Propylene Glycol Market is Expected to Grow at a CAGR of 5.26% by 2035 | ChemAnalyst

NEW YORK - May 1, 2023 - PRLog -- According to ChemAnalyst report, "Global Propylene Glycol Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035" The global Propylene Glycol market is expected to grow and reach 3800 thousand tonnes at a CAGR of 5.26% during the forecast period until 2035. The rising demand from Food & Beverage, Pharmaceuticals, Cosmetics, and Automotive end-use industries, is expected to elevate the demand for Propylene Glycol in the forecast period.

Propylene Glycol is a colourless and odourless liquid chemical with the IUPAC name Propane -1,2 diol. Propylene Glycol is a synthetic organic compound having the chemical formula C3H8O2. Commercially, Propylene Glycol is manufactured by the hydration of Propylene Oxide or by hydrogenolysis of glycerine. It is a clear, colourless, and odourless chemical with varied properties such as hygroscopic, low toxicity and broad solvency. Propylene glycol is a readily absorbs water. Propylene glycol is used to synthesize polyester composites and is employed as a base for de-icing solutions. Propylene glycol finds applications in the chemical, pharmaceutical, and food industries as an antifreeze when leakage might lead to contact with the food product. The Food and Drug Administration (FDA) has classified it as an additive generally recognized as safe" for applications in the food industry. It is used to absorb excess water and preserve moisture in some food, medication, and cosmetic goods. Moreover, artificial fog or smoke made from propylene glycol is employed in theatre shows and firefighter training.

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The majority of the total Propylene Glycol produced globally, is used as a food additive in the food & beverage sector. It is utilized to retain moisture and absorb excess water in specific pharmaceutical, cosmetic, or food items. It is a solvent used in the paint and plastics industries, as well as for food colours and flavors. In Cosmetic Industry, it is used for skincare products, hair care products, soaps as well as color cosmetics due to its super freezing point, humectant, and mould inhibiting properties. Rising disposable income coupled with changing lifestyles and increasing adoption of beauty trends is anticipated to fuel the market growth in the forecast period

Major players in the production of Global Propylene Glycol are LyondellBasell, Dow Chemical, SK Chemicals, ADM, Indorama Ventures, Monument Chemical, INEOS, BASF, Shell Eastern Petroleum, CNOOC & Shell Petrochemicals (CSPC), Dongying Hi Tech Spring Chemical Ltd, Manali Petrochemicals, and Others.