Research Nester assesses the growth of the global propylene glycol market which is anticipated to be on account of the growing automobile industry around the globe as propylene glycol has a significant application in the automobile sector.
New York – June 1, 2023 - Research Nester’s recent market research analysis on “Propylene Glycol Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global propylene glycol market in terms of market segmentation by source, grade, end user, and by region.
Growing Demand in Home Care Products to Drive Growth of the Global Propylene Glycol Market
The global propylene glycol sector is set to observe the highest CAGR throughout the projected period on account of increasing demand for this product in-home care and household care products industry. The market for the product is expanding on account of demand from the liquid detergent, coatings, and paints industries. The season has an impact on the product's demand as well. The market experiences a large increase in demand during the winter months for its usage as an anti-freezing agent. This demand is primarily generated by the airline sector. Commercial or technical grade and USP/EP grade are the two standard grades in which the product is produced. Non-ionic detergents for the petroleum, paper, and sugar sectors are produced using the commercial grade of propylene glycol. It is additionally utilized as an ingredient to enhance freeze-thaw capacity in latex paints and varnishes. Excipients of the USP/EP grade are frequently found in a variety of medications, as well as in cosmetic and food items.
Moreover, the introduction and launch of new products by the market players in the market along with substantial advancements in technology have later raised the demand for markets around the world. Day by day escalating disposable income of people, lifestyle changes, shift towards luxury lifestyle, and rise in pharma and personal care products are further predicted to boost the market expansion.
Some of the major growth factors and challenges that are associated with the growth of the global propylene glycol market are:
Growth Drivers:
• Rise in the Demand from Automotive Industry
• Escalating Application in the Cosmetic Sector
Challenges:
The potential health risks of propylene glycol function as a barrier to expansion. High doses of this substance may cause toxic and harmful health effects, such as toxicity to the central nervous system (CNS), agitation, seizures, and abnormal heart rhythms. The long-term health impacts of propylene glycol exposure are anticipated to hinder the growth of the global propylene glycol market in the approaching years. Moreover, fluctuating prices and environmental concerns associated with it are some of the major factors anticipated to hamper the growth of the global propylene glycol market.
Access our detailed report at: https://www.researchnester.com/reports/propylene-glycol-market/4907
By grade, the global propylene glycol market is segmented into industrial grade, and USP grade. The USP grade segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The expansion of this segment can be accounted for its high usage in the food & beverage, pharmaceutical, and personal care sector. It is used in the pharmaceutical sector as an extractant and solvent for local anesthetics, vaccines, medicines, hormones, and vitamins. In the food industry is used as a solvent for biscuits, beverages, and cakes, it is also utilized as a stabilizer, thickener, clarifier, and carrier for flavor. Besides all these, its application can also be seen in animal feed in order to keep it fresh, chewy, and moist for pets and animals. This grade's purity criterion is roughly 99.9%. It has been given the go-ahead to be used as a food additive under E1520, with a tight upper limit of 1g/kg in foods for humans.
By region, the Middle East and Africa propylene glycol market is to generate the substantial market value by the end of 2035. This growth is anticipated to the escalating industrialization and diverse economic activities in the region. One of the most significant market drivers in this region is escalating demand for personal care and cosmetic products in this region boosted by the rise in population, increasing disposable income of people, and economic growth in the region. Furthermore, the pharmaceutical industry in the region is also predicted to propel market growth in the Middle East and African region. Propylene glycol is used in many ways in the pharmaceutical industries in the production of various medicinal products. However, as the country's healthcare infrastructure develops, so does the pharmaceutical business, which is projected to drive the propylene glycol market in the region.
Consult our expert analysts at: [email protected] or contact us at: https://www.researchnester.com/contact for any customized report.
This report also provides the existing competitive scenario of some of the key players of the global propylene glycol market which includes company profiling of INEOS Oxide, Huntsman International, Haike Chemical Group Co., Ltd, Repsol, Shell Plc, ADEKA Corporation, LyondellBasell Industries N.V., BASF SE, Metadynea LLC, and others.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4907
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives to take wise decisions for their future marketing strategy, expansion, investment, etc. We believe every business can expand to its new horizon, provided the right guidance at the right time is available through strategic minds. Our out of box thinking helps our clients to take wise decisions in order to avoid future uncertainties.
Contact for more Info:
AJ Daniel
Email: [email protected]
U.S. Phone: +1 646 586 9123
U.K. Phone: +44 203 608 5919