The bio-based propylene glycol market is prognosticated to expand at a faster rate due to the rise in demand for the product across a variety of industrial applications across the globe during the forecast period of 2021-2031.
Propylene glycol made from plants via a catalytic process has a high boiling and flash point, is stable, and has a low vapor pressure. Propylene glycol made from biomaterials aids in lowering greenhouse gas emissions. It has a fruity scent and is used to create colognes and fragrances. It is categorized as generally recognized as safe (GRAS) for use in food and medicines and has a very low level of toxicity. The bio-based propylene glycol is used in solar energy systems, waste heat recovery, and others.
The research report by TMR on the bio-based propylene glycol market provides an in-depth study of the global bio-based propylene glycol market that takes into account all relevant growth parameters. The exhaustive market survey captures the leading players, and new entrants, in detail and covers all aspects such as competitive insights, drivers, restraints, developments, and regional dynamics which supports the shareholders to make investments and planning strategies.
Bio-based propylene glycol is a semi-viscous chemical fluid used in cosmetics, foods, and industrial applications. It is chemically safe and neutral. In addition to having excellent antifreeze, emulsifying, and adhesive capabilities, bio-based propylene glycol also offers safety due to its extremely low toxicity. By using a catalytic process, plants are used to create bio-based propylene glycol. It is utilized in the production of colognes and fragrances and aids in lowering greenhouse gas emissions.
The global market for bio-based propylene glycol is expanding as a result of eco-friendly manufacturing processes for the chemical. Because of its lower freezing point, it is utilized as a coolant in the automotive industry. The coolant removes waste heat from the engine and aids in preventing corrosion in the cooling system. The main constraints limiting the market growth for anionic surfactants are the low catalyst stability and high reaction risk during manufacture. The market for bio-based propylene glycol is predicted to have a lot of opportunities due to the rising demand for renewable goods and bio-based processes.
The competitive landscape of the bio-based propylene glycol market involves the contribution of the leading players. The focus on research and development activities has led to technological advancements and novel product launches which may ultimately open new growth avenues for the global market. The market players focus on expanding the production facilities of bio-based propylene glycol which may bring immense growth to the global market.
BASF SE, Huntsman International LLC., Archer Daniels Midland Company, Oleon, Ashland, DuPont Tate & Lyle Bio Products Company, The Dow Chemical Company, and others are significant market participants in the global bio-based propylene glycol market.
The market will see an increase in demand from the Asia Pacific region. The market for bio-based propylene glycol in the area will develop as a result of the rise of end-user sectors like building, transportation, and marine. The market is expected to grow due to a number of factors, including the environmentally friendly and sustainable manufacturing process for bio-based propylene glycol, its rising use as a coolant in the automotive industry due to its low freezing point, the rapidly growing building and construction sector in emerging economies like China, India, and Korea. Furthermore, the rising demand for bio-based propylene glycol in a variety of pharmaceutical-grade applications. By integrating numerous cutting-edge technologies in their manufacturing facilities, many large firms are currently commercializing bio-based chemicals in an effort to attain sustainability over the long term. This is likely to generate lucrative market prospects.