Propylene Glycol Market Size, Share & Growth Report 2024-2032
IMARC Group, a leading market research company, has recently releases report titled "Propylene Glycol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", The study provides a detailed analysis of the industry, including the global propylene glycol market trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the propylene glycol market?
The global propylene glycol market size reached US$ 4.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.1 Million by 2032, exhibiting a growth rate (CAGR) of 3.3% during 2024-2032.
What is propylene glycol?
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.
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What are the growth prospects and trends in the propylene glycol industry?
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.
What is included in market segmentation?
The report has segmented the market into the following categories:
Source Insights:
- Petroleum-based
- Bio-based
Application Insights:
- Unsaturated Polyester Resins
- Antifreeze and Functional Fluids
- Food, Drug, and Cosmetics
- Liquid Detergent
- Paints and Coatings
- Others
End Use Industry Insights:
- Transportation
- Building and Construction
- Food and Beverage
- Pharmaceuticals
- Cosmetics and Personal Care
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Archer-Daniels-Midland Company
- BASF SE
- Dupont 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.
- The Dow Chemical Company (Dow Inc.)
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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