Propylene Glycol Market Analysis

End-user (Transportation, Building & Construction, Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care)

The global propylene glycol market is segmented and analyzed for demand and supply by end-user into transportation, building & construction, food & beverage, pharmaceuticals, and cosmetics & personal care. Out of these, the transportation segment is anticipated to hold the largest market share by the end of 2037. Propylene glycol is used in fire-resistant brakes and hydraulic fluids, as a coolant in the transportation industry such as engine cooling, as a raw material for aircraft deicing, and as a heat transfer fluid in high-temperature applications. Unsaturated polyester resins can also be reinforced with glass fibers to make products such as corrosion-resistant tanks and pipe transits that are widely used in vehicle and marine construction. Progress in vehicle development and recovery in consumer demand, especially in terms of safety and comfort, are expected to support the demand for materials such as propylene glycol in the coming years.  Therefore, all these factors are predicted to provide opportunities for the growth of the segment in the market over the forecast period. As per the report of ACEA, in 2021, hybrid electric vehicles held 19.6% of all the latest passenger cars in the EU compared to 12% in 2020.

Source (Petroleum Based, Bio-Based)

The global propylene glycol market is segmented and analyzed for demand and supply by source into petroleum-based and bio-based. Out of these, the bio-based segment is anticipated to hold the largest market share by the end of 2037. This can be attributed owing to the demand for renewable sources and eco-friendly production methods. This growth is attributed to the increased adoption of greener alternatives as they produce 61% less greenhouse gas emissions compared to petroleum-based products. Growing demand for sustainable and eco-friendly products and growing awareness of the harmful effects of fossil fuels on the environment are the major growth drivers in the bio-based segment of the market by the end of the year 2037.

Our in-depth analysis of the global market includes the following segments: