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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 share is expected to increase by USD 110.31 million from 2020 to 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 bio-based propylene glycol 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 During the Forecast Period?

Bio-based Propylene Glycol Market Size

Download the Free Report Sample to Unlock the Bio-based Propylene Glycol Market Size for the Forecast Period and Other Important Statistics

 

Bio-based Propylene Glycol Market: Key Drivers, Trends, and Challenges

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. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bio-based propylene glycol industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Bio-based Propylene Glycol Market Driver

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.

Key Bio-based Propylene Glycol Market Trend

Increasing environmental awareness leading to use of bio-based products is another important factor driving the growth of the bio-based propylene glycol market. Bio-based propylene glycol is used in the production of unsaturated polyester resins, which are used to make electrical components, paints and coatings, pipes, tanks, and ducts, all important products in the construction industry. The industry and the consumers are becoming more responsible toward the environment, as a result of which the demand for green buildings has grown. The concept of green buildings arose from the need to reduce energy and water intake and to eliminate the production of toxic waste. Green buildings can recycle the water used and reduce the consumption of energy. These buildings use materials that are bio-based and do not leave any residues in water that cannot be recycled or that may contaminate the water. Thus, the use of bio-based products in these buildings will allow users to save on energy and water bills, in turn generating further interest in green buildings.

Key Bio-based Propylene Glycol Market Challenge

Seasonality in availability and prices of bio-based propylene glycol is a major hindrance to the bio-based propylene glycol market growth. The major feedstocks for bio-based propylene glycol are glycerin, corn, and soy. Corn and soy are agricultural products, and their supply is very irregular during the year. There are peak and dull seasons of production, which affect the procurement and production costs and, eventually, the prices of bio-based propylene glycol. During the peak season, product costs are low. In turn, the prices of bio-based propylene glycol also fall, and its supply increases. However, during the dull season, the prices of bio-based propylene glycol are usually high, and supply reduces. This seasonality in its prices and availability has been a hindrance to the growth of the market in focus.

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. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global bio-based propylene glycol market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bio-based propylene glycol market during the forecast period.

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

This statistical study of the bio-based propylene glycol market encompasses successful business strategies deployed by the key vendors. The bio-based propylene glycol market is concentrated and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

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.

The bio-based propylene glycol market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Bio-based Propylene Glycol Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the bio-based propylene glycol market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global commodity chemicals market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

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

Bio-based Propylene Glycol Market Market segmentation by region

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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. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

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

Bio-based Propylene Glycol Market Segmentation

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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.

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

 

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 5.06%

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

Key companies profiled

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

Market dynamics

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

Customization purview

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What are the Key Data 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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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Commodity Chemicals

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Unsaturated polyester resins - Market size and forecast 2020-2025
      • Exhibit 17: Unsaturated polyester resins - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Unsaturated polyester resins - Year-over-year growth 2020-2025 (%)
    • 5.4 Functional fluids and antifreeze products - Market size and forecast 2020-2025
      • Exhibit 19: Functional fluids and antifreeze products - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Functional fluids and antifreeze products - Year-over-year growth 2020-2025 (%)
    • 5.5 Pharmaceuticals, cosmetics, and food - Market size and forecast 2020-2025
      • Exhibit 21: Pharmaceuticals, cosmetics, and food - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Pharmaceuticals, cosmetics, and food - Year-over-year growth 2020-2025 (%)
    • 5.6 Detergents and household products - Market size and forecast 2020-2025
      • Exhibit 23: Detergents and household products - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Detergents and household products - Year-over-year growth 2020-2025 (%)
    • 5.7 Other applications - Market size and forecast 2020-2025
      • Exhibit 25: Other applications - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: Other applications - Year-over-year growth 2020-2025 (%)
    • 5.8 Market opportunity by Application
      • Exhibit 27: Market opportunity by Application

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 29: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 30: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 31: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 APAC - Market size and forecast 2020-2025
      • Exhibit 33: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: APAC - Year-over-year growth 2020-2025 (%)
    • 7.5 Europe - Market size and forecast 2020-2025
      • Exhibit 35: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: Europe - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 37: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 38: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 39: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 40: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 41: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 42: Market opportunity by geography

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 43: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor landscape
          • Exhibit 44: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 45: Landscape disruption
          • Exhibit 46: Industry risks

        10 Vendor Analysis

        • 10.1 Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 48: Market positioning of vendors
          • 10.3 Archer Daniels Midland Co.
            • Exhibit 49: Archer Daniels Midland Co. - Overview
            • Exhibit 50: Archer Daniels Midland Co. - Business segments
            • Exhibit 51: Archer Daniels Midland Co.-Key news
            • Exhibit 52: Archer Daniels Midland Co. - Key offerings
            • Exhibit 53: Archer Daniels Midland Co. - Segment focus
          • 10.4 Ashland Global Holdings Inc.
            • Exhibit 54: Ashland Global Holdings Inc. - Overview
            • Exhibit 55: Ashland Global Holdings Inc. - Business segments
            • Exhibit 56: Ashland Global Holdings Inc.-Key news
            • Exhibit 57: Ashland Global Holdings Inc. - Key offerings
            • Exhibit 58: Ashland Global Holdings Inc. - Segment focus
          • 10.5 Ayas Renewables Inc.
            • Exhibit 59: Ayas Renewables Inc. - Overview
            • Exhibit 60: Ayas Renewables Inc. - Product and service
            • Exhibit 61: Ayas Renewables Inc. - Key offerings
          • 10.6 BASF SE
            • Exhibit 62: BASF SE - Overview
            • Exhibit 63: BASF SE - Business segments
            • Exhibit 64: BASF SE-Key news
            • Exhibit 65: BASF SE - Key offerings
            • Exhibit 66: BASF SE - Segment focus
          • 10.7 Dow Inc.
            • Exhibit 67: Dow Inc. - Overview
            • Exhibit 68: Dow Inc. - Business segments
            • Exhibit 69: Dow Inc.-Key news
            • Exhibit 70: Dow Inc. - Key offerings
            • Exhibit 71: Dow Inc. - Segment focus
          • 10.8 Global Bio-chem Technology Group Co. Ltd.
            • Exhibit 72: Global Bio-chem Technology Group Co. Ltd. - Overview
            • Exhibit 73: Global Bio-chem Technology Group Co. Ltd. - Business segments
            • Exhibit 74: Global Bio-chem Technology Group Co. Ltd. - Key offerings
            • Exhibit 75: Global Bio-chem Technology Group Co. Ltd. - Segment focus
          • 10.9 Hawkins Inc.
            • Exhibit 76: Hawkins Inc. - Overview
            • Exhibit 77: Hawkins Inc. - Business segments
            • Exhibit 78: Hawkins Inc. - Key offerings
            • Exhibit 79: Hawkins Inc. - Segment focus
          • 10.10 Huntsman Corp.
            • Exhibit 80: Huntsman Corp. - Overview
            • Exhibit 81: Huntsman Corp. - Business segments
            • Exhibit 82: Hawkins Inc. -Key news
            • Exhibit 83: Huntsman Corp. - Key offerings
            • Exhibit 84: Huntsman Corp. - Segment focus
          • 10.11 LAIR LIQUIDE SA
            • Exhibit 85: LAIR LIQUIDE SA - Overview
            • Exhibit 86: LAIR LIQUIDE SA - Business segments
            • Exhibit 87: LAIR LIQUIDE SA -Key news
            • Exhibit 88: LAIR LIQUIDE SA - Key offerings
            • Exhibit 89: LAIR LIQUIDE SA - Segment focus
          • 10.12 Oleon NV
            • Exhibit 90: Oleon NV - Overview
            • Exhibit 91: Oleon NV - Product and service
            • Exhibit 92: Oleon NV-Key news
            • Exhibit 93: Oleon NV - Key offerings

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 94: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 95: Research Methodology
              • Exhibit 96: Validation techniques employed for market sizing
              • Exhibit 97: Information sources
            • 11.4 List of abbreviations
              • Exhibit 98: List of abbreviations

            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
            Technavio

            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
            Technavio

            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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            Bio-based Propylene Glycol Market market growth will increase by $110.31 mn during 2021-2025.
            The bio-based propylene glycol market market is expected to grow at a CAGR of 5.06% during 2021-2025.
            Technavio has segmented the bio-based propylene glycol market market by application (unsaturated polyester resins, functional fluids and antifreeze products, pharmaceuticals, cosmetics, and food, detergents and household products, and other applications) ,geography (North America, APAC, Europe, MEA, and South America) , and geographic (North America, APAC, Europe, MEA, and South America).
            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 are a few of the key vendors in the bio-based propylene glycol market market.
            APAC will register the highest growth rate of 35% among the other regions. Therefore, the bio-based propylene glycol market 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 market growth are:
            • Growth in biodiesel production
            • Increase in demand for green construction
            The bio-based propylene glycol market 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.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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