Market Overview:

The global propylene glycol market is expected to exhibit a CAGR of 4.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Propylene glycol (C₃H₈O₂) is a viscous, stable and hygroscopic liquid manufactured via the hydration of propylene oxide. It is colorless, miscible with water and several organic solvents, and can dissolve in several resins, dyes and essential oils. It is utilized as a humectant, preservative, solvent and emollient in a wide range of personal care products, such as creams, lotions, serums and shampoos. Besides this, it is also used in the production of inks, adhesives, cleaners, antifreeze, laminates, engine coolants, industrial solvents, chemical intermediates, unsaturated polyester resins (UPR), non-ionic detergents, and paints and coatings.

Propylene glycol is extensively used to improve the texture, flavor, appearance and shelf life of various processed food products. A significant rise in the consumption of processed foods, on account of hectic lifestyles, changing dietary patterns and the growing working population, represents one of the key factors stimulating the market growth. Apart from this, the growth in the construction and transportation industry is further leading to the increasing demand of propylene glycol in various industrial chemicals such as deicing fluids, automotive coolants, hydraulic & brake fluids etc. The growing pharmaceutical industry, wherein propylene glycol is used as a drug solubilizer, is also contributing to the market growth. The manufacturers in the industry are focusing on bio-based chemicals for producing propylene glycol due to growing environmental concerns, which is acting as another growth-inducing factor. Additionally, on account of the spread of the coronavirus disease (COVID-19), there is an increase in the demand for propylene glycol in the manufacturing of hand sanitizers and surface disinfectants.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global propylene glycol market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on source, application and end use industry.

Breakup by Source:

• Petroleum-based
• Bio-based
   

Breakup by Application:

• Unsaturated Polyester Resins
• Antifreeze and Functional Fluids
• Food, Drug, and Cosmetics
• Liquid Detergent
• Paints and Coatings
• Others
   

Breakup by End Use Industry:

• Transportation
• Building and Construction
• Food and Beverage
• Pharmaceuticals
• Cosmetics and Personal Care
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Archer-Daniels-Midland Company, BASF SE, Dupont Tate & Lyle Bio Products Company LLC, Global Bio-chem Technology Group Company Limited, Huntsman Corporation, Ineos Chemicals, LyondellBasell Industries N.V., SHELL Petroleum N.V. (Royal Dutch Shell), SK Chemicals Co. Ltd., Sumitomo Chemical Co. Ltd. and The Dow Chemical Company (Dow Inc.)

Report Coverage: