Chemicals and Material News

The new report by Expert Market Research titled, ‘Global Propylene Glycol Market Growth, Size, Share, Analysis, Trends, Report and Forecast 2020-2025’, gives an in-depth analysis of the global propylene glycol market, assessing the market based on its segments like applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

The key highlights of the report include:

Market Overview (2015-2025)

1. Historical Market Size (2019): 2.72 million metric tons
2. Forecast CAGR (2020-2025): 4.4%
3. Forecast Market Size (2025): 3.5 million metric tons

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The rapidly growing demand for unsaturated polyester resins in the transportation, construction, automobile, and marine industries is expected to support the growth of the propylene glycol market. During the winter, the demand for the product is largely driven by the food and cosmetics industries, as well as the airline industry, due to the application of ethylene glycol as a de-icing and anti-freezing agent. The growth in automobiles, construction, and pharmaceutical industries in the Asia Pacific region is expected to be a key factor in the expansion of the global propylene glycol market. Due to rising environmental standards, various industries are increasing the use of propylene glycol as it is less toxic and has fewer side-effects than its substitutes.

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Industry Definition and Major Segments

Propylene glycol is the common name for propane-1,2-diol (IUPAC) and has the formula, CH3CH(OH)CH2OH. It is an organic compound with viscous properties and appears as a colourless liquid. It is classified as a diol as it contains two alcohol (-OH) groups. It is commonly produced from propylene oxide industrially.

Propylene glycol finds extensive application in the following industries:

1. Unsaturated Polyester Resins
2. Functional Fluids
3. Food, Drug, and Cosmetics
4. Liquid Detergent
5. Paints and Coating
6. Others

The major regions in the market are:

1. North America
2. Latin America
3. Europe
4. Middle East and Africa
5. Asia Pacific

Market Trends

Ineos, one of the global leaders of propylene glycol, marked a new high for propylene glycol prices in 2018, due to a very long and cold winter. As climate change exacerbates, it is predicted that propylene glycol may show increased demand especially in Europe and North America due to its use as a de-icing and anti-freezing agent. An increase in prices during winter has historically shown to keep prices up during summer as well. Sadara Chemical Co, a joint venture between Dow Inc. (NYSE:DOW) and Saudi Aramco (TADAWUL: 2222), started production at a new propylene glycol plant in 2017. This is in response to the rising demand for the chemical in the region.

Also Read@ Impact of COVID-19 on Global Polypropylene Market

Key Market Players

The major players in the market are Dow Chemical Company, LyondellBasell Industries N.V., INEOS Group, Shell Chemicals LP, BASF SE, SKC Chemicals Group, Sumimoto Chemical Co., Ltd, Archer Daniels Midland Company, and Repsol S.A. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally

At EMR, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture

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Informes de Expertos, the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.

Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

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Company Name: Expert Market Research
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