Global Propylene Glycol Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 5.47% during forecast period.
Global Propylene Glycol Market
Increasing the use of the global propylene glycol market in processed food and drink is estimated to hold the largest market share during forecast period. Because of propylene glycol’s unique properties, it is widely used in several applications, like automotive, personal care products, food products, etc. However, the fluctuating raw material prices and high investment needed for R&D may hamper this market over the estimated timeframe. Alternatively, the growing demand for bio-based propylene glycol is expected to provide new opportunities in the global propylene glycol market.
Global propylene glycol market ether finds application across diverse industry verticals for various applications. Each application requires specific properties and features and hence, manufacturers have been focusing on improving the product mix and providing customized & tailored products according to customer-specific requirements. The electronic segment requires tailored products with particular properties and improved qualities. Hence, product difference and customization are estimated to create new development avenues in the market.
Propylene glycol is a petrochemical that does not change in grades between manufacturers. Industrial grade propylene glycol is used as a feedstock to produce other chemicals. Therefore it acts as a base feed with little change at the time of application. This provides constructors very little scope for product difference.
On the basis of the source segment, the global propylene glycol market is divided into petroleum-based and bio-based propylene glycol. The petroleum-based global propylene glycol market segment is estimated to hold the largest market share during the forecast period, because of its growing use in the transportation and building & construction industries.
Based on the application segment, the unsaturated polyester resin segment is estimated to hold the largest market share during the forecast period, followed by food, pharmaceuticals & cosmetics. Increasing the building & construction industry, coupled with growing investments in emerging economies like India, China, and Brazil for the infrastructural development is driving this segment.
In terms of region, Asia-Pacific dominated the global propylene glycol market because of its large industrial base consuming global propylene glycol market in various applications. Asia-Pacific was followed by North America and Europe as the second and third largest markets for propylene glycol. Asia-Pacific region is estimated to remain the fastest-growing region driven by expanding industrial based and growing demand from India, China which is witnessing rapid industrialization and improved living standards.
The report offers a complete evaluation of the market. It does so via in-depth qualitative visions, historical data, and verifiable projections about market size. The estimates featured in the report have been derived using proven research organizations and assumptions. By doing so, the research report serves as a source of analysis and information for every facet of the market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global propylene glycol market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the modest analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global propylene glycol market.
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Scope of the Global Propylene Glycol Market
Global Propylene Glycol Market, By Source
• Petroleum-based Propylene Glycol
• Bio-based Propylene Glycol
Global Propylene Glycol Market, By Application
• Unsaturated Polyester Resin
• Food, Pharmaceuticals & Cosmetics
• Antifreeze & Functional Fluid
• Liquid Detergents
Global Propylene Glycol Market, By End-Use Industry
• Building & Construction
• Pharmaceuticals & Cosmetics
• Food & Beverage
Global Propylene Glycol Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Propylene Glycol Market
• Archer Daniels Midland Company
• BASF SE
• The DOW Chemical Company
• Global Bio-Chem Technology Group Co., Ltd.
• Lyondellbasell Industries N.V.
• Huntsman Corporation
• SKC Co., Ltd.
• Royal Dutch Shell PLC.
• Temix International S.R.L.
• Dupont Tate & Lyle Bio Products Company, LLC
• Ineos Oxide
• Asahi Glass Co., Ltd.
• Adeka Corporation
• Manali Petrochemicals Limited
• Qingdao Shida Chemical Co., Ltd.
• Tongling Jintai Chemical Industrial Co., Ltd.
• Dongying Hi-Tech Spring Chemical Industrial Co., Ltd.
• Shandong Depu Chemical Industry Science and Technology Co., Ltd
• Chaoyang Chemicals, Inc.
• Oleon Nv
• Golden Dyechem
• Haike Chemical Group
• Helm AG
• Oxyde Belgium B.V.
• Arrow Chemical Group Corp.
• Trinternational, Inc.
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