The global propylene glycol market size is expected to reach USD 5.89 billion by 2028 according to a new study by Polaris Market Research. The report “Propylene Glycol Market Share, Size, Trends, Industry Analysis Report, By Grade (Pharmaceutical, Industrial); By Source (Bio-Based, Petroleum-Based); By End-Use (Food & Beverage, Automotive, Personal Care & Cosmetics, Chemical, Pharmaceutical, Construction); By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Propylene glycol is increasingly being used across diverse industries such as pharmaceutical, medicine, automotive, and industrial. There has been an increasing demand for propylene glycol for industrial applications such as paints and coatings, aircraft de-icing, solvent, anti-freeze, and liquid detergents among others. It can provide a heat-transfer medium offering a barrier against pressure burst and corrosion.
The different sources of propylene glycol include bio-based propylene glycol and petroleum-based propylene glycol. The petroleum-based propylene glycol segment dominated the global market in 2019. However, the demand for bio-based propylene glycol is expected to increase significantly during the forecast period. Increasing environmental concerns and a growing shift towards the use of organic personal care products drive the growth of this segment.
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