In this Propylene Glycol Market research report, industry trends are plotted on macro level which helps clients and the businesses comprehend market place and possible future issues. A profound knowledge of industrial unanimity, market trends and incredible techniques utilized in the report gives client’s an upper hand in the market. Comprehensive data and brilliant forecasting techniques used in this report coincide with precision and correctness. Actionable market insights are always very important if seeking to create sustainable and profitable business strategies. Market segmentation is carried out in terms of markets covered, geographic scope, years considered for the study, currency and pricing, research methodology, primary interviews with key opinion leaders, DBMR market position grid, DBMR market challenge matrix, secondary sources, and assumptions.
Summary of the Report
Global propylene glycol market is expected to rise to an estimated value of USD 2,382.59 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. The rise in the market value can be attributed to the growing demand from Asia-Pacific region and eco-friendly production process.
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Major Key Players of the Propylene Glycol Market
BASF SE, The DOW Chemical Company, LyondellBasell Industries Holdings B.V., Archer Daniels Midland Company, Huntsman Corporation, Global Bio-Chem Technology Group Company Limited, Dupont Tate & Lyle Bio Products,SKC Co.,, Asahi Glass Limited, HELM AG, Chaoyang Chemicals, , Temix International S.R.L., Qingdao Shida Chemical Co.,, ADEKA CORPORATION, Royal Dutch Shell PLC., Golden Dyechem, TRInternational, , Oleon NV, Shandong Depu Chemical Industry Science and Technology Co., Ltd and INEOS Oxide among others.
Market Overview, Key Trends Market Dynamics
The market would gain significant growth rate during the forecast period, reaching a substantial market size by 2019. The market has been analyzed taking into considerations the different factors which includes the market drivers, restraints, opportunities, key competitor landscape, trend analysis, outlook, estimate and forecast factors. The impact of COVID -19 could be seen on the market; however, the Propylene Glycol Market would recover from this pandemic by end of the next year. We have also mentioned the key trends of the market that would impact the growth of the market at present and in the coming years as well.
Market Definition: Global Propylene Glycol Market
Propylene glycol is a tasteless, colorless and an odorless liquid, which is also referred as PG with a chemical formula C₃H₈O₂. It is highly soluble, has a high boiling point, less toxic and stable. It is mostly used in plasticizer, hydraulic fluids, electronic cigarettes, medication, processed foods, cosmetic products and many more applications.
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- Eco-friendly production process; this factor can act as a driver for the market in the forecast period
- Growing demand from Asia-Pacific region will propel the growth of market in near future
- Huge demand of propylene glycol in varied applications; this factor will also drive the market in the forecast period
- Demand in switching to petroleum based; this factor will act as a restrain for the market
- High investment in research and development activities will also act as a restrain for the market
Key Developments in the Market:
- In June 2019, Lyondell Chemical Company announced that they are planning to increase the prices of some of their propylene glycol products, in South and North America. The list of the products include propylene glycol USP/EP Grade (PG USP/EP), Di-Propylene Glycol Industrial Grade (DPGI), Tri-Propylene Glycol (TPG), Propylene Glycol Industrial Grade (PGI), Di-Propylene Glycol Fragrance Grade (DPGF) and Tri-Propylene Glycol Acrylate Grade (TPGA). This shows that the demand for propylene glycol is increasing, creating new avenues for the market to grow in near future.
- In December 2015, The Dow Chemical Company announced that they have started commercial operations at their new propylene production facility. The unit is a major production centre of propylene, which is located at Dow’s Oyster Creek site in Freeport. Such new initiatives will help the company to grow in this market.
Table of Contents
- Report Overview: It includes major players of the global Propylene Glycol Market covered in the research study, research scope, and Market segments by type, market segments by application, years considered for the research study, and objectives of the report.
- Global Growth Trends: This section focuses on industry trends where market drivers and top market trends are shed light upon. It also provides growth rates of key producers operating in the global Propylene Glycol Market. Furthermore, it offers production and capacity analysis where marketing pricing trends, capacity, production, and production value of the global Propylene Glycol Market are discussed.
- Market Share by Manufacturers: Here, the report provides details about revenue by manufacturers, production and capacity by manufacturers, price by manufacturers, expansion plans, mergers and acquisitions, and products, market entry dates, distribution, and market areas of key manufacturers.
- Market Size by Type: This section concentrates on product type segments where production value market share, price, and production market share by product type are discussed.
- Market Size by Application: Besides an overview of the Propylene Glycol Market by application, it gives a study on the consumption in the global market by application.
- Production by Region: Here, the production value growth rate, production growth rate, import and export, and key players of each regional market are provided.
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Key Pointers of the Report
- The Propylene Glycol Market estimation from 2019 to 2026 has been provided in the report covering all the aspects that would impact the market growth
- Trend analysis has been also mentioned under the scope of the report
- Propylene Glycol Market share analysis of the key players of the market have been provided in the report
- Propylene Glycol Market drivers, restraints and opportunities have been extensively covered under the scope of the study
Additional Pointers of the Report:
Given below are some of the added key points of the report:
- SWOT Analysis
- PEST Analysis
- Value Chain Analysis
- Market Attractiveness Analysis
- Porter’s Five Analysis
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