According to the latest report by IMARC Group, titled “Propylene Glycol Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027,” The global propylene glycol market size is expected to exhibit a CAGR of 4.4% during 2022-2027.This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, and all those who are planning to foray into the market in any form.
Propylene glycol (PG) is a water-soluble, viscous, stable, hygroscopic, colorless, odorless and tasteless liquid substance. It is made by the hydration of propylene oxide, which can be dissolved in essential oils, dyes, and resins. It is used in the manufacturing of inks, adhesives, solvents, detergents, moisturizers, paints, and coatings around the world.
Propylene Glycol Market Trends:
PG is employed in the food and beverage (FB) industry as a food additive and flavor and texture enhancer. This, in confluence with the increasing consumption of processed food products worldwide, represents one of the major factors bolstering the market growth. Moreover, PG is utilized in cosmetic and personal care products as a preservative for hydrating the skin, minimizing skin dryness, and achieving an even skin tone. Besides this, the rising utilization of PG in the automotive industry as an antifreeze that can withstand relatively high temperatures and is non-corrosive and toxic in diesel engines is creating a positive outlook for the market.
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Global Propylene Glycol Market 2022-2027 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
- 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
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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