Press release
Propylene Glycol Market Globally Expected to Drive Growth through 2027 | The Dow Chemical Company, Lyondell Chemical Company, BASF SE
Propylene Glycol Market
The overall market of propylene glycol was pegged at more than 2,500 Thousand Tons in 2018, and the global market is likely to witness a strong growth rate during the forecast period on the backdrop of increasing building & construction activities along with expanding production capacities of key manufacturers across the globe.
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To produce a range of petrochemical products, the worldwide chemical industry was strongly dependent on fossil fuels.
However, increasing awareness of the advantages offered by renewable chemistry is now shifting the industry's focus on the development of bio-based chemicals such as propylene glycol.
Due to the development of different end-user sectors, the propylene glycol industry is expected to experience powerful development during the forecast period.
Owing to the active utilization of propylene glycol in the transportation, building & construction sectors, the petroleum-based propylene glycol segment retained an important market share.
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In terms of end-use segment, the segment of transportation is expected to grow rapidly due to rising automotive sales.
According to the report, the burgeoning construction & manufacturing industry, combined with growing investments for infrastructural growth in developing markets such as China, India, and Brazil is expected to be the major driver for the global propylene glycol market.
In addition, this end-use sector is also driven by increased use of propylene glycols in applications such as automotive coolants, aircraft deicing fluid, and hydraulic & brake liquids.
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Propylene Glycol Gathers Momentum in Industrial Applications, Says Fact.MR
About two-thirds of the propylene glycol supplied is utilized as chemical feed to manufacture unsaturated polyester resins.
Propylene glycol's industrial applications include the manufacturing of paints and coatings, resins and plastics which are used as intermediates for the production of other chemical substances such as unsaturated polyester resins used in pipes or windmill blades, as well as bath and kitchenware.
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Propylene glycol presently is being utilized in a wide range of industrial applications including pharmaceutical and cosmetics which hold a considerable market share.
Propylene glycol is also used in tobacco products as a preservative, solvent and a significant component of e-liquid used in vegetable glycerin.
Moreover, propylene glycol is also widely used in cosmetics and personal care products which acts as the most prominent driver for the global propylene glycol market.
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