Reports and Data estimates the global propylene glycol Market competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2018-2028 as the forecast period. The report offers CAGR and market size for the global propylene glycol Marketduring the forecast period.
The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include: Royal Dutch Shell PLC, The Dow Chemical Company, Airedale Chemical, The Archer Daniels Midland Company, LyondellBasell Industries N.V., Huntsman Corporation, DuPont Tate & Lyle Bio Products Company, LLC, Chemtex Speciality Limited, Solventis Ltd, and Banner Chemicals Limited.
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propylene glycol Market Overview :-
The propylene glycol is projected to register a CAGR of 5.1% in terms of value, from 2020 to reach USD 2,999.5 Million by 2028. propylene glycol (MPG) is a clear, colorless, odorless, hygroscopic, water-soluble, industrial and commercial chemical and viscous liquid. propylene glycol is mostly used in the manufacture of non-ionic detergents which are used in petroleum, sugar-refining, and paper-making industries and are also widely utilized as an intermediate solvent the production of high-performance unsaturated polyester resins used in paints and varnishes. Shampoos, soaping agents, bubble baths, baby wipes, and moisturizer in make-up are some of its applications in cosmetics production. On the other hand, propylene glycol is widely used in industrial applications such as anti-freezing agents, aircraft wing & runway deicer, engine coolants among others. Also, in the food industries, this chemical is predominantly used to manufacture humectant food additive, and food colorings & flavorings.
Global propylene glycol market is projected to drive significantly as the demand for the propylene glycol in various industrial applications is being propelled substantially. The continuous expansion of the cosmetics & personal care products, paint & coatings, inks, anti-freezing and industrial coolants, hydraulic fluids, detergents are expected to drive the demand throughout the forecast period. Direct & Intermediate solvent, chemical reagent, and other processing aids are some of its mentionable end-usages. Growing demand for excipients in pharmaceutical industries for long term stabilization of the medicines, the growth is being mobilized substantially. Offline retailing is dominating the market but the higher growth rate has been forecasted for the online retailing sub-segment. Non-catalytic hydrolysis of propylene oxide is the most common process of manufacturing this chemical compound, though MPG produced from glycerol has an overall higher demand.
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By Product Type Outlook
· Propylene Oxide
By Application Outlook
· Consumer Goods
· Paints & Coatings
· Industrial Use
· Foods & Pharmaceuticals
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
· What is the expected year-on-year growth of the propylene glycol Marketduring the forecast period?
· What key trends are expected influence revenue growth of the market going ahead?
· Which region is expected to account for largest revenue share over the forecast period?
· Which key companies are profiled in the report?
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