Global Bio-based Propylene Glycol Market, By Application (Unsaturated Polyester Resin, Antifreeze & Coolant, Chemical Intermediates, Solvent, Others), End-use Industry (Automotive, Food Processing, Cosmetics, Pharmaceuticals, Construction, Marine, Transportation, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Bio-based Propylene Glycol Market
The bio-based propylene glycol market is expected to witness market growth at a rate of 11.2% in the forecast period of 2021 to 2028, and is estimated to reach the value of USD 400 million by 2028. Data Bridge Market Research report on bio-based propylene glycol market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications is escalating the growth of bio-based propylene glycol market.
Bio-based propylene glycol refers to the product that is derived from plants by catalytic process, possessing high boiling and flash point, low vapor pressure and stability. Bio-based propylene glycol assists in declining greenhouse gas emissions and finds applications in waste heat recovery, solar system, and others. The product is known to have low toxicity and is listed in generally recognized as safe (GRAS) for use in food and pharmaceuticals.
The rise in detergent & household industry across the globe acts as one of the major factors driving the growth of bio-based propylene glycol market. The use of the bio-based propylene glycol as a coolant in automobile industry due to its lower freezing point property, and growing awareness regarding the benefits renewable chemistry accelerate the market growth. The manufacturers striving to achieve sustainability in the long run by developing and commercializing bio-based chemicals, and high need of eco-friendly production process of propylene glycol further influence the market. Additionally, rapid industrialization, increasing middle class and young population and use for preventing corrosion in the cooling system positively affect the bio-based propylene glycol market. Furthermore, increase in demand for bio-based propylene glycol in pharmaceutical (USP/EP) grade applications extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
- On the other hand, huge investment requirement in R&D for bio-based propylene glycol and less product differentiation of petroleum-based propylene glycols are expected to obstruct the market growth. Volatile crude oil prices and increasing battery price parity are projected to challenge the bio-based propylene glycol market in the forecast period of 2021-2028.
This bio-based propylene glycol market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on bio-based propylene glycol market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Bio-based Propylene Glycol Market Scope and Market Size
The bio-based propylene glycol market is segmented on the basis of application and end-use industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of application, the bio-based propylene glycol market is segmented into unsaturated polyester resin, antifreeze & coolant, chemical intermediates, solvent and others.
- On the basis of end-use industry, the bio-based propylene glycol market is segmented into automotive, food processing, cosmetics, pharmaceuticals, construction, marine, transportation and others.
Bio-based Propylene Glycol Market Country Level Analysis
The bio-based propylene glycol market is segmented on the basis of application and end-use industry.
The countries covered in the global bio-based propylene glycol market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the bio-based propylene glycol market due to the growth in numerous end use industries such as pharmaceutical and automotive within the region. Asia-Pacific is expected to be the fastest growing market during the forecast period of 2021 to 2028 because of the increase in demand for high quality antifreeze & coolant in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Bio-based Propylene Glycol Market Share Analysis
The bio-based propylene glycol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to bio-based propylene glycol market.
The major players covered in the bio-based propylene glycol market report are BASF SE, DOW, LyondellBasell Industries Holdings B.V., ADM, Huntsman International LLC., Global Bio-Chem Technology Group Company Limited, Dupont, Tate & Lyle, SKC., Asahi India Glass Limited., HELM AG, Chaoyang Chemicals, Inc., Temix International S.R.L., Qingdao Shida Chemical Co., Ltd., ADEKA CORPORATION, Royal Dutch Shell plc, Golden Dyechem, TRInternational, Oleon NV., Shandong depu chemical industry science&technology co., ltd, and INEOS Group Ltd, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.