly defines its application in different industries. PGMEA with 98 – 99% purity is generally used for used as solvents for paints, coatings, varnishes, cleaners and lacquers. While more than 99% purity PGMEA is mainly used in electronic industry. PGMEA with 98-99% purity is expected to witness lucrative growth opportunity between 2016 and 2026. On the other hand, PGMEA with more than 99% lies in the high growth-low value segment and is expected to tilt towards high growth-moderate value over the forecast period.
“Although, Propylene Glycol Methyl Ether Acetate offers many advantages, issues pertaining to storage and transportation of PGMEA are mostly hindering its adoption. PGE requires safe production and handling as it highly inflammable with low flash points of 45 °C. Under transportation regulations, PGMEA is classified as highly hazardous”, Principal Analyst, Chemicals Industry, Persistence Market Research
Get A Customized Scope To Match Your Need Ask An Expert –
Propylene Glycol Methyl Ether Acetate (PGMEA) Market
High Demand from Paints and Coatings Industry to Drive the Global PGMEA Market, Electronic Industry to Report Augmented PGMEA Demand
The paints and coating industry is expected to witness increased adoption of Propylene Glycol Methyl Ether Acetate in the coming years, where pigments are used as solvents for achieving the desired properties. The electronic industry is also likely to benefit from the PGMEA adoption, globally. Moreover, expanding construction activities across the globe will propel the paints and coatings market, further driving the adoption of PGMEA. Paints and coatings in the automotive industry, too has represented high growth in the recent years.
Since, PGMEA coatings provide high insulation resistance characteristics to electronics components and products, in turn, maintaining the quality and longevity of the products, demand for propylene glycol methyl ether acetate is expected to propel in the coming years, in the electronics industry. Additionally, advancing technological innovations in the electronics industry and growing trends pertaining to miniaturization and use of high density Printed Circuit Boards (PCBs), are expected to drive PGMEA consumption through 2026, globally.
Lastly, growing demand for agrochemical application will also drive PGMEA consumption, owing to its use as a solvent during the formulations of fertilizers, pesticides, biocides, and insecticides. Further, increasing global trend towards organic farming, propylene glycol methyl ether acetate consumption is likely to elevate, owing to its non-toxic nature.
Request Report Methodology@
PGMEA Market to Witness Cost Pressure Owing to Tipping PGMEA Supply
In the wake of planned and unplanned outages in the propylene glycol methyl ether acetate market, has resulted in skewed supply-demand scenario, creating an upward pressure on price. A major contributing to the shortage of PGMEA is the shutdown of Royal Dutch Shell Plc refinery in Rotterdam, Netherlands. This created an uncertain supply scenario of PGMEA in the European Market, in addition to creating pressure on other companies to meet the growing demand.
Tailor-Made Products and Capacity Expansion to Remain Key Forward Market Strategy
Since, PGMEA is used in several end-use industries, its application is mostly defined by the properties and characteristics it possesses. Key manufacturers have been focusing on improving the product mix and providing customized end products to cater to industry-specific requirements.
The electronic industry that is moving towards components miniaturization requires tailored products with particular properties and higher qualities. In the wake of ongoing competition among PGMEA manufacturers, especially in the European regions, production capacities expansion is the key strategy adopted by manufacturers to solidify their position in the PGMEA market, in addition to catering to the increasing worldwide demand of PGMEA.
For in-depth competitive analysis, buy now@
Company Profiles
LyondellBasell Industries Holdings N.V.
Royal Dutch Shell plc
DowDuPont Inc.
BASF SE
Eastman Chemical Company
Chang Chan Group
Manali Petrochemicals Limited
KH Neochem Co., Ltd
Shiny Chemical Industrial Company Limited
Jiangsu Baichuan High-tech New Materials Co., Ltd
Jiangsu Hualun Chemical Industry Co. Ltd.
Jiangsu Dynamic Chemical Co., Ltd.
Others.
Get similar report for Reference @
Related Reports
Gcc Activated Carbon Market
Guerbet Alcohols Market
About us:
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies'/clients' shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Atul Singh
PMR
+ +1 646-568-7751
email us here
Visit us on social media:
Twitter
LinkedIn
MENAFN10022022003118003196ID1103676192
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.