Propylene Glycol Industry 2023 Global Forecast & Analysis – ResearchAndMarkets.com

The “Global Market for Propylene Glycol – Forecast and Analysis 2023” is now available on ResearchAndMarkets.com. Over the recent years, the propylene glycol market has undergone significant expansion, fueled by its versatile applications across diverse industries. This colorless and odorless liquid plays a crucial role in sectors such as food and beverage, pharmaceuticals, cosmetics, as well as industrial applications like antifreeze and de-icing solutions. The market value of propylene glycol has surged due to its remarkable versatility.

Several key factors contribute to the robust growth of the propylene glycol market. Firstly, the food and beverage industry constitutes a substantial portion of propylene glycol consumption, accounting for approximately 35% of the global market in 2020. Its approval by the U.S. Food and Drug Administration (FDA) for use in food products further drives demand.

Secondly, the pharmaceutical and healthcare sector, representing around 25% of the global market in 2020, continues to be a major growth driver. Propylene glycol finds extensive application in various formulations and oral medications, sustaining its demand.

In addition, the cosmetics and personal care industry, comprising approximately 20% of the market in 2020, relies on propylene glycol for its moisturizing and emollient properties, making it a sought-after component in skincare, haircare, and personal care products.

Despite the significant growth potential, challenges related to stringent regulations and environmental concerns persist in the production and disposal of propylene glycol. However, the exploration of bio-based propylene glycol and technological advancements in production processes offer avenues for sustainable growth.

The propylene glycol market’s buoyant growth is driven by its diverse applications across various industries, solidifying its position as a vital component in modern manufacturing and consumer products. With an anticipated compound annual growth rate of approximately 5.2% from 2023 to 2027, the market is poised for continued expansion.

The report provides a meticulously researched and comprehensive assessment of the propylene glycol market, unfolding in distinct sections to furnish a comprehensive understanding. It begins with an enlightening introduction, followed by an elaborate market overview, market dynamics analysis, and thorough market segmentation based on critical factors. The report also includes a dedicated regional analysis section covering key regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, providing forecast data up to 2027.

This report stands as an indispensable resource for industry professionals, market analysts, and stakeholders, offering a profound understanding of the propylene glycol market, covering data from 2012 to 2027, and illuminating future trajectories beyond.

Key Market Statistics:

  • In 2020, the global market for propylene glycol was valued at approximately $4.7 billion.
  • The market is projected to experience a compound annual growth rate (CAGR) of around 5.2% from 2023 to 2027.
  • North America and Europe are prominent regions in propylene glycol consumption, driven by their robust industrial sectors and extensive application across various end-user industries.
  • Asia-Pacific is expected to witness substantial growth due to burgeoning demand from emerging economies like China and India.

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