Propylene Glycol Market: Global Market Synopsis, Growth Factors, Industry Segmentation, Regional Analysis And Competitive Analysis 2017 - 2025
According to a new report published by Reports Monitor titled, “Propylene Glycol Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Propylene Glycol Market was valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Asia Pacific (APAC) accounts to hold the major share due to the rapid industrialization and improving living standards of people in developing economies such as India and China.
Propylene glycol is an organic compound and is a tasteless, odorless and colorless clear oily liquid. It is mainly found in cosmetic products and large number of processed food products. It is also found in many medications serving as a way to help your body absorb chemicals more efficiently. Moreover, it is one of the common ingredients in electronic cigarettes contributing to taste and smoothness of the smoke.
The major driving factors of the market includes petroleum-based propylene glycol and bio-based propylene glycol. There is rising demand for petroleum based in Asia Pacific region and bio-based has an eco-friendly production process. Moreover, there are numerous opportunities that can support the market such as for petroleum-based propylene glycol there is growing opportunities in emerging economies including China and India. Whereas, there is increasing demand for bio-based propylene glycol in pharmaceuticals and cosmetics applications. However, the factors hindering the growth of market includes, in case of petroleum-based propylene glycol- maturity of the product and various industries are switching to bio-based propylene glycol. Whereas, in case of bio-based propylene glycol there is vast investment in R&D. Furthermore, in case of petroleum-based propylene glycol the challenges include shifting the costs of raw material.
Based on the segmentation, the propylene glycol market is split into source, application, end-user, and region. Depending upon the source segment, the market is divided into petroleum-based propylene glycol and bio-based propylene glycol. According to the application, the market is bifurcated into unsaturated polyester resin, food, pharmaceuticals & cosmetics, antifreeze & functional fluid, liquid detergents, plasticizers, and others. Based on end-user segment, the market is classified into transportation, building & construction, pharmaceuticals & cosmetics, food & beverages, and others.
Key Question Answered:
•What will be the market size in 2025 and at what rate it will grow?
•Who are the major key players in global propylene glycol market and what are their strategies?
•Which vertical industry is expected to show major growth?
•What segment and region will lead the market and why?
The major companies in the report include: The market comprises of some of the major players such as Arch Chemicals, Lyondell Chemical Co, SKC Chemicals Group, The Dow Chemical Company, BASF AG, Huntsman, Repsol YPF and more.
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