Propylene Glycol Market - Forecast(2021 - 2026)

 Propylene glycol, also identified as propane 1, 2-diol according to International Union of Pure and Applied Chemistry nomenclature, is a synthetic organic compound. It is produced from petroleum products as well as it is bio-based and equipped with certain peculiar traits such as outstanding stability, high flash and boiling point, as well as low vapor pressure and broad solvency. Owing to such characteristics it has found tremendous scope of industrial application to craft products such as unsaturated polyester resin, coolants and antifreeze, hydraulic and brake fluid, aircraft deicing fluid, and paints and coatings. The analyst in this research report has stated the global propylene market size to be valued at around $3655 million as of 2018 and is estimated to be growing at a CAGR of around3.9% during the forecast period of 2019-2025.

Request Sample


Global Propylene Glycol Market Outlook:

Propylene Glycol is segmented into two grades mainly industrial and pharmaceuticals. Owing to such deliverance of variants it catches wide applications in countless end-use industries with construction and infrastructure, automotive, aerospace, chemical, household, packaging, food & beverages, pharmaceutical, cosmetics and personal care being the major arcades effecting the global propylene glycol market demand.

After an acute analysis of the regional market outlook, APAC region is reckoned to be dominating the global propylene glycol market size by encapsulating more than 32% of the global demand under its own territory. Such dominance can be attributed to the epidemic growth of the Indian and Chinese automotive, construction, F&B, and pharmaceutical sectors catering to nearly half of the global population hosted by these two economies. As per the Open Government Data Platform India latest data records, the total vehicle population in India 2015 was 210 million and the sector is rapidly expanding (5.83%, 2017, OICA), thus the automotive sector being a major employer of propylene glycol as coolants and antifreeze and hydraulic and brake fluid is all set to stroke the market with abundant demand[1]. 


Global construction market is forecast to grow by $8 trillion by 2030 driven by China, US and India[2]. Unsaturated polyester resins derived from propylene glycol are reinforced with fiber glass to form fiber glass reinforced plastics (FRPs), which has found tremendous employment in crafting building panels, bathroom components, fixtures and corrosion-resistant tanks, pipes, electrical components, paints and ducts in the building and construction sector. Due such extensive scope of application, building and construction sector is leading the application segment and is forecast to grow at a CAGR of around 3.9% going through 2025.

Global Propylene Glycol Market Growth Drivers and Trends:

  • Deicing and anti-icing fluids performs a vital operation in providing safe, uninterrupted and timely air travel during extreme winter conditions. Federal Aviation Administration “Clean Aircraft Concept,” outlaws takeoff with ice contamination on critical surfaces of an airplane. Thus the replacement of ethylene glycol by propylene glycol as the base fluid for aircraft deicing formulations is driving the market towards abundant opportunities of application. Furthermore, cumulative amount of space exploration agendas amalgamated with the ultimatum for high quality antifreeze & coolant is estimated to raise the demand for bio based propylene glycol.
  • According to a 2017 report by Forbes, the top 25 companies in the F&B sector generated $741.2 billion in revenue in 2016 and $86 billion in profit[3].  Another considerable data from Committee for Economic Development states that the food sector accounts for about 5 percent of US GDP and 10 percent of US consumers disposable personal income (DPI)[4].  Now owing to the trend of convenience packaged food for longer shelf life, the employment of propylene glycol as food additives is driving the market and is all set to divert a hefty revenue from the flourishing F&B sector into its own returns pocket.

"We also publish more than 100 reports every month in “Chemicals and Materials”, Go through the Domain if there are any other areas for which you would like to get a market research study."




Location: United States

Comments

Post a Comment

Popular posts from this blog

Ethylene Methyl Acrylate Market - Forecast(2021 - 2026)

Ethylene Methyl Acrylate is one of the copolymer of ethylene that is exhibiting growing prevalence in the market. The Ethylene Methyl Acrylate (EMA) is projected to reach USD 9.8 billion by 2023 at a CAGR of 6.3% during the forecast period of 2018-2023. To develop new polymeric materials for both scientific and commercial purposes, the blending of two or more different polymers is often used. One such innovation is the production of Ethylene Methyl Acrylate (EMA). Ethylene Methyl Acrylate (EMA) is anticipated to increase the demand for Ethylene Methyl Acrylate in application such as plastics, adhesives and paints & coatings.  What is Ethylene Methyl Acrylate (EMA)? Technical grade acrylic acid is the key component for producing Ethylene Methyl acrylate. Acrylic acid formulated with methanol, in a reactor in elevated temperatures with water as by product to formulate ethylene methyl acrylate. It has a high ductility among thermoplastic and it as a very low tensile strength and l...
Read more

Diethylenetriamine Market - Forecast(2021 - 2026)

Diethylenetriamine market size is forecast to reach   $250 million by 2025 , after growing at a   CAGR of 4.05% during 2020-2025 , owing to the increasing demand for diethylenetriamine as a chelating agent from various end-use industries. Diethylenetriamine is a hygroscopic liquid and an analogue of diethylene glycol. It has similar chemical behavior as ethylenediamine and has similar uses. Growing product application of diethylenetriamine as chelating agents, bleach activators, and corrosion inhibitors may boost industry size in the forecast period. Diethylenetriamine is commonly used in surfactants for their good foaming characteristics which are likely to propel the market growth. Furthermore, growing consumer awareness regarding cleanliness and hygiene has led to high demand for laundry and detergent products, which is anticipated to drive the diethylenetriamine market growth during the forecast period.  Diethylenetriamine Market Report Coverage The report: “ Diethyl...
Read more

Mining Equipment Services Market - Forecast(2021 - 2026)

Mining Equipment Services market is analysed to grow at a   CAGR of 3.4%   during the forecast period 2021-2026 to reach   $160.9 billion by 2026 . Mining equipment services market is developing rapidly due to rise in the mining exploration activities and the growing demand of raw materials due to the rising mining projects. Moreover, rapid industrialization and globalization for improving a well-functioning economy is further driving the mining equipment market. Furthermore, the deployment of innovative services and parts such as part replacement services, maintenance services, fleet services and so on further rise the market’s growth. The third-party service providers also offer   predictive   maintenance contracts that enables loss of production, reducing in downtime, also leading to reduce the cost in the research and development of equipment maintenance services and inventors. These key drivers further propel the shift of companies towards third party vend...
Read more