May 10, 2017   SOURCE: BusinessWire

Propylene Glycol Market 2017 - Global Forecast to 2021: Rising Demand for Bio-Based PG in Pharmaceutical & Cosmetics Application - Research and Markets

Research and Markets has announced the addition of the "Propylene Glycol Market - Global Forecast to 2021" report to their offering.

The propylene glycol market is projected to reach USD 4.60 billion by 2021, at a CAGR of 5.8% from 2016 to 2021

The growth is primarily due to growing demand for propylene glycol in automotive coolant application coupled with eco-friendly production process of bio-based propylene glycol.

On the basis of source, petroleum-based propylene glycol is projected to be the largest segment in the global propylene glycol market from 2016 to 2021. Petroleum-based propylene glycol is the most widely used propylene glycol due to its widespread applications. Moreover, the rising demand from the construction and transportation industries is also fueling the growth of this segment.

Transportation is expected to be the largest end-use industry of the global propylene glycol market from 2016 to 2021. The rising demand for propylene glycol in automotive coolants, aircraft deicing fluids, hydraulic & brake fluids, and power cruisers applications is driving this segment. Moreover, economic development in the Asia-Pacific region is also driving the global propylene glycol market in transportation industry.

The Asia-Pacific region is the largest and the fastest-growing propylene glycol market. Economic development, followed by substantial investments in industries such as transportation, and building & construction is fueling the propylene glycol market. With economic contraction and saturation in the European and North American markets, demand is shifting to the Asia-Pacific region.

Market Dynamics

Drivers

  • Petroleum-Based PG
  • Growing Demand From Asia-Pacific Region
  • Bio-Based PG
  • Eco-Friendly Production Process

Restraints

  • Petroleum-Based PG
  • Maturity of the Product
  • Industries Switching to Bio-Based PG
  • Bio-Based PG
  • Huge Investment in R&D

Opportunities

  • Petroleum-Based PG
  • Growing Opportunities in Emerging Economies Such as China and India
  • Bio-Based PG
  • Rising Demand for Bio-Based PG in Pharmaceutical & Cosmetics Application

Challenges

  • Petroleum-Based PG
  • Fluctuating Raw Material Costs

Companies Mentioned

  • Adeka Corporation (Japan)
  • Archer Daniels Midland Company
  • Arrow Chemical Group Corp. (China)
  • Asahi Glass Co., Ltd. (Japan)
  • BASF SE
  • Chaoyang Chemicals, Inc. (U.S.)
  • Dongying Hi-Tech Spring Chemical Industrial Co., Ltd. (China)
  • Dupont Tate & Lyle Bio Products Company, LLC
  • Global Bio-Chem Technology Group Co., Ltd.
  • Golden Dyechem (India)
  • Haike Chemical Group (China)
  • Helm AG (Germany)
  • Huntsman Corporation
  • Ineos Oxide (Switzerland)
  • Lyondellbasell Industries N.V.
  • Manali Petrochemicals Limited (India)
  • Oleon Nv (Belgium)
  • Other Key Market Players
  • Oxyde Belgium B.V. (Belgium)
  • Qingdao Shida Chemical Co., Ltd. (China)
  • Royal Dutch Shell PLC.
  • SKC Co., Ltd.
  • Shandong Depu Chemical Industry Science and Technology Co., Ltd (China)
  • Temix International S.R.L.
  • The DOW Chemical Company
  • Tongling Jintai Chemical Industrial Co., Ltd. (China)
  • Trinternational, Inc. (U.S.)

For more information about this report visit http://www.researchandmarkets.com/research/cz287n/propylene_glycol