Global Bio-based Propylene Glycol Market Segmentation, By Application (Unsaturated Polyester Resin, Antifreeze & Coolant, Chemical Intermediates, Solvent, and Others), End-use Industry (Automotive, Food Processing, Cosmetics, Pharmaceuticals, Construction, Marine, Transportation, and Others) – Industry Trends and Forecast to 2031.
Bio-based Propylene Glycol Market Analysis
The bio-based propylene glycol market is experiencing significant growth driven by increasing demand for sustainable and environmentally friendly alternatives to traditional petrochemical-based products. As industries seek to reduce their carbon footprints and comply with stringent environmental regulations, bio-based propylene glycol has emerged as a key solution. Derived from renewable sources such as corn or sugarcane, this compound offers the same functional properties as its conventional counterpart, making it suitable for a wide range of applications including pharmaceuticals, cosmetics, food products, and automotive fluids. The pharmaceutical industry is a major driver of market growth, where bio based propylene glycol is valued for its role as a safe solvent and carrier in medications. Similarly, the automotive sector's shift towards eco-friendly products has increased the adoption of bio-based propylene glycol in antifreeze and coolant formulations.
Bio-based Propylene Glycol Market Size
Global bio-based propylene glycol market size was valued at USD 235.25 million in 2023 and is projected to reach USD 550.01 million by 2031, with a CAGR of 11.20% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
Bio-based Propylene Glycol Market Trends
“Expansion of the Automotive Sector”
The automotive sector is increasingly embracing environmentally friendly solutions, which is significantly driving the demand for bio-based propylene glycol. As manufacturers and consumers alike become more conscious of environmental impacts, there is a growing emphasis on reducing the carbon footprint of automotive products. Bio-based propylene glycol, used primarily in coolants and antifreeze, aligns with this shift by offering a sustainable alternative to traditional petroleum-based products. Its production from renewable resources such as corn or sugarcane helps lower greenhouse gas emissions and supports broader sustainability goals. Automotive companies are integrating bio-based propylene glycol into their products to meet stringent environmental regulations and cater to a growing market of eco-conscious consumers. The rise of electric vehicles (EVs) and hybrid vehicles, which often include advanced cooling systems, further accelerates the adoption of bio-based propylene glycol.
Report Scope and Bio-based Propylene Glycol Market Segmentation
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Attributes
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Bio-based Propylene Glycol Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Key Market Players
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BASF SE (Germany), DOW (U.S.), LyondellBasell Industries Holdings B.V. (Netherlands), ADM (U.S.), Huntsman International LLC (U.S.), Global Bio-Chem Technology Group Company Limited (China), Dupont (U.S.), Tate & Lyle (U.K.), SKC (South Korea), Asahi India Glass Limited (India), HELM AG (Germany), Chaoyang Chemicals, Inc. (China), Temix International S.R.L. (Italy), Qingdao Shida Chemical Co., Ltd. (China), ADEKA CORPORATION (Japan), Royal Dutch Shell plc (Netherlands), Golden Dyechem (India), TRInternational (U.S.), Oleon NV (Belgium), Shandong Depu Chemical Industry Science & Technology Co., Ltd. (China), and INEOS Group Ltd (U.K.)
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Market Opportunities
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Value Added Data Infosets
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
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Bio-based Propylene Glycol Market Definition
Bio-based propylene glycol is a sustainable alternative to traditional propylene glycol, derived from renewable biological sources rather than petroleum. It is produced through the fermentation of plant-based feedstocks, such as corn or sugarcane, which are then processed to create propylene glycol. This bio-based variant retains the same chemical properties as conventional propylene glycol, including its use as a solvent, antifreeze, and in various industrial applications.
Bio-based Propylene Glycol Market Dynamics
Drivers
- Rising Consumer Awareness of Sustainability
Consumer awareness of sustainability is on the rise, driven by growing concerns about environmental impact and the desire for greener alternatives. This shift in consumer preferences is compelling companies to adopt eco-friendly products like bio-based propylene glycol. Derived propylene glycol, relies on fossil fuels, bio-based propylene glycol is produced from renewable sources such as corn or sugarcane. This sustainable approach not only helps reduce carbon footprints but also aligns with the broader trend towards environmental responsibility. As consumers increasingly demand products that reflect their values, businesses are responding by integrating bio-based propylene glycol into their offerings, thus driving its market growth and enhancing its appeal as a more responsible choice.
- Growth in the Pharmaceutical Industry
In pharmaceuticals, bio-based propylene glycol is used in a variety of formulations, including oral medications, intravenous solutions, and topical products. Its ability to dissolve and stabilize active ingredients makes it essential in drug manufacturing. Moreover, as the pharmaceutical sector continues to expand with a focus on new and innovative therapies, the demand for reliable and non-toxic solvents like bio-based propylene glycol is increasing. This trend is further supported by the industry's ongoing commitment to sustainability and reducing reliance on petrochemical products, thereby bolstering the market for bio-based propylene glycol.
Opportunities
- Innovations in Production Technologies
Advances in manufacturing processes can lead to substantial cost reductions and efficiency improvements, making bio-based propylene glycol more competitive with traditional petrochemical products. Innovations such as enhanced fermentation techniques, improved catalyst systems, and more efficient separation methods are contributing to lower production costs and increased scalability. As technology evolves, these advancements help address some of the economic challenges associated with bio-based propylene glycol production, creating new opportunities for market growth. The focus on technological progress not only supports cost-efficiency but also enhances the overall viability of bio-based solutions in various applications.
- Development of New Applications
Exploring new applications for bio-based propylene glycol presents a significant opportunity for market expansion. Beyond its established use in pharmaceuticals and automotive fluids, bio-based propylene glycol has potential in emerging sectors such as cosmetics, agriculture, and electronics. In cosmetics, it can be used as a moisturizing agent or solvent in beauty products. In agriculture, it may serve as a component in plant protection products or growth enhancers. In electronics, it could be applied in the formulation of high-performance coolants. Companies can tap into additional market segments, by identifying and developing these new applications, creating further growth and establishing bio-based propylene glycol as a versatile and valuable ingredient across various industries.
Restraints/Challenges
- High Production Costs
The production process for bio-based propylene glycol involves complex steps and advanced technology to convert renewable feedstocks into the final product. This complexity results in elevated capital and operational expenditures, which can make bio-based propylene glycol more expensive than its conventional counterparts. Additionally, the costs of raw materials and the need for specialized equipment contribute to the overall expense. These high production costs can impact pricing and limit market penetration, posing a significant restraint for the widespread adoption of bio-based propylene glycol.
- Limited Availability of Raw Materials
The availability of suitable renewable raw materials is a critical factor affecting the bio-based propylene glycol market. The production of bio-based propylene glycol relies on feedstocks such as corn or sugarcane, which are subject to fluctuations in supply and price. Inconsistent availability of these raw materials can lead to supply chain disruptions and increased production costs, affecting the overall market stability. Factors such as agricultural yields, climatic conditions, and competition for feedstocks from other industries can influence raw material availability.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Bio-based Propylene Glycol Market Scope
The market is segmented on the basis of application and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Unsaturated Polyester Resin
- Antifreeze & Coolant
- Chemical Intermediates
- Solvent
- Others
End-use Industry
- Automotive
- Food Processing
- Cosmetics
- Pharmaceuticals
- Construction
- Marine
- Transportation
- Others
Global Bio-based Propylene Glycol Market Regional Analysis
The market is analyzed and market size insights and trends are provided by country, application and end-use industry as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to the robust growth in several key end-use industries within the region. The pharmaceutical and automotive sectors, in particular, are driving the demand for bio-based propylene glycol. North America's strong regulatory framework and focus on sustainability, continues to bolster the region's dominance in the market.
Asia-Pacific is expected to be the fastest growing due to the increasing demand for high-quality antifreeze and coolant products in the region. As industrialization and urbanization accelerate across countries such as China and India, there is a heightened need for advanced automotive fluids that can perform well under varying environmental conditions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Global Bio-based Propylene Glycol Market Share
The market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Bio-based Propylene Glycol Market Leaders Operating in the Market Are:
- BASF SE (Germany)
- DOW (U.S.)
- LyondellBasell Industries Holdings B.V. (Netherlands)
- ADM (U.S.)
- Huntsman International LLC (U.S.)
- Global Bio-Chem Technology Group Company Limited (China)
- Dupont (U.S.)
- Tate & Lyle (U.K.)
- Asahi India Glass Limited (India)
- HELM AG (Germany)
- Chaoyang Chemicals, Inc. (China)
- ADEKA CORPORATION (Japan)
- Shell International B.V. (Netherlands)
- Golden Dyechem (India)
- Oleon NV (Belgium)
- Shandong Depu Chemical Industry Science & Technology Co., Ltd. (China)
- INEOS (U.K.)
Latest Developments in Bio-based Propylene Glycol Market
- In November 2023, BASF collaborated with a Brazilian company to manufacture Bio-PG from sugarcane, with the goal of lowering the carbon footprint of their product
- In September 2023, Cargill introduced a new line of Bio-PG products featuring improved purity, designed for applications in pharmaceuticals and cosmetics
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