Bio-Based Propylene Glycol Market Research Report- Forecast Till 2030

Bio-Based Propylene Glycol (PG) 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 2030

ID: MRFR/CnM/2889-HCR | February 2021 | Region: Global | 136 Pages         

TABLE OF CONTENTS:

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Bio-Based Propylene Glycol Market

5 Industry Overview of Global Bio-Based Propylene Glycol Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

5.5 Impact analysis

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Bio-Based Propylene Glycol Market by Application

7.1 Introduction

7.2 Unsaturated Polyester Resin

7.3 Solvent

7.4 Antifreeze & Coolant

7.5 Chemical Intermediates

7.6 Others

8. Global Bio-Based Propylene Glycol Market by End Use Industry

8.1 Introduction

8.2 Cosmetics

8.3 Building & Construction

8.4 Automotive

8.5 Pharmaceutical

8.6 Detergent & Household

8.7 Others

9. Global Bio-Based Propylene Glycol Market by Region

9.1 Introduction

9.2 North America

9.2.1 US

9.2.2 Canada

9.3 Europe

9.3.1 Germany

9.3.2. France

9.3.3 Italy

9.3.4 Spain

9.3.5 UK

9.4 Asia Pacific

9.4.1 China

9.4.2 India

9.4.3 Japan

9.4.4 Australia

9.4.5 New Zealand

9.4.6 Rest of Asia Pacific

9.5 Middle East & Africa

9.5.1 Turkey

9.5.2 Israel

9.5.3 North Africa

9.5.4 GCC

9.5.5 Rest of Middle East & Africa

9.6 Latin America

9.6.1 Brazil

9.6.2 Argentina

9.6.3 Rest of Latin America

10. Company Landscape

11. Company Profiles

11.1 Archer Daniels Midland Company

11.1.1 Company Overview

11.1.2 Product/Business Segment Overview

11.1.3 Financial Updates

11.1.4 Key Developments

11.2 BASF SE

11.2.1 Company Overview

11.2.2 Product/Business Segment Overview

11.2.3 Financial Updates

11.2.4 Key Developments

11.3 The Dow Chemical Company

11.3.1 Company Overview

11.3.2 Product/Business Segment Overview

11.3.3 Financial Updates

11.3.4 Key Developments

11.4 DuPont Tate & Lyle Bio Products Company, LLC

11.4.1 Company Overview

11.4.2 Product/Business Segment Overview

11.4.3 Financial Updates

11.4.4 Key Developments

11.5 Huntsman International LLC.

11.5.1 Company Overview

11.5.2 Product/Business Segment Overview

11.5.3 Financial Updates

11.5.4 Key Developments

11.6 Oleon

11.6.1 Company Overview

11.6.2 Product/Business Segment Overview

11.6.3 Financial Updates

11.6.4 Key Developments

11.7 Ashland.

11.7.1 Company Overview

11.7.2 Product/Business Segment Overview

11.7.3 Financial Updates

11.7.4 Key Developments

12 Conclusion

LIST OF TABLES:

Table 1 World Population by Major Regions (2020-2027)

Table 2 Global Bio-Based Propylene Glycol Market: By Region, 2020-2027

Table 3 North America Bio-Based Propylene Glycol Market: By Country, 2020-2027

Table 4 Europe Bio-Based Propylene Glycol Market: By Country, 2020-2027

Table 5 Asia-Pacific Bio-Based Propylene Glycol Market: By Country, 2020-2027

Table 6 Middle East & Africa Bio-Based Propylene Glycol Market: By Country, 2020-2027

Table 7 Latin America Bio-Based Propylene Glycol Market: By Country, 2020-2027

Table 8 Global Bio-Based Propylene Glycol by Application Market: By Regions, 2020-2027

Table 9 North America Bio-Based Propylene Glycol by Application Market: By Country, 2020-2027

Table 10 Europe Bio-Based Propylene Glycol by Application Market: By Country, 2020-2027

Table 11 Asia-Pacific Bio-Based Propylene Glycol by Application Market: By Country, 2020-2027

Table 12 Middle East & Africa Bio-Based Propylene Glycol by Application Market: By Country, 2020-2027

Table 13 Latin America Bio-Based Propylene Glycol by Application Market: By Country, 2020-2027

Table 14 North America Bio-Based Propylene Glycol for End use Industry: By Country, 2020-2027

Table 15 Europe Bio-Based Propylene Glycol for End use Industry: By Country, 2020-2027

Table 16 Asia-Pacific Bio-Based Propylene Glycol for End use Industry: By Country, 2020-2027

Table 17 Middle East & Africa Bio-Based Propylene Glycol for End-use Industry: By Country, 2020-2027

Table 18 Latin America Bio-Based Propylene Glycol for End-use Industry: By Country, 2020-2027

Table 19 Global Application Market: By Region, 2020-2027

Table 20 Global End Use Industry Market: By Region, 2020-2027

Table 21 North America Bio-Based Propylene Glycol Market, By Country

Table 22 North America Bio-Based Propylene Glycol Market, By Application

Table 23 North America Bio-Based Propylene Glycol Market, By End Use Industry

Table 24 Europe: Bio-Based Propylene Glycol Market, By Country

Table 25 Europe: Bio-Based Propylene Glycol Market, By Application

Table 26 Europe: Bio-Based Propylene Glycol Market, By End use Industry

Table 27 Asia-Pacific: Bio-Based Propylene Glycol Market, By Country

Table 28 Asia-Pacific: Bio-Based Propylene Glycol Market, By Application

Table 29 Asia-Pacific: Bio-Based Propylene Glycol Market, By End use Industry

Table 30 Middle East & Africa: Bio-Based Propylene Glycol Market, By Country

Table 31 Middle East & Africa Bio-Based Propylene Glycol Market, By Application

Table 32 Middle East & Africa: Bio-Based Propylene Glycol Market, By End use Industry

Table 33 Latin America: Bio-Based Propylene Glycol Market, By Country

Table 34 Latin America Bio-Based Propylene Glycol Market, By Application

Table 35 Latin America: Bio-Based Propylene Glycol Market, By End use Industry


LIST OF FIGURES:

FIGURE 1 Global Bio-Based Propylene Glycol Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Bio-Based Propylene Glycol Market

FIGURE 4 Value Chain of Global Bio-Based Propylene Glycol Market

FIGURE 5 Share of Global Bio-Based Propylene Glycol Market in 2020, by country (in %)

FIGURE 6 Global Bio-Based Propylene Glycol Market, 2020-2027,

FIGURE 7 Sub segments of End Use Industry

FIGURE 8 Global Bio-Based Propylene Glycol Market size by End Use Industry, 2020

FIGURE 9 Share of Global Bio-Based Propylene Glycol Market by End Use Industry, 2020-2027

FIGURE 10 Global Bio-Based Propylene Glycol Market size by Application, 2020

FIGURE 11 Share of Global Bio-Based Propylene Glycol Market by Application, 2020-2027

Bio-Based Propylene Glycol (PG) Market

The worldwide Bio-Based Propylene Glycol Market has been expected to reach a CAGR of 4.5%, with a value of USD 3784.0 million during the estimated forecasting period of 2022-2029

Segmentation

By Application Unsaturated Polyester Resin Solvent Antifreeze & Coolant Chemical Intermediates Others
By End Use Industry Cosmetics Building & Construction Automotive Pharmaceutical Detergent & Household Others

Key Players

  • Dow Inc.
  • BASF SE
  • Shell Chemicals
  • Repsol S.A.
  • Archer Daniels Midland Company
  • LyondellBasell Industries Holdings B.V.

Drivers

  • The growing detergent & household industry
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Bio-Based Propylene Glycol (PG) Market Overview:


In addition, the worldwide bio-based propylene glycol market has been expected to reach a CAGR of 4.5%, with a value of USD 3784.0 million during the estimated forecasting period of 2022-2029.


The low toxicity of the bio-based propylene glycol as compared to ethylene glycol is expected to boost the usage in cosmetics and personal care accessories on a huge scale. As ethylene glycol is considered a poisonous material, it must be handled with caution to restrict an animal or human submission, which will witness her demand within the global market during the estimated forecasting period of the manufacturing process of the glycol with high performance and unsaturated polyester adhesives or pastes for numerous uses like reinforced plastic laminating work for marine construction, gel coats, synthetic marble casting and sheet molding compounds are projected to witness significant demand in the world. It is also a huge midway in the production sectors as well as the in the alkyd adhesives industries. The most considerable fact is to demand the expectation for propylene glycol from the pharmaceutical industry as it is a well-known and huge industry in the global bio-based propylene glycol market field. The bio-based propylene glycol from this pharmacy industry has been utilized for several issues. It is considered as the usage purpose of the broad range of pharmaceutical medication that as a humectant in tropical medication which is a preservative in solution. The bio-based propylene glycol market growth has been driven by the increase of unsaturated polyester adhesives, which are widely used in reinforced plastic as well as the fiberglass composite in transportation, construction, automobiles or any marine industries. Due to the rise of the emerging new technologies in the global market, some of the market heavy industries want to increase the most advanced manufacturing product, which has helpful for these sectors. All these bio-based propylene glycol market sectors have been hugely and rapidly increasing on the global platforms. 


Covid-19 Analysis:


Propylene glycol is generally used in household care products. The rising demand for liquid detergent, as well as the coatings and paint sectors, have driven the growth of the bio-based propylene glycol market size. The remarkable demand for this product could ultimately improve this bio-based propylene glycol market. The worldwide manufacturing industries in somehow use this product extensively, especially in the heavy airline industry, this type of product has been used significantly. But when the outbreak of Covid-19 has placed on the world, everything has just collapsed. Due to the global health emergency cases, the governments from numerous regions have been bound to implement strict lockdown procedures as well as the issue of sealing the international border areas has created a huge impact on the global bio-based propylene glycol market. Due to the stoppage of commercial activities, most of the industrial sectors and business professionals shave facing a huge loss in terms of revenue parts. Most people prefer to work from home, but it is not possible for the industrial sectors. The rising cost of labor, as well as the insufficient raw materials, have introduced the market to face a huge challenge across the world. 


The Chief Factors Existing in the Market:



Key Market Drivers:

The demand for bio-based propylene glycol has been raised vastly along with the pharmaceutical as well as the packaged goods companies. All the demand s have been growing so faster than the regular propylene glycol. These are the key factors for which the key market drivers have taken the chance to introduce the business and more production manufacturing rate in the bio-based propylene glycol market.

Market Challenge:

One of the most significant challenges is how to overcome this pandemic situation. The increasing health awareness and the global growth of population sectors have ultimately led the company to the present bio-based propylene glycol market, which offers a huge challenge for the new business sectors.

Market Opportunities:

The global bio-based propylene glycol market has been given a huge market opportunity to the industry’s most prominent players to generate more production. But the global market has been facing a huge challenge during the lockdown. All the market products, as well as the rising of manufacturing accessories, have been increased due to the involvement of new business sectors.

Market Restraints:

The eco-friendly methods of the manufacturing of propylene glycol are one of the essential factors that drive the growth of the bio-based propylene glycol market values. The growth of the market totally depends on the production rate of the manufacturing industries that are able to produce heavy industrial equipment. Due to this, the global cost of raw materials has also raised so far, for which market restraints have been placed in the global sectors.

Cumulative Evaluation in the Market:


Propylene glycol is generally used in the coolant in automobile industries due to having a lower freezing point quality. The coolant helps to prevent corrosion in the cooling system, and it is also carried away with the engine’s heating procedures. All the facts are more affecting while the global pandemic has been placed in front of the market. The market has been hugely impacted during the lockdown procedures. For the global health emergency, most governments from several regions have been bound to place strict lockdown procedures. Due to the stoppage of international commercial procedures, the most nation faces serious economic problem during such period of time. It is also a factor that modern technology, as well as advanced manufacturing accessories, have definitely helped to boost the market growth during the upcoming period of time. The significant growth of the automobile sector has been placed a huge impact on the global bio-based propylene glycol market sectors.



The Global Bio-Based Propylene Glycol Market Share by End Use Industry (2016), (%):Bio-Based Propylene Glycol Market.

Market Segmentation:


According to the bio-based propylene glycol market analysis, the entire market has been segmented into three types such as by application, end-user and regional sectors. In terms of the application part, the global bio-based propylene glycol market has been segmented into five sections solvent, chemical intermediates, unsaturated polyester adhesives, antifreeze and coolant and others. The end-user industry is further classified into eight patterns food processing, construction, cosmetics, automotive, pharmaceuticals, transportation, marine and others. On the basis of the regional sectors, the global market has been divided into five sectors like Asia-Pacific, Europe, South America, North America and Middle East & Africa.


Regional Analysis:


The Asia-Pacific region has been expected to be the fastest and highest growing nation in the field of bio-based propylene glycol marketsectors. Due to the increase in construction as well as the automobile and pharmaceutical industries, particularly in China, India, Malaysia and other nations, have led this market sector to raise so tremendously. All the products that are made from bio-based propylene glycol are utilized in building the panels, bathroom components, corrosion-resistant tanks and others. In India, several people are living in urban places, which are affecting more in such industries and due to this, it is really expected to grow value by approximately 600 million within the upcoming years. The real-estate market sectors in India have been expected to increase with the value of USD 853 billion within the forecasting period of quarters. 


Competitive Intensity within the Industry:


According to the growth of the global bio-based propylene glycol market, the experts have seen that the number of new business sectors has also raising in these sectors. Due to this, most of the new development, as well as the modern industrial accessories and equipment, have come up in the market sectors around the world. Due to the establishment of heavy industries and mega factories, the global market has been generating a huge number of revenues and also, the shareholder wants to invest in such a business sector who are willing to contribute and focus on generating the maximum number of products.


Some of the major key players in such industries are:



  • Dow Inc.

  • BASF SE

  • Shell Chemicals

  • Repsol S.A.

  • Archer Daniels Midland Company

  • LyondellBasell Industries Holdings B.V.


Recent Market Development:


Archer Daniels Midland Company and Clariant AG have jointly announced the introduction of the deicing products derived from the bio-based propylene glycol In the North American Regions. The products are included in Clariant’s brand of aircraft, which is made with ADM’s bio-based propylene glycol. This propylene glycol offers high performance, and it has also reduced the carbon footprint. Another biotechnology company named METabolic Explorer has been engaged in developing bio-based compounds, which announced that the company has focused on the development in the bio-based propylene glycol market sectors.


Report Overview:


The main objective of the study report is to define the market sizes of the different segments and the regions in the previous years and to forecast the values for the next upcoming years. The reports also cover all the information about revenue growth and market players as well as the key industrial issues in the market. Moreover, the information also provides the essential aspects of the market's challenging factors as well as the major opportunities. The impact of Covid-19 on the global market and the right strategies or patterns that the marketers and shareholders want to apply to their industrial sectors are also placed in this report. 


Key Industrial Segment:


Application:



  • Solvent

  • Chemical Intermediates

  • Unsaturated Polyester Adhesives

  • Antifreeze & Coolant

  • Others


End-User Industry:



  • Food Processing

  • Construction

  • Cosmetics

  • Automotive

  • Pharmaceuticals

  • Transportation

  • Marine

  • Others


Regional Analysis:



  • Asia-Pacific

  • Europe

  • North America

  • South America

  • Middle East & Africa



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   5.3%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   application and end use industries
  Geographies Covered   North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
  Key Vendors   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.)
  Key Market Opportunities   The process Hydrogenolysis in which glycerin is converted into propylene glycol.
  Key Market Drivers   The growing detergent & household industry


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Frequently Asked Questions (FAQ) :

Building & construction is the largest segment in the global bio-based propylene glycol market

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global bio-based propylene glycol market adopt to gain a larger competitive advantage.

Asia Pacific accounts for the largest share in the global bio-based propylene glycol market. The region is anticipated to retain its dominance throughout the assessment period (2020-2030).

BASF SE (Germany), Archer Daniels Midland Company (US), The Dow Chemical Company (US), Huntsman International LLC. (US), DuPont Tate & Lyle Bio Products Company, LLC (UK), and Oleon (Belgium), Ashland. (US), are some of the leading players in the global bio-based propylene glycol market.

The worldwide bio-based propylene glycol market has been expected to reach during the estimated projected period of 2022-2029.

The global market has been estimated to increase at a CAGR of 4.5%, with a value of USD 3784.0 million during the projected quarters.