Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Propylene Glycol Market Size is Expected to Grow from USD 4.74 Billion in 2023 to USD 7.42 Billion by 2033, at a CAGR of 4.58% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Propylene Glycol Market Size, Share, and COVID-19 Impact Analysis, By Source (Bio-based Propylene Glycol and Petroleum-based Propylene Glycol), By Application (Paints and Coatings, Chemical Intermediate, Polyester Resin, Antifreeze, Moisturizers, Hydraulic & Brake Fluids, Industrial Solvents, and Others), By End-Use (Medical & Pharmaceuticals, Transportation, Cosmetics & Personal Care, Food & Beverages, Building & Construction, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Propylene glycol market is introduced as manufacturing, distributing, and consuming propylene glycol. This market encompasses a broad spectrum of applications in several industries, including chemical compounds, personal hygiene, food and beverage, pharmaceuticals, cosmetics, and industrial applications. The demand for cutting fluids, vehicle coolants, hydraulic fluids, and bio-based chemicals including hand sanitizers and surface disinfectants is driving the growth of the propylene glycol market, which is additionally being influenced by transportation and construction. Propylene glycol is a key component in various industries, including automotive, building & construction, and food and beverage. It is used in brake fluid, hydraulic fluid, antifreeze, and polyester compounds. The automotive sector is growing ascribed to increased transportation activities and industrialization. The construction sector is also growing owing to residential projects, infrastructural development, and urbanization. Propylene glycol also acts as an anti-caking agent, texturizer, stabilizer, and thickener. The low toxicity of propylene glycol prevents health issues from occurring. However, some individuals may experience allergic reactions and increased heart rate risks, potentially restraining market growth ascribed to the potential risk of myocardial infarction.
The petroleum-based propylene glycol segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the projected period.
Based on the source, the global propylene glycol market is categorized as bio-based propylene glycol and petroleum-based propylene glycol. Among these, the petroleum-based propylene glycol segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the projected period. This is owing to the construction and transportation sectors are using it extensively. There are insufficient petroleum and petrochemical suppliers to fulfill the demand for petroleum-based propylene glycol, which is frequently utilized in cars and other vehicles as a mechanical fluid and lubricant.
The polyester resins segment accounted for the largest share in 2023 and is expected to grow at a CAGR of 3.63% throughout the projected timeframe.
Based on the application, the global propylene glycol market is categorized as paints and coatings, chemical intermediate, polyester resin, antifreeze, moisturizers, hydraulic & brake fluids, industrial solvents, and others. Among these, the polyester resins segment accounted for the largest share in 2023 and is expected to grow at a CAGR of 3.63% throughout the projected timeframe. This is attributed to the increasing prevalence of construction in its industries, rising expenditures in infrastructure development in emerging markets is propelling the propylene glycol market.
The transportation segment is predicted for the largest share in 2023 and is expected to grow at a CAGR of 5.51% throughout the projected time.
Based on the end-use, the global propylene glycol market is categorized as medical & pharmaceuticals, transportation, cosmetics & personal care, food & beverages, building & construction, and others. Among these, the transportation segment is predicted for the largest share in 2023 and is expected to grow at a CAGR of 5.51% throughout the projected time. This is ascribed to development in the automobile industry and transportation and the wide consumption of propylene in decing fluid drives the growth of propylene glycol usage in the transportation segment.
Asia Pacific is estimated to hold the largest share of the global propylene glycol market over the forecast period.
Asia Pacific is estimated to hold the largest share of the global propylene glycol market over the forecast period. Propylene glycol usage in food, pharmaceuticals, and transportation industries drives market growth in the region. Urbanization, industrial growth, automotive penetration, construction, research, international player expansion, and technological advancements contribute to growth.
North America is predicted to hold a significant revenue of the global propylene glycol market throughout the projection period. This is attributed to the growing population, increasing disposable incomes, and increased awareness of personal care products, coupled with stringent regulatory measures, are driving manufacturers towards propylene glycol-based alternatives.
Company Profiling
Major key players in the global propylene glycol market include Royal Dutch Shell PLC, Remix International S.R.L, Oleon NV, Oxide Belgium B.V., Golden DyeChem, Helm AG, Ineos Oxide, Adeka Corporation, Manali Petrochemicals Limited, and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global propylene glycol market based on the below-mentioned segments:
Global Propylene Glycol Market, By Source
Global Propylene Glycol Market, By Application
Global Propylene Glycol Market, By End-Use
Global Propylene Glycol Market, By Regional
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