Propylene Glycol - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Propylene Glycol Market is accounted for $3.59 billion in 2018 and is expected to reach $5.97 billion by 2027 growing at a CAGR of 5.8% during the forecast period. Factors such as the growing automotive industry in APAC, the eco-friendly production process of bio-based propylene glycol and increasing geriatric population across the world will escalate spending in the pharmaceutical sector are driving the market growth. However, huge investment requirement in R&D for bio-based propylene glycol is hampering the market growth.
Propylene glycol (PG) is a synthetic organic compound, known by the molecular formula C3H8O2. It is also known by the name propane1,2-diol. Propylene glycol is a clear, colourless, odourless, viscous, and possess a faintly sweet taste. It is hygroscopic, low toxicity, and shows broad solvency. Propylene glycol can be obtained from both petroleum and bio-based source. Propylene glycol is produced synthetically by the hydration of propylene oxide by the either catalytic or non-catalytic process, whereas bio-based propylene glycol is produced by the hydrogenolysis of glycerine.
Based on the end-user, Transportation is the significant-growing end-use industry due to the growing automobile sales. The increase in the use of propylene glycols in applications, such as aircraft deicing fluid, automotive coolants, and hydraulic & brake fluids, is also driving the propylene glycol market in the transportation industry.
By Geography, Asia Pacific is expected to have significant growth during the forecast period in terms of both volume and value. The increasing population in the region, accompanied by increasing construction spending in the developing markets of China, India, and South Korea, is projected to make this region an ideal destination for the propylene glycol industry.
Some of the key players in global Propylene Glycol market are Global Bio-Chem Technology Group Co., LTD., Huntsman Corporation, The Royal Dutch Shell, SKC Co., LTD., BASF SE, Asahi Glass Co., LTD., Temix International, Archer Daniels Midland Company (ADM), Haike Chemical, Adeka Corporation, The DOW Chemical Company, Helm AG, LyondellBasell Industries N.V., Temix Oleo S.R.L., Manali Petrochemicals Limited, Qingdao Shida Chemical Co., Arrow Chemical Group Corp., and Chaoyang Chemicals, Inc.
• Industrial Grade
• Polypropylene Glycol (PPG)
• Pharmaceutical Grade
• Other Grades
• Bio-Based Propylene Glycol
• Petroleum-Based Propylene Glycol
• Humectants (Binding Agent)
• Emollients (Softener)
• Preservative Agents
• Stabilizing Agents
End Users Covered:
• Personal Care
• Building & Construction
• Chemical Intermediary
• Industrial Machinery
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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