Propylene Glycol Market Trends, Share, Size, Growth, Opportunity and Forecast -2024”, offers a comprehensive analysis of the industry, which comprises insights on Propylene Glycol market growth. The global propylene glycol market size was valued at USD 3.8 billion in 2019 and is projected to reach USD 4.7 billion by 2024, growing at a cagr 4.4% from 2019 to 2024. This report gives a historical overview of the propylene glycol market trends, growth, revenue, capacity, cost structure, and key driver’s analysis. Additionally, it helps with market segmentation according to the most recent and anticipated patterns in the sector, topographical markets, and significant technological and commercial advancements. Each subsection of the propylene glycol market business research study has been carefully crafted to examine crucial market facets. Along with a thorough examination of present applications, this document also includes comparative analyses, opportunities and threat analyses, and competitive analyses of significant businesses.
Additionally, the report offers a thorough grasp of the market segments that were created by combining various variables, including source, grade, regions & propylene glycol market price. In addition, the research discusses the main driving factors, restraints, possible growth opportunities, and market challenges.
What is Propylene Glycol industry?
Propylene glycol is a colorless, odorless, and nearly tasteless liquid that is widely used in a variety of industries. The propylene glycol industry refers to the production and sale of propylene glycol and its derivatives, as well as the development of new applications for this versatile chemical.
Propylene glycol is used as a humectant, solvent, and preservative in a range of consumer goods, including food, personal care products, and pharmaceuticals. It is also used as a base for creating unscented and flavored e-liquids for electronic cigarettes and as a de-icing agent for aircrafts.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=264488864
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- The Dow Chemical Company (US)
- LyondellBasell Industries N.V. (Netherlands)
- BASF SE (Germany)
- Archer Daniels Midland Company (US)
- Global Bio-chem Technology Group Co., Ltd. (China)
- DuPont Tate & Lyle Bio Products, LLC (US)
- Huntsman Corporation (US)
- SKC Co., Ltd. (South Korea)
- Temix International S.R.L. (Italy)
- Ineos Oxide (Switzerland)
“Pharmaceuticals to be the fastest-growing application of the global propylene glycol market during the forecast period”
Propylene glycol is a versatile chemical compound used in a variety of industries, including pharmaceuticals, food, cosmetics, and others. According to various industry reports and market analysis, pharmaceuticals are expected to be the fastest-growing application of the global propylene glycol market during the forecast period.
This growth is primarily driven by the increasing demand for propylene glycol in the pharmaceutical industry as it is widely used as a solvent and excipient in the production of various drugs, including injectables, topical formulations, and oral medications. Propylene glycol is also used as a carrier for flavors and fragrances in various pharmaceutical products, such as cough syrups, mouthwashes, and other over-the-counter drugs.
In addition to its use as a pharmaceutical ingredient, propylene glycol is also used as a humectant, emulsifier, and solvent in many personal care products, such as moisturizers, shampoos, and shaving creams. The increasing demand for personal care products, especially in emerging economies, is expected to further boost the growth of the propylene glycol market.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=264488864
“APAC to be the fastest-growing market for propylene glycol during the forecast period”
the Asia-Pacific (APAC) region is expected to be the fastest-growing market for propylene glycol during the forecast period.
The growth in the APAC region is primarily driven by the increasing demand for propylene glycol from various end-use industries, including pharmaceuticals, food, and cosmetics. The growing population, rising disposable income, and increasing urbanization in the region are also contributing to the growth of these industries.
In addition, several countries in the APAC region, such as China, India, and Japan, have a strong presence of key players in the propylene glycol market, which is further driving the growth of the market in the region. These countries also have favorable government regulations and policies that promote the use of propylene glycol in various industries, which is expected to further boost the demand for the compound in the region.
The APAC region is expected to witness significant growth in the propylene glycol market in the coming years, making it one of the most lucrative markets for propylene glycol manufacturers and suppliers.
