Propylene Glycol Market Size, Share, Growth, Major Players, Industry Analysis by Forecast to 2035

NEW YORK - Nov. 3, 2022 - PRLog -- According to ChemAnalyst report, "Propylene Glycol Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Grade, Distribution Channel, Regional demand, 2015-2035", the Global Propylene Glycol Market is anticipated to witness a healthy growth by reaching around 3.81 million tonnes by 2035. The growing trend of replacing Ethylene Glycol with Propylene Glycol as deicing fluid in aircraft is likely to boost its demand in the upcoming years. Further, rising consumption of Propylene Glycol in pharmaceutical sector coupled with increasing use in food and beverage industry is anticipated to propel market growth in the forecast period.

Propylene Glycol is a synthetic organic compound having the chemical formula C₃H₈O_2. It is a clear, colourless, and odourless chemical with varied properties such as hygroscopic, low toxicity and broad solvency. Propylene glycol is either obtained from petroleum or it is bio-based. Petroleum-based Propylene Glycol has been dominating the global market since the historical period. However, in the upcoming years, higher demand for bio-based Propylene Glycol is expected owing to the eco-friendly production process, reduced dependence on petroleum feedstock and reduced GHG emission. The manufacturing process of Propylene Glycol proceeds either by hydration of propylene oxide or by hydrogenolysis of glycerine.

The total installed capacity of Propylene Glycol in 2021 stood at around 2.5 million tonnes and with the addition of new capacities around the globe on the back of surging demand from numerous end-user industries, it is expected to reach around 2.7 million tonnes by 2035. On the other hand, global demand for Propylene Glycol is anticipated to propel at a healthy CAGR of 5.23%.

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Propylene Glycol Market is segmented on the basis of end-use, grade, sales channel, and region. Based on end-uses, the Propylene Glycol market is segmented into Food & Beverage, Pharmaceuticals, Cosmetics, Automotives, and others. The demand from the Automotive sector is likely to rise over the forecast period on the back of increasing sales of automotive. Based on the end-use, Propylene Glycol finds its application in the food & beverage industry owing to its extensive properties to enhance texture, flavour, and prolongation of shelf life of numerous processed food products.

Some of the major players operating in the Propylene Glycol market are Dow Chemical Company, LyondellBasell Industries N.V., Archer-Daniels-Midland Company (ADM), Indorama Ventures, INEOS Group Ltd, Repsol S.A., BASF SE, SK Chemicals, Manali Petrochemicals, Sadara Chemical Company, and others