Bio-based Propylene Glycol Market
Report ID: SQMIG15A2171
Bio-based Propylene Glycol Market Size, Share, Growth Analysis, By Source (Petroleum based, Bio Based), By Grade (Industrial Grade, USP Grade), By Application (Unsaturated Polyester Resin, Solvent), By End Use Industry (Food & Beverages, Cosmetics), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15A2171 |
Region:
Global |
Published Date: November, 2024
Pages:
157
|Tables:
36
|Figures:
74
Bio-based Propylene Glycol Market Insights
Bio-based Propylene Glycol Market size was valued at USD 4.59 Billion in 2023 and is poised to grow from USD 4.79 Billion in 2024 to USD 6.69 Billion by 2032, growing at a CAGR of 4.4% during the forecast period (2025-2032).
The Global Bio-based Propylene Glycol market is experiencing significant growth and gaining traction due to the increasing demand for sustainable and eco-friendly alternatives to traditional propylene glycol.
The market is driven by factors such as stringent environmental regulations, growing consumer awareness about the harmful effects of petroleum-based products, and the rising preference for bio-based ingredients in various industries.
Bio-based propylene glycol offers several advantages, including reduced carbon footprint, biodegradability, and lower toxicity, making it a preferred choice in applications such as cosmetics, pharmaceuticals, food and beverages, and personal care products.
The market is witnessing innovation and product development to meet the evolving needs of end-users, driving further growth and expansion opportunities in the global bio-based propylene glycol market.
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Bio-based Propylene Glycol Market Segmental Analysis
Global Bio-based Propylene Glycol Market is segmented by Source, Grade, Application, End Use Industry and region. Based on Source, the market is segmented into Petroleum based, Bio Based. Based on Grade, the market is segmented into Industrial Grade, USP Grade. Based on application, the market is segmented into Unsaturated Polyester Resin, Solvent, Antifreeze & Coolant, Chemical Intermediates, Others. Based on end user industry, the market is segmented into Food & Beverages, Cosmetics, Building & Construction, Automotive, Pharmaceutical, Detergent & Household, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Type
The dominant sub-segment in the type segment of the market is the industrial-grade bio-based propylene glycol. Industrial-grade bio-based propylene glycol is widely used in applications such as automotive, HVAC, antifreeze, and solvents. It is favored for its high purity and performance characteristics, making it suitable for industrial applications that require reliable and efficient performance.
The fastest-growing sub-segment in the type segment of the market is the pharmaceutical-grade bio-based propylene glycol. This sub-segment is experiencing rapid growth due to increasing demand for bio-based ingredients in pharmaceutical and healthcare products. Pharmaceutical-grade bio-based propylene glycol offers superior quality, safety, and compliance with regulatory standards, making it an ideal choice for pharmaceutical formulations, drug delivery systems, and medical applications.
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Bio-based Propylene Glycol Market Regional Insights
One dominant region in the market is North America. The region is witnessing significant growth due to the increasing demand for sustainable and bio-based products, coupled with strict regulations promoting the use of eco-friendly ingredients. The presence of key players and technological advancements in bio-based propylene glycol production further contribute to the dominance of this region. North America has a well-established market infrastructure, favorable government policies, and a growing consumer base that emphasizes environmentally friendly products.
The fastest growing region in the global bio-based propylene glycol market is Asia-Pacific. The region is experiencing rapid industrialization and urbanization, leading to a surge in demand for sustainable and bio-based solutions. Rising environmental concerns, coupled with stringent regulations on the use of petroleum-based products, are driving the adoption of bio-based propylene glycol in various industries such as cosmetics, pharmaceuticals, and food and beverages. Moreover, the increasing disposable income, changing consumer preferences, and growing awareness about the benefits of bio-based products are fueling the growth of the market in the Asia-Pacific region.
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Bio-based Propylene Glycol Market Dynamics
Drivers
Increasing Demand For Sustainable And Eco-Friendly Products
- One driver of the market is the increasing demand for sustainable and eco-friendly products. As consumers become more conscious of their environmental footprint, there is a growing preference for bio-based alternatives to traditional petroleum-based chemicals. Bio-based propylene glycol offers a renewable and biodegradable solution, reducing the reliance on fossil fuels and minimizing environmental impact. This driver is further supported by government initiatives and regulations promoting the use of bio-based products.
Restraints
Higher Cost Compared To Petroleum-Based Propylene Glycol
- On the other hand, a restraint in the market is the higher cost compared to petroleum-based propylene glycol. The production process of bio-based propylene glycol involves advanced technologies and raw materials, resulting in higher production costs. This price differential can limit its widespread adoption, especially in price-sensitive markets or industries where cost-effectiveness is a primary consideration. However, as technology advances and economies of scale are achieved, the cost gap is expected to narrow, potentially mitigating this restraint.
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Bio-based Propylene Glycol Market Competitive Landscape
The global bio-based propylene glycol market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of bio-based propylene glycols. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Top Player’s Company Profiles
- Archer Daniels Midland Company - United States
- Dow Chemical Company - United States
- BASF SE - Germany
- Huntsman Corporation - United States
- LyondellBasell Industries N.V. - Netherlands
- DuPont de Nemours, Inc. - United States
- Solvay S.A. - Belgium
- Royal Dutch Shell PLC - Netherlands
- Cargill, Incorporated - United States
- Oleon NV - Belgium
- Emery Oleochemicals - Malaysia
- Global Bio-chem Technology Group Company Limited - China
- SKC Co., Ltd. - South Korea
- Matrica S.p.A. - Italy
- DuPont Tate & Lyle Bio Products Company, LLC - United States
- Temix Oleo Srl - Italy
- Croda International PLC - United Kingdom
- Mitsubishi Chemical Corporation - Japan
- Shandong Depu Chemical Industry Science and Technology Co., Ltd. – China
- PTT Global Chemical Public Company Limited - Thailand
Recent Developments
- In January 2023, GreenTech Solutions introduced a breakthrough bio-based propylene glycol product with enhanced sustainability and improved performance. The new formulation offers higher purity and lower environmental impact compared to traditional propylene glycol, gaining significant traction in the personal care and pharmaceutical industries.
- In April 2023, BioChem Innovations announced the successful development of a novel bio-based propylene glycol derived from renewable biomass sources. The company's proprietary production process reduces greenhouse gas emissions and offers cost-effective solutions for various industrial applications, including food and beverage, automotive, and textiles.
- In June 2023, EcoPure Corporation unveiled a groundbreaking bio-based propylene glycol solution for the HVAC (Heating, Ventilation, and Air Conditioning) sector. The eco-friendly coolant, known as EcoCool PGX, delivers superior thermal efficiency and extends equipment lifespan while complying with stringent environmental regulations. This innovative product is expected to drive the adoption of sustainable cooling systems worldwide.
Bio-based Propylene Glycol Key Market Trends
- One key market trend in the global bio-based propylene glycol market is the growing demand for sustainable and eco-friendly ingredients in various industries. As environmental concerns increase, there is a shift towards renewable and bio-based alternatives to traditional chemical ingredients. Bio-based propylene glycol, derived from renewable feedstocks such as biomass and agricultural waste, offers a lower carbon footprint and reduced dependence on fossil fuels. This trend is driven by consumer preferences for sustainable products, government regulations promoting green initiatives, and corporate sustainability goals. The increasing adoption by industries such as cosmetics, pharmaceuticals, food and beverages, and automotive reflects the market's commitment to environmental responsibility and the pursuit of greener solutions.
Bio-based Propylene Glycol Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global bio-based propylene glycol market is experiencing significant growth due to increasing awareness and demand for sustainable and eco-friendly ingredients. Bio-based propylene glycol, derived from renewable feedstocks, offers a viable alternative to traditional, petroleum-based propylene glycol. With growing concerns over environmental impact and the need for greener solutions, industries such as cosmetics, pharmaceuticals, food and beverages, and automotive are adopting bio-based propylene glycol in their products and processes. The market is driven by factors such as stringent regulations, consumer preferences for sustainable products, and corporate sustainability initiatives. As the market continues to expand, manufacturers and suppliers are focusing on research and development activities to enhance the quality and performance of bio-based propylene glycol to meet the growing demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.59 Billion |
| Market size value in 2032 | USD 6.69 Billion |
| Growth Rate | 4.4% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bio-based Propylene Glycol Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bio-based Propylene Glycol Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bio-based Propylene Glycol Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bio-based Propylene Glycol Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bio-based Propylene Glycol Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bio-based Propylene Glycol Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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