According to the latest report by IMARC Group, titled “Propylene Glycol Market: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026,” the global propylene glycol market is expected to grow at a CAGR of around 4% during the forecast period (2021-2026)
Propylene glycol refers to a colorless, viscous and hygroscopic liquid that is easily dissolvable in water, resins, dyes and essential oils. It is generally manufactured via the hydration of propylene oxide. Since it is a solvent, emollient, humectant and preservative, it is widely utilized in the formulation of numerous personal care products, such as creams, lotions and shampoos. Apart from this, it is extensively employed in the manufacturing of inks, adhesives, paints, coatings, laminates, cleaners, industrial solvents and unsaturated polyester resins (UPR).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Propylene Glycol Market Trends:
The global market is primarily driven by the increasing demand for processed foods. Since propylene glycol is widely utilized to enhance the flavor, texture, appearance and shelf life of such food items, this is providing an impetus to the market growth. The market is further driven by the widespread utilization of propylene glycol as a drug solubilizer in the pharmaceutical industry. Some of the other factors contributing to the market growth include the rising demand for hand sanitizers and disinfectants, increasing product utilization as automotive coolants and hydraulic fluids, and the launch of bio-based propylene glycol in the market.
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Global Propylene Glycol Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.)
The report has segmented the market on the basis on region, source, application and end use industry.
Breakup by Source:
Breakup by Application:
- Unsaturated Polyester Resins
- Antifreeze and Functional Fluids
- Food, Drug, and Cosmetics
- Liquid Detergent
- Paints and Coatings
Breakup by End Use Industry:
- Building and Construction
- Food and Beverage
- Cosmetics and Personal Care
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
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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