Global Bio-Based Propylene Glycol Market was valued at USD xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of 4.8% over the forecast period 2020-2027.
Global Bio-Based Propylene Glycol Market
The report covers an in depth analysis of COVID 19 pandemic impact on Global Bio-Based Propylene Glycol Market by region and on the key players revenue affected till July 2020 and expected short term and long term impact on the market.
Global Bio-Based Propylene Glycol Market Dynamics;
Bio- Based Propylene glycol is a chemically neutral, safe, semi viscous chemical fluid utilized in many food, cosmetic and industrial applications. Bio- Based propylene glycol possess good antifreeze, emulsifying, adhesive properties while also providing the safety of very low toxicity. Bio based propylene glycol is derived by catalytic process from plants. It helps is reducing greenhouse gas emissions and it is used in manufacturing of colognes and perfumes. Various factors such as sustainable & eco-friendly manufacturing method of bio based propylene glycol, growing use in automotive industry as coolant due to its low freezing point, rapidly expanding building and construction industry in emerging economies such as China, India, South Korea and Brazil and growing demand for bio-based propylene glycol in various pharmaceutical grade applications are driving the market growth over forecast period. Many major companies are now commercializing bio-based chemicals to achieve sustainability in the long run by integrating various advanced technologies in their manufacturing facilities, which is expected to create lucrative opportunities for market over forecast period.
However, factors such as factors such as fluctuations in raw material prices, less product differentiation of petroleum based propylene glycol, huge initial investment requirement for establishing bio based manufacturing facilities, lack of universal enforcement directives pertaining to applications of bio based propylene and less adoption in many underdeveloped countries are restraining the market growth over forecast period.
Global Bio-Based Propylene Glycol Market is segmented by application, by End-User and region. By application, unsaturated polyester application segment held highest market share in 2019 and is expected to keep its dominance over forecast period owing to increasing use of unsaturated polyester resins in building and construction industry. Unsaturated polyester application segment is followed by antifreeze & coolant and chemical intermediates application segment. Antifreeze & coolant application segment is expected to hold xx% of market share over forecast period. Bio-Based Propylene Glycol possess various properties such as low freezing point and high viscosity, these properties increase its use in automotive and general industry. By End user, Automotive End-User segment held highest market share in 2019 and is expected to keep its dominance over forecast period owing to increasing production and sales of automotive vehicles across the globe. Automotive End-User segment is followed by Building and construction End-User segment with xx% of market share over forecast period.
By geography, APAC held highest market share of 41.23% in 2019 and is expected to keep its dominance over forecast period owing to rapidly expanding End-User industries in this region. Factors such as growing automotive production in this region, rapidly expanding building and construction industries in China, India, South Asia and ASEAN countries, growing presence of major market players in this region, easy availability of labour & technical expertise at low cost and growing awareness regarding the benefits of renewable chemistry are driving the market growth in this region. APAC is followed by North America and Europe. North America is expected to hold xx% of market share over forecast period owing to increasing remodelling and reconstruction of buildings in United States and Canada. Europe is expected to hold third largest market share in global bio-based propylene glycol market owing to stringent European Union’s regulation.
Report covers in depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Some of the major key covered in this market are Archer Daniels Midland Company (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), DuPont Tate & Lyle Bio Products Company, LLC (UK), Huntsman International LLC. (U.S.) among others. These key players held more than 85% of global market share in 2019. Among all of these, the Dow Chemical Company (U.S.) is the major market player. Recently to increase the production capacity and to launch new products they have entered into technology partnership with Evonik. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Bio-Based Propylene Glycol including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Bio-Based Propylene Glycol dynamics, structure by analyzing the market segments and project Global Bio-Based Propylene Glycol Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Bio-Based Propylene Glycol the report investor’s guide
Scope of Global Bio-Based Propylene Glycol Market
Global Bio-Based Propylene Glycol Market Segmentation by Application
• Unsaturated Polyester Resins (UPRs)
• Antifreeze & Coolant
• Chemical Intermediates
Global Bio-Based Propylene Glycol Market Segmentation by End-Users
• Building & Construction
• Detergent & Household
Global Bio-Based Propylene Glycol Market Segmentation by Region
• North America
• Asia Pacific
• MEA& Africa
• South America
Global Bio-Based Propylene Glycol Market Major Players
• Archer Daniels Midland Company (U.S.)
• BASF SE (Germany)
• The Dow Chemical Company (U.S.)
• DuPont Tate & Lyle Bio Products Company, LLC (UK)
• Huntsman International LLC. (U.S.)
• Oleon (Belgium)
• Ashland. (U.S.)
• Global Bio-Chem Technology Group Co., Ltd. (China)
• SKC Co., Ltd. (South Korea)
• Temix International S.R.L. (Italy)
• Ineos Oxide (Switzerland)
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