The Propylene Glycol Market Share is projected to experience a compound annual growth rate (CAGR) of 4.7% from USD 4.52 billion in 2022 to USD 6.53 billion in 2030. This growth trajectory highlights the increasing demand and market potential for propylene glycol in various industries.
Propylene glycol, a versatile chemical compound, finds extensive applications in sectors such as pharmaceuticals, cosmetics, food and beverages, and automotive. Its multifunctional properties, including its ability to act as a solvent, humectant, and viscosity regulator, make it a sought-after ingredient in numerous products.
The anticipated growth in the propylene glycol market can be attributed to several factors. Firstly, the rising awareness regarding personal care and hygiene products, coupled with the increasing disposable income of consumers, is driving the demand for cosmetics and pharmaceuticals. Propylene glycol, being a key component in these industries, is expected to witness substantial growth.
Furthermore, the food and beverage industry is experiencing a surge in demand for processed and packaged food products. Propylene glycol's role as a food additive, providing moisture retention and enhancing flavor, makes it an essential ingredient in this sector. As the global population continues to grow, the demand for food products is expected to rise, further fueling the growth of the propylene glycol market.
Additionally, the automotive industry is witnessing a shift towards electric vehicles (EVs) and hybrid vehicles. Propylene glycol is extensively used as an antifreeze agent in the cooling systems of these vehicles, ensuring optimal performance and preventing engine damage. With the increasing adoption of EVs and hybrid vehicles, the demand for propylene glycol is expected to witness a significant upsurge.
In conclusion, the propylene glycol market is poised for substantial growth, with a projected CAGR of 4.7% from 2022 to 2030. The expanding applications of propylene glycol in various industries, including the automotive, pharmaceutical, and food and beverage sectors, will be the key drivers for this growth.
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Key Players:
The key market players profiled in the report include as The Dow Chemical Company, LyondellBasell Industries N.V., BASF SE, Archer Daniels Midland Company, Global Bio-chem Technology Group Co., Ltd., DuPont, Tate & Lyle Bio Products, LLC, Huntsman Corporation, SKC Co., Ltd., Temix International S.R.L., and Ineos Oxide.
MARKET SEGMENTATION:
By Source
Petroleum-based PG
Bio-based PG
By Grade
Industrial Grade
Unsaturated Polyester Resin
Antifreeze & Functional Fluids
Liquid Detergents
Plasticizers
Paints & Coatings
Pharmaceutical Grade
Food & Beverage
Pharmaceuticals
Cosmetics
Other
By End-Use Industry
Transportation
Building & Construction
Food & Beverage
Pharmaceuticals
Cosmetics & Personal Care
Others
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Table of Content
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 forces model Textile Chemicals Market
7. PEST Analysis
8. Emulsion Propylene Glycol Market Share By Source
9.Emulsion Propylene Glycol Market Share By End-Use Industry
10.Emulsion Propylene Glycol Market Share By Grade:
11.Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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