Description
Global Bio-based Propylene Glycol Market
The market is estimated to portray a CAGR of xx% during the forecast period i.e. 2020-2030. As per the report, rising demand for green construction is likely to drive the market for bio-based propylene glycol in the coming years.
The key aspects that are pushing the growth of the bio-based propylene glycol market are eco-friendly means of production, decreased use of petrochemical feedstock, and minimized emanation of the greenhouse gases. The main challenging aspects for the growth of the market are huge effect risk during the course of production and low steadiness of substance. The raised demand for bio-based techniques and renewable products is estimated to generate a set of prospects for the market.
The market report on global bio-based propylene glycol market comprises of the following in-depth analysis:
• The estimated value of the market in 2019 was USD 88,418 million.
• Based on application, the unsaturated polyester resin segment emerged out as a key segment in the bio-based propylene glycol market across the globe.
• On the basis of end-use industries, the transportation segment was the leading segment of the market across the globe.
• Region-wise, the market in Asia Pacific emerged as the leading segment in the market for bio-based propylene glycol.
• Key players are likely to focus on product innovations and expansion through merger to retain their positions in developed markets.
The construction sector and the consumers are trying to be more in charge concerning the environment, as an outcome of which the need for green buildings has raised. Supervisory pressure to minimize carbon footprint and an over-all shift towards eco-friendly products to improve maintenance of progressions is projected to boost the market for bio-based propylene glycol.
Propylene Glycol (PG) is a wee-designed carbon-based particle that is created from petroleum products, majorly propylene oxide. It is used in numerous organizations such as electric, food, pharmaceutical, cosmetics, fiberglass resins, etc. Bio-based propylene glycol is a product, which is originated ecologically and it lowers down emanation of greenhouse gases.
It has comparatively high boiling point and low freezing point. Bio-based propylene glycol provides fruity aroma and can be used proficiently in the sectors that produce perfumes and colognes. It has an expansive range of purposes such as antifreeze, waste heat recovery, coolants, solar system, and many more. As a consequence of rising interest for environment, organizations are discovering new means in the bio-based paths for creating propylene glycol.
The global bio-based propylene glycol market is segmented by application into unsaturated polyester resin, antifreeze & coolant, chemical intermediates, solvent and others.
Among these, the unsaturated polyester resin segment emerged as the key segment, holding a market share of xx% in 2019. On the basis of end-use industries, the market for bio-based propylene glycol is divided into automotive, food & beverage, cosmetics & personal care, pharmaceuticals, building & construction, marine, transportation and others.
Among these, the transportation segment was observed to be the leading segment, holding xx% of the total market share in 2019. Region-wise, the market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. Among these, the market in Asia Pacific is witnessed to be the key segment of the global bio-based propylene glycol market, acquiring xx% of the total market share in 2019.
Key Players in the Market
Some of the key players in global bio-based propylene glycol market are The Dow Chemical Company, BASF, SKC Co. Ltd., Archer Daniels Midland Company, Huntsman Corporation, Global Bio-chem Technology Group Co. Ltd., Du Pont Tate & Lyle Bio Products LLC, Ineos Oxide, Lyondell Basell Industries N.V. and Temix International S.R.L.
Get Valuable Insights into Bio-based Propylene Glycol Market
In the new report, Fatpos Global thrives to present an unbiased analysis of the global bio-based propylene glycol market that covers the historical demand data as well as forecast figures for the period i.e. 2020-2030.
The study includes compelling insights into growth that is witnessed in the market. The global bio-based propylene glycol market is segmented by application into unsaturated polyester resin, antifreeze & coolant, chemical intermediates, solvent and others.
The market is segmented on the basis of end-use industries into automotive, food & beverage, cosmetics & personal care, pharmaceuticals, building & construction, marine, transportation and others. Region-wise, the market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.
