Propylene Glycol Market -Overview
The escalation in demand in food and beverages is estimated to stimulate the Propylene Glycol Market 2022. The basic chemicals reports are made by Market Research Future, which includes market options for development. The market is poised for exceptional growth in the forecast period.
As the demand for convenience foods increases with the surge in spending power is estimated to spur the propylene glycol market share in the forecast period. Moreover, the steadily increasing usage of cosmetics is estimated to further promote the propylene glycol market size in the forecast period. Also, the use of propylene glycol in household cleaning products is anticipated to spur the global market in the forecast period.
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Segmental Analysis
The segmental study of the propylene glycol market is segmented on the basis of end-use industry, source, grade, and region. Based on the end-use industry, the propylene glycol market is segmented into pharmaceutical, food & beverage, building & construction, cosmetics & personal care, automotive, and others. Based on the region, the propylene glycol is segmented into Europe, the Middle East, Latin America, Asia Pacific, North America, and Africa. Based on the source, the propylene glycol market is divided into bio-based and petroleum-based. Based on the grade, the propylene glycol market is split into pharmaceutical grade and industrial grade.
Detailed Regional Analysis
The regional assessment of the propylene glycol market includes regions such as Europe, the Middle East, Latin America, Asia Pacific, North America, and Africa. The region in the Asia Pacific is anticipated to be the principal and the quickest mounting market for propylene glycol in 2017 due to altering lifestyle, swift industrialization & urbanization, mounting disposable revenue, increasing health awareness, and lenient investment norms. The North American region was the second biggest market for propylene glycol after the Asia Pacific region in 2017 and anticipated to display significant growth in the forecast period. The elevated demand pharmaceutical, chemical, food & beverages, from building & construction, cosmetics & personal care, aerospace is anticipated to propel the regional propylene glycol market. The European regional market is anticipated to show stable demand for propylene glycol over the forecast period, and the demand is anticipated to come from the robust automotive industry, cosmetics & personal care, food & beverages, and chemical industry, among others.
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Competitive Analysis
The rivalry in the market is forecasted to be the decisive purpose for more than a few growth policy restructuring in the global market. The prerequisite to pool feasible alliances is appraised to be ever more realized in the market. The amendment in assembly and delivery strategies are assessed to reinforce the market on an international level in the estimated period. The move to an effective working setting is predicted to modify the established way of working in the appraisal period. The market in the imminent period is appraised to be demarcated by the strategies agreed to by the governments to revive the overall market. The requirement to keep in contact with the end-users and, at the same time, advantageously augmenting comprehensive footprint is appraised to develop as a primary objective of more than a few market stakeholders. The necessity to generate an improved service delivery channel is projected to describe the subsequent phase of global market growth. The market is projected to detect the repercussions of the present predicament in the immediate future as well.
The illustrious companies functioning in the propylene glycol market are Global Bio-chem Technology Group Company Limited (China), BASF SE (Germany), ADEKA CORPORATION (Japan), LyondellBasell Industries Holdings B.V. (Netherlands), Chaoyang Chemicals, Inc. (U.S.), Huntsman International LLC. (U.S.), DowDuPont Inc. (U.S.), Archer Daniels Midland Company (U.S.), Manali Petrochemicals Limited (India), and HaiKe Chemical Group (China).
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