Rockville, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to the latest study by Fact.MR, a provider of market research and competitive intelligence, the global Pentylene Glycol Market is estimated to reach a valuation of US$ 1,650.5 million in 2023 and is expected to grow at a CAGR of 4.2% during the forecast period of 2023–2033.
Pentylene glycol, renowned for its exceptional moisturizing properties and antimicrobial efficacy, has become a highly sought-after ingredient in skincare and haircare formulations. Its multifunctionality and compatibility with various cosmetic ingredients make it a valuable asset for formulators seeking to create high-quality products. Hence, as the skincare industry is expected to reach a valuation of US$ 155.7 billion in 2023 and haircare reached US$ 88.7 billion in 2022, the expected growth sphere for pentylene glycol is positive.
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Pentylene glycol, a multifunctional organic compound, serves as a key ingredient in numerous products across various end-use industries other than cosmetics and personal care, for instance, pharmaceuticals, construction, and industrial solvents. Its remarkable properties, such as excellent solubility, moisturizing capabilities, and antimicrobial attributes, make it highly sought after by manufacturers.
Key Takeaways from Market Study
- The global pentylene glycol market is projected to grow at 4.2% CAGR and reach US$ 2,490.6 million by 2033
- The market reached a valuation of US$ 1,584.0 million in 2022 growing at a CAGR of 3.8% between 2018 to 2022
- North America is a prominent region that is estimated to hold ~37% share of the market
- Cosmetics and personal care industry is expected to hold a market share of 27.8% in 2023
- Prominent players operating in the pentylene glycol market are Ashland Global Holdings Inc., BASF SE, Dow Chemical Company, Evonik Industries AG, INEOS Capital Limited and INOLEX Inc.
“Thriving Growth of Personal Care Industry to ensure Stabilized Revenue Streams for Pentylene Glycol Producers during Assessment Period” says a Fact.MR analyst.
Market Growth Stratagems
Manufacturers operating in the pentylene glycol market are executing a robust market expansion strategy to optimize their market share and seize emerging prospects. They are directing substantial resources towards extensive research and development endeavors aimed at fostering innovation and diversifying the applications of pentylene glycol. By exploring novel uses and uncovering additional benefits, manufacturers are accessing a wide range of industries, thus attracting a broader customer base.
Market leaders in the pentylene glycol industry are investing in R&D, pushing the envelope of innovation, and investigating fresh uses to meet the changing demands of the market. As an illustration, Symrise created and introduced Hydrolite 5, a line of green, multipurpose cosmetic components from Renewab. A similar industrial-scale direct synthesis of propylene glycol from propylene and hydrogen peroxide was created by Evonik and Dow.
For instance,
• Symrise developed and unveiled Hydrolite 5P— a multifunctional excipient suitable for pharmaceutical applications.
Key Companies Profiled
- Ashland Global Holdings Inc.
- BASF SE
- Dow Chemical Company
- Evonik Industries AG
- INEOS Capital Limited
- INOLEX Inc
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Why United States’ Pentylene Glycol Market is flourishing?
The United States' booming personal care and cosmetics market is a significant driver of the pentylene glycol market. The demand for chemicals like pentylene glycol has increased due to a large consumer base that places a high value on skincare and beauty products. It is a highly sought-after solution for formulators and manufacturers working in the sector due to its remarkable moisturising and antibacterial qualities.
The United States, known for its cutting-edge and technologically sophisticated businesses, provides a favourable environment for pentylene glycol producers to take advantage of these talents. They lead the creation of novel formulations and applications, effectively answering the changing demands across diverse sectors, by using their innovative prowess. These firms promote product innovation by placing a high priority on ongoing research and development, which eventually captivates customers and fuels market expansion.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the pentylene glycol market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of the function (moisturizing agent, moisturizing agent, and solvent), and end-use industry (cosmetics and personal care, pharmaceuticals, food processing, paints and coatings, adhesives production, chemical processing, and others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa)
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