The global demand for Propylene Glycol Market is presumed to reach the valuation of nearly USD XXX BN by 2026 from USD XXX BN in 2019 with a CAGR of X.XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XXX Kilo Tons in 2019 and foreseen to touch XXX Kilo Tons by 2026 with a CAGR of X.X% during 2020-2026.
Propylene glycol is clear, colorless, slightly syrupy liquid at room temperature. Propylene glycol is a synthetic liquid substance that absorbs water. Propylene glycol is also used to make polyester compounds, and as a base for deicing solutions. Propylene glycol is used by the chemical, food, and pharmaceutical industries as an antifreeze when leakage might lead to contact with food. The Food and Drug Administration (FDA) has classified propylene glycol as an additive that is “generally recognized as safe” for use in food. It is used to absorb extra water and maintain moisture in certain medicines, cosmetics, or food products. It is a solvent for food colors and flavors, and in the paint and plastics industries. Propylene glycol is also used to create artificial smoke or fog used in fire-fighting training and in theatrical productions. Propylene glycol is odorless and tasteless. Other names for propylene glycol are 1,2-dihydroxypropane, 1,2-propanediol, methyl glycol, and trimethyl glycol.
The rising demand for Propylene Glycol in the food processing industry and pharmaceuticals Industry are important factors anticipated to encourage the growth of the global Propylene Glycol market in the upcoming period. Furthermore, rising trends towards the application of polypropylene in the automotive industry to decline the weight of the vehicle for increasing fuel efficiency are other factors projected to accelerate the growth of the market in the upcoming years. In addition to this, application of Propylene glycol (PG) to manufacture unsaturated polyester resins (UPRs), which is majorly consumed in in the construction, marine and transportation industries will also propel the growth of Propylene Glycol market. Furthermore, uses of propylene glycol in making unsaturated polyester resins that is reinforced with fiberglass which is used in building panels, bathroom components, fixtures , corrosion-resistant tanks, pipes ,ducts, boats, passenger cars, trucks and recreational vehicles and major appliances will contribute in the growth of Propylene Glycol market in upcoming periods. Apart from this, application of Propylene Glycol as an ingredient in engine coolants, deicing fluids, antifreeze and which are also helpful in making base fluid for aircraft deicing formulations and a coolant in the food industry will boom the market. Uses of propylene glycol broad as a humectant in the pharmaceutical, cosmetic, animal food and tobacco industries will drive the market over the forecast period.
The 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 inclusive assessment of each application/product segment in the global market of propylene glycol.
The entire propylene glycol market has been sub-categorized into source, grade analysis and end-use industry. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Grade Analysis
- Petroleum-Based PG
- Bio-Based PG
By End-Use Industry
- Industrial Grade
- Pharmaceutical Grade
- Cosmetics and Personal Care
- Food and Beverage
- Building and Construction
This section covers regional segmentation which accentuates on current and future demand for propylene glycol market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Europe Propylene Glycol Market By Revenue (USD MN)
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 propylene glycol market include The Dow Chemical Company, BASF SE, Archer Daniels Midland Company, LyondellBasell Industries N.V., DuPont Tate & Lyle Bio Products Company, LLC, Global Bio-chem Technology Group Co., Ltd., Huntsman Corporation, SKC Co., Ltd., Temix International S.R.L., and Ineos Oxide, among others. This section includes 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.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.