Press release
European Propylene Glycol Market Growing Demand, Recent Development Analysis, Research Report, SWOT Analysis to 2021-2028
The European Propylene Glycol market is valued at USD 208,585 Thousand in 2020 and is expected to reach USD 238,193.24 Thousand by 2027, growing at a CAGR of 2.01% from 2020 to 2027.Propylene Glycol is a basic chemical used as a solvent in various industries such as Pharmaceutical and cosmetics and in the manufacturing of cosmetic products such as skin creams, deodorants, shampoo, ointments and toothpastes, among others. It is also used as a base ingredient in many packaged food products as a preservative to increase the shelf life of the product.
Propylene Glycol is a base chemical used as a solvent in various industries and in the manufacture of cosmetic products like skin creams, deodorants, shampoo, ointments and toothpastes, among others. It is also used as a basic ingredient in many Packed Food Products to increase the shelf life of the product.
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Fluctuation in the prices of Propylene Glycol is anticipated to be one of the major factor hindering market growth. In 2017, with the recovery of the global economy, the demand for Propylene Glycol was significantly high. During the same time, since a number of Propylene Glycol installations were not functioning properly globally, the supply of Propylene Glycol was reduced, which resulted in increasingly heightened conflicts between supply and demand.
Various types of Propylene Glycol have multi functions based on their characteristics and chemical composition. For instance, Propylene Glycol have gained a momentous traction in transportation sector due to its anti-freezing features. Propylene glycol occurs naturally, and is very less toxic as compared to other counterparts. Due to this reason, this chemical is quite favorable when it comes to environment-friendly chemical label.
The products made from propylene glycol are very popular of their non-allergic features. Estimates on the prevalence of propylene glycol allergy range from 0.8% (10% propylene glycol in aqueous solution) to 3.5% (30% propylene glycol in aqueous solution). Due to this, they have multiple opportunities in the sensitive sectors such as pharmaceutical, cosmetics and personal care.
Market Key players
Various key players are listed in this report such as Croda International, The Dow Chemical Company, Eastman Chemical Company, Honeywell, PBF Chalmette Refinery, Arkema S.A., Chevron Phillips Chemical, Solvay S.A., Symrise AG, OQ Chemicals, Repsol S.A., Royal Dutch Shell, Adeka Europe GmbH,LyondellBasell Industries N.V., BASF SE, Temix International S.R.L.
Market Segmentation Analysis
By Type
• Petroleum Based PG
• Bio-Based PG
By Grade
• Industrial Grade
• Unsaturated Polyester Resin
• Antifreeze & Functional Fluids
• Liquid Detergents
• Plasticizers
• Paint & Coatings
• Pharmaceutical Grade
• Food & Beverage
• Pharmaceuticals
• Cosmetics
• Other Applications (Animal feed, Tobacco humectants, Inks, and Lacquers)
By End Use
• Transportation
• Building & Construction
• Food & Beverages
• Pharmaceuticals
• Cosmetics & Personal Care
By Country
• Germany
• UK
• France
• Turkey
• Switzerland
• Norway
• Sweden
• Spain
• Italy
• Denmark
• Finland
• Iceland
• Poland
• Luxembourg
• Netherlands
• Belgium
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Vishal Thakur
Research Support Specialist
QualiKet Research
6060 N Central Expy #500, TX 75204, U.S.A
Email: sales@qualiketresearch.com
Website: https://qualiketresearch.com
QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which help our clients outperform their competition.
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