The “Propylene Glycol Market by Source (Petroleum-based, Bio-based), Grade (Industrial, Pharmaceutical), End-use Industry (Transportation, Building & Construction, Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care), Region – Global Forecast to 2024” report projects a 4.4% CAGR from USD 3.8 billion in 2019 to USD 4.7 billion by 2024. The eco-friendly production technique of bio-based propylene glycol has resulted in the expansion of the global propylene glycol market. The expanding automotive industry in APAC is also propelling the market, since propylene glycols are widely utilized in engine coolants and sheet molding compounds, among other applications.
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• 130 Market data Tables
• 58 Figures
• 176 Pages and in-depth TOC on “Propylene Glycol Market – Global Forecast to 2024″
Some of the prominent key players are:
- Dow Chemical Company (US)
- LyondellBasell Industries N.V. (Netherlands)
- BASF SE (Germany)
- Archer Daniels Midland Company (US)
- Global Bio-chem Technology Group Co., Ltd. (China)
Bio-based propylene glycol will have the greatest CAGR in the global propylene glycol market from 2019 to 2024.
The global propylene glycol market is classified into two categories: petroleum-based and bio-based propylene glycol. The bio-based propylene glycol market is expected to grow at the quickest CAGR between 2019 and 2024. This is because generating propylene glycol from bio-based materials has a lesser environmental impact. Furthermore, rising demand from pharmaceutical, food & beverage, and cosmetics applications is driving the bio-based propylene glycol market forward.