Market size analysis pgmea chemical products in China

Pgmea, also known as propylene glycol monomethyl ether acetate, has a molecular formula of C6H12O3. It is a colorless, hygroscopic liquid with a special smell. It is mainly made of acetic acid and propylene glycol methyl ether as the main raw materials and is directly esterified under the catalysis of concentrated sulfuric acid. pgmea chemical products have a wide range of applications and are mostly used to produce paints, inks, printing, pesticides, inks, liquid crystal display cleaning agents, textile oil solvents, etc.

From the downstream of the industrial chain, coatings have become the largest application field of pgmea, with a market share of 41.6%; followed by the ink field, with a market share of 32.5%; and the third is the electronics field, with a market share of 20.7%.

At present, China's economic level is gradually improving, the urban population is gradually increasing, and the number of buildings and high-end communities is gradually increasing. However, due to the severe impact on the real estate market in recent years, the market size has gradually shrunk. According to data released by the National Bureau of Statistics, in 2022, the completed area of house construction in China was 4.055 billion square meters, a year-on-year decrease of 0.69%.

As an affiliated industry of the real estate market, the coating market has also been affected to a certain extent. Against this background, China's coating production has gradually declined. According to data released by the China Coatings Industry Association, in 2022, the total output of China's coating industry was about 34.88 million tons, a year-on-year decrease of 8.5%; the main business income was about 452.50 billion yuan, a year-on-year decrease of 5.2%. As an important raw material for the production of coatings, the market of pgmea chemical products has also been affected to a certain extent.

The research report shows that at this stage, China's pgmea chemical products production technology has gradually improved, the comprehensive performance has gradually improved, the application field has gradually expanded, and it has gradually developed into semiconductor, photoresist substrate, copper clad laminate and other markets, and the market demand has gradually increased. Against this background, the scale of China's pgmea market has shown a trend of year-on-year growth. From 2015 to 2022, the scale of China's pgmea market has increased from 2.261 billion yuan to 3.397 billion yuan, with an average annual compound growth rate of 5.99%.

Industry analysts said that China's pgmea market concentration is high, and leading enterprises are gradually emerging. With the continuous development of China's PGMEA industry, the production capacity structure is gradually upgraded, and backward production capacity is gradually eliminated. Its market concentration is expected to further increase in the future.