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.
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.
Increase Industrialization globally.
Fast growth in the automotive industry in China and Germany
Propylene glycol is made from renewable resources
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.
Unsaturated Polyester Resin
Antifreeze & Functional Fluids
Paints & Coatings
Food & Beverage
By End-Use Industry
Building & Construction
Food & Beverage
Cosmetics & Personal Care
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|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|
|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:
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
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
9.16. Paints & Coatings
9.2 Pharmaceutical Grade
9.2.1 Food & Beverage
10 Global Propylene Glycol Market, By End-Use Industry
10.2 Food & Beverage
10.4 Cosmetics & Personal Care
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Dow Chemical Company (US),
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
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