Propylene Glycol Market Share

APAC Market Statistics

The market in the Asia Pacific region is anticipated to account for the largest market share by the end of 2037. The growing population in the Asia Pacific region is giving rise to more and more construction activities, which further is driving the growth of the market in the region. Propylene glycol is used to make unsaturated polymer resins with a wide range of uses. These resins are used to make construction products such as sewer pipes and floor tiles. In the paint industry, propylene glycol is used as a solvent for paints. Therefore, it is expected to expand the growth of the market in the region. China is expected to spend about USD 13 trillion on buildings construction by 2030. China's construction output has increased from USD 9.6 trillion in 2010 to USD 26.59 trillion in 2020, according to China's National Bureau of Statistics.  Furthermore, the increase in the number of working women in the countries such as India, and China is further predicted to drive the market’s growth in the region.

North American Market Forecast

The market in the North American region is anticipated to grow significantly in the forecast period. The growth of this market can be attributed to the growing construction industry promoted by rapid expansion in the residential sector in the North American region. In 2021, Canada's construction industry is expected to grow to USD 72.02 billion, with residential construction up 19.7%. Increased construction activity across the region may increase the demand for propylene glycol shortly. 

Europe Market Forecast

The market in the Europe region is estimated to account for a significant market share by the end of 2037. The European propylene glycol market is driven by various factors such as increasing demand from the end-use industry, growing awareness of sustainable products, and the introduction of stringent regulations on the use of propylene glycol. Major end-use industries for propylene glycol in Europe include food and beverages, pharmaceuticals, cosmetics and personal care products, and industrial chemicals. Demand for propylene glycol from these industries is driven by factors such as changing consumer preferences, technological advancements, and government regulations. Propylene glycol is regulated in Europe for use in food, pharmaceuticals, and personal care products.  Hence, it is anticipated to rise the growth of the market in the region.