Propylene Glycol Methyl Ether Acetate (PGMEA) Market size was valued at USD 1.2 Billion in 2024 and is projected to reach USD 1.9 Billion by 2033, exhibiting a CAGR of 6.5% from 2026 to 2033.
The global Propylene Glycol Methyl Ether Acetate (PGMEA) market was valued at approximately USD 1.2 billion in 2022 and is projected to expand at a Compound Annual Growth Rate (CAGR) of around 5.2% from 2023 to 2030. The demand for PGMEA is primarily driven by its applications in industries such as coatings, electronics, and pharmaceuticals, where it is used as a solvent for various processes. As of 2022, the Asia Pacific region accounted for the largest share of the market, contributing to around 40% of the global market revenue, owing to the significant industrial activity in countries like China, Japan, and South Korea. The increasing demand for electronic products and the rising adoption of PGMEA in semiconductor applications have further boosted the markets growth in this region.
North America and Europe follow closely, contributing 25% and 20% respectively to the global market share. The growth in these regions is supported by the demand for PGMEA in coating applications, especially in the automotive and construction industries. Latin America and the Middle East & Africa (MEA) are also expected to witness steady growth, with a projected CAGR of 4.5% and 4.8% respectively. The rising industrialization and infrastructure development in these regions present ample opportunities for market expansion. As industries look to adopt more efficient solvents and enhance production processes, the PGMEA market is poised to experience sustained growth across various regions, driven by both demand side factors and technological advancements in solvent applications.
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Dow
Shell Chemicals
LyondellBasell
Eastman Chemical
KH Neochem Co.
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. 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 Global Propylene Glycol Methyl Ether Acetate (PGMEA) Market
Coatings
Inks
Adhesives
Cleaners
Personal Care Products
Aerospace
Automotive
Electronics
Construction
Pharmaceuticals
Solvent-Based Formulations
Water-Based Formulations
Powder-Based Formulations
Direct Sales
Distributors and Dealers
Online Retail
Liquid PGMEA
Solid PGMEA
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Propylene Glycol Methyl Ether Acetate (PGMEA) 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. Global Propylene Glycol Methyl Ether Acetate (PGMEA) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Propylene Glycol Methyl Ether Acetate (PGMEA) Market, By Type
6. Global Propylene Glycol Methyl Ether Acetate (PGMEA) Market, By Application
7. Global Propylene Glycol Methyl Ether Acetate (PGMEA) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Propylene Glycol Methyl Ether Acetate (PGMEA) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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