Propylene Glycol Market worth $4.2 Billion by 2019, According to a New Study on ASDReports

Friday 10 October 2014, Amsterdam

The report segments the global propylene glycolmarket by source, application, and region. It also focuses on industry trends and market dynamics such as drivers, restraints, and opportunities.The report also defines driving and restraining factors for the global propylene glycol market with the analysis of trends, opportunities, burning issues, and winning imperatives. The major drivers include the growing demand from Asia-Pacific region and increased consumption of propylene glycol by various high impact application segments. The market size forecast is provided by major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) by both value and volume. Top players in the market have been identified and profiled.

“Europe: The Biggest Market of Propylene Glycol”

Europe was the largest market globallyfor propylene glycol in 2013 in terms of value. Germany is the key consumer of propylene glycol in Europe. Rising environmental concerns coupled with presence of domestic bio-based propylene glycol manufacturers have shifted consumer focus towards sustainable and environment-friendly chemicals. The demand for propylene glycol in this market is driven by major applications, such as unsaturated polyester resin, pharmaceuticals & cosmetics, and antifreeze & functional fluids.Pharmaceuticals & cosmetics application is the fastest growing segment for propylene glycol in Europe. The largest manufacturers of propylene glycol in this region are Dow Chemical Company (U.S.), BASF SE (Germany), and LyondellBasell Industries N.V. (The Netherlands).

“Propylene Glycol Demand in U.S. Remains Strong”

The U.S. is the leading consumer of propylene glycolglobally. It accounted for a share of ~95% in North America in 2013. The demand for conventional propylene glycol in the region is strong due to high usage in the growing end-use applications such as unsaturated polyester resin and antifreeze & functional fluids. However, the North America region is also experiencing a shift from conventional propylene glycol to bio-based propylene glycol consumption. China is the second-largest consumer of propylene glycol globally. The growth of the Chinese propylene glycol market can be attributed to it being a global manufacturing hub for various chemical derivatives and end-products. The flourishing pharmaceuticals & cosmetics industry in China is further resulting in the higher propylene glycol demand from the country.