Global propylene glycol market, 2024-2030

Propylene glycol is an organic compound with the chemical formula CH3CH(OH)CH2OH. It is produced by reaction of propylene oxide with water. It is classed as a diol containing two alcohol groups. Propylene glycol is a viscous, colorless liquid, nearly odorless and sweet in taste. It is miscible with a broad range of solvents, including water, acetone and chloroform. It does not react with other substances as it is chemically neutral. The glycolshave very low volatility and very low toxicity and are non-irritating.The 45% of production propylene glycol widely used as chemical feedstock to produce unsaturated polyester resins. It is used as solvent and mixing element in various applications, also acts as an emulsifier, excipient and reduced freezing point.

The propylene glycol employed to various applications such as used as a vehicle for topical, oral and some intravenous pharmaceutical preparations and in cosmetics. Propylene glycol is safe and approved by Food and Drug Administration (FDA).It is used in various edible items such as coffee-based drinks, liquid sweeteners, ice cream, whipped dairy products and soda. Propylene glycol is used as a solvent in many pharmaceuticals, including oral, injectable, and topical formulations. Propylene glycol as an ingredient may use in some formulation of artificial tears. Due to its properties it is used as aircraft de-icing fluid.

The global propylene glycol market research report sheds light on the market circumstances by carrying out primary and secondary research for more than 320 hours. As per the report, the global propylene glycol market is growing at a fast pace and increasing its geographical footprint rapidly. The global propylene glycol market is valued at US $ xxx million dollars in 2018 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2023 in value.

Rapid industrialization with improved living standards is expected to drive the demand for propylene glycol.

Propylene glycol enjoy wide usage across all major regions in the world including Europe, APAC, North America, Middle East and Africa, and Latin America. These regions serve large number of manufacturers and supplier and are hence responsible for the growth of propylene glycol market globally. The companies that lead global propylene glycol market are BASF SE, Huntsman Corporation, DOW, Lyondellbasell Industries N.V., Royal Dutch Shell PLC, and others.

Research Methodology

The research process includes the market segmentation of the global propylene glycol market, identifying the growth determinants of every market segment and market forecasts. All the market forecasts are done in accordance with the inputs taken from the propylene glycol industry experts from across the globe. Market Krystal conducts more than 40 interview hours dedicated for this study, the same are mentioned below:

By company type:

Manufacturers (35%), Suppliers (25%), Consumers (20%), Researchers (10%), Independent industry consultant (10%)

By geography:

North America (40%), Asia (35%), Europe (25%)

By designation:

Top level (40%), Operation level (20%), Mid-level (40%)

Contents of the report:

• Insights on the global propylene glycol industry dynamics
• Estimation of the present global propylene glycol market size in terms of value and volume
• Global propylene glycol market breakup based on types and applications.
• Substantiated global propylene glycol market forecast for the next five years.
• In depth analysis of the leading companies working across different nodes of global propylene glycol industry value chain

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