Propylene glycol or 1, 2-propane-diol is one of the universal product that is used in modern life and is practically everywhere. It is derived industrially by processing petroleum products and has a very high demand due to which the global consumption of petroleum has increased by thousand metric tons per year. Propylene Glycol (PG) is used in a broad range of products; it can be found in fiberglass resins, antifreezes, foods, pharmaceuticals and cosmetics. Propylene glycol has been prepared by petroleum stocks but now days it is derived from corn starch and a special carbohydrate which is processed to make glycols. This processed and green derived propylene glycol is having a very high quality. The synthetic ingredient is derived from a renewable source which meets the requirement of the consumers and it also offers additional advantage of a pleasant and fruity odor. The chemical industry is highly dependent on fossil fuel for making variety of petrochemical products. As there are many benefits of renewable chemistry so the entire industry is shifting towards it, companies are demanding bio-based chemicals to achieve sustainability by commercializing bio-based chemicals. One of the elements which are in high demand and attracting attention to be generated from renewable source is propylene glycol.
The bio-based propylene glycol is in high demand due to its effective quality. These products have same area of applications as that of propylene glycol. Moreover it is a renewably derived product and helps in reducing the green house gas emissions. These products meet the standards of bio-preferred purchasing programs and also the specifications given by the government which makes it an efficient product to be used by industries. The bio-based propylene glycol is used for all cosmetics applications and offers fruity odor and equivalent feature as that of the traditional chemical. The pleasant smell of bio PG is a big advantage for the industry producing perfumes and colognes and driving the demand abundantly. Reduced green house gas emission by its production, better and benchmarked environmental performance and reduced dependency on petrochemical feedstock are some of the main drivers of this market. The derivation of bio-based propylene glycol has a limitation of low catalyst stability and high reaction pressure during the production process which can be controlled by proper observation. There is growing demand for renewable products which gives a wide opportunity to renewable chemistry and bio-based chemicals. The increase in demand by the industries for the bio-based products has improved energy security and reduced the dependence on imports for energy. The growing technology and advancement in biotechnology to develop industrial bio-based products have given several opportunities to this market. Moreover the growing demand for product derived from renewable raw materials has brought several opportunities for this market.
The bio based propylene glycol is used as an antifreeze, secondary refridgerant and coolant in many industries. It is used in several applications such as waste heat recovery, chillers, HVAC and solar systems. Bio based propylene glycol is used as anti- freeze because it has low freeze point and high boiling point, in hydraulic brake fluids, deicing fluids, paints &coatings, pharmaceuticals, cosmetics, personal care products and food. Bio based chemicals has continues steady growth in past few years with majors markets including countries such as the U.S. and Europe.
The agribusiness has been widely producing bio-based propylene glycol using refined glycerin as the feedstock which has several applications in industries. Some of the key market players in this market include Ashland, Cargill, ADM, Dow Chemicals and BASF amongst others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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