Industry Overview:
North America holds the largest Industry for bio-based
propylene glycol followed by Europe and Asia Pacific. North America is
predicted to witness significant growth in the use of bio-based propylene
glycol owing to the increasing R&D activities and innovations by the major
players operating in this Industry. In North America, U.S. and Canada accounted
for the largest regional Industry share in terms of value. Bio based propylene
glycol usage in automotive, construction, and cosmetics, and for application
antifreeze & coolant and chemical intermediate is anticipated to drive Industry
growth in the region.
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In Europe, countries such as France, Italy, Germany, and
Spain dominated the region due to the growth of end use industries. Moreover,
consumer spending on personal care products and cosmetics, improved standard of
living are the major drivers of the bio-based propylene glycol Industry in the
developed countries of Europe and North America. Furthermore, U.S., Germany,
Argentina, and Brazil are among the major producers of biodiesel as well as glycerin
and is expected to hold the major largest Industry share of biodiesel which is
likely to drive the bio-based propylene Industry growth in the near future.
Asia Pacific is expected to grow at a faster rate during the
forecast period due to increasing consumption of bio-based propylene glycol in
numerous end use industries such as building & construction, household
cleaning, and automotive. Asia Pacific is expected to see significant growth in
demand driven by rising construction activities in emerging economies such as
China, India, Vietnam, and Bangladesh. Rising number of working professionals
coupled with growing demand for beauty and personal care are expected to drive
the Industry growth over the forecast period. Technological advancement in
cosmetics, attractive packaging, and rising consumer awareness regarding
personal care and changing fashion trends are predicted to drive cosmetic
industry which in turn is likely to propel Industry growth in the upcoming
years. Moreover, the inclination for bio-based propylene glycol in various
industries and prompt urbanization are driving the growth of Bio
Based Propylene Glycol Industry. The continuous growth of industrial as
well as institutional construction sector in Qatar, Saudi Arabia and United
Arab Emirates (UAE) is expected to boost Industry growth. Moreover, rising
infrastructure development such as rail road networks, sports complex, stadiums
in Qatar is anticipated to propel Industry growth.
Key players-
· Archer Daniels
Midland Company
· BASF SE
· The Dow
Chemical Company
· DuPont Tate
& Lyle Bio Products Company, LLC
· Huntsman
International LLC.
· Oleon
· Ashland.
Segmentation
Global Bio-Based Propylene Glycol Industry has been
segmented because of application, end use industries and region. Based on
application, the Industry is segmented into unsaturated polyester resin,
solvent, antifreeze & coolant, chemical intermediates, and others. Based on
the end use industry, the Industry is categorized into cosmetics, building
& construction, automotive, pharmaceutical, detergent & household and
others. Based on region, this Industry is segmented into Asia Pacific, Europe,
Latin America, North America, and Middle East & Africa. ctors and forecast
2027
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