Propylene Glycol Industrial (PGI) Market size was valued at USD 4.1 Billion in 2022 and is projected to reach USD 6.4 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
Propylene Glycol Industrial Market: Region-Wise Trends and Insights
The Propylene Glycol Industrial (PGI) market is experiencing notable shifts across various regions, driven by diverse demands and applications. A substantial rise in consumer preference for environmentally friendly products compounded with growing industrial applications is reshaping this market.
North America stands as a major player, accounting for nearly 35% of the global PGI market. The United States has robust demand from the food and beverage sector, which uses PGI as a food additive and preservative. The cosmetic industry in this region is also leveraging PGI for its moisturizing properties.
Europe follows closely, driven by regulatory advancements focusing on sustainable practices. With about 30% market share, the European market is heavily influenced by stringent guidelines aimed at reducing harmful chemicals. This trend boosts the need for bio-based propylene glycol, further accelerating research and development in the region.
The Asia-Pacific region is witnessing the fastest growth, projected to expand at a CAGR of over 7% through 2028. The burgeoning manufacturing sectors in countries like China and India are key contributors to this rise, as they increasingly utilize PGI in pharmaceuticals, personal care products, and chemical production.
Latin America: Characterized by burgeoning agricultural sectors, the demand for PGI as a plant growth enhancer is gaining traction.
Middle East & Africa: This region is focusing on diversifying its industrial base, with PGI becoming a crucial component in various manufacturing processes.
Market dynamics are influenced by several factors:
The increasing need for food and beverage safety.
Shifting consumer preferences towards environmentally friendly products.
The rise in application sectors—pharmaceuticals, food & beverages, and cosmetics.
As these regional trends unfold, industry stakeholders must adapt their strategies to align with the changing landscape of the Propylene Glycol Industrial market.
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Dow
Repsol
Silver Fern Chemical
ADM
ChemCentral
Aik Moh Singapore
Dynalene
AvantChem
LyondellBasell
Daze Group
Huntsman
Shandong Depu Chemical Industry Science&Technology
INEOS
BASF
CNOOC and Shell Petrochemicals Company Limited
Dongying Hi-tech Spring Chemical Industry
SK
Royal Dutch Shell
Shandong Shida Shenghua Chemical Group
Segmentation analysis involves dividing the market into distinct groups based on certain criteria, such as type and application. This helps in understanding the market dynamics, targeting specific customer groups, and devising tailored marketing strategies.
Acrolein Hydration
Hydrogenation
Ethylene Oxide Hydroxyl Method
Others
Industrial Antifreeze
Coating
Cosmetic
Others
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Propylene Glycol Industrial (PGI) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Propylene Glycol Industrial (PGI) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Propylene Glycol Industrial (PGI) Market , By Product
6. Propylene Glycol Industrial (PGI) Market , By Application
7. Propylene Glycol Industrial (PGI) Market , By Geography
North America
Europe
Asia Pacific
Rest of the World
8. Propylene Glycol Industrial (PGI) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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Propylene Glycol Industrial (PGI) is a chemical compound used in various industries including pharmaceuticals, food processing, and cosmetics.
The primary applications of PGI include antifreeze, solvents, and humectants in personal care products.
The global PGI market was valued at $3.3 billion in 2020 and is projected to reach $4.6 billion by 2025.
The increasing demand for PGI in the pharmaceutical and food industries, as well as its use as a coolant in air conditioning systems, are key factors driving market growth.
Regulatory restrictions on the use of PGI in certain products and volatility in raw material prices are major challenges faced by the industry.
The Asia-Pacific region is the largest market for PGI, followed by North America and Europe.
The key players in the PGI market include Dow Chemical Company, LyondellBasell Industries, BASF SE, and Shell Chemicals.
Recent developments in the PGI industry include new product launches, strategic partnerships, and investments in R&D to develop bio-based PGI.
The PGI market is expected to grow at a CAGR of 6.8% from 2020 to 2025, driven by increasing demand from end-use industries.
Environmental concerns associated with PGI production include greenhouse gas emissions and the use of fossil fuels in the manufacturing process.
Emerging trends in the PGI market include the shift towards bio-based PGI, increased use in 3D printing, and growing demand for PGI in the medical industry.
The PGI market witnessed a temporary slowdown during the COVID-19 pandemic due to supply chain disruptions and reduced demand from end-use industries. However, the market is expected to recover post-pandemic.
The different grades of PGI include industrial grade, USP grade (pharmaceutical grade), and food grade.
Key trade regulations affecting the PGI market include tariffs on PGI imports, compliance with REACH regulations in the European Union, and FDA regulations in the United States.
PGI pricing and availability vary by region due to factors such as raw material supply, manufacturing capacity, and trade regulations.
Industry best practices for handling and storing PGI include storing in a cool, well-ventilated area away from incompatible materials and following all safety guidelines and regulations.
Potential growth opportunities in the PGI market include expansion into emerging markets, development of new applications, and investment in sustainable production methods.
The key factors influencing PGI pricing include raw material costs, supply and demand dynamics, and regulatory changes impacting production costs.
Key technological advancements in PGI production include the use of advanced catalysts, process intensification, and the development of energy-efficient manufacturing processes.
You can find reliable market research reports on the PGI industry from reputable market research firms and industry publications. Our website also offers in-depth analysis and insights on the PGI market.
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