South Korea Polypropylene Glycol Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 0.8 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
The South Korea Polypropylene Glycol Market is experiencing significant growth, driven by its increasing demand across various industries. Polypropylene Glycol (PPG) is a versatile compound used in a wide range of applications, including the production of polyurethane foams, lubricants, coatings, and as a base in personal care products. The market’s expansion can be attributed to the growing industrial needs and the increasing recognition of PPG's benefits in a multitude of sectors.
The demand for Polypropylene Glycol in South Korea is largely driven by the chemical, automotive, and construction industries. In the chemical sector, PPG is used in manufacturing specialty chemicals like surfactants, solvents, and emulsifiers. Automotive manufacturers, on the other hand, rely on PPG as a component in lubricants and coatings, ensuring enhanced durability and performance of vehicles. In the construction industry, PPG's role as a component in paints and coatings enhances the longevity and aesthetic appeal of buildings and structures.
Furthermore, the rise in environmental awareness has prompted industries to seek more eco-friendly and efficient materials, driving the demand for PPG. The market is expected to witness a surge in demand from the polyurethane foam sector, particularly for the production of flexible and rigid foams used in insulation and cushioning materials.
PPG's role in the personal care industry also cannot be overlooked, with its inclusion in a variety of products such as shampoos, conditioners, and skin creams. Its properties as a moisturizer and emollient make it highly sought after in cosmetic formulations. Additionally, the increasing focus on health and wellness further boosts the demand for Polypropylene Glycol in these applications.
The South Korean market for Polypropylene Glycol is also seeing increased competition among manufacturers, which is driving innovation and improvements in production efficiency. This competitive environment is pushing for better quality products and more sustainable manufacturing processes, ultimately benefiting end-users across various industries.
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KKPC
Mitsui Chemical
BASF
Dow
AGC
Shell
Covestro
Ineos
Sanyo Chemical
Jiangsu Haian Petrochemical
Zhejiang Huangma
Zibo Yunchuan Chemical
Sungda Chemical
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Polypropylene Glycol Market
Propylene Glycol
Polypropylene Glycol 200
Polypropylene Glycol 400
Polypropylene Glycol 1025
Polypropylene Glycol 2000
Personal Care Products
Pharmaceuticals
Food and Beverage
Demulsifiers and Surface Active Agents
Industrial Applications
Construction
Humectants
Solvents
Emulsifiers
Thickeners
Dispersion Agents
Cosmetics and Personal Care
Food Industry
Automotive
Agriculture
Construction
Textiles
Liquid Polypropylene Glycol
Solid Polypropylene Glycol
Powdered Polypropylene Glycol
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Polypropylene Glycol Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Polypropylene Glycol Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Polypropylene Glycol Market, By Type
6. South Korea Polypropylene Glycol Market, By Application
7. South Korea Polypropylene Glycol Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Polypropylene Glycol Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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