Market Overview:
North America holds the largest market 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 market. In North America, U.S. and Canada accounted for the
largest regional market 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
market 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 Market 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 market share of biodiesel which is likely
to drive the bio-based propylene market 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 market 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 market 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 Market. The continuous growth of industrial as well as
institutional construction sector in Qatar, Saudi Arabia and United Arab
Emirates (UAE) is expected to boost market growth. Moreover, rising
infrastructure development such as rail road networks, sports complex, stadiums
in Qatar is anticipated to propel market 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 Market has been segmented
because of application, end use industries and region. Based on application,
the market is segmented into unsaturated polyester resin, solvent, antifreeze
& coolant, chemical intermediates, and others. Based on the end use
industry, the market is categorized into cosmetics, building &
construction, automotive, pharmaceutical, detergent & household and others.
Based on region, this market is segmented into Asia Pacific, Europe, Latin
America, North America, and Middle East & Africa. ctors and forecast 2027
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