The latest report by IMARC Group, titled “Propylene Glycol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” finds that the global propylene glycol market is expected to grow at a CAGR of 3.3% during 2024-2032. Propylene glycol (C3H8O2) is a viscous, colorless, hygroscopic liquid with low toxicity and a faintly sweet taste. It is the end product of the chemical reaction between propylene oxide and water. The synthetic organic compound can also be obtained from petroleum and bio-based sources. Propylene glycol is miscible with acetone, water, and chloroform and is used as a solvent, emulsifier, and excipient to hold and dissolve active ingredients. Consequently, it finds a wide variety of applications in cosmetics and personal care products, unsaturated polyester resins, liquid detergents, functional fluids, and antifreeze. It is also utilized as a humectant, preservative in food products, solvents, and as a major constituent of e-liquid in electric cigarettes with vegetable glycerin.
Global Propylene Glycol Market Trends:
The market is primarily driven by theincreasing product applications in diverse industries. For instance, propylene glycol is utilized across food and beverage industry for improved texture, flavor, appearance, and shelf life of various produced foods. Therapid urbanization and fast-paced lifestyle ofindividuals are also increasing the consumption of processed food and ready-to-eat food products, which isfueling the market growth. Besides this, the significant growth of the automotive industry is facilitating the need for petroleum-based propylene glycol,which is used in industrial chemicals such as deicing fluids, automotive coolants, and hydraulic and brake fluids. Nowadays, it is also used as a drug solubilizer in the pharmaceutical industry. Furthermore, with the growing environmental consciousness, key manufacturers are investing in research and development (R&D) activities to introduce effective propylene glycol variants, such as bio-based chemicals for producing propylene glycol, which is expected to create a positive outlook for the market in the upcoming years.
- Based on the source, the market has been segmented into petroleum- and bio-based.
- On the basis oftheapplication, the market has been classified into unsaturated polyester resins, antifreeze and functional fluids, food, drug, and cosmetics, liquid detergent, paints and coatings, and others.
- The market has been categorized based on the end use industry into transportation, building and construction, food and beverage, pharmaceuticals, cosmetics and personal care, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Archer-Daniels-Midland Company, BASF SE, DuPont de Nemours Inc., Global Bio-chem Technology Group Company Limited, INEOS Group Limited, LyondellBasell Industries N.V., Shell Plc, SK Picglobal and Dow Inc.
|Base Year of the Analysis
||Source, Application, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Archer-Daniels-Midland Company, BASF SE, DuPont de Nemours Inc., Global Bio-chem Technology Group Company Limited, INEOS Group Limited, LyondellBasell Industries N.V., Shell Plc, SK Picglobal and Dow Inc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800