Portland, OR, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global propyl gallate market was estimated at $277.0 million in 2021 and is expected to hit $533.3 million by 2031, registering a CAGR of 6.8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $277.0 Million |
| Market Size in 2031 | $533.3 Million |
| CAGR | 6.8% |
| No. of Pages in Report | 242 |
| Segments Covered | Type, End-use Industry, and Region. |
| Drivers | Growing urbanization |
| Increase in disposable income and developments in the chemical and petrochemical industries | |
| Opportunities | Surge in its use as an antioxidant and preservative in the formulation of various cosmetics and personal care products |
| Restraints | The fact that habitual use of propyl gallate may have side effect on human health, such as irritation to skin, dermal sensitizer, and irritation on eyes. F |
Covid-19 Scenario-
- Increase in demand for medical-grade products and processed food enhanced the demand for propyl gallate as an antioxidant and food additive during the Covid-19 pandemic.
- This trend is still likely to continue even after the pandemic is almost gone.
The global propyl gallate market is analyzed across grade, end-use industry, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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Based on grade, the industrial grade segment held nearly two-thirds of the global propyl gallate market revenue in 2021, and is expected to lead the trail by 2031. The same segment would also manifest the fastest CAGR of 6.9% from 2022 to 2031. The pharmaceutical grade segment is also analyzed through the report.
By end-use industry, the food industry segment generated the major share in 2021, holding nearly two-fifths of the global market, and is projected to dominate throughout the forecast period. The same segment would also cite the fastest CAGR of 7.2% by 2031. The other segments assessed through the report include lubricants, adhesives, and personal care & cosmetics.
By region, Asia-Pacific held the major share in 2021, generating nearly two-fifths of the global propyl gallate market. The same region would also garner the fastest CAGR of 7.3% by 2031. The other provinces analyzed in the report include Europe, North America, and LAMEA.
The key market players analyzed in the global propyl gallate market report include Thermo Fisher Scientific, BASF SE, Gallochem Co., Ltd., Haihang Industry, Wufeng Chicheng Biotech Co., Ltd., Merck KGaA, HALOGENS, Impextraco, Kemin Industries, Alfa Aesar, Leshan Sanjiang Bio-tech Co. Ltd., Minakem, Rexler, Sarex, TCI Ameirca, and Veeprho Group. The report provides a detailed analysis of these key players of the global medical tape market. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
