Global Propylene Glycol Market: Overview
The Global Propylene Glycol Market is estimated to grow at a significant rate, during the forecast period 2018-2025. Propylene Glycol is a synthetic liquid substance that absorbs water. Propylene glycol is clear, colorless, slightly syrupy liquid at room temperature. Propylene glycol is practically odorless and tasteless. Propylene glycol is used to make polyester compounds. Propylene glycol is used by the chemical, food, and pharmaceutical industries as an antifreeze when leakage might lead to contact with food. Propylene Glycol is a solvent for food colors and flavors and in the paint and plastics industries. Propylene glycol is also used to create artificial smoke or fog used in fire-fighting training and in theatrical productions.
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The growing demand for Propylene Glycol in the food processing industry and pharmaceuticals Industry are vital factors expected to encourage the growth of the global Propylene Glycol market in the upcoming period. In addition, growing trends towards the application of polypropylene in the automotive industry to reduce the weight of the vehicle for increasing fuel efficiency are other factors estimated to accelerate the growth of the market in the next few years. Moreover, application of Propylene glycol (PG) to manufacture unsaturated polyester resins (UPRs), which is majorly consumed in in the construction, marine and transportation industries will also fuel the growth of Propylene Glycol market in the forecast period. Furthermore, uses of propylene glycol in making unsaturated polyester resins that is reinforced with fiberglass which is used in building panels, bathroom components, fixtures , corrosion-resistant tanks, pipes ,ducts, boats, passenger cars, trucks and recreational vehicles and major appliances will contribute in the growth of Propylene Glycol market in upcoming periods.
Additionally, application of Propylene Glycol as an ingredient in engine coolants, deicing fluids, antifreeze and which are also helpful in making base fluid for aircraft deicing formulations and a coolant in the food industry will boom the global propylene glycol market. Uses of propylene glycol broad as a humectant in the pharmaceutical, cosmetic, animal food and tobacco industries will drive the Propylene Glycol market over the forecast period.
Propylene Glycol Source Type analysis
On the basis of Source type, the Propylene Glycol market has been segmented into petroleum based and bio-based. Petroleum-based segment dominates the global Propylene Glycol owing to the major application in transportation and building & construction industries.
The bio-based segment will be the fastest growing segment due to eco-friendly methods of manufacturing, reduced dependency on petrochemical feedstock, and reduced emission of the greenhouse gas. Moreover, with time increased demand for bio-based methods and renewable products usages in various sectors will boost the bio-based propylene glycol market in the forecast period.
Propylene Glycol Application Type analysis
On the basis of application, the global Propylene Glycol market has been segmented into food, pharmaceuticals & cosmetics, liquid detergents, unsaturated polyester resin, antifreeze & functional fluids, plasticizers, and others. By application type, Food, pharmaceuticals & cosmetics will lead the market due to increased health consciousness among consumers and improving standards of living coupled with disposables incomes. Moreover, consumer’s preference especially millennial for expensive cosmetic products and increased demand for propylene glycol based medicine will boost the ceramics industry in the forecast period. Unsaturated polyester resin will be the fastest growing market owing to reinforce with fiber glass, unsaturated polyester is helpful in making building panels, bathroom components, fixtures, and corrosion-resistant tanks, pipes and ducts. Liquid detergents market will drive by application of liquid detergents in the manufacturing of household liquid, dishwashing detergents, industrial soaps, and cleaning fluids. Antifreeze & functional fluids market will boom by use as an engine coolant in the automotive industry.
Propylene Glycol End-Use Industry Type analysis
On the basis of End-Use industry, the global Propylene Glycol market has been segmented into building & construction, food & beverage, transportation, pharmaceuticals & cosmetics, and others. Transportation industry will be leading industry due to the growing demand for application of propylene glycol in the engine coolants, aircraft wings, pleasure boats, and ships. Moreover, growing sales of automobiles globally coupled with improving standards of living and increasing disposable income will boost the propylene market. Food & beverage market will influence by application of propylene glycol as a food additive. Pharmaceuticals & cosmetics will drive by use of propylene glycol as a humectant in Pharmaceuticals & cosmetics industry.
Regional analysis of Propylene Glycol market
On the basis of region, the Propylene Glycol market has been segmental into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific dominates the world Propylene Glycol market over the forecast period owing to the growing demand for Propylene Glycol owing to the rapid urbanization and changing living standards in economic growing countries such as India and China. Moreover, a huge number of automotive manufacturing industry in this region is expected to augment the growth of the market in the forecast period. North America is projected to grow by huge demand of propylene glycol in various industries such as building & construction, pharmaceutical, food & beverages, cosmetics & personal care, chemical, and aerospace.
Objective of the Study:
• To analyze and forecast market size of the world Propylene Glycol market, in terms useful & volume
• To examine the careful market segmentation and forecast the market size, in terms useful, on the premise of region by segmenting world Propylene Glycol market into 5 regions, namely, North America, Europe, Asia Pacific, Middle East and geographical area.
• To outline, categorized and forecast the world Propylene Glycol on the premise of product kind and application.
• To examine competitive developments like expansions, technological advancement, services, and regulative framework within the world Propylene Glycol market.
• To pinpoint the drivers and challenges for world silicon carbide market
• To spot the profile of leading players, that area unit concerned within the producing and provide off Propylene Glycol globally.
Global Propylene Glycol Market Competitive Landscape
Companies ,such as , LyondellBasell , SABIC , Exxon Mobil Corporation, INEOS, Total S.A. , Formosa Plastics Group , China Petrochemical Corporation , LG Chem , The Dow Chemical Company (U.S.), BASF SE, Archer Daniels Midland Company , Global Bio-chem Technology Group Co., Ltd. , DuPont Tate & Lyle Bio Products Company LLC, Huntsman Corporation , SKC Co. Ltd. , Temix International S.R.L., Ineos Oxide and Sumitomo Chemicals are the key players in manufacturing of propylene glycol.
Key Target Audience:
• Market research and consulting firms
• Industry associations
• Raw material suppliers
• Global Propylene Glycol manufacturers
• Research organizations and consulting companies
• Global Propylene Glycol suppliers
• Organizations, associations and alliances related to Propylene Glycol market
• Regulatory bodies
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Scope of the Report
By Source Type
• petroleum based
• bio based
• Zirconia
By Application
• food, pharmaceuticals & cosmetics,
• liquid detergents,
• unsaturated polyester resin
• antifreeze & functional fluids
• plasticizers, and others
By End-Use Industry
• building & construction
• food & beverage
• transportation
• pharmaceuticals & cosmetics
• others
In addition, the report provides analysis of the Propylene Glycol market with respect to the following geographic segments:
• North America
• Europe
• Asia Pacific (APAC)
• LATAM
• MEA
Business Questions answer by the report
• How will the market drivers, restraints and opportunities affect the market dynamics?
• What will be the market size in terms of value and volume and market statistics with detailed classification
• Which segment dominates the market or region and one will be the fastest growing and why?
• A comprehensive survey of the competitive landscape and the market participant players
• Analysis of strategy adopted by the key player and their impact on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority. And that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
• With five additional company detail analysis.
• Additional country analysis.
• Detailed segment analysis.
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