Biobased Propylene Glycol Market Key Highlights:
- Market Size (2024): USD 4,780 Million
- Projected Market Size (2034): USD 7,430 Million
- CAGR (2024-2034): 4.5%
Pricing Analysis:
- Price Growth
- Regional Variations
Volume Analysis:
Import-Export Data
- Major Importers
- Major Exporters
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Price by Manufacturer
- Examination of pricing strategies
Biobased Propylene Glycol Market Definition
With the growing concerns about environmental sustainability, various industries are shifting their priorities from petroleum-based to biobased products. The production of petroleum-based propylene glycol leads to greenhouse gas emissions and environmental degradation. This encourages various industries to look for sustainable alternatives. Biobased propylene glycol is derived from renewable sources such as corn and sugarcane, reducing environmental impact. The increasing adoption in the automotive and chemical industries contributes to market expansion. In the automotive industry, biobased propylene glycol is used in coolants and antifreeze. It is also utilized in producing industrial chemicals.
The market is experiencing significant growth due to the rising demand for biobased propylene glycol from the pharmaceutical industry. This multifunctional chemical is used as a solvent or stabilizer in oral medications, intravenous solutions, and topical products. The rising investments in drug development positively impact the biobased propylene glycol market. Moreover, the increasing demand for personal care products significantly fuels the growth of the market, as biobased propylene glycol is extensively used in moisturizers, creams, and lotions owing to its moisturizing properties.
Biobased Propylene Glycol Market Segmentation:
By Application
- Unsaturated Polyester Resin
- Solvent
- Antifreeze & Coolant
- Chemical Intermediates
- Others Sources
By End Use Industry
- Cosmetics
- Building & Construction
- Automotive
- Pharmaceutical
- Detergent & Household
- Other End Use Industries
Biobased Propylene Glycol Market Companies:
- Archer Daniels Midland Company
- BASF SE
- The Dow Chemical Company
- DuPont Tate & Lyle Bio Products Company, LLC
- Huntsman International LLC
- Cargill
- Oleon
- Ashland
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