AUSTIN, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market research has a newly released expansive study titled “Global Propylene Glycol Market” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. The Propylene Glycol report puts forth an array of market insights which help with a more precise understanding of the market landscape, issues that may impose on the industry in the future, and how to position specific brands in the best way. The Propylene Glycol report offers market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer preferences and buying patterns, and market demand and supply scenarios. For an enhanced user experience of this report, all the facts and figures of statistical and numerical data are represented very well throughout the report.
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.
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REPORT METRIC
- Forecast Period - 2022 to 2029
- Base Year – 2021
- Historic Years - 2020 (Customizable to 2014 - 2019)
Market Synopsis:-
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 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.
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.
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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Key Industry Drivers:-
- Usage in the transportation industry
Propylene glycol is used in hydraulic fluids and fire-resistant brakes 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.
Key Market Segments:
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
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Propylene Glycol Market Regional Analysis/Insights
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.
Key Points of The Report:
Market Overview: The report begins with this section where a product overview and key content on the product and application segments of the global propylene glycol market are provided.
Market Forecast: Here the report provides a full forecast for the global propylene glycol market by product, application, and region. It also provides global sales and revenue forecasts for all years in the forecast period.
Competition by Company: Here we analyze the competition of the global Xyz market, by company price, revenue, sales and market share, market share, competitive landscape, and latest trends, mergers, expansions, acquisitions, and market share of top companies.
Research Results and Conclusion: One of the last sections of the report where analyst findings and findings are provided.
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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