Get More Information on Propylene Glycol Market - Request Sample Report
The Propylene Glycol Market is expected to grow at a CAGR of 4.35% from USD 4.85 billion in 2023 to USD 7.11 billion in 2032.
During the forecast period, the market is likely to be driven by the rising automotive sector in APAC and the environmentally favourable production process of bio-based propylene glycol. Europe is an important market for the commodity, with Germany serving as the region's primary exporter. The increased demand for functional fluids is driving up demand in the region. Import demand for industrial grade propylene glycol is also expanding in the region (PGI). During the winter, demand for PGI rises dramatically due to increased demand from the deicing and anti-freeze segments. Europe also exports to China and the Republic of Korea, both of which are experiencing tremendous growth in demand.
The need for unsaturated polyester resins, which are utilised as reinforced plastic or fiberglass composite in the transportation, construction, car, and marine industries, is driving the propylene glycol market. All of these markets are quickly expanding, assisting the propylene glycol market's expansion. Automotive sector expansion in various nations, as well as the growing demand for petroleum-based propylene glycol, are likely to propel the propylene glycol market forward throughout the forecast period. The growing demand for foods processing and the environmentally friendly production technique of propylene glycol are expected to drive the propylene glycol market forward. On the other hand, the lack of product differentiation in petroleum-based propylene glycol, the rise in demand for hybrid vehicles and rising battery price parity, and the significant investment required in bio-based propylene glycol research and development are all expected to stymie market growth over the forecast period.
Drivers
Increase Industrialization globally.
Fast growth in the automotive industry in China and Germany
OPPORTUNITIES
Propylene glycol is made from renewable resources
By Source
Petroleum-based PG
Bio-based PG
By Grade
Industrial Grade
Unsaturated Polyester Resin
Antifreeze & Functional Fluids
Liquid Detergents
Plasticizers
Paints & Coatings
Pharmaceutical Grade
Food & Beverage
Pharmaceuticals
Cosmetics
Other
By End-Use Industry
Transportation
Building & Construction
Pharmaceuticals
Cosmetics & Personal Care
Others
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Get Customized Report as per Your Business Requirement - Request For Customized Report
The key market players profiled in the report include as The Dow Chemical Company, LyondellBasell Industries N.V., BASF SE, Archer Daniels Midland Company, Global Bio-chem Technology Group Co., Ltd., DuPont, Tate & Lyle Bio Products, LLC, Huntsman Corporation, SKC Co., Ltd., Temix International S.R.L., and Ineos Oxide.
Report Attributes | Details |
---|---|
Market Size in 2023 | US$ 4.85 Billion |
Market Size by 2032 | US$ 7.11 Billion |
CAGR | CAGR of 4.35% From 2024 to 2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Type (Flexible Foams, Rigid Foams, Spray Foams) • By Density Composition (Low-Density Polyurethane Foams, Medium-Density Polyurethane Foams, High-Density Polyurethane Foams) • By End-Use Industry (Bedding & Furniture, Building & Construction, Automotive, Electronics, Footwear, Packaging, Others) |
Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Company Profiles | The Dow Chemical Company, LyondellBasell Industries N.V., BASF SE, Archer Daniels Midland Company, Global Bio-chem Technology Group Co., Ltd., DuPont Tate & Lyle Bio Products, LLC, Huntsman Corporation, SKC Co., Ltd., Temix International S.R.L., and Ineos Oxide. |
DRIVERS | • Increase Industrialization globally. • Fast growth in the automotive industry in China and Germany |
OPPORTUNITIES | • Propylene glycol is made from renewable resources |
The market size of the Propylene Glycol Market is expected to reach USD 7.11 billion in 2032.
Increasing industrialization globally and fast growth in the automotive industry in China and Germany are the driving factors of the Propylene Glycol Market.
The Dow Chemical Company, LyondellBasell Industries N.V., BASF SE, Archer Daniels Midland Company, Global Bio-chem Technology Group Co., Ltd., DuPont Tate & Lyle Bio Products, LLC, Huntsman Corporation, SKC Co., Ltd., Temix International S.R.L., and Ineos Oxide are leading players in the Propylene Glycol Market.
The growth rate of the Propylene Glycol Market is 4.35% during the forecast period.
The Propylene Glycol Market is segmented into 3 types: By Source, By Grade, and By End-use Industry.
Table of Content:
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Propylene Glycol Market, By Source
8.1 Petroleum-based PG
8.2 Bio-based PG
9 Global Propylene Glycol Market, By Grade
9.1 Industrial Grade
9.1.2 Unsaturated Polyester Resin
9.1.3 Antifreeze & Functional Fluids
9.1.4 Liquid Detergents
9.1.5 Plasticizers
9.16. Paints & Coatings
9.2 Pharmaceutical Grade
9.2.1 Food & Beverage
9.2.2 Pharmaceuticals
9.2.3 Cosmetics
9.3 Other
10 Global Propylene Glycol Market, By End-Use Industry
10.1 Transportation
10.2 Food & Beverage
10.3 Pharmaceuticals
10.4 Cosmetics & Personal Care
10.5 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Dow Chemical Company (US),
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 LyondellBasell Industries N.V. (Netherlands)
12.3 BASF SE (Germany)
12.4 Archer Daniels Midland Company (US)
12.5 Global Bio-chem Technology Group Co.Ltd. (China)
12.6 DuPont Tate & Lyle Bio Products
12.7 LLC (US), Huntsman Corporation (US)
12.8 SKC Co.Ltd. (South Korea)
12.9 Temix International S.R.L. (Italy)
12.10 Ineos Oxide (Switzerland).
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Synthetic Leather Market Size was valued at USD 38.7 billion in 2023, and is expected to reach USD 71.2 billion by 2032, and grow at a CAGR of 7.0% over the forecast period 2024-2032.
The Metal Finishing Chemicals Market Size was USD 12.1 billion in 2023, and will reach USD 18.8 billion by 2032, and grow at a CAGR of 5.1% by 2024-2032.
The Cellulose Acetate Market size was valued at USD 6.2 Billion in 2023 and is expected to reach USD 9.2 Billion by 2032 and grow at a CAGR of 4.5% over the forecast period of 2024-2032.
The Industrial Wastewater Treatment Chemicals Market Size was valued at USD 15.28 billion in 2023, and is expected to reach USD 23.58 billion by 2032, and grow at a CAGR of 5.66% over the forecast period 2024-2032.
Specialty Tapes Market Size was valued at USD 55.42 billion in 2023 and is expected to reach USD 90.55 billion by 2031 and grow at a CAGR of 6.3% over the forecast period 2024-2031.
The Industrial Foam Market Size was valued at USD 63.25 Bn in 2023 and is expected to reach USD 102.41 Bn by 2032 and grow at a CAGR of 5.50% by 2024-2032
Hi! Click one of our member below to chat on Phone