Global Propylene Glycol Market To Record An Expansion Rate Of Over 5% By 2027

Global Propylene Glycol Industry Current Scenario and Future Outlook

The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The Propylene Glycol industry suffered a huge setback due to halted production and a limited supply of raw materials.

With the vaccination process picking up pace in countries like China, India, the U.S., the U.K., and Germany, manufacturers are gradually heading towards the road to recovery with an improved supply chain and streamlined production activities.

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Key Segments Covered in the Propylene Glycol Industry Survey

Propylene Glycol Market by Source :

Petroleum Propylene Glycol
Bio-Based Propylene Glycol

Propylene Glycol Market by Type :

Industrial Grade Propylene Glycol
Food Grade Propylene Glycol
Pharma Grade Propylene Glycol
Propylene Glycol Market by End Use :
Chemical Intermediary (Unsaturated Polyester Resins, Functional Fluids & Antifreezes)
Cosmetic and Personal Care Products
Consumer Goods (Liquid Detergents)
Food
Pharmaceuticals

Propylene Glycol Market by Primary Function :

Propylene Glycol as Emollients (Softener)
Propylene Glycol as Solvents
Propylene Glycol as Stabilizing Agents
Propylene Glycol as Preservative Agents
Propylene Glycol as Humectants (Binding Agent)
Propylene Glycol as Excipients (Bulking Agent)
Others

Propylene Glycol Market by Region :

North America
Latin America
Europe
Asia Pacific
The Middle East & Africa
Infrastructure Expansion in the U.S. is Fueling Demand for Propylene Glycol

The Propylene Glycol chemical industry in the U.S. suffered a huge setback due to the coronavirus outbreak in 2022, halting operations in industries such as construction, automotive, and pharmaceutical.

However, with the gradual resumption of production activities and improvements in the supply chain globally, manufacturers operating in the Propylene Glycol chemical industry are gearing up to retain the industry's post-pandemic status.

Rising demand for Propylene Glycol dispersants from the construction and oil & gas industry is driving the Propylene Glycol chemical industry in the U.S. Propylene Glycol dispersants are widely used in the construction industry, and the anticipated growth is attributable to the wide expanse of real estate in the country.

Increasing housing infrastructure projects are propelling Propylene Glycol dispersant sales, thus augmenting the growth of the Propylene Glycol chemical industry. The presence of leading players in the country is also driving sales and export in the Propylene Glycol chemical industry.

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Competitive Landscape

Prominent Propylene Glycol providers are reliant on partnerships, collaborations, acquisitions, and new software launches to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.

In October 2020, Dow and entered into an exclusive technology partnership. Together, they plan to bring a unique method for directly synthesizing propylene glycol (PG) from propylene and hydrogen peroxide to market maturity.
In August 2021, BASF and SINOPEC further expanded their Verbund site operated by BASF-YPC Co., Ltd. (BASF-YPC), a 50-50 joint venture of both companies in Nanjing, China. It includes the capacity expansion of several downstream chemical plants, including a new tert-butyl acrylate plant to support the growing Chinese market

U.K is Capitalizing on Propylene Glycol Binders for Sustainable Construction Activities

The U.K. has been at the forefront in terms of technological advancements and the adoption of sustainable technology in production globally, which is a key factor augmenting the growth of the Propylene Glycol chemical industry.

In 2022, the country suffered huge setbacks due to the adverse effects caused by the COVID-19 pandemic. However, manufacturers operating in the Propylene Glycol chemical industry are striving to achieve the pre-pandemic status by opting for various Propylene Glycol and inHigh Purity Quartz Sand growth strategies.

In the U.K, the growth of the Propylene Glycol industry can be attributed to the surging demand for Propylene Glycol binders. The environment-friendly nature, low energy consumption, and cost-effectiveness offered by Propylene Glycol binders are key factors leading the sales and demand.

Growing urbanization and rapid increments in infrastructure activities across the country are fueling the demand for Propylene Glycol binders, thus creating lucrative opportunities for several players operating in the Propylene Glycol chemical industry in the upcoming decade.

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China is Incorporating Propylene Glycol Pigments in Textiles and Visual Arts

The global hub for the Propylene Glycol chemical industry, China, is picking up pace in its post-covid recovery, due to the timely eradication of the virus. With little to no restrictions, most production-related activities have resumed across the country, acting as anchors for various local and global manufacturers.

China is a lucrative ground for the Propylene Glycol industry due to the presence of leading manufacturers and several industries such as textile, pharmaceutical, plastic, and paint. Due to the abundance of these industries, the demand for Propylene Glycol pigments is also gaining immense traction in China.

Propylene Glycol pigments are non-toxic, cost-effective, and offer good color strength, making them a favorable choice for usage in various end-use sectors. Increasing the use of Propylene Glycol pigments in plastics, textiles, paints, and coatings will continue driving the growth in the Propylene Glycol industry.

Additionally, the wide range of unique shades available in Propylene Glycol pigments makes them a preferred choice for visual arts as well. The consumption of Propylene Glycol pigments in high-tech applications such as photo-reprographics, optoelectronic displays, and optical data storage are fueling the demand for Propylene Glycol pigments and creating lucrative opportunities for players operating in the Propylene Glycol industry.

India Will Showcase High Demand for Speciality Propylene Glycol

India is emerging as a lucrative market for the Propylene Glycol chemical industries for players across the world. With gradual resumptions in the restrictions on movement, the country is slowly getting back on track to achieve post-pandemic status in the coming years.

The Propylene Glycol industry in India is capitalizing on various sectors such as paints, pharmaceuticals, adhesives, pesticides, and dyes, making it one of the most important industries in the country.

Leading players operating in the Propylene Glycol industry are focusing on enhancing their product portfolio by adding specialty chemicals such as polymer additives, water treatment chemicals, and lubricating additives, which will further drive growth and sales in the industry in the upcoming decade.

The newly discovered natural gas reserves in the country will also enable manufacturers to procure diverse Propylene Glycol and will continue augmenting the growth of the Propylene Glycol chemical industry.

Key Long-Term Trends

The global Propylene Glycol industry is gradually recovering in 2021 and is expected to gain momentum in the upcoming years. With a noteworthy surge in activities in industries such as infrastructure, construction, pharmaceutical, and oil & gas, the Propylene Glycol industry will show an upward trend in the coming years. Some new trends that are augmenting the market growth are:

Chemoinformatic

The Propylene Glycol industry will largely benefit from chemoinformatic due to various factors such as the ease of evaluating specific properties of large compounds. The use of computational and informational techniques will help manufacturers gain insights into the new and existing chemicals and how to incorporate them into Propylene Glycol chemical products.

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This release was published on openPR.