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Bio Based Propylene Glycol 2022 Global Market – Challenges, Drivers, Outlook, Segmentation – Analysis to 2030

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Bio Based Propylene Glycol 2022 Global Market – Challenges, Drivers, Outlook, Segmentation – Analysis to 2030

April 22
22:56 2022

Market Overview

The Bio-Based Propylene Glycol (PG) Market is expected to grow at a CAGR of 4.5% and is expected to reach a value of USD 3784.0 million during the forecast period. Because bio-based propylene glycol has lower toxicity than ethylene glycol, it is predicted to be widely used in cosmetics and personal care products. Because ethylene glycol is a poisonous substance, it must be handled with caution to avoid causing harm to animals or humans. During the forecasting period, the manufacturing process of glycol with high performance and unsaturated polyester adhesives or pastes for a variety of applications such as reinforced plastic laminating work for marine construction, gel coats, synthetic marble casting, and sheet molding compounds. It also serves as a major crossroads in the manufacturing and alkyd adhesives industries. The most important fact is that the pharmaceutical sector, which is a well-known and large industry in the worldwide bio-based propylene glycol market field, has high expectations for propylene glycol. This pharmacy industry’s bio-based propylene glycol has been used to solve some problems. It is used as a humectant in tropical medicine and as a solution preservative. The increase in unsaturated polyester adhesives, which are widely used in reinforced plastic and fiberglass composite in transportation, construction, and automobiles, has fueled the expansion of the bio-based propylene glycol market.

Market Segmentation

Based on the application, the global bio-based propylene glycol market has been segmented into solvent, chemical intermediates, unsaturated polyester adhesives, antifreeze and coolant, and others.

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Based on the end-user industry, the global bio-based propylene glycol market has been segmented into eight patterns food processing, construction, cosmetics, automotive, pharmaceuticals, transportation, marine, and others.

Based on the region, the global bio-based propylene glycol market has been segmented into Asia-Pacific, Europe, South America, North America, and Middle East & Africa.

Regional Classification

In the sphere of bio-based propylene glycol market sectors, the Asia-Pacific region is predicted to be the quickest and most rapidly increasing region. Construction, as well as the automobile and pharmaceutical sectors, have exploded in China, India, Malaysia, and other countries, propelling this market sector to new heights. All bio-based propylene glycol-based products are used in the construction of panels, bathroom components, corrosion-resistant tanks, and other items. In India, many people live in cities, which has a greater impact on such businesses, and as a result, it is predicted to rise in value by around 600 million in the future years.

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Industry News

The major key players in the Bio-Based Propylene Glycol (PG) Market are Archer Daniels Midland Company, BASF SE, The Dow Chemical Company, DuPont Tate & Lyle Bio Products Company, LLC, Huntsman International LLC., Oleon, and Ashland. As a result, the majority of new development, as well as modern industrial accessories and equipment, has emerged in market sectors all over the world. The worldwide market has been creating a significant number of revenues as a result of the creation of heavy industries and mega factories, and shareholders want to invest in such a business sector that is willing to contribute and focus on producing the maximum number of items.

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