The global demand for Biobased Propylene Glycol Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Bio-based Propylene Glycol is a chemically neutral, safe, semi-viscous chemical liquid used in many foods, cosmetic and industrial applications. Bio-based propylene glycol is a plant-derived product through a catalytic process. It has high boiling and flash points, stability, and low-vapor pressure. Bio-based propylene glycol is known for its properties of reducing greenhouse gas emissions. It has a fruity aroma, which manufacturers use in cologne and perfume making. It has very low toxicity and comes under the Generally Recognized as Safe (GRAS) for food and pharmaceutical use. In addition, bio-based propylene glycol has applications in waste heat recovery, solar systems, and more.
Market Dynamics
Environmentally friendly methods of producing propylene glycol are key factors driving the surplus of the global bio-based propylene glycol market. In addition, due to its low freezing point, it is prominent as a coolant in the automotive industry. However, factors like fluctuations in raw material prices, reduced product differentiation of petroleum-based propylene glycol, the need for the large-scale initial investment to set up bio-based production facilities, lack of a universal enforcement policy for the application of bio-based propylene are restraining market growth over the forecast period. In addition, low catalyst stability and high risk of reactions during manufacturing are the major factors limiting the broadening of the bio-based propylene glycol market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of biobased propylene glycol. The growth and trends of biobased propylene glycol industry provide a holistic approach to this study.
Market Segmentation
This section of the biobased propylene glycol market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Application
- Unsaturated Polyester Resins
- Functional Fluids And Antifreeze Products
- Pharmaceuticals, Cosmetics, And Food
- Detergents And Household Products
- Other Applications
By End-Use
- Transportation
- Building & Construction
- Food & Beverage
- Pharmaceuticals
- Cosmetics & Personal Care
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Biobased Propylene Glycol market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Biobased Propylene Glycol Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the biobased propylene glycol market include BASF SE (Germany), The Dow Chemical Company (U.S.), Global Bio-chem Technology Group Co., Ltd. (China), LyondellBasell Industries N.V. (Netherlands), Archer Daniels Midland Company (U.S.), DuPont Tate & Lyle Bio Products, L.L.C. (U.S.), Huntsman Corporation (U.S.), S.K.C. Co., Ltd. (South Korea), Temix International S.R.L. (Italy), and Ineos Oxide (Switzerland). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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