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Global Bio-Based Propylene Glycol Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Bio-Based Propylene Glycol
What Is the Bio-Based Propylene Glycol Market Size and Projected Growth Rate?
The bio-based propylene glycol market has grown steadily in recent years. It is forecasted to grow from $4.53 billion in 2024 to $4.73 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. The historical growth can be linked to greater environmental awareness, increased investments in the bio-based industry, rising crude oil prices, the growing focus on carbon footprint reduction, and overall global economic growth.
The bio-based propylene glycol market is projected to grow to $5.58 billion by 2029 at a CAGR of 4.2%. This growth is driven by eco-friendly ingredient demand, automotive use, and sustainability trends. Trends include advancements in bio-refineries, renewable goods demand, and cosmetic innovations.
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What Are the Major Segments in the Bio-Based Propylene Glycol Market?
The bio-based propylene glycol market covered in this report is segmented -
1) By Type: Bio-Based 1, 2- Propylene Glycol, Bio-Based 1,3- Propylene Glycol
2) By Application: Solvent, Chemical Intermediates, Unsaturated Polyester Adhesives, Antifreeze And Coolant, Other Applications
3) By End-User Industry: Food Processing, Building And Construction, Cosmetics, Automotive, Pharmaceuticals, Transportation, Detergent And Household, Marine, Other End-User Industries
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What Are The Driving Bio-Based Propylene Glycol Market Evolution?
Rising investments in renewable energy are expected to propel the bio-based propylene glycol market. Renewable energy investments focus on sustainable sources like wind, solar, and biomass, helping reduce environmental impacts. These investments are enabling the development of sustainable processes for producing bio-based propylene glycol, derived from renewable feedstocks. The International Energy Agency (IEA) reported in May 2023 that global clean energy investment grew from $1.617 trillion in 2022 to $1.74 trillion in 2023, reflecting increased financial commitment to renewable energy solutions. This shift is driving the growth of the bio-based propylene glycol market.
Which Firms Dominate The Bio-Based Propylene Glycol Market Segments?
Major companies operating in the bio-based propylene glycol market are Shell Chemicals, Cargill Incorporated, Archer Daniels Midland Company, Repsol SA, ORLEN Po?udnie SA, BASF SE, Dow Inc, LyondellBasell Industries N.V., Braskem SA, Huntsman Corporation, Clariant AG, Ashland Global Holdings Inc, Tate & Lyle Bio PLC, Global Bio-chem Technology Group Company Limited, Oleon NV, Houghton Chemical Corporation, Ayas Renewables Inc, Rennovia Inc., Vertec Biosolvents Inc., NexantECA
What Are the Major Trends Shaping the Bio-Based Propylene Glycol Market?
Companies in the bio-based propylene glycol market are advancing sustainability by developing bio-circular propylene glycol with Ecolibrium technology. In March 2024, Dow Inc. introduced bio-circular propylene glycol solutions in North America. These sustainable products reduce environmental impact by using renewable feedstocks and minimizing waste, offering a greener alternative to traditional fossil-based propylene glycol.
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Which Is The Largest Region In The Bio-Based Propylene Glycol Market?
Asia-Pacific was the largest region in the bio-based propylene glycol market in 2023. The regions covered in the bio-based propylene glycol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Bio-Based Propylene Glycol Market?
2. What is the CAGR expected in the Bio-Based Propylene Glycol Market?
3. What Are the Key Innovations Transforming the Bio-Based Propylene Glycol Industry?
4. Which Region Is Leading the Bio-Based Propylene Glycol Market?
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