According to a market report by Lucintel, the future of the global biobased propylene glycol market looks promising with opportunities in the transportation, building & construction, food & beverage, pharmaceutical, and cosmetics & personal care markets. The global biobased propylene glycol market is expected to reach an estimated $5 billion by 2030 with a CAGR of 4.3% from 2024 to 2030. The major drivers for this market are growing consumer demand across a range of businesses for environmentally friendly and sustainable products, rigorous laws that encourage the use of renewable resources and lower carbon footprints, as well as, rising disposable income combined with the population's rapid growth.
A more than 150–page
report is developed to understand Trends, opportunity and forecast in biobased
propylene glycol market to 2030 by application (unsaturated polyester resins,
functional fluids and antifreeze products, pharmaceuticals, cosmetics, and
food, detergents and household products, and others), end use (transportation,
building & construction, food & beverage, pharmaceuticals, cosmetics
& personal care, and others), and region (North America, Europe, Asia
Pacific, and the Rest of the World).
In this market,
unsaturated polyester resin, functional fluids and antifreeze product,
pharmaceuticals, cosmetics, and food, and detergents and household product are
the major segments of biobased propylene glycol market by application.
Lucintel forecasts that
unsaturated polyester resin will remain the largest segment over the forecast
period due to expanding building and construction sector and rising investments
in infrastructure development in developing economies.
Within this market,
transportation will remain the largest segment due to the rise in vehicle sales
along with the usage of propylene glycols in hydraulic and braking fluids and
automotive coolants, among other applications.
APAC will remain the
largest region over the forecast period due to growing population in the area
combined with rising building expenditures in South Korea, China, and India's
expanding markets.
BASF, The Dow Chemical
Company, Global Bio-Chem Technology, Lyondellbasell Industries, Archer Daniels
Midland Company, Huntsman, S.K.C, Temix International, Ineos Oxide, and Dupont
Tate & Lyle Bio Products are the major suppliers in the biobased propylene
glycol market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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