New York, NY, Feb. 19, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Propylene Glycol Market by Grade (Industrial Grade and Pharmaceutical Grade) and by End-Use Industry (Cosmetics & Personal Care, Food & Beverage, Pharmaceutical, Automotive, Building & Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global propylene glycol market was valued at USD 3.91 billion in 2018 and is expected to reach USD 5.8 billion by 2025, at a CAGR of 5.8% between 2019 and 2025.
Propylene glycol is a chemical compound that is used in several applications due to its high boiling point, low toxicity, and antifreeze nature. Propylene glycol is a mixture of propylene oxide and water. Generally, it is viscous, odorless, and colorless and is highly soluble in various liquids, such as acetone, chloroform, and water. Propylene glycol finds its applications across different industries, such as automotive, food and beverages, construction, pharmaceutical, etc. Usually, there are two grades of propylene glycol on the basis of their applications—industrial and pharmaceutical.
Browse through 74 Tables & 24 Figures spread over 110 Pages and in-depth TOC on “Global Propylene Glycol Market: Industry Size, Share, Demand, Growth, and Forecast, 2018–2025”.
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The flourishing automotive and food and beverage industries are likely to drive the propylene glycol market globally in the future. The increasing use of propylene glycol in processed food and drinks globally is expected to further boost the propylene glycol market over the estimated timeframe. Due to propylene glycol’s unique properties, it is widely used in several applications, such as automotive, personal care products, food products, etc. However, the fluctuating raw material prices and high investment needed for R&D may hamper this market over the estimated timeframe. Alternatively, the growing demand for bio-based propylene glycol is projected to provide new opportunities in the propylene glycol market in the upcoming years.
The global propylene glycol market is segmented based on grade and end-use industry. The grade segment of the propylene glycol market comprises industrial grade and pharmaceutical grade. The industrial grade segment dominated the propylene glycol market and held the largest market share in 2018, owing to the increased product usage in the chemical, automotive, aerospace, and construction industries. Moreover, the pharmaceutical grade is predicted to grow rapidly in the upcoming years, owing to its extensive use in the food and beverage industry, cosmetics, and personal care products.
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By end-user industry, the global propylene glycol market is divided into cosmetics and personal care, food and beverage, pharmaceutical, automotive, building and construction, and others. The pharmaceutical and automotive industries are projected to grow rapidly rate in the upcoming years, owing to the rising application of propylene glycol in these industries. The building and construction sector is estimated to grow significantly in the future, owing to the increasing construction activities in developing countries, such as China, India, Brazil, and Indonesia.
By region, Asia Pacific dominated the propylene glycol market in 2018 and is expected to register the highest CAGR in the future. This can be attributed to the region’s emerging food and beverages, construction, and automotive industries. China contributed the largest share toward this regional market, due to rapid industrialization and urbanization. Better standards of living, increasing disposable income, and growing health awareness are projected to further boost the propylene glycol market growth over the estimated timeframe. Moreover, the surging construction activities in China, India, Indonesia, and Vietnam are further estimated to fuel the demand for propylene glycol in the construction industry.
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North America propylene glycol market is projected to be the second largest regional market in the future, owing to the rising demand for pharmaceutical grade propylene glycol and increasing use of propylene glycol in the processed food products and drinks. Moreover, propylene glycol is also widely used in personal care products and cosmetics as anti-freeze compound to prevent them from melting at high temperatures. Thus, the growing demand for cosmetics in the region is anticipated to further propel the region’s propylene glycol market.
The European propylene glycol market is expected to grow substantially in the upcoming years, owing to the rapid growth of automotive and aerospace industries and the increased demand for propylene glycol in aircraft for de-icing purposes. UK and Germany held the largest shares of the European propylene glycol market in 2018. Germany is expected to contribute the largest share in the future, owing to its large automotive base. Propylene glycol is widely used as hydraulic and brake fluid, coolants, and anti-freeze by the region’s automotive industry, which is anticipated to further drive this regional market over the estimated time span.
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The Latin American propylene glycol market is expected to grow significantly in the future, owing to the region’s flourishing automotive industry. Brazil is a major consumer of propylene glycol within the region. The emerging construction industry in Brazil, Chile, and Venezuela are anticipated to further propel the region’s propylene glycol market over the estimated timeframe Moreover, the increasing awareness regarding health and hygiene and the increased demand for personal care products are also expected to fuel the propylene glycol market in Latin America in the years ahead.
The Middle Eastern and African propylene glycol market is anticipated to grow moderately over the assessment period, owing to the rising demand for propylene glycol in the automotive industry and the ongoing infrastructural projects in U.A.E., Qatar, Oman, and Kuwait.
Browse the full “Propylene Glycol Market by Grade (Industrial Grade and Pharmaceutical Grade) and by End-Use Industry (Cosmetics & Personal Care, Food & Beverage, Pharmaceutical, Automotive, Building & Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/propylene-glycol-market
Some key players of the global propylene glycol market are The Dow Chemical Company, BASF SE, Archer Daniels Midland Company, LyondellBasell Industries N.V., DuPont Tate & Lyle Bio Products Company, LLC, Global Bio-chem Technology Group Co., Ltd., Huntsman Corporation, SKC Co., Ltd., Temix International S.R.L., and Ineos Oxide, among others.
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The report segments the global propylene glycol market into:
Global Propylene Glycol Market: Grade Analysis
- Industrial Grade
- Pharmaceutical Grade
Global Propylene Glycol Market: End-Use Industry Analysis
- Cosmetics and Personal Care
- Food and Beverage
- Pharmaceutical
- Automotive
- Building and Construction
- Others
Global Propylene Glycol Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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