Propylene Glycol Market Size, Share, Growth, Trends, Demand, Key Player profile

Posted by Mangesh Mahajan on December 4th, 2019

Market Scenario

Propylene Glycol is a chemical that is produced by the hydration of propylene oxide. It appear as a colorless, odorless, and viscous liquid which has a faint sweet taste. Propylene glycol is miscible with water, chloroform, and acetone and is hygroscopic in nature. Propylene glycol is used as an anti-freeze agent, solvent, flavor enhancer, emulsifier, stabilizer, thickener, humectant, wetting agent, and clarifier in food & beverages, pharmaceutical, and cosmetics & personal care products. It is classified as “Generally recognized as safe” (GRAS) by the U.S. Food and Drug Administration (FDA) and approved its use as an indirect food additive. Furthermore, industrial grade propylene glycol found to have vast applications in end-use industries such as, building & construction, automotive, chemical, packaging, and household.

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Market Segmentation

The Global Propylene Glycol Market is segmented by source, grade, end-use industry, and region.

On the basis of the source, the global propylene glycol market is segmented into petroleum-based and bio-based.

On the basis of the grade, the global propylene glycol market is segmented into industrial grade and pharmaceutical grade. Industrial grade is sub-segmented on the basis of applications into unsaturated polyester resins, coolants and antifreeze, hydraulic and brake fluid, aircraft deicing fluid, heat transfer fluids, paint and coatings, printing inks and liquid detergents. Pharmaceutical grade is sub-segmented on the basis of applications into processed foods & animal feedstock, pharmaceuticals, cosmetics & personal care products, tobacco & electronic cigarettes, theater fogs & artificial smoke.

On the basis of end-use industry, the global propylene glycol market is segmented into food & beverage, cosmetics & personal care, pharmaceutical, building & construction, automotive, and others.

On the basis of the region, the global propylene glycol is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Competitive Analysis

Key Players

·         LyondellBasell Industries Holdings B.V.

·         BASF SE

·         Archer Daniels Midland Company

·         Global Bio-chem Technology Group Company Limited

·         ADEKA CORPORATION

·         Chaoyang Chemicals Inc.

·         Huntsman International LLC.

·         DowDuPont Inc.

·         Manali Petrochemicals Limited

·         HaiKe Chemical Group.

Browse key industry insights spread across 100 pages with 47 market data tables & 12 figures & charts from the report, “Global Propylene Glycol Market Information: by Source (petroleum-based, bio-based), Grade (industrial grade, pharmaceutical grade), End-Use industry (food & beverage, cosmetics & personal care, pharmaceutical, building & construction, automotive), and Region – Forecast till 2023” in detail along with the table of contents:

https://www.marketresearchfuture.com/reports/propylene-glycol-market-5957

Regional Analysis

The Global Propylene Glycol Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.

Asia Pacific was the largest and fastest growing market for propylene glycol in 2017 and expected to continue dominating during the forecast period. Growing building & construction industry on account of rapid industrialization & urbanization in countries such as China and India is expected to witness high demand for unsaturated polyester resins and paints & coatings, and thus positively impact the growth of propylene glycol market over the forecast period. Large automobile industry in China is expected to witness high demand for coolants and antifreeze, hydraulic and brake fluid, thus likely to boost the propylene glycol market over the forecast period. Additionally, high bugdet allocation for healthcare sector under “ Union budget 2018” is expected to boost the pharmaceutical industry and boost damand for propylene glycol for applications such as injectable, oral and topical formulations over the forecast period. Furthermore, relaxed investments norms in Asia Pacific particularly in  India due to FDI under “Make in India”campaign is expected to attract lot of foreign investors  and end-use industries such as food & beverages, chemical, packaging are expected to proliferate and witness demand for food additives, heat transfer fluids, printing inks respectively and thus positively boost the propylene glycol market over the forecast period.

North America was the major market for propylene glycol after Asia Pacific and expected to show considerable growth during the forecast period. Growing renovation activities is expected to boost construction industry and thus positively impact the growth of the regional propylene glycol market during the forecast period due to applications in unsaturated polyester resin and paints & coatings. High budget allocation for healthcare sector in U.S. is expected to boost demand for propylene glycol for pharmaceutical applications. High consumer preference for convenience food is strongly influenced the regional food & beverage industry and thus expected to boost the demand for propylene glycol. However, rising health awareness against the consumption of fast foods & majority of convenience foods is likely to hamper food & beverage industry to some extent. Cosmetics & personal care industry is quite established in U.S. and Canada and expected to show high demand for propylene glycol over the forecast period.

Europe is expected to be the mature market and expected to show steady demand over the forecast period. Strong automotive industry is expected to drive demand for coolants and antifreeze, hydraulic and brake fluid, and aircraft deicing fluid and thus positively impact the regional propylene glycol market. Similarly like North America, European food & beverages and cosmetics & personal care industries are quite mature and expected to show steady demand for propylene glycol over the forecast period.

The Middle East & Africa is expected to show moderate demand of propylene glycol over the forecast period. Demand is expected to mainly come from the growing construction industry due to ongoing infrastructural projects taken up by government to flourish the tourism industry.

Latin America is also expected to show moderate growth due to slow overall development. However, evolving construction industry in Brazil, Mexico, Chile, and Venezuela is expected to some demand for unsaturated polyester resins and paints & coatings and thus positively impact the propylene glycol market.