“Bio-based Propylene Glycol Market Size: Global Industry Analysis, Market Share, Trends, Application Analysis, Growth and Forecast, 2022-2027” provides a deep and thorough evaluation of the global bio-based propylene glycol market based on its segments including type, end use and region. The report comprises the latest trends in the industry and studies their impact on the overall market. It also evaluates the market dynamics by covering the critical demand and price indicators and analyzing the market in accordance with the SWOT and Porter’s Five Forces models.
Historical Year: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
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Bio-based propylene glycol is an organic compound that is obtained through the process of hydrogenolysis. It is prepared from renewable, low-carbon sugar alcohols from corn, soy, sugarcane, or sunflowers.
Bio-based propylene glycol is similar to petroleum-based propylene glycol in its properties and has a fruity odor. It is considered an environment-friendly alternative to petrochemistry as it does not use petroleum for its manufacturing, unlike propylene glycol.
As a result, propylene glycol is widely employed in making perfumes, colognes, antifreeze, personal care products, processed foods, chemical intermediates and solvents, unsaturated polyester resins, etc.
Note: Our analysts are continuously monitoring the influence of the COVID-19 pandemic on the market. This insightful information is included in the report to improve the efficiency, resilience and overall performance of businesses.
Global Bio-based Propylene Glycol Industry Trends and Drivers:
The escalating demand for bio-based chemicals owing to the rising environmental concerns is one of the primary factors catalyzing the global bio-based propylene glycol market. In line with this, the inflating utilization of bio-based propylene glycol as it assists in minimizing greenhouse gas emissions and finds various applications in waste heat recovery, solar systems, and others.
This, in turn, is acting as another significant growth-inducing factor. Moreover, the growing use of bio-based propylene glycol in coolants and fluids in the automobile sector on account of its high boiling and low freezing point is further stimulating market growth.
Apart from this, the rising use of bio-based propylene glycol in the production of disinfectants and sanitizers, especially during the sudden outbreak of COVID-19, is creating a positive outlook for the market across the globe.
Additionally, the expanding infrastructural development in the emerging economies, along with the increasing product usage as unsaturated polyester resin in the building & construction industry, is anticipated to bolster the global bio-based propylene glycol market over the forecasted period.
Global Bio-based Propylene Glycol Market Segmentation:
The market is segmented in on the basis of type, end use and region.
- End use
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The report also provides insights on the competitive landscape of the global bio-based propylene glycol industry with the leading players profiled in the report.
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