Propylene Glycol Market Application scope analysis and competitive landscape assessment size share and growth industry overview by 2030

Propylene Glycol Market Overview

Propylene glycol (PG) is a synthetic organic molecule with the molecular formula C3H8O2 and the chemical formula C3H8O2. Propane-1,2-diol is another name for it. Propylene glycol is a transparent, odorless, viscous liquid with a mild sweet flavor. It’s hygroscopic, non-toxic, and has a wide range of solvency. Propylene glycol can be made from petroleum or bio-based materials. Synthetic propylene glycol is made by hydrating propylene oxide either catalytically or non-catalytically, whereas bio-based propylene glycol is made through hydrogenolysis of glycerin.

There are two types of Propylene Glycol Market industrial grade and medicinal grade. The US Food and Drug Administration (FDA) has approved propylene glycol for use as a food additive under E-number E 1520, with a tight maximum limit of 1 g/kg in human meals. It’s utilized as a solvent, anti-freeze agent, flavor enhancer, thickening, emulsifier, humectant, clarifier, and stabilizer in food products such as ice cream, artificial sweeteners, etc. In pharmaceutical formulations such as injectable, oral, and topical preparations, it serves as a solvent, emulsifier, and stabilizer.

Market Players

The major key players are LyondellBasell Industries Holdings B.V. (Netherlands), BASF SE (Germany), Manali Petrochemicals Limited (India), Archer Daniels Midland Company (U.S.), ADEKA CORPORATION (Japan), Global Bio-chem Technology Group Company Limited (China), Chaoyang Chemicals, Inc. (U.S.), Huntsman International LLC. (U.S.), DowDuPont Inc. (U.S.), and HaiKe Chemical Group (China).

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Market Segmentation

Based on the source, the Propylene Glycol Market is segmented into petroleum-based and bio-based.

Based on the grade, the global propylene glycol market is segmented into industrial grade and pharmaceutical grade. Industrial grade is sub-segmented into unsaturated polyester resins, coolants and antifreeze, hydraulic and brake fluid, aircraft deicing fluid, heat transfer fluids, paint and coatings, printing inks, and liquid detergents. Pharmaceutical grade is sub-segmented into processed foods & animal feedstock, pharmaceuticals, cosmetics & personal care products, tobacco & electronic cigarettes, theater fogs & artificial smoke.

Based on the end-use industry, the global propylene glycol market is segmented into food & beverage, cosmetics & personal care, pharmaceutical, building & construction, automotive, and others.

Based on the region, the global propylene glycol is segmented into Asia-Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa.

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Regional Classification

Due to rapid industrialization and urbanization, rising disposable income, changing lifestyles, greater health consciousness, and relaxed investment norms, Asia Pacific is predicted to be the largest and fastest-growing market for propylene glycol throughout the forecast period.

After the Asia Pacific, North America was the second-largest market for propylene glycol, with a significant increase projected over the projection period. The regional propylene glycol market is likely to be driven by high demand from the building and construction, pharmaceutical, food, beverage, etc.

Over the forecast period, Europe is likely to have a consistent demand for propylene glycol, with demand coming from the strong automotive industry, food & drinks, etc.

Over the forecast period, propylene glycol demand in the Middle East and Africa is predicted to be modest, with demand coming mostly from the construction industry in Qatar, the United Arab Emirates, Kuwait, and Oman.

Due to modest general development, Latin America is predicted to grow at a moderate pace, with demand coming mostly in Brazil, Mexico, Chile, and Venezuela.

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TABLE OF CONTENTS

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Supply Chain Analysis

4.1.1 Raw Material Suppliers

4.1.2 Manufacturers/Producers

4.1.3 Distributors/Retailers/Wholesalers/E-Commerce

4.1.4 End Users

4.2 Porter’s Five Forces Analysis

4.2.1 Threat Of New Entrants

4.2.2 Bargaining Power Of Buyers

4.2.3 Bargaining Power Of Suppliers

4.2.4 Threat Of Substitutes

4.2.5 Intensity Of Competitive Rivalry

5 Market Dynamics Of Global Propylene Glycol Market

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Challenges

5.6 Trends/Technology