Propylene Glycol Market is predicted to reach $ 6.5 billion in 2026 from $ 3.9 billion in 2021, with a CAGR of 6.9% during the forecast period. Propylene glycol is a chemical obtained by the reaction of propylene oxide with water.

Propylene Glycol is a synthetic liquid substance that absorbs water. Propylene glycol is also used to make polyester compounds, and as a base for deicing solutions. Propylene glycol is used by the chemical, food, and pharmaceutical industries as an antifreeze when leakage might lead to contact with food; these are the main factors that have considerably increased the demand for the Propylene Glycol in the market, thereby driving the huge growth of the Propylene Glycol market in the upcoming years

Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Propylene Glycol in the market is mainly due to the increasing demand for processed food and the eco-friendly production procedure of propylene glycol are further anticipated to propel the growth of the propylene glycol market. On the other hand, the fewer product differentiation of petroleum-based propylene glycols, the increase in the demand for hybrid vehicles and increasing battery price parity and the vast investment needed in the research and development for bio-based propylene glycol are further estimated to impede the growth of the propylene glycol market in the timeline period.

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In addition, the increasing of the domestic income, growing of the population in the advancing countries and the increasing demand for bio-based propylene glycol in the pharmaceutical (USP/EP) grade applications will further provide opportunities for the growth; these are the main factors that have considerably increased the demand for the Propylene Glycol in the market, thereby driving the huge growth of the Propylene Glycol market in the upcoming years

Report is segmented as:

Propylene Glycol Market is segmented on the basis of by

By Source (Petroleum and Bio-Based),
By Application (Unsaturated Polyester Resin, Antifreeze & Functional Fluid, Food, Pharmaceuticals & Cosmetics),
By End-Use (Transportation, Building & Construction)


Geographical Segmentation:

Propylene Glycol Market is segmented into

North America
Europe
Asia Pacific
Latin America
Middle East & Africa
North America has the dominant share in the Propylene Glycol is due to the increase in the adoption of unsaturated polyester resins which is influenced by overall health of local economies and construction industry trends these are the main factors that have considerably increased the demand for the Propylene Glycol in the North America, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Propylene Glycol Market

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Impact of COVID-19 on Market

Covid -19 pandemic has affected every industry, and the long-term consequences are projected to influence the Propylene Glycol boom for the duration of the forecast period. Covid-19 pandemic has impacted large on the income of Propylene Glycol market. COVID-19 has adversely affected the Propylene Glycol market. The restrictions and lockdown imposed by means of the authorities in quite a few international locations has gradual down the market and reduce the Propylene Glycol. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Propylene Glycol market growth.

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