Propylene Glycol Market: Challenges and Opportunities Report 2025
The market for propylene glycol can be segmented on the basis of source into petroleum based and bio based. Based on applications, the market for propylene glycol can be divided into food, pharmaceuticals & cosmetics, liquid detergents, unsaturated polyester resin, antifreeze & functional fluids, plasticizers, and others. On the basis of end use industry, the market for propylene glycol has been segregated into building & construction, food & beverage, transportation, pharmaceuticals & cosmetics, and others.
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The market for propylene is anticipated to witness strong growth during the forecast period owing to the growth of various end user industries. In terms of source segment, petroleum based held significant share of the market in 2016 owing to its active usage in transportation and building & construction industries. However, bio based segment can be considered as fast growing owing to the shifting focus of market towards whole sustainable green package. In terms of application, unsaturated polyester resin held prominent share of the market in 2016 which is anticipated to witness strong growth during the forecast period. Unsaturated polyester resin is followed by food, pharmaceuticals & cosmetics segment in 2016. Ascending building & construction industry, coupled with increasing investments in emerging economies such as China, India, and Brazil for the infrastructural development is driving this segment. In terms of end use segment, transportation segment is anticipated to be fast growing, owing to the increasing sales of automobiles. Moreover, the increase in the use of propylene glycols in applications such as aircraft deicing fluid, automotive coolants, and hydraulic & brake fluids, is also driving this end-use industry.
Geographically, Asia Pacific held significant share of the market in 2016 owing to the rapid industrialization and improving living standards of people in emerging economies such as India and China. Robust automotive manufacturing industry is the key factor propelling the growth of this market in Asia Pacific. Demand for unsaturated polyester resins is heavily influenced by regional construction industry trends and the overall health of local economies. They are consumed primarily in the construction, marine and transportation industries. Thus growth of unsaturated polyester resin market in Europe is driving propylene glycol market. Key players operating in the market of propylene glycol are BASF SE, Lyondellbasell Industries N.V., Huntsman Corporation, and The DOW Chemical Company.
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