Dublin, Feb. 05, 2020 (GLOBE NEWSWIRE) -- The "Propylene Glycol Market by Source (Petroleum-based, Bio-based), Grade (Industrial, Pharmaceutical), End-use Industry (Transportation, Building & Construction, Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global propylene glycol market is expected to reach USD 4.7 billion by 2024 from USD 3.8 billion in 2019, at a CAGR of 4.4%.
The growth is primarily due to the massive industrial growth in APAC and the Middle East & Africa, coupled with the rise in process automation in most of the industries. The factors restraining the growth of this market are the high cost of bio-based propylene glycol.
Petroleum-based propylene glycol to be the larger segment by source in the global market
The market for petroleum-based propylene glycol is projected to be the largest from 2019 to 2024. The rising demand from the construction and transportation industries is fueling the growth of the petroleum-based propylene glycol market.
Transportation to be the largest end-use industry segment of the propylene glycol market during the forecast period
Transportation is projected to be the largest end-use industry segment of the global propylene glycol market from 2019 to 2024. The growth is mainly due to the rising demand for propylene glycol in automotive coolants and aircraft wings & surface applications. Continuing economic development and increasing disposable income are also driving the global propylene glycol market in the transportation industry.
APAC set to be the fastest-growing market during the forecast period, in terms of both volume and value
APAC is the largest propylene glycol market. The high growth of the emerging economies and the increasing disposable income in the region make APAC an attractive market for propylene glycol. The tremendous growth of industrial production and increased trade are primarily responsible for the high consumption of propylene glycols.
Research Coverage
This report segments the market for propylene glycol based on source, grade, end-use industry, and region and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insightsinto their business overviews, products & services, key strategies, associated with the market for propylene glycols.
The key players profiled in the report include as 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 (U.S.), Huntsman Corporation (US), SKC Co., Ltd. (South Korea), Temix International S.R.L. (Italy), and Ineos Oxide (Switzerland.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Propylene Glycol Market
4.2 APAC Propylene Glycol Market, By Source and Country, 2018
4.3 Propylene Glycol Market, By Region
4.4 Propylene Glycol Market Attractiveness
5 Market Overview
5.1 Introduction
5.1.1 Pharmaceutical (USP/EP) Grade
5.1.2 Industrial Grade
5.2 Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Growing Automotive Industry in APAC and the Middle East & Africa
5.3.1.2 Increasing Demand for Petroleum-Based Propylene Glycol in APAC & the Middle East & Africa
5.3.1.3 Rising Demand for Processed Food in APAC
5.3.1.4 Eco-Friendly Production Process of Propylene Glycol
5.3.2 Restraints
5.3.2.1 Less Product Differentiation of Petroleum-Based Propylene Glycols
5.3.2.2 Growth in Demand for Hybrid Vehicles and Increasing Battery Price Parity
5.3.2.3 Huge Investment Requirement in R&D for Bio-Based Propylene Glycol
5.3.3 Opportunities
5.3.3.1 Growing Domestic Income and Rising Population in Emerging Economies of APAC
5.3.3.2 Rising Demand for Bio-Based Propylene Glycol in Pharmaceutical (USP/EP) Grade Applications
5.3.4 Challenges
5.3.4.1 Volatile Crude Oil Prices
6 Industry Trends
6.1 Introduction
6.2 Porter's Five Forces Analysis
7 Propylene Glycol Market, By Source
7.1 Introduction
7.2 Petroleum-Based Propylene Glycol
7.2.1 Propylene Oxide
7.3 Bio-Based Propylene Glycol
7.3.1 Glycerin
7.3.2 Sorbitol
8 Propylene Glycol Market, By Grade
8.1 Introduction
8.2 Unsaturated Polyester Resin
8.2.1 Reinforced Thermoset
8.2.1.1 Reinforced Plastic Laminates
8.2.1.2 Sheet Molding Compounds
8.2.1.3 Electronic Components
8.2.2 Non-Reinforced Thermoset
8.2.2.1 Synthetic Marble Casting
8.2.2.2 Gel Coats
8.3 Antifreeze & Functional Fluids
8.3.1 Automotive Coolants
8.3.2 Hydraulic & Brake Fluid
8.3.3 Aircraft Deicing Fluid
8.3.4 Heat Transfer Fluid
8.4 Liquid Detergents
8.4.1 Household & Dishwashing
8.4.2 Industrial Soaps & Cleaning Fluids
8.5 Plasticizers
8.5.1 Cellophane Film
8.5.2 Phenolic Resin
8.6 Paints & Coatings
8.7 Food & Beverage
8.7.1 Dairies
8.8 Pharmaceuticals
8.8.1 Dental Care
8.8.2 Therapeutic Drugs and Medicines
8.9 Cosmetics
8.9.1 Skincare
8.10 Other Applications
9 Propylene Glycol Market, By End-Use Industry
9.1 Introduction
9.2 Transportation
9.2.1 Automotive
9.2.2 Aerospace
9.2.3 Marine
9.3 Building & Construction
9.4 Food & Beverage
9.5 Pharmaceuticals
9.6 Cosmetics & Personal Care
9.7 Others
10 Propylene Glycol Market, By Region
10.1 Introduction
10.2 APAC
10.2.1 China
10.2.1.1 Leading Global Companies are Focusing on Expanding Their Businesses in the Country
10.2.2 India
10.2.2.1 The Growing Manufacturing Sector is Driving the Demand for Propylene Glycol
10.2.3 Japan
10.2.3.1 The Country is Known for Advanced Technology and Innovation-Driven Approach Across All the Sectors
10.2.4 South Korea
10.2.4.1 South Korea has One of the Largest Automotive Industries in the World
10.2.5 Australia & New Zealand
10.2.5.1 The Rapid Development of the Country, Supported By Viable Economic Policies, is Helping in the Market Growth
10.3 North America
10.3.1 US
10.3.1.1 The Presence of Major Oil & Gas Giants in the Country are Driving the Market for Propylene Glycol
10.3.2 Canada
10.3.2.1 The Market in the Country is Witnessing Strong Competition From That in the Emerging Economies of APAC and the Middle East
10.3.3 Mexico
10.3.3.1 Booming Industrialization and Rising Population are Expected to Increase the Demand for Propylene Glycol
10.4 Europe
10.4.1 Russia
10.4.1.1 Growing Automobile Industry is Positively Influencing the Propylene Glycol Market in Russia
10.4.2 Germany
10.4.2.1 The Growing Automotive Industry is Expected to Drive the Demand for Propylene Glycol
10.4.3 UK
10.4.3.1 The Government's Plans for Infrastructure Spending are Expected to Drive the Propylene Glycol Market
10.4.4 France
10.4.4.1 All the Major End-Use Industries of Propylene Glycol are Growing in the Country
10.4.5 Italy
10.4.5.1 Complete Economic Recovery is Expected to Fuel the Market in the Future
10.4.6 Spain
10.4.6.1 Spain Exports A Significant Percentage of Vehicles Produced in the Country
10.5 Middle East & Africa
10.5.1 South Africa
10.5.1.1 The Country is Witnessing Increased Demand for Automobiles, Which is Aiding the Propylene Glycol Market
10.5.2 Turkey
10.5.2.1 as One of the Newly Industrialized Countries, Turkey has Immense Opportunities for Market Growth
10.5.3 Iran
10.5.3.1 Government Expenditure on Infrastructural Growth is Helpful for Market Growth
10.6 South America
10.6.1 Brazil
10.6.1.1 Rapidly Expanding Economy Stimulated By Increasing Investments is Expected to Drive the Demand for Propylene Glycol
10.6.2 Argentina
10.6.2.1 The Growing Construction Industry is Expected to Drive the Demand for Propylene Glycol
11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping (Overall Market)
11.2.1 Innovators
11.2.2 Visionary Leaders
11.3 Strength of Product Portfolio (10 Players)
11.4 Business Strategy Excellence (10 Players)
11.5 Competitive Leadership Mapping (SMSE)
11.5.1 Progressive Companies
11.5.2 Responsive Companies
11.5.3 Dynamic Companies
11.5.4 Starting Blocks
11.6 Strength of Product Portfolio (16 Players)
11.7 Business Strategy Excellence (16 Players)
11.8 Market Share of Key Players
11.8.1 The DOW Chemical Company (US)
11.8.2 Lyondellbasedll Industries N.V. (Netherlands)
11.8.3 Global Bio-Chem Technology Group Co. Ltd. (China)
11.8.4 Ineos Oxide (Switzerland)
11.9 Competitive Situations and Trends
11.9.1 Expansions
11.9.2 Partnerships
11.9.3 Contracts & Agreements
12 Company Profiles
12.1 The DOW Chemical Company
12.2 LyondellBasell Industries N.V.
12.3 Archer Daniels Midland Company (ADM)
12.4 BASF SE
12.5 Huntsman Corporation
12.6 Global Bio-Chem Technology Group Co. Ltd.
12.7 SKC Co. Ltd.
12.8 DuPont Tate & Lyle Bio Products, LLC
12.9 Royal Dutch Shell PLC
12.10 Temix Oleo S.R.L.
12.11 Other Key Market Players
12.11.1 Ineos Oxide (Switzerland)
12.11.2 Asahi Glass Co. Ltd. (Japan)
12.11.3 Adeka Corporation (Japan)
12.11.4 Manali Petrochemicals Limited (India)
12.11.5 Qingdao Shida Chemical Co. Ltd. (China)
12.11.6 Tongling Jintai Chemical Industrial Co. Ltd. (China)
12.11.7 Dongying Hi-Tech Spring Chemical Industrial Co. Ltd. (China)
12.11.8 Shandong Depu Chemical Industry Science and Technology Co. Ltd. (China)
12.11.9 Chaoyang Chemicals, Inc. (U.S.)
12.11.10 Oleon N.V. (Belgium)
12.11.11 Golden Dyechem (India)
12.11.12 Haike Chemical Group (China)
12.11.13 Helm AG (Germany)
12.11.14 Oxyde Belgium B.V. (Belgium)
12.11.15 Arrow Chemical Group Corp. (China)
12.11.16 Trinternational, Inc. (US)
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