North America Propylene Glycol (PG) Market was valued at USD 0.7 Billion in 2022 and is projected to reach USD 1.1 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
North America is seeing a steady rise in the demand for Propylene Glycol (PG) across various industries. As a versatile compound, PG is used in multiple applications, from food and beverage to pharmaceuticals and industrial processes. The growth of these sectors is driving the increasing need for PG, with manufacturers seeking ways to incorporate this compound into their products due to its ability to enhance quality, stability, and usability.
In the food and beverage industry, PG serves as a humectant, solvent, and preservative, helping to retain moisture in processed foods and beverages. It is widely utilized in the formulation of baked goods, dairy products, beverages, and salad dressings. As consumer demand for longer shelf life and fresher products increases, the use of PG has grown in this sector.
The pharmaceutical industry also heavily relies on PG for its role as a stabilizing agent in oral, injectable, and topical medicines. It is an essential ingredient in the creation of lotions, creams, and ointments, enhancing the stability and spreadability of these products. In addition, PG is used as a carrier in the formulation of drug delivery systems and as a solvent in intravenous solutions.
In addition to food and pharmaceuticals, the automotive and cosmetic industries are significant consumers of PG. For example, PG is utilized in the manufacture of antifreeze, coolants, and de-icing products in automotive applications. In cosmetics and personal care, PG serves as a skin-conditioning agent, often found in lotions, shampoos, and deodorants.
The demand for PG is also growing in industrial sectors like paints, coatings, and plastics. As a solvent, it helps improve the flow and application of paints while ensuring better durability and finish. PG also aids in the production of plastics and other materials, contributing to their flexibility and resilience in various applications.
The North American Propylene Glycol (PG) market continues to expand as industries adopt this multi-functional compound in their products, ensuring its key role in enhancing product quality and performance.
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Dow
Huntsman
DuPont (Tate Lyle )
ADM
Polioles
Lyondell Basell Industries
Repsol
BASF
Oelon
Sumitomo Chemical
Asahi
ADEKA
SKC
Shell
Shandong Shida Shenghua Chemical
Tongling Jintai Chemical
CNOOC and Shell Petrochemicals
Hi-tech Spring Chemical
Daze Group
Shandong Depu Chemical
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America Propylene Glycol (PG) Market
UPR
PPG
Pharmaceuticals and Food
Others
Based on Types the Market is categorized into Below types that held the largest Propylene Glycol (PG) market share In 2023.
Industrial Grade
Food Grade
Pharmaceutical Grade
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, 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 North America Propylene Glycol (PG) 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. North America Propylene Glycol (PG) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America Propylene Glycol (PG) Market, By Type
6. North America Propylene Glycol (PG) Market, By Application
7. North America Propylene Glycol (PG) Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America Propylene Glycol (PG) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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