Propylene Glycol Market by Source & Application - Global Forecast 2021

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Propylene Glycol Market
The report "Propylene Glycol Market by Source
(Petroleum and Bio-Based), Application
(Unsaturated Polyester Resin, Antifreeze
Functional Fluid, Food, Pharmaceuticals
Cosmetics), End-Use Industry (Transportation,
Building Construction) - Global Forecast to
2021", The global propylene glycol market was
valued at USD 3.47 Billion in 2016, and is
projected to grow at a CAGR of 5.8 from 2016 to
2021, to reach USD 4.60 Billion by 2021.
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Introduction
Eco-friendly production process of bio-based
propylene glycol has led to the growth of the
global propylene glycol market. Also, the growing
automotive industry in Asia-Pacific is driving
the market as propylene glycol is widely used in
engine coolants and sheet molding compounds among
others. In terms of end-use industry, the market
is classified into transportation, building
construction, pharmaceuticals cosmetics, food
beverage, and others. 
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Key Participants
The global propylene glycol market is led by
various market players such as The Dow Chemical
Company (U.S.), LyondellBasell Industries N.V.
(Netherlands), BASF SE (Germany), Archer Daniels
Midland Company (U.S.), Global Bio-chem
Technology Group Co., Ltd. (China), DuPont Tate
Lyle Bio Products Company, LLC (U.S.), Huntsman
Corporation (U.S.), SKC Co., Ltd. (South Korea),
Temix International S.R.L. (Italy), and Ineos
Oxide (Switzerland) among others.
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On The Basis Of Region
On the basis of region, the market is segmented
into Asia-Pacific, Europe, North America, Middle
East Africa, and South America. Currently, the
Asia-Pacific region is the largest market for
propylene glycol. Rapid industrialization and
improved living standards is expected to drive
the increasing demand for propylene glycol.  The
region is also projected to be the
fastest-growing market from 2016 to 2021. This
growth is attributed to the rapidly growing
transportation industry in the region.
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