Bio-Based Propylene Glycol Market To Reach USD 6.75 Billion By 2032 Owing To Growing Demand For Sustainable Alternatives | Research By SNS Insider

Austin, Jan. 28, 2025 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “ The Bio-Based Propylene Glycol market was valued at USD 4.58 billion in 2023 and is expected to reach USD 6.75 billion by 2032, growing at a CAGR of 4.43% over the forecast period 2024-2032. ”

Driving Sustainability: The Rapid Growth of the Bio-Based Propylene Glycol Market

The bio-based propylene glycol market is witnessing robust growth driven by the increasing demand for sustainable and eco-friendly alternatives to petroleum-based chemicals. Propylene glycol derived from renewable resources such as glycerin and glucose has gained traction due to its lower carbon footprint and reduced dependency on fossil fuels. The market benefits from the rising awareness among industries and consumers about environmental preservation and the adoption of green technologies.

Key growth trends include the expanding application of bio-based propylene glycol in sectors such as cosmetics, pharmaceuticals, food and beverages, and automotive. Its usage as a solvent, antifreeze, and humectant is particularly prominent due to its non-toxic and biodegradable nature. The growing emphasis on regulatory compliance and corporate sustainability initiatives is also encouraging manufacturers to shift toward bio-based solutions. Moreover, advancements in bio-refining technologies have enhanced the production efficiency and cost-competitiveness of bio-based propylene glycol, further fueling its adoption. Increased R&D efforts have led to improved feedstock utilization and innovative catalytic processes.

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Key Companies:

• Archer Daniels Midland Company (Propylene Glycol Industrial Grade, Propylene Glycol USP Grade)
• BASF SE (Propylene Glycol Industrial Grade, Propylene Glycol USP Grade)
• The Dow Chemical Company (Propylene Glycol Industrial Grade, Propylene Glycol USP Grade)
• DuPont Tate & Lyle Bio Products Company, LLC (BioPureTM Propylene Glycol, BioPureTM Propylene Glycol USP Grade)
• Huntsman International LLC (Propylene Glycol Industrial Grade, Propylene Glycol USP Grade)
• Cargill (Propylene Glycol Industrial Grade, Propylene Glycol USP Grade)
• Oleon (Propylene Glycol Industrial Grade, Propylene Glycol USP Grade)
• Ashland (Propylene Glycol Industrial Grade, Propylene Glycol USP Grade)
• SK Chemicals (Bio-based Propylene Glycol, Bio-based Propylene Glycol USP Grade)
• Metafrax (Green Propylene Glycol, Green Propylene Glycol USP Grade)
• UPM Biochemicals (Bio-based Propylene Glycol, Bio-based Propylene Glycol USP Grade)
• ADM (Plant-Based Propylene Glycol, Plant-Based Propylene Glycol USP Grade)
• Evolution Renewables (Bio-Based Propylene Glycol, Bio-Based Propylene Glycol USP Grade)
• Corbion (Bio-based Propylene Glycol, Bio-based Propylene Glycol USP Grade)
• LyondellBasell (Bio-based Propylene Glycol, Bio-based Propylene Glycol USP Grade)
• LG Chem (Bio-based Propylene Glycol, Bio-based Propylene Glycol USP Grade)
• Reliance Industries Limited (Bio-based Propylene Glycol, Bio-based Propylene Glycol USP Grade)
• SABIC (Bio-based Propylene Glycol, Bio-based Propylene Glycol USP Grade)
• ExxonMobil (Bio-based Propylene Glycol, Bio-based Propylene Glycol USP Grade)
• Shell Chemicals (Bio-based Propylene Glycol, Bio-based Propylene Glycol USP Grade)

Bio-Based Propylene Glycol Market Report Scope:

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Sustainability initiatives and strict regulations are driving industries to adopt eco-friendly, bio-based solutions like biodegradable and non-toxic propylene glycol, reducing reliance on petrochemicals.

Sustainability initiatives are driving industries to embrace eco-friendly solutions, with a growing focus on environmental preservation. Governments and regulatory bodies globally are enforcing strict regulations to reduce reliance on petrochemicals, encouraging the adoption of bio-based alternatives. Bio-based propylene glycol has emerged as a preferred option due to its biodegradable and non-toxic characteristics, aligning with these sustainability goals. Industries are increasingly prioritizing bio-based products to meet environmental standards, minimize carbon footprints, and cater to the demand for greener solutions.

Eco-Friendly Innovations Drive Market Leadership in Antifreeze and Pharmaceutical Segments

By Application: Antifreeze & Coolant segment dominated with the market share over 37.6% in 2023. This growth is driven by the automotive industry's increasing emphasis on eco-friendly products. Traditional petrochemical-based antifreeze is being replaced by bio-based alternatives that are non-toxic, biodegradable, and sustainable. These alternatives align with regulatory and consumer demands for reducing environmental impact. Furthermore, advancements in bio-based antifreeze formulations enhance engine performance and durability, adding to their appeal.

By End Use: The pharmaceutical segment dominated with the market share over 29.6% in2023. This surge is primarily due to the increasing demand for sustainable and safe ingredients in drug formulations. BPG (butylene glycol) is widely used in this industry as a solvent, humectant, and emulsifier due to its stability, non-toxic nature, and compatibility with various pharmaceutical products. As the industry prioritizes clean-label and environmentally friendly solutions, BPG offers a viable alternative to conventional chemical ingredients.

North America Leads with 34.1% Market Share in 2023, Asia Pacific Emerges as Fastest-Growing Region in Bio-Based Propylene Glycol Market

North America region dominated with the market share over 34.1% in 2023, showcasing its leadership in sustainability-focused industries. The demand for eco-friendly solutions in automotive, pharmaceutical, and personal care sectors has been a driving force. Prominent companies such as Dow Chemical and Cargill have been instrumental in advancing renewable BPG technologies, addressing the rising consumer preference for green alternatives. North America's strong regulatory support for sustainable practices and increasing awareness of environmental issues have further bolstered the market's growth.

Asia Pacific is anticipated to register the highest compound annual growth rate (CAGR) in the Bio-Based Propylene Glycol Market from 2024 to 2032. This growth is fueled by rapid industrialization, urbanization, and a growing emphasis on sustainability across the region. Leading nations such as China and India are at the forefront, driven by government initiatives and corporate strategies promoting greener technologies. Companies like SABIC and LG Chem are actively diversifying their bio-based product offerings to cater to the increasing demand for environmentally friendly alternatives, particularly in automotive and pharmaceutical applications.

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Recent Developments

In May 2023: BASF's technology enabled ORLEN Południe to successfully complete the first year of its BioPG plant. The facility, which converts glycerol into renewable propylene glycol, reduces energy consumption and CO2 emissions by at least 60%. With an annual capacity of 30,000 metric tons, this initiative supports ORLEN's goal of achieving CO2 neutrality by 2050.

In April 2023: LG Chem partnered with U.S.-based Gevo to develop 100% bio-based plastic using renewable carbohydrates such as corn and sugarcane. This collaboration aims to produce bio-propylene through Gevo's Ethanol to Olefins (ETO) technology, advancing sustainable and eco-friendly plastic production.

Table of Contents – Major Key Points

1. Introduction

1.1 Market Definition

1.2 Scope (Inclusion and Exclusions)

1.3 Research Assumptions

2. Executive Summary

2.1 Market Overview

2.2 Regional Synopsis

2.3 Competitive Summary

3. Research Methodology

3.1 Top-Down Approach

3.2 Bottom-up Approach

3.3. Data Validation

3.4 Primary Interviews

4. Market Dynamics Impact Analysis

4.1 Market Driving Factors Analysis

4.2 PESTLE Analysis

4.3 Porter's Five Forces Model

5. Statistical Insights and Trends Reporting

5.1 Bio-Based Propylene Glycol Production Capacity (2023)

5.2 Bio-Based Propylene Glycol Pricing Trends (2023)

5.3 Bio-Based Propylene Glycol Raw Material Supply and Prices

5.4 Bio-Based Propylene Glycol Regulatory Impact

6. Competitive Landscape

6.1 List of Major Companies, By Region

6.2 Market Share Analysis, By Region

6.3 Product Benchmarking

6.3.1 Product specifications and features

6.3.2 Pricing

6.4 Strategic Initiatives

6.4.1 Marketing and promotional activities

6.4.2 Distribution and Supply Chain Strategies

6.4.3 Expansion plans and new product launches

6.4.4 Strategic partnerships and collaborations

6.5 Technological Advancements

6.6 Market Positioning and Branding

7. Bio-Based Propylene Glycol Market Segmentation, By Application

7.1 Chapter Overview

7.2 Solvent

7.3 Chemical Intermediates

7.4 Unsaturated Polyester Adhesives

7.5 Antifreeze & Coolant

7.6 Others

8. Bio-Based Propylene Glycol Market Segmentation, By End Use

8.1 Chapter Overview

8.2 Food Processing

8.3 Building & Construction

8.4 Cosmetics

8.5 Automotive

8.6 Pharmaceuticals

8.7 Transportation

8.8 Detergent & Household

8.9 Marine

8.10 Others

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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