New York, June 22, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Propylene Glycol Market Report 2023-2033" - https://www.reportlinker.com/p06469865/?utm_source=GNW
The Propylene Glycol Market Report 2023-2033: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Increasing Demand Unsaturated Polyester Resin is Expected to Fuel Propylene Glycol Market Growth
The propylene glycol market is anticipated to witness significant growth due to the growing demand for unsaturated polyester resin (UPR). UPR is a key end-use application of propylene glycol, predominantly used in the production of composite materials, such as fiberglass-reinforced plastics. The increasing adoption of UPR in various industries, including construction, automotive, marine, and electrical, is expected to fuel the demand for propylene glycol. Moreover, the automotive industry’s growing emphasis on lightweight materials and fuel efficiency is boosting the demand for UPR in the production of automotive parts, such as body panels, interior components, and structural reinforcements. Propylene glycol acts as a crucial component in UPR formulations, providing enhanced stability, viscosity control, and curing properties. As the automotive industry continues to witness technological advancements and increasing demand for lightweight materials, the propylene glycol market is expected to experience sustained growth.
Additionally, the marine and electrical industries are significant consumers of UPR, further driving the demand for propylene glycol. UPR-based composites find extensive applications in boat manufacturing, wind turbine blades, and electrical insulation, among others. The rising focus on renewable energy sources, such as wind power, is driving the demand for UPR-based materials, consequently bolstering the propylene glycol market.
Availability and Price of Raw Materials Hampering the Industry Growth
The price and profitability of propylene glycol producers are significantly influenced by the availability and cost of raw materials derived from petroleum. These raw materials, obtained from petroleum feedstocks through refining and petrochemical processes, serve as the primary source for propylene, the key precursor in propylene glycol production. The propylene oxide is the primary source of petroleum-based propylene glycol and changing price dynamics affects the overall market prices. Fluctuations in the availability and cost of petroleum feedstocks directly impact the production costs of propylene glycol. High or volatile petroleum prices increase the procurement costs of propylene feedstock, thereby exerting upward pressure on the production costs of propylene glycol. Consequently, propylene glycol producers may encounter challenges in maintaining profitability and competitiveness.
Additionally, the availability of petroleum feedstocks can affect the supply of propylene, thereby impacting the production capacity and availability of propylene glycol. Supply disruptions or constraints in the petroleum industry can lead to propylene shortages, further exacerbating the challenges faced by propylene glycol producers.
What Questions Should You Ask before Buying a Market Research Report?
• How is the propylene glycol market evolving?
• What is driving and restraining the propylene glycol market?
• How will each propylene glycol submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2033?
• How will the market shares for each propylene glycol submarket develop from 2023 to 2033?
• What will be the main driver for the overall market from 2023 to 2033?
• Will leading propylene glycol markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2033 and which geographical region will lead the market in 2033?
• Who are the leading players and what are their prospects over the forecast period?
• What are the propylene glycol projects for these leading companies?
• How will the industry evolve during the period between 2023 and 2033? What are the implications of propylene glycol projects taking place now and over the next 10 years?
• Is there a greater need for product commercialisation to further scale the propylene glycol market?
• Where is the propylene glycol market heading and how can you ensure you are at the forefront of the market?
• What are the best investment options for new product and service lines?
• What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the propylene glycol market today, and over the next 10 years:
• Our 366-page report provides 144 tables and 240 charts/graphs exclusively to you.
• The report highlights key lucrative areas in the industry so you can target them – NOW.
• It contains in-depth analysis of global, regional and national sales and growth.
• It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the propylene glycol market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2033 and other analyses reveal commercial prospects
• In addition to revenue forecasting to 2033, our new study provides you with recent results, growth rates, and market shares.
• You will find original analyses, with business outlooks and developments.
• Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising propylene glycol prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, “V”, “L”, “W” and “U” are discussed in this report.
Segments Covered in the Report
Source
• Petroleum-derived
• Bio-derived
Grade
• Industrial Grade
• Pharmaceutical Grade
Application
• Unsaturated Polyester Resin
• Paints and Coatings
• Antifreeze and Functional Fluids
• Liquid Detergents
• Plasticizers
• Food and Beverage
• Pharmaceuticals
• Cosmetics and Personal Care
• Others
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 16 leading national markets:
North America
• U.S.
• Canada
Europe
• Germany
• UK
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Rest of APAC
Latin America
• Brazil
• Mexico
• Rest of Latin America
MEA
• GCC
• South Africa
• Rest of MEA
The report also includes profiles and for some of the leading companies in the Propylene Glycol Market, 2023 to 2033, with a focus on this segment of these companies’ operations.
Leading companies and the potential for market growth
• ADEKA Corporation
• Archer Daniels Midland (ADM)
• BASF SE
• Dow Inc.
• Global Bio-chem Technology Group Company Limited
• Indorama Ventures Public Company Limited
• Ineos Group Holdings S.A.
• LyondellBasell Industries N.V.
• Manali Petrochemicals Limited
• Monument Chemical
• Repsol S.A.
• Sadara Chemical Company (Sadara)
• Shell plc
• SKC Co., Ltd.
Overall world revenue for Propylene Glycol Market, 2023 to 2033 in terms of value the market will surpass US$5,022.9 million in 2023, our work calculates. We predict strong revenue growth through to 2033. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How will the Propylene Glycol Market, 2023 to 2033 report help you?
In summary, our 360+ page report provides you with the following knowledge:
• Revenue forecasts to 2033 for Propylene Glycol Market, 2023 to 2033 Market, with forecasts for source, grade and application, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
• Revenue forecasts to 2033 for five regional and 16 key national markets – See forecasts for the Propylene Glycol Market, 2023 to 2033 market in North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
• Prospects for established firms and those seeking to enter the market – including company profiles for 14 of the major companies involved in the Propylene Glycol Market, 2023 to 2033.
Read the full report: https://www.reportlinker.com/p06469865/?utm_source=GNW
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