(MENAFN- EIN Presswire)
Bio-Based Propylene Glycol
Bio-Based Propylene Glycol market is propelling on the grounds of growing environmental concerns and the commercialization of bio-based chemicals
SEATTLE, WA, US, January 5, 2022 /EINPresswire.com / -- Bio-Based Propylene Glycol Market is propelling on the grounds of growing environmental concerns and the commercialization of bio-based chemicals , Bio-based propylene glycol is a catalytically produced product that has a high boiling and flash point, is stable, and has a low vapour pressure. Propylene glycol manufacturing methods that are environmentally friendly are a major factor driving the global bio-based propylene glycol market. According to the International Trade Organization (ITA) of the United States, China is the world's largest vehicle market, with sales of over 28 million units in 2016, and 35 million units expected by 2025.
Overview
One of the common ingredients in cosmetics and health care products is propylene glycolic acid or PLGA. It is often used as a stabilizer, emulsifier, pH adjuster, humectant, and antioxidant in numerous cosmetic and health products. It is mostly available as a bottled liquid and in some pharmaceuticals for topical application. The commercial grades of propylene glycolic acid are usually in tablet, capsule, spray, and liquid emulsion form. As for the bio-based propylene glycol acrylate, it was introduced about ten years ago and is mostly used in cosmetic products such as skin care lotions, hair care, and health and wellness products.
Request a Sample Copy of this Report @
Competitive Landscape
Major companies contributing to the global bio-based propylene glycol market include Oleon, Huntsman International LLC., Archer Daniels Midland Company, DuPont Tate & Lyle Bio Products Company, BASF SE, Ashland, and The Dow Chemical Company.
Drivers
Growing demand for bio-based chemicals in household detergents and cleaning applications owing to their miscible properties is expected to propel growth of the bio-based propylene glycol market during the forecast period.
Moreover, rising demand for these compounds in the chemical industry for petroleum extraction on account of their minimal GHG (greenhouse gas) emission property is expected to boost growth of the bio-based propylene glycol market throughout the forecast period.
Summary of the COVID-19 Debacle
The global bio-based propylene glycol market has witnessed a decent fall in its growth graph due to the prevalence of the COVID-19 crisis. While demand from the residential and commercial building sectors maintained a moderate pace, the chemical industry struggled to retain its credibility to the pre-pandemic levels. On the contrary, the reopening of industrial plants to their fullest capacity is creating a complete reverse scenario for the market.
Key Takeaways
The bio-based propylene glycol market is anticipated to grow at a CAGR of XX % during the forecast period owing to the rising demand for eco-friendly chemicals from the chemical industry. For instance, in June 2021, UPM-Kymmene appointed Siemens Energy to distribute EAD (electrification, automation, and digitalization) solutions for its US$ 635.84 million bio-refinery project in Leuna, Germany, which is developed to convert hardwood into bio-based propylene glycol.
By expanding the horizon, the North American region is a big destination for the global bio-based propylene glycol market on account of growing adoption in SSPs (space shuttle programs) and the healthcare sector.
Coupled with this, the Asia Pacific region is another profit hub for the global bio-based propylene glycol market at the helm of high investments in the residential and commercial building sector along with the wider acceptance in the automotive industry.
Market Condition:
During the forecast period, Asia Pacific is expected to be the fastest growing region in the bio-based propylene glycol market. This is primarily due to the region's expanding construction industry, particularly in China, India, Malaysia, and other countries. Building panels, bathroom components, corrosion-resistant tanks, and other items are made from bio-based propylene glycol. The India Brand Equity Foundation (IBEF) estimates that the number of Indians living in urban areas will rise from 434 million in 2015 to 600 million by 2031. According to IBEF, India's real estate market is expected to grow from US$ 126 billion in 2015 to US$ 853 billion by 2028.
!! 𝐆𝐄𝐓 𝐔𝐏𝐓𝐎 𝟑𝟎% 𝐃𝐈𝐒𝐂𝐎𝐔𝐍𝐓 !!
𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 @
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬 𝐨𝐟 𝐮𝐬𝐢𝐧𝐠 𝐨𝐮𝐫 𝐫𝐞𝐩𝐨𝐫𝐭?
» Technology Innovations
» Detailed Report
» Historical and Contemporary Scenarios
» Market Growth Opportunities
» Wide Range of Products
» High Concentration of Industry
» The Growth Dynamics
» Reliable Research Methodology for Value Chain Analysis
Finally, there is an industry growth strategy, a data source, research findings, an appendix, and a conclusion in the report. The report examines the manufacturing process, market competitors, seller and merchant classification, innovation implementation, and business growth strategies in order to deconstruct the market. All of these details will assuage customers' concerns about future plans and actions to compete with other market participants. The most recent market gains are also shown.
Key Reasons to Purchase the Bio-Based Propylene Glycol Market Report :
➸The report is jam-packed with information, including market trends and forecasts.
➸ Quantitative, qualitative, value (USD Million), and volume (Units Million) data are among the segments and sub-segments included in the report.
➸ Data on demand and supply forces, as well as their effects on the market, can be found at the regional, sub-regional, and country levels.
➸ As a result of new developments, strategies, and market share gains by key players, the competitive landscape has changed dramatically in the last three years.
➸ Companies that provide a wide range of products as well as financial data, news, SWOT analyses, and strategies.
𝐓𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭'𝐬 𝐬𝐭𝐮𝐝𝐲 𝐨𝐛𝐣𝐞𝐜𝐭𝐢𝐯𝐞𝐬 𝐚𝐫𝐞 𝐚𝐬 𝐟𝐨𝐥𝐥𝐨𝐰𝐬:
✤ SWOT Analysis is used to define, assess, and analyse market competition by focusing on the world's major manufacturers. The market is defined, described, and forecasted by type, application, and region.
✤ Examine the potential and advantages of the global and major regional markets, as well as the opportunities and challenges, as well as the constraints and risks.
✤ Determine whether market growth is being driven or hampered by trends and factors.
✤ Stakeholders will be able to assess market potential by identifying high-growth categories.
✤ Conduct a strategic analysis of each submarket's growth trends and contribution to the market.
✤ Competitive developments in the market include expansions, agreements, new product launches, and acquisitions.
✤ To develop a strategic profile of the major players and conduct a thorough analysis of their growth strategies.
𝐊𝐞𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐀𝐝𝐝𝐫𝐞𝐬𝐬𝐞𝐝:
✔ In the next seven years, what innovative technology trends should we expect?
✔ Which sub-segment do you believe will grow the fastest over the next few years?
✔ By 2028, which region is predicted to have the largest market share?
✔ What organic and inorganic strategies are businesses employing to gain market share?
𝐁𝐮𝐲 𝐍𝐨𝐰 𝐚𝐧𝐝 𝐠𝐞𝐭 𝐞𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 @
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Coherent Market Insights is a global market intelligence and consulting firm that offers syndicated and customised research reports as well as consulting services. We're known for our actionable insights and reliable reports in a wide range of industries, including aerospace and defence, agriculture, food and beverage, automotive, chemicals and materials, and virtually every other domain and sub-domain imaginable. Our clients benefit from our highly reliable and accurate reports. We're also committed to continuing to provide measurable, long-term results for our clients after COVID-19 by playing a leading role in providing insights in various sectors.
Mr. Shah
Coherent Market Insights Pvt. Ltd.
+ +1 206-701-6702
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other
MENAFN05012022003118003196ID1103492769