Bio-based Propylene Glycol Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR43992
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The bio-based propylene glycol market has the potential to grow by USD 110.31 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 5.06%.

This bio-based propylene glycol market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (unsaturated polyester resins, functional fluids and antifreeze products, pharmaceuticals, cosmetics, and food, detergents and household products, and other applications) and geography (North America, APAC, Europe, MEA, and South America). The bio-based propylene glycol market report also offers information on several market vendors, including Archer Daniels Midland Co., Ashland Global Holdings Inc., Ayas Renewables Inc., BASF SE, Dow Inc., Global Bio-chem Technology Group Co. Ltd., Hawkins Inc., Huntsman Corp., LAIR LIQUIDE SA, and Oleon NV among others.

What will the Bio-based Propylene Glycol Market Size be in 2021?

Bio-based-Propylene-Glycol-Market-Market-Size-2020-2025

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Bio-based Propylene Glycol Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growth in biodiesel production is notably driving the bio-based propylene glycol market growth, although factors such as seasonality in availability and prices of bio-based propylene glycol may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the bio-based propylene glycol market industry get your FREE report sample now.

  • Growth in biodiesel production is a key driver boosting the growth of the bio-based propylene glycol market.
  • Biodiesel production is expected to grow significantly during the forecast period, primarily owing to the growing need for reducing fuel emissions and global carbon footprint globally.
  • The US, Brazil, China, Indonesia, and Argentina are the largest producers of biodiesel.
  • Glycerol, which is also known as glycerin, is one of the major by-products of the biodiesel manufacturing process. For every 100 pounds of biodiesel produced, approximately 10 pounds of crude glycerol is generated.
  • Glycerin is one of the major raw materials used to produce bio-based propylene glycol. Therefore, growth in biodiesel production is expected to increase the glycerin feedstock, which, in turn, will increase the production of bio-based propylene glycol. This will drive the growth of the market during the forecast period.
  • Increasing environmental awareness leading to use of bio-based products is another important factor driving the growth of the bio-based propylene glycol market.
  • Governments, businesses, and individual consumers are all becoming aware of the harmful petroleum-derived products on the environment. They are highly toxic and do not disintegrate in the environment, contaminating the air, soil, and water bodies and eventually causing harm to human health. 
  • Government bodies and other regulatory authorities, such as ASTM and US Pharmacopeia, are formulating rules to reduce the use of petroleum-based feedstocks.
  • Government bodies are promoting the use of bio-based feedstocks, which are biodegradable, non-toxic, non-corrosive, non-carcinogenic, and recyclable, as well as help in reducing ozone depletion. 
  • Also, many large organizations are tying up with R&D companies to conduct research on bio-based feedstocks.

This bio-based propylene glycol market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Bio-based Propylene Glycol Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • Archer Daniels Midland Co.
  • Ashland Global Holdings Inc.
  • Ayas Renewables Inc.
  • BASF SE
  • Dow Inc.
  • Global Bio-chem Technology Group Co. Ltd.
  • Hawkins Inc.
  • Huntsman Corp.
  • LAIR LIQUIDE SA
  • Oleon NV

The bio-based propylene glycol market is concentrated and the vendors are deploying growth strategies such as entering into partnerships or joint ventures to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the bio-based propylene glycol market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Bio-based Propylene Glycol Market?

Bio-based-Propylene-Glycol-Market-Market-Share-by-Region-2020-2025

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35% of the market’s growth will originate from APAC during the forecast period. China is the key market for bio-based propylene glycol market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growth of the regional pharmaceutical industry, primarily in China and India will facilitate the bio-based propylene glycol market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Application Segments in the Bio-based Propylene Glycol Market?

Bio-based-Propylene-Glycol-Market-Market-Share-by-Application-2020-2025

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Unsaturated polyester resins have a wide range of applications in industries such as construction, transportation, and marine. It is mainly used in the production of composite materials such as fiber-reinforced plastics. The global unsaturated polyester resins market is growing and is expected to reach USD 193.83 million by 2025. The unsaturated polyester resins segment will drive the growth of the bio-based propylene glycol market growth.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the bio-based propylene glycol market size.

 

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What are the Key Factors Covered in this Bio-based Propylene Glycol Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive bio-based propylene glycol market growth during the next five years
  • Precise estimation of the bio-based propylene glycol market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the bio-based propylene glycol industry across North America, APAC, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of bio-based propylene glycol market vendors

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Bio-based Propylene Glycol Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5%

Market growth 2021-2025

$ 110.31 million

Market structure

Concentrated

YoY growth (%)

4.53

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

APAC at 35%

Key consumer countries

US, China, Germany, UK, and Saudi Arabia

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Archer Daniels Midland Co., Ashland Global Holdings Inc., Ayas Renewables Inc., BASF SE, Dow Inc., Oleon NV, Global Bio-chem Technology Group Co. Ltd., Hawkins Inc., Huntsman Corp., and LAIR LIQUIDE SA

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The bio-based propylene glycol market growth will increase by $116.27 million during 2019-2024.
The bio-based propylene glycol market is expected to grow at a CAGR of 5.32% during 2019-2024.
Technavio has segmented the bio-based propylene glycol market by application (Unsaturated polyester resins, Functional fluids and antifreeze products, Pharmaceuticals, cosmetics, and food, Detergents and household products, and Other applications) and geographic (North America, APAC, Europe, MEA, and South America).
Archer Daniels Midland Co., Ayas Renewables Inc., Global Bio-chem Technology Group Co. Ltd., Huntsman Corp., L Air Liquide SA, Oleon NV are a few of the key vendors in the bio-based propylene glycol market.
APAC will register the highest growth rate of 34.92% among the other regions. Therefore, the bio-based propylene glycol market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the bio-based propylene glycol market growth are:
  • Growth in biodiesel production
The bio-based propylene glycol market vendors should focus on grabbing business opportunities from the unsaturated polyester resins segment as it accounted for the largest market share in the base year.
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