Propylene Glycol Market Segmentation:
Source Segment Analysis
Petroleum-based segment is estimated to account for more than 65% propylene glycol market share by the end of 2035. Petroleum-based propylene glycol is still popular even though there is increasing consciousness about bio-based products as it is cost-effective, has well-established distribution channels, and is easily accessible. In March 2023, LyondellBasell revealed plans for an expansion of its facility in Texas, where it will boost the propylene glycol production capacity by 100,000 metric tons, proving the relevance of the segment in the global market. The use in construction, automotive, and personal care sectors supports the segment’s market standing even further.
Grade Segment Analysis
By 2035, industrial grade segment is set to capture over 55.6% propylene glycol market share, owing to its applications in automotive coolants, de-icing solutions, and chemical manufacturing. The industrial grade propylene has proved to be durable in its operations and can be used in almost any field, which has propelled companies to launch innovative derivates in various markets. For example, INEOS introduced propylene glycol derivatives for specialty chemical markets in September 2022, highlighting the role of industrial grade products in high-performance applications. This growth is consistent with the increased need for chemical intermediates with multiple applications in various industries, such as construction and energy storage.
Our in-depth analysis of the global market includes the following segments:
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