In the first half of 2023, the polypropylene glycol market across Asia Pacific, Europe, and North America exhibited fluctuations due to varying feedstock dynamics and sector demands. In Asia, feedstock propylene glycol's price changes influenced polypropylene glycol prices, bolstered by pharmaceutical and cosmetic sector demand in Q1, but slowed by reduced orders and demand in Q2. Europe saw mixed trends due to low demand, high stocks, and tight supply dynamics, while North America experienced oscillating trends tied to feedstock costs and strong demand from pharmaceutical industries. Rising inflation and interest rates in Q2 posed challenges, leading to declining polypropylene glycol price forecast.
Definition
Polypropylene glycol (PPG) is a synthetic polymer consisting of repeating propylene oxide units. It's a clear, viscous liquid with a slightly sweet taste and is soluble in water. PPG exhibits low toxicity and is chemically stable. It possesses lubricating and hygroscopic properties, making it suitable for various applications. PPG is utilized as a polyol in polyurethane formulations, in personal care products for its humectant properties, as a base material in lubricants and hydraulic fluids, and in various chemical processes due to its versatility and functional characteristics.
Key Details About the Polypropylene Glycol Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Polypropylene Glycol in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
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Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Polypropylene Glycol Price chart, including India Polypropylene Glycol price, USA Polypropylene Glycol price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Polypropylene Glycol Price Trend:
Polypropylene glycol (PPG), a versatile polymer derived from propylene oxide, is used extensively in various industries due to its desirable properties such as low toxicity, high lubricity, and solubility in water. The price trends of polypropylene glycol are influenced by a range of factors linked to its industrial applications, raw material costs, supply chain dynamics, and regulatory impacts. Below are some key industrial uses that significantly impact the price trends of PPG:
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Pharmaceuticals and Cosmetics: PPG is widely used as a solvent, carrier, and moisture-preserver in the production of pharmaceuticals and cosmetics. It helps in enhancing the texture and stability of formulations. As the demand in the healthcare and beauty sectors grows, particularly in emerging markets, this drives up the demand for PPG, potentially affecting its prices.
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Food and Beverage Industry: In the food industry, PPG serves as a humectant, solvent, and preserver. The growth in processed foods and convenience food products can lead to increased demand for PPG, influencing its market price.
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Automotive Industry: PPG is utilized in automotive fluids, including brake fluids and antifreeze. The automotive industry's health, including production rates of vehicles and the development of new models that require PPG-based products, can significantly influence PPG demand and prices.
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Construction: PPG is used in the construction industry as a component in sealants, adhesives, and coatings, contributing to durability and moisture resistance. Trends in construction activity, particularly in residential and commercial building sectors, directly impact the demand for these products and, by extension, PPG.
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Textiles: In textiles, PPG is used in dyeing and as a finish to improve the feel and durability of fabrics. Fluctuations in textile industry demand, driven by fashion cycles and global economic conditions, can affect PPG pricing.
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Chemical Intermediate: PPG acts as an intermediate in the synthesis of other chemical products, including polyurethanes, which are used in a vast range of products from mattresses to industrial foams. The growth in the polyurethane market can thus indirectly drive up PPG prices.
Supply Chain and Raw Materials: The price of propylene oxide, the key raw material for PPG, significantly affects the cost of PPG. Volatility in the crude oil market, from which propylene oxide is derived, can lead to fluctuations in PPG prices. Additionally, logistic factors such as transportation costs and supply chain efficiency also play critical roles.
Regulatory Factors: Environmental regulations and health guidelines concerning the use of chemicals can impact PPG production costs and market availability. Stricter regulations can lead to higher compliance costs or shift demand towards alternative, possibly more expensive materials.
Market Dynamics and Geopolitics: Global economic conditions, trade policies, and geopolitical events can also influence the supply and pricing of raw materials for PPG, affecting the overall cost dynamics of the chemical.
Understanding these factors is crucial for stakeholders in industries reliant on polypropylene glycol to anticipate price movements and make informed purchasing or investment decisions. Additionally, companies might look into developing alternative materials or more efficient production methods as a response to price trends, further influencing the market dynamics.
Key Players:
- Lyondell Basell Industries Holdings B.V.
- INEOS
- BASF SE
- Repsol
- Dow
News and recent development:
According to a government document reviewed by Reuters, India ordered pharma producers to stop using propylene glycol obtained from the Delhi-based company that provided the component to Marion Biotech, whose cough syrups were connected to the deaths of 19 children in Uzbekistan. In December, Uzbekistan claimed that Marion's cough syrups, Ambronol and DOK-1 Max, which were contaminated with unacceptable levels of diethylene glycol or ethylene glycol, caused the children's deaths.
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