The major players in the propylene glycol market include The Dow Chemical Company, BASF SE, Archer Daniels Midland Company, LyondellBasell Industries N.V., DuPont Tate & Lyle Bio Products Company, LLC, Global Bio-chem Technology Group Co., Ltd., Huntsman Corporation, SKC Co., Ltd., Temix International S.R.L., and Ineos Oxide, among others.
The rising demand for Propylene Glycol in the food processing industry and pharmaceuticals Industry are important factors anticipated to encourage the growth of the global Propylene Glycol market in the upcoming period. Furthermore, rising trends towards the application of polypropylene in the automotive industry to decline the weight of the vehicle for increasing fuel efficiency are other factors projected to accelerate the growth of the market in the upcoming years. In addition to this, application of Propylene glycol (PG) to manufacture unsaturated polyester resins (UPRs), which is majorly consumed in in the construction, marine and transportation industries will also propel the growth of Propylene Glycol market. Furthermore, uses of propylene glycol in making unsaturated polyester resins that is reinforced with fiberglass which is used in building panels, bathroom components, fixtures , corrosion-resistant tanks, pipes ,ducts, boats, passenger cars, trucks and recreational vehicles and major appliances will contribute in the growth of Propylene Glycol market in upcoming periods. Apart from this, application of Propylene Glycol as an ingredient in engine coolants, deicing fluids, antifreeze and which are also helpful in making base fluid for aircraft deicing formulations and a coolant in the food industry will boom the market. Uses of propylene glycol broad as a humectant in the pharmaceutical, cosmetic, animal food and tobacco industries will drive the market over the forecast period.
Source: https://www.valuemarketresearch.com/report/propylene-glycol-market
Naira Shekhawat has been into Content Writing just after completing her Graduation in English Literature. Her love for words has won her many accolades in her respective jobs ever since. Naira covers business sections for VMR News. She is a traveller by heart and loves writing on food blogs as a freelancer.