Bio-Based Propylene Glycol Market Size 2019 – Huge Growth Opportunities & Expansion till 2023

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Bio-Based Propylene Glycol Market Research
Report- Forecast to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Bio-Based Propylene Glycol Market - 2023
Bio-Based Propylene Glycol Market
Information- by Application (Unsaturated
Polyester Resin, Solvent, Antifreeze Coolant,
Chemical Intermediates, and Others), by End Use
Industry (Cosmetics, Building Construction,
Automotive, Pharmaceutical, Detergent Household
and Others) and By Region- Forecast till
2023 Bio-based Propylene Glycol is produced by
the process Hydrogenolysis in which glycerin is
converted into propylene glycol. It is colorless,
odorless, non-toxic, and slightly viscous liquid.
They are hygroscopic substance and used as a
humectant in cosmetics. Bio-Based Propylene
Glycol is considered to be the prominent raw
material for various industrial applications. It
is used as an antifreeze coolant, chemical
intermediates, unsaturated polyester resin, and
solvent in numerous end use industries such as
detergent household, cosmetics, automotive,
pharmaceutical, and construction. The Global
Bio-Based Propylene Glycol Market is predicted to
grow at a moderate CAGR over the forecast period.
Rising demand for bio-based propylene glycol
solvent from the growing detergent household
industry is expected to drive market growth in
the upcoming years. Increasing usage of
unsaturated polyester resin in various reinforced
plastic application is predicted to fuel market
growth. Bio-Based Propylene Glycol is widely used
as coolant and antifreeze material owing to its
low freezing point and high viscosity thus
increased its importance in automotive and
general industry. Increasing automotive
production and sales in developed as well as
developing countries is expected to raise
Bio-Based Propylene Glycol demand over the next
six years. The increasing demand for non-ionic
surfactant and growing demand for Propylene
Glycol Based adhesives, emulsifiers and
lubricants is predicted to boost up the market
growth. Moreover, the ample availability of
glycerin (obtained as a byproduct of biodiesel)
is also one of the important factor prompting
companies to shift their focus towards Bio-Based
Propylene production.
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Bio-Based Propylene Glycol Market - 2023
Regional Analysis The Global Bio-Based
Propylene Glycol Market is fragmented into five
regions namely - Asia Pacific, Europe, Latin
America, North America, and the Middle East
Africa. Among these, Asia Pacific is expected to
grow at the highest CAGR during the forecast
period owing to the presence of large number of
unsaturated polyester resins and fibers
manufacturers as well as increasing demand from
construction sector. The demand for Bio-Based
Propylene Glycol is anticipated to surge in
developing countries such as China, Japan, India,
and Vietnam due to growing commercial as well as
institutional construction sector. Furthermore,
growing chemical industries in this region is
expected to improve business opportunities.
Additionally, stable supply of raw material,
relatively cheap labor cost, and growing
development strategies to fulfil the demand for
Bio-Based Propylene Glycol in the developing
applications are the important factors for the
regional market growth. North America and Europe
are expected to be the leading markets followed
by Asia Pacific and the Middle East Africa.
North America is anticipated to witness moderate
growth in bio based propylene glycol market due
to the healthy growth in numerous end use
industries such as pharmaceutical and automotive.
Moreover, increasing number of space exploration
programs coupled with the demand for high quality
antifreeze coolant is expected to raise the
demand for bio based propylene glycol. In Europe,
countries such as Spain, UK, and Germany have
emerged as the prominent markets due to developed
cosmetics and food industries. While in North
America, countries such as U.S., Canada, and
Mexico are among the major contributors due to
increasing R D expenditure and is predicted to
see a significant regional market growth in the
upcoming years. Latin American countries such as
Colombia, Brazil, Peru and Argentina are also
expected to have strong growth prospects over the
forecast period due to rapid industrialization.
Middle East Africa is predicted to witness a
substantial growth in the upcoming years. Heavy
investment in residential as well as commercial
construction sector in United Arab Emirates (UAE)
is predicted to positively influence industry
growth during the review period. Segmentation
The Global Bio
Based Propylene Glycol Market is segmented on the
basis of application, end use industries, and
regions. Based on application, the market is
segmented into unsaturated polyester resin,
solvent, antifreeze coolant, chemical
intermediates, and others. On the basis of end
use industries, the market is segmented into
Cosmetics, building construction, automotive,
pharmaceutical, detergent household and others.
On the basis of regions, the market is
categorized into Asia Pacific, Europe, Latin
America, North America, and the Middle East
Africa.
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Bio-Based Propylene Glycol Market - 2023
Key Players Some of the prominent players
operating in the Bio-Based Propylene Glycol
Market are Archer Daniels Midland Company (U.S.),
BASF SE (Germany), The Dow Chemical Company
(U.S.), DuPont Tate Lyle Bio Products Company,
LLC (UK), Huntsman International LLC. (U.S.),
Oleon (Belgium), Ashland. (U.S.), and
others. Geographical Analysis The report covers
brief analysis of geographical regions such as
North America, Latin America, Europe, Asia
Pacific, and the Middle East Africa. Intended
Audience Bio based propylene glycol
manufacturers Traders and Distributors of bio
based propylene glycol Production Process
Industries Potential Investors Raw Material
Suppliers Nationalized Laboratory
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