Propylene Glycol Market by Source (Petroleum and Bio-Based), Application (Unsaturated Polyester Resin, Antifreeze & Functional Fluid, Food, Pharmaceuticals & Cosmetics), End-Use Industry (Transportation, Building & Construction) - Global Forecast to 2021
“The propylene glycol market projected to grow at a CAGR of 5.8% during the forecast period”
The propylene glycol market is projected to reach USD 4.60 billion by 2021, at a CAGR of 5.8% from 2016 to 2021. The growth is primarily due to growing demand for propylene glycol in automotive coolant application coupled with eco-friendly production process of bio-based propylene glycol.
“Petroleum-based propylene glycol is expected to be the largest source in the global propylene glycol market”
On the basis of source, petroleum-based propylene glycol is projected to be the largest segment in the global propylene glycol market from 2016 to 2021. Petroleum-based propylene glycol is the most widely used propylene glycol due to its widespread applications. Moreover, the rising demand from the construction and transportation industries is also fueling the growth of this segment.
“Transportation is anticipated to be the largest end-use industry of the propylene glycol market during the forecast period”
Transportation is expected to be the largest end-use industry of the global propylene glycol market from 2016 to 2021. The rising demand for propylene glycol in automotive coolants, aircraft deicing fluids, hydraulic & brake fluids, and power cruisers applications is driving this segment. Moreover, economic development in the Asia-Pacific region is also driving the global propylene glycol market in transportation industry.
“Asia-Pacific is projected to be the fastest-growing propylene glycol market during the forecast period”
The Asia-Pacific region is the largest and the fastest-growing propylene glycol market. Economic development, followed by substantial investments in industries such as transportation, and building & construction is fueling the propylene glycol market. With economic contraction and saturation in the European and North American markets, demand is shifting to the Asia-Pacific region.
Breakdown of profiles of primary interviews for the report
• By Company Type – Tier 1 – 30%, Tier 2 –43%, and Tier 3 – 27%
• By Designation – C Level – 21%, Director Level – 23%, and Others – 56%
• By Region – North America – 37%, Europe – 23%, Asia-Pacific – 26%, and RoW – 14%
Some of the key companies profiled in this report are The Dow Chemical Company (U.S.), LyondellBasell Industries N.V. (Netherlands), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Global Bio-chem Technology Group Co., Ltd. (China), DuPont Tate & Lyle Bio Products Company, LLC (U.S.), Huntsman Corporation (U.S.), SKC Co., Ltd. (South Korea), Temix International S.R.L. (Italy), and Ineos Oxide (Switzerland) among others.
The report is segmented on the basis of source, application, end-use industry, and region. The major source covered in this report are petroleum-based propylene glycol and bio-based propylene glycol. The major application covered in this report are unsaturated polyester resin, food, pharmaceuticals & cosmetics, antifreeze & functional fluids, liquid detergents, plasticizers, and others. The end-use industry includes transportation, building & construction, pharmaceuticals & cosmetics, food & beverage, and others. The market is also segmented on the basis of regions including the Asia-Pacific region, Europe, North America, South America, and Middle East & Africa.
This report covers the following studies which will benefit the client:
• Market segmentation based on source, application, end-use industry, and region
• Market dynamics including drivers, restraints, and opportunities
• Porter’s Five Forces Analysis with respect to the global propylene glycol market
• Profile of the key market players of the global propylene glycol market