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Propylene Glycol Market Foraying into Emerging Economies through 2019-2027

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Steve Blade
Propylene Glycol Market Foraying into Emerging Economies through 2019-2027

The recently published research report by Fact.MR regarding the global propylene glycol market includes product classification and current synopsis along with product upgrades and innovations. The propylene glycol market was pegged at more than 2,500 Thousand Tons in 2018, and the global market is likely to witness a strong growth rate during the forecast period on the backdrop of increasing building & construction activities along with expanding production capacities of key manufacturers across the globe. The propylene glycol market report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market progress.

To produce a range of petrochemical products, the worldwide chemical industry was strongly dependent on fossil fuels. However, increasing awareness of the advantages offered by renewable chemistry is now shifting the industry's focus on the development of bio-based chemicals such as propylene glycol. Due to the development of different end-user sectors, the propylene glycol industry is expected to experience powerful development during the forecast period. Owing to the active utilization of propylene glycol in the transportation, building & construction sectors, the petroleum-based propylene glycol segment retained an important market share.

Demand for Propylene Glycol Will Continue to Steal the Spotlight in Industrial Applications, Says Fact.MR

About two-thirds of the propylene glycol supplied is utilized as chemical feed to manufacture unsaturated polyester resins. Propylene glycol's industrial applications include the manufacturing of paints and coatings, resins and plastics which are used as intermediates for the production of other chemical substances such as unsaturated polyester resins used in pipes or windmill blades, as well as bath and kitchenware. Propylene glycol presently is being utilized in a wide range of industrial applications including pharmaceutical and cosmetics which hold a considerable market share. Propylene glycol is also used in tobacco products as a preservative, solvent and a significant component of e-liquid used in vegetable glycerin.

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Moreover, propylene glycol is also widely used in cosmetics and personal care products which acts as the most prominent driver for the global propylene glycol market. The Fact.MR report offers a forecast of the global propylene glycol market for the period 2019-2027. Advancements in end-use applications are urging market players to invest heavily in R&D activities. Propylene glycol as a chemical intermediary will be the most lucrative end-use application during the forecast period.

Propylene Glycol’s Highly Toxic and Hazardous Nature Could Hamper Market Growth

According to the study, the rapid utilization of propylene glycol is known to pose several occupational health hazards. Although Propylene glycol has been approved for use at certain levels in food and cosmetics according to the Food and Drug Administration (FDA), the widespread utilization of propylene glycol in industries is still regarded as harmful. This factor is expected to hinder the market growth during the forecast period.

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