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Global Propylene Glycol Market – Industry Trends and Forecast to 2029

  • Materials & Packaging
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220
  • Materials & Packaging
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Propylene Glycol Market, By Source (Petroleum-Based Propylene Glycol, Bio-Based Propylene Glycol), Grade (Antifreeze and Functional Fluids, Unsaturated Polyester Resin, Food, Pharmaceuticals and Cosmetics, Plasticizers, Liquid Detergents) End User (Building and Construction, Pharmaceuticals and Cosmetics, Transportation, Food and Beverages) – Industry Trends and Forecast to 2029

Propylene Glycol Market

Market Analysis and Size

Propylene glycol is a synthetic liquid material which is easily absorbs water. Propylene glycol is used to make polyester composites and used as a base for de-icing solutions. It is also used by the pharmaceutical, chemical and food industries as an antifreeze when leakage might lead to contact with the food product. The Food and Drug Administration (FDA) has classified it as an additive generally recognized as safe” for use in the food industry. It is used to maintain moisture in certain cosmetics, medicines or food products and absorb extra water. Propylene glycol is also used to make artificial fog or smoke which is used in theatrical productions and fire-fighting training.

Data Bridge Market Research analyses that the propylene glycol market was valued at USD 4.14 billion in 2021 and is expected to reach USD 5.84 billion by 2029, registering a CAGR of 4.40 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.     

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Source (Petroleum-Based Propylene Glycol, Bio-Based Propylene Glycol), Grade (Antifreeze and Functional Fluids, Unsaturated Polyester Resin, Food, Pharmaceuticals and Cosmetics, Plasticizers, Liquid Detergents) End User (Building and Construction, Pharmaceuticals and Cosmetics, Transportation, Food and Beverages)

Countries Covered

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, South Africa, Egypt, Israel, 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

Market Players Covered

Dow (US), LyondellBasell Industries N.V. (Netherlands), BASF SE (Germany), ADM (US), Global Bio-chem Technology Group Company Limited. (China), DuPont Tate & Lyle Bio Products (US), SKC (South Korea), Temix Oleo (Italy), INEOS Oxide (Switzerland), Huntsman International L.l..C (U.S.), ADEKA CORPORATION (Japan), Chaoyang Chemicals, Inc. (U.S.), Manali Petrochemicals Limited (India), Haike Chemical Group Co., Ltd. (China), Arch Chemicals Inc, (US), Repsol (Spain), Midland Company (US), Helm AG (Germany), Shell Plc (UK)

Market Opportunities

  • Increase in the number of emerging markets
  • Increasing number of product innovations
  • Rise in strategic collaborations
  • Growing demand for Unsaturated Polyester Resins (UPR)

Market Definition

Propylene glycol is a viscous compound and it is colourless liquid with odourless but possesses a faintly sweet taste. Polypropylene glycol is a main constituent in the manufacture of polymers.  Propylene glycol are, 1,2-propanediol, methyl glycol, 1,2-dihydroxypropane and trimethyl glycol. Propylene glycol is, slightly syrupy liquid at room temperature. It may exist in air in the vapour form, although propylene glycol must be briskly shaken or heated to produce a vapour. Propylene glycol is practically tasteless and odourless.

Propylene Glycol Market Dynamics

Drivers

  • Usage in transportation industry

Propylene glycol is used in hydraulic fluids and fire-resistant brake as a coolant in the transportation sector for engine cooling, as a raw material for de-icing planes, and as a heat transfer fluid for high-temperature applications.

  • Increase the demand of bio-base propylene glycol

The production of bio-based propylene glycol provides a lessening of 61% in GHG emissions in contrast to the product gained from the petrochemical method. Whereas the price fluctuations in the by-products of crude oil show the main advantage for the bio-based products. Using plant-based ingredients in products including detergents and cleaners supports ‘green’ claims, including renewable, plant-based, and sustainable, further increasing the industry growth.

  • Huge demand in food industry

Propylene glycol is widely used to improve several processed food products' flavour, appearance, texture, and shelf life. Due to the significant rise in the consumption of processed foods because of hectic lifestyles, growing working population and changing dietary patterns represents one of the key factors which are expected to stimulating the growth of the propylene glycol market.

Opportunities

Growing demand for Unsaturated Polyester Resins (UPR) to production of fiberglass reinforced plastics (FRP) and surface coatings due to their outstanding corrosion resistance properties in construction industry and the chemical tanks industry will drive the demand for propylene glycol during upcoming period. Furthermore, augmented utilization in paints and coatings, food, pharmaceuticals, combined with use in Aircraft de-icing fluid will create a surge in demand for propylene glycol and will increase valuable opportunities for the market's growth rate.

Restraints/ Challenges

Health issues due to the use of propylene glycol is the major challenge which has encountered by the propylene glycol manufacturers. Numerous health distresses associated with propylene glycol can adversely affect the market growth rate. However, WHO has specified that the acceptable daily consumption of propylene glycol as a food additive should not more than 25 mg/ Kilogram of weight. Health issues created by the high consumption of propylene glycol are the major market restrains that will hinder the market's growth rate.

This 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, geographic expansions, technological innovations in the market. To gain more info on the 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.

COVID-19 Impact on Propylene Glycol Market

The outbreak of covid-19 has adversely affected the several economies. But the propylene glycol market significantly grew during pandemic. Propylene glycol is a significant used as a by-product in the manufacturing of hand sanitizers, and it is also used in a variety of intravenous, topical, oral medicines. Therefore, during the COVID-19 pandemic, this market has increased product demand. Moreover, many institutes are starting research and developing products that could help combat coronavirus.

Global Propylene Glycol Market Scope

The propylene glycol market is segmented on the basis of source, grade and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

  • Petroleum-Based Propylene Glycol
  • Bio-Based Propylene Glycol

 Grade

  • Antifreeze and Functional Fluids
  • Unsaturated Polyester Resin
  • Food
  • Pharmaceuticals and Cosmetics
  • Plasticizers
  • Liquid Detergents

End User

  • Building and Construction
  • Pharmaceuticals and Cosmetics
  • Transportation
  • Food and Beverages

Propylene Glycol Market Regional Analysis/Insights

The propylene glycol market is analysed and market size insights and trends are provided by country, source, grade and end-user as referenced above.

The countries covered in the propylene glycol market report are 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, South Africa, Egypt, Israel, 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 propylene glycol market in terms of market share during the forecast period. This is due to the increasing demand for propylene glycol in this region. The Asia-Pacific region leads the propylene glycol market due to the rise in the adoption of unsaturated polyester resins which is influenced the construction industry trends in this region.

During the projected period, North America is anticipated to be the fastest developing region due to the rising urbanization. Furthermore, the sturdy automotive manufacturing industry and improvising the living standards of people in the developing countries in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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 Propylene Glycol Market Share Analysis

The 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 propylene glycol market.

Some of the major players operating in the propylene glycol market are:

  • Dow (US)
  • LyondellBasell Industries N.V. (Netherlands)
  • BASF SE (Germany)
  • ADM (US)
  • Global Bio-chem Technology Group Company Limited (China)
  • DuPont Tate & Lyle Bio Products (US)
  • SKC (South Korea)
  • Temix Oleo (Italy)
  • INEOS Oxide (Switzerland)
  • Huntsman International L.l..C (U.S.)
  • ADEKA CORPORATION (Japan)
  • Chaoyang Chemicals, Inc. (U.S.)
  • Manali Petrochemicals Limited (India)
  • Haike Chemical Group Co., Ltd. (China)
  • Arch Chemicals Inc, (US)
  • Repsol (Spain)
  • Midland Company (US)
  • Helm AG (Germany)
  • Shell Plc (UK)


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Frequently Asked Questions

The market value for propylene glycol market is expected USD 5.84 billion by 2029.
The Propylene Glycol Market is to grow at a CAGR of 4.40% during the forecast by 2029.
The major players operating in the Propylene Glycol Market are Dow (US), LyondellBasell Industries N.V. (Netherlands), BASF SE (Germany), ADM (US), Global Bio-chem Technology Group Company Limited. (China), DuPont Tate & Lyle Bio Products (US), SKC (South Korea), Temix Oleo (Italy), INEOS Oxide (Switzerland), Huntsman International L.l..C (U.S.), ADEKA CORPORATION (Japan), Chaoyang Chemicals, Inc. (U.S.), Manali Petrochemicals Limited (India), Haike Chemical Group Co., Ltd. (China), Arch Chemicals Inc, (US), Repsol (Spain), Midland Company (US), Helm AG (Germany), Shell Plc (UK).
The major countries covered in the Propylene Glycol Market are 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, South Africa, Egypt, Israel, 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.