The Latest Propylene Glycol Industry Statistics Explained
The global propylene glycol market size was valued at USD 3.6 billion in 2019.
The statistic stating that the global propylene glycol market size was valued at USD 3.6 billion in 2019 indicates the total monetary value of propylene glycol products traded worldwide during that year. Propylene glycol is a chemical commonly used in a variety of industries such as food and beverage, pharmaceuticals, cosmetics, and industrial applications. The market size figure reflects the significant demand for propylene glycol due to its versatile properties and applications. Understanding the market size provides insights into the scale of the propylene glycol industry and is crucial for market analysis, forecasting, and decision-making by industry stakeholders.
The global propylene glycol market is expected to reach USD 5.36 billion by 2027.
This statistic indicates the projected size of the global propylene glycol market by the year 2027, estimated to be USD 5.36 billion. This figure represents the expected total value of propylene glycol sales worldwide, reflecting the growing demand for this compound across various industries such as food and beverage, pharmaceuticals, cosmetics, and automotive. Factors driving this market growth may include the increasing use of propylene glycol as a humectant, solvent, and preservative, as well as its eco-friendly properties compared to other chemicals. The forecasted value of USD 5.36 billion suggests a significant market opportunity with potential profitability for businesses operating in the propylene glycol sector.
The propylene glycol industry is expected to exhibit a CAGR of 4.4% between 2020 and 2027.
The statement that the propylene glycol industry is expected to exhibit a Compound Annual Growth Rate (CAGR) of 4.4% between 2020 and 2027 indicates the anticipated average annual rate of growth in the industry over this period. A CAGR of 4.4% suggests that, on average, the industry is projected to increase by 4.4% each year during the specified period. This growth rate provides insights into the industry’s potential expansion, enabling stakeholders to anticipate the industry’s trajectory and make informed decisions regarding investments, expansions, or strategic planning.
In 2019, Unsaturated Polyester Resin (UPR) application dominated the market with over 36.7% share of the total revenue.
The statistic reveals that in 2019, Unsaturated Polyester Resin (UPR) was the leading application in terms of revenue generation within the market, accounting for more than one-third (36.7%) of the total revenue. This indicates that UPR was the most widely utilized resin type in various industries such as construction, automotive, marine, and others. The dominance of UPR suggests its versatility, cost-effectiveness, and desirable properties that meet the requirements of different applications. Companies producing UPR might have experienced significant market demand and profitability due to its widespread use and popularity among consumers and manufacturers.
The Asia Pacific had the largest market share of 37% in 2019.
The statistic stating that the Asia Pacific region had the largest market share of 37% in 2019 indicates that this region accounted for a significant portion of the total market activity compared to other regions during that specific year. Having a market share of 37% means that more than a third of all market transactions, sales, or activities occurred in the Asia Pacific region. This statistic highlights the economic importance and influence of the Asia Pacific region in the global market landscape in 2019, demonstrating its dominance and strength in driving market trends, activities, and developments during that time period.
The U.S. propylene glycol market size was valued at USD 638.4 Million in 2017 and is projected to reach USD 1,506.1 million by 2025.
The statistic provided indicates the market size for propylene glycol in the United States, valued at USD 638.4 million in 2017, with a projected growth to reach USD 1,506.1 million by the year 2025. This data highlights a significant increase in the market value of propylene glycol over the specified time period, suggesting a growing demand for this chemical compound within various industries such as food, pharmaceuticals, cosmetics, and automotive. The projected growth reflects the potential for increased production, consumption, and investment in propylene glycol-related products and applications in the U.S. market, indicating a positive trend for the industry in the coming years.
The propylene glycol market in the US is expected to grow at a CAGR of 8.4% from 2018 to 2025.
This statistic indicates that the propylene glycol market in the United States is projected to experience a Compound Annual Growth Rate (CAGR) of 8.4% from the year 2018 to 2025. This suggests a consistent and average annual growth rate over the specified period. A CAGR of 8.4% implies that the market is expected to expand steadily, with potential fluctuations in growth rates from year to year, resulting in an overall growth of approximately 8.4% each year. This forecast could be influenced by various factors such as increasing demand, technological advancements, regulatory changes, or shifts in consumer preferences within the propylene glycol industry.
The pharmaceutical grade segment was the most prominent segment with an 81.8% market share in 2017.
The statistic indicates that among the different segments in the pharmaceutical industry, the pharmaceutical grade segment had the largest market share in 2017, accounting for 81.8% of the total market. This suggests that the pharmaceutical grade products, which are manufactured to meet strict quality and purity standards, were particularly dominant in the industry during that time. This high market share for pharmaceutical grade products implies that they were in high demand among consumers and healthcare providers, likely due to their perceived efficacy, safety, and reliability. The strong presence of the pharmaceutical grade segment highlights its significance and influence within the pharmaceutical market in 2017.
Among major manufacturers, DowDupont accounted for the major market share of approximately 25% in 2017.
The statistic “Among major manufacturers, DowDupont accounted for the major market share of approximately 25% in 2017” indicates that within a group of large manufacturers, DowDupont held a significant portion of the total market sales in 2017. Specifically, DowDupont’s products or services represented about a quarter of the overall market activity within the industry during that year. This suggests that DowDupont was a dominant player in the market compared to its competitors, exerting considerable influence and potentially driving industry trends or being a significant factor in market dynamics. The statistic highlights DowDupont’s strong market position and underscores its importance within the industry landscape in 2017.
Europe is the second largest region in terms of consumption in the global propylene glycol market.
The statistic that Europe is the second largest region in terms of consumption in the global propylene glycol market indicates that Europe ranks only behind another region in terms of the amount of propylene glycol consumed within its markets. This suggests that there is a significant demand for propylene glycol within Europe, likely driven by various industries such as pharmaceuticals, food and beverage, cosmetics, and others where propylene glycol is commonly used as an ingredient. The statistic also implies that Europe plays a significant role in the global propylene glycol market and is a key player in driving overall consumption trends for this product worldwide.
China had the largest propylene glycol output of any country in 2020.
The statistic indicates that China produced the highest amount of propylene glycol among all countries in 2020. Propylene glycol is a chemical compound commonly used in various industries such as food and beverage, pharmaceuticals, and cosmetics, as well as in antifreeze and industrial applications. The fact that China had the largest propylene glycol output suggests that the country has a significant role in global production and supply of this compound. This could be due to various factors such as a large industrial base, technological advancements, competitive pricing, and demand from both domestic and international markets. The statistic highlights China’s strong presence in the propylene glycol market and its importance in the global chemical industry.
In the Netherlands, the propylene glycol market is estimated to grow at a CAGR of over 3% during 2020-2025.
This statistic suggests that in the Netherlands, the propylene glycol market is anticipated to experience a Compound Annual Growth Rate (CAGR) exceeding 3% from 2020 to 2025. A CAGR of over 3% implies a consistent annual growth rate over the specified period, indicating a positive trend in market expansion. This growth projection indicates a rising demand for propylene glycol in the Netherlands, possibly driven by factors such as increasing applications in various industries, favorable regulatory environments, or changing consumer preferences. Overall, the estimation of a CAGR over 3% signals a promising outlook for the propylene glycol market in the Netherlands in the coming years.
On the basis of grade, the industrial grade segment holds the largest market share in the global propylene glycol industry.
This statistic suggests that within the global propylene glycol industry, the industrial grade segment has the highest proportion of market share compared to other grade segments such as pharmaceutical or food grade. This indicates that a significant amount of propylene glycol is being used for industrial purposes, likely in applications such as antifreeze, de-icing solutions, and as a solvent in various industrial processes. The prominence of the industrial grade segment may be influenced by factors such as cost-effectiveness, availability, and demand from industries requiring propylene glycol for non-consumable uses. Understanding this market share distribution can provide insights into the key players in the industry and potential growth opportunities within the industrial-grade segment.
In 2020, the demand for bio-based propylene glycol is growing at a faster rate due to its eco-friendly nature.
The statistic indicates that in 2020, the demand for bio-based propylene glycol is increasing rapidly compared to previous years. This heightened demand is likely a result of the growing awareness and emphasis on eco-friendly and sustainable products and practices. Bio-based propylene glycol is considered more environmentally friendly than traditional petroleum-based propylene glycol, making it a preferred choice for many consumers and industries seeking to reduce their carbon footprint and environmental impact. The trend suggests a shift towards more sustainable alternatives in various sectors, highlighting the importance of environmental considerations in product choices and market dynamics.
In 2020, Sinopec, a Chinese company, was one of the leading global producers of propylene glycol.
The statistic indicates that in the year 2020, Sinopec, a prominent Chinese company, stood out as one of the top global producers of propylene glycol. Propylene glycol is a versatile chemical compound commonly used in various industries such as food and beverage, pharmaceuticals, cosmetics, and industrial manufacturing. Sinopec’s position as a leading producer of propylene glycol suggests that the company played a significant role in meeting the global demand for this compound. This statistic highlights Sinopec’s capability and competitiveness in the production and distribution of propylene glycol on a global scale, showcasing the company’s strength and influence in the chemical industry.
Bio-based propylene glycol is expected to witness the highest growth over a forecast period, with a CAGR of nearly 6% from 2021 to 2026.
The statistic indicates that bio-based propylene glycol, a sustainable alternative to petroleum-based propylene glycol, is projected to experience the greatest increase in demand over the forecast period from 2021 to 2026, with a compound annual growth rate (CAGR) of almost 6%. This growth is likely due to the rising awareness and adoption of eco-friendly products among consumers, as well as regulatory pressures to reduce dependence on fossil fuels. The promising growth prospects suggest a shift towards more sustainable and environmentally friendly practices in the chemical industry, highlighting a growing market for bio-based propylene glycol as a key ingredient in various applications such as food, pharmaceuticals, cosmetics, and automotive industries.
The food & beverage segment is predicted to witness a CAGR of almost 5% from 2021 to 2026.
This statistic indicates that the food & beverage segment is expected to experience a Compound Annual Growth Rate (CAGR) of close to 5% between the years 2021 and 2026. This means that the industry is projected to grow at a steady pace over the specified timeframe. A high CAGR suggests that the sector is likely to expand in terms of revenue, market share, and overall economic importance. This prediction is valuable for stakeholders, investors, and industry professionals who can use this information to make informed decisions about investments, marketing strategies, and business operations within the food & beverage sector.
Russia’s consumption of propylene glycol was about 14.5 thousand tonnes in 2019.
The statistic indicates that in 2019, Russia consumed approximately 14.5 thousand tonnes of propylene glycol. Propylene glycol is a chemical compound commonly used in various industries such as food production, cosmetics, pharmaceuticals, and automotive products. The amount consumed provides insight into the demand for propylene glycol in Russia’s market and suggests the level of industrial activity utilizing this chemical in the country during that year. Monitoring consumption trends of propylene glycol can help gauge economic activity, production levels, and potential areas of growth or decline in different sectors within the Russian economy.
North America is projected to be the fastest-growing market for propylene glycol during the forecast period, with a CAGR of 4.5% from 2015 – 2020.
The statistic indicates that North America is expected to experience the highest growth rate in the market for propylene glycol compared to other regions during the forecast period from 2015 to 2020. The compound annual growth rate (CAGR) of 4.5% highlights the projected average annual rate at which the market for propylene glycol in North America is anticipated to expand over the specified period. This growth is likely driven by various factors such as increasing demand for propylene glycol in industries like food and beverage, pharmaceuticals, and cosmetics in the region. The forecast suggests that North America is poised to be a key market for propylene glycol, presenting opportunities for industry players to capitalize on the growing demand for the product in the region.
In the Germany propylene glycol market, personal care and pharmaceutical segments accounted for approximately 70% of the total consumption in 2019.
The statistic indicates that in the Germany propylene glycol market in 2019, the personal care and pharmaceutical segments collectively represented a significant portion, approximately 70%, of the total consumption of propylene glycol. This suggests that these two sectors are the primary drivers of demand for propylene glycol in Germany, highlighting their importance in the market. The high consumption in personal care and pharmaceutical industries could be attributed to the versatile properties of propylene glycol, which is commonly used as a solvent, humectant, and stabilizer in various products such as skincare formulations, pharmaceuticals, and oral care products. This statistic underscores the significant role of personal care and pharmaceutical applications in driving the demand for propylene glycol within the German market during the specified period.
Conclusion
Through examining the statistics of the Propylene Glycol industry, it is evident that this sector plays a crucial role in various applications such as food, pharmaceuticals, and cosmetics. The data highlights the steady growth and the increasing demand for propylene glycol globally. Understanding these statistics is essential for businesses and policymakers to make informed decisions and strategies for the future of the industry.
References
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4. – https://www.www.prnewswire.com
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