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Propylene Glycol Market

Propylene Glycol Market Size, Share & Segmentation By Source (Petroleum-based PG, Bio-based PG), By Grade (Industrial Grade, Pharmaceutical Grade, Others), By End-Use Industry (Transportation, Building & Construction, Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care, Others) , and by Regions | Global Forecast 2022-2028

Report Id: SNS/C&M/1472 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Propylene Glycol Market is expected to grow at a CAGR of 4.7%from USD 4.32 billion in 2021  to USD 5.5  billion in 2028. 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.

Propylene Glycol Market Revenue Graph

Market Analysis

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

Key Players

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.

Market Segmentation

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

  • Food & Beverage

  • Pharmaceuticals

  • Cosmetics & Personal Care

  • Others

Propylene Glycol Market Segment Chart

REGIONAL COVERAGE

  • 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

Propylene Glycol Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 4.32 Billion
Market Size by 2028 US$ 5.5 Billion
CAGR CAGR of 4.7% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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


Frequently Asked Questions (FAQ) :


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

 

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

 

 

 

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