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The global propylene glycol market is being driven by the growth of the market in the Asia Pacific region, which accounts for more than 40% of global consumption of the product. The region has a large consumer base for the product, with China being the largest consumer market in the Asia Pacific. The Asia Pacific region also supplies a significant volume of propylene glycol, being the net exporter of the product within the region, exporting to other Asian countries like Thailand, Singapore, China, and Korea. If the intra trade to these countries is not included, then the Asia Pacific region is one of the net importers of the product and is expected to import more propylene glycol from the United States and the Middle East in the coming years.
Dow Inc (NYSE: DOW), one of the key players in the industry, is a significant producer of propylene glycol. The company has its presence in all the major regions globally, including Latin America. Dow is also fully backward integrated both in terms of primary as well as secondary feedstock, that is, PO and propylene. The capacity expansion by the company at Jubail Industrial, Saudi Arabia, has also aided the company in increasing its footprint in the lucrative the Middle East propylene glycol market.
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The major key players in the global propylene glycol market include Dow Chemical Company, LyondellBasell Industries N.V., INEOS Group, Shell Chemicals LP, BASF SE, SKC Chemicals Group, Sumitomo Chemical Co., Ltd, Archer Daniels Midland Company, and Repsol S.A., among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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