The Global Bio-Based Propylene Glycol Market Is Witnessing High Growth Owing To the High Prevalence of Biorefineries in the Region

 

Bio-Based Propylene Glycol Market

Bio-Based Propylene Glycol Market, by Application (Unsaturated Polyester Resin, Antifreeze & Coolant, Chemical Intermediates, Solvent, and Others), by End-use Industry (Automotive, Food Processing, Cosmetics, Pharmaceuticals, Construction, Marine, Transportation, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2028.

Market Overview:

Bio-Based Propylene Glycol is a humectant and humidifying agent for use in a variety of products, including textiles, fabrics, polymers, pharmaceuticals, pesticides, and automobiles. It is a low molecular weight polymer that is soluble in water and forms a white, thick paste when moistened. It is commonly used as a stabilizer, humectant, and thickener in various chemical reactions and as a binder in binders and emulsions. It can also be added as an ingredient to many cosmetic and personal care products. The most common cosmetic use is as a humectant in cosmetics, skincare, and personal care products such as lotions, creams, and facial scrubs. Propylene Glycol has the benefits of being completely natural and free of any allergens or toxins. It is also considered low-cost and has been successfully used as an ingredient in a variety of consumer goods.

Competitive Landscape:

Major players operating in the global bio-based propylene glycol market include DuPont Tate & Lyle Bio Products Company, Ashland, The Dow Chemical Company, Oleon, Huntsman International LLC., BASF SE, and Archer Daniels Midland Company.

Key Market Drivers:

Increasing sales of automobiles in the world are expected to augment the growth of the global bio-based propylene glycol market. For instance, according to PD Insurance, currently, there are around 1.446 billion cars in the world. However, due to its extensive documentation and thorough safety analysis, Propylene Glycol is classified as a synthetic ingredient by the Food and Drug Administration. These are the same classifications that textile and cosmetics companies have applied to other natural ingredients that are used in personal care products. Due to this extensive documentation and analysis, Propylene Glycol is regulated by the US Food and Drug Administration like other natural ingredients. Moreover, the usage of propylene glycol in several sectors is estimated to enhance the growth of the global bio-based propylene glycol market. 

Covid-19 Impact Analysis:

During the COVID-19 pandemic, there have been several developments in the global bio-based propylene glycol market. For instance, in November 2021, Orlen Poludnie started the production of green propylene glycol, in Europe’s largest and Poland’s first green propylene glycol production unit at the company's Trzebinia-based bio refinery.

Key Takeaways:

·         North America is expected to dominate the growth of the global bio-based propylene glycol market, owing to the high prevalence of biorefineries in the region. For instance, according to the United States Environmental Protection Agency, in 2021 there were around 208 biorefineries in the U.S.

·         The Asia Pacific is estimated to witness high growth in the global bio-based propylene glycol market, owing to the increasing production of automobiles in the region. For instance, according to the Society of Indian Automobile Manufacturers, there are over 14,000 automobile companies in India.